Kraken Robotics stock slips 1.53 percent as Q2 loss widens

Q2 revenue reached CAD 27.32 million for the period ended June 30, 2026, and adjusted EBITDA was CAD 5.00 million. 2026 guidance remains CAD 209 million to CAD 320 million.

Kraken Robotics stock was trading at CAD 4.50 on the TSX Venture Exchange on September 28, 2026, down 1.53 percent from the prior close of CAD 4.57. The latest earnings update showed a wider Q2 loss, while management kept its full-year 2026 revenue guidance at CAD 209 million to CAD 320 million.

Q2 loss reaches CAD 7.52 million

For the quarter ended June 30, 2026, Kraken Robotics reported revenue of CAD 27.32 million and a GAAP net loss of CAD 7.52 million, compared with a net loss of CAD 0.70 million in the prior-year quarter, according to Simply Wall St.

The underlying operating figures were more constructive. The Q2 earnings call reported adjusted EBITDA of CAD 5 million and an adjusted EBITDA margin of 18 percent, while gross profit exceeded CAD 16 million and gross margin reached 59 percent, according to Yahoo Finance on August 27, 2026.

Guidance stays tied to Covelya

Management said the 2026 outlook remains unchanged after the Covelya acquisition. The company expects revenue of CAD 209 million to CAD 320 million, adjusted EBITDA of CAD 65 million to CAD 75 million, and capital expenditures of CAD 27 million to CAD 33 million, with more than 75 percent of revenue expected from products, according to Yahoo Finance.

The acquisition closed on July 2, 2026, so Q3 is the first reporting period to include the combined group. The company said it expects to report Q3 results on November 24, 2026, creating a clear checkpoint for judging whether the expanded platform is converting into revenue and margin growth.

Analysts see a wider valuation gap

Royal Bank of Canada began coverage on September 15, 2026, with an outperform rating and a CAD 6.00 price target, according to MarketBeat. Against the CAD 4.50 intraday price, that target stands 33.33 percent higher.

MarketBeat also lists a CAD 9.00 average target from seven analysts, while Desjardins lowered its target from CAD 13.50 to CAD 13.00 on August 28, 2026. The contrast puts execution at the center of the story: Q2 profitability metrics were positive on an adjusted basis, but the GAAP loss and the scale of the Covelya integration remain important markers for the next report.

Kraken Robotics market snapshot

• Company: Kraken Robotics Inc.
• Ticker: PNG
• Trading venue: TSX Venture Exchange
• Price (as of September 28, 2026, 10:04 a.m. ET): CAD 4.50
• Market capitalization: CAD 1,382.3 million (as of September 28, 2026)
• 52-week range: CAD 4.41-CAD 10.72 (as of September 28, 2026)
• Sector / Industry: Information Technology