Coda Octopus Group, Inc. (NASDAQ:CODA) shares are trading higher Monday after the company reported first-quarter financial results.
- Coda shares are trending higher. What’s driving CODA shares up?
EPS And Revenue Beats Expectations
The company reported earnings per share of 8 cents, beating the consensus estimate of 6 cents. In addition, Coda reported revenue of $6.71 million, beating the consensus estimate of $6.22 million.
Marine Technology revenue rose 47.4% to $3.4 million, driven by stronger Echoscope sales and increased demand in Asia. Defense Engineering Services revenue increased 9.2% to $1.8 million, while Acoustics Sensors and Material revenue climbed 20.7% to $1.6 million.
Annmarie Gayle, CODA’s Chairman and CEO, said, “Despite the uncertain global policy environment, I am pleased with our overall financial results in our FQ2026 and the diversification of our revenue structure.”
Cash and cash equivalents totaled $30.4 million at the end of the quarter, up from $28.7 million in the prior period.
Coda Shares Climb
CODA Price Action: At the time of publication, Coda shares are trading 4.11% higher at $14.18, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.