Coda Octopus (CODA) is in focus as traders look at the underwater tech stock ahead of its earnings. New York, June 1, 2026, 13:04 (EDT)
- Coda Octopus stock rose 3.3% to $12.96 in early afternoon trade. The company’s market cap was around $146 million.
- U.S. markets traded Monday. Nasdaq’s 2026 holiday calendar puts the next June market holiday on Juneteenth, June 19.
- The next big date for the company is its fiscal Q2 earnings call, set for June 15.
Coda Octopus Group shares climbed Monday afternoon, beating the small-cap index as investors waited for the underwater-tech company’s mid-June earnings update.
The stock gained 42 cents, climbing 3.3% to $12.96. Shares moved in a range from $12.56 to $13.20. Volume hit 137,601. Market cap ran close to $146 million.
The date is key because Coda’s next scheduled event is coming up. The company said it will hold its fiscal Q2 results call on June 15 at 10 a.m. Eastern, covering the quarter ended April 30.
Market moves were uneven. The SPDR S&P 500 ETF, which tracks large caps, was little changed. The iShares Russell 2000 ETF, a small-cap barometer, dropped 0.8%. Coda’s rise stood out, appearing more tied to the stock than the indexes.
Coda’s latest quarter sets the benchmark for traders. The company posted fiscal first-quarter revenue of $6.7 million, a jump of 28.8% year-on-year. Its Marine Technology unit saw a 47.4% gain to $3.4 million. Diluted EPS stayed at 8 cents, unchanged, factoring in possible share issuance.
Coda’s chairman and CEO Annmarie Gayle said in the release she was “pleased with our overall results,” pointing to revenue gains across units. She said DAVD—Diver Augmented Vision Display—sales will be “backended” in fiscal 2026, tied to when defense spending and the Navy assessment happen. Coda Octopus Group, Inc.
Coda sticks to its main offer: sound-based underwater imaging, live 3D sonar, and AR diving gear made for commercial subsea and defense users. The company claims its Echoscope tech is found in salvage, search and rescue, offshore renewables, subsea infrastructure, mining, robotics, and port security.
Kraken Robotics reported last week that its first-quarter revenue was up 35%, with product revenue jumping 50% thanks to orders for subsea batteries and synthetic aperture sonar. CEO Greg Reid said “industry fundamentals” are still strong, backed by demand from autonomous underwater vehicles used in defense and offshore energy. Kraken Robotics
Teledyne Technologies is the bigger player, with its Teledyne Marine arm selling sonar gear used in subsea work, offshore oil and gas, science, and marine construction. Shares in Teledyne dropped 1.4% on Monday, so Coda ended with a firmer read versus one big marine-sensor stock.
Coda’s risks go both ways. In its 10-Q, the company listed foreign exchange swings, tariffs, delayed defense spending, changes in customer demand and long procurement cycles. Coda said 87.2% of its first-quarter revenue was from outside the U.S. In another SEC filing, Coda registered up to $100 million in possible future securities sales under a shelf registration, which would let it issue securities later if it wants. The company warned about limited trading, volatility, and dilution, all of which could pressure the stock.
For now, attention turns to the June 15 call. Investors want to see if first-quarter sonar demand kept up in April, and if defense DAVD orders have slipped further into the year. The question is whether a small stock that can’t afford a miss can hold its recent gains.
