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Victory Square revenue surge, Kraken Robotics Q2 results. Victory Square Technologies posted a net loss of about $100,000 in the first half of last year. This year, over the same six months, it posted $6.5 million in net income on revenue that grew more than fivefold. A marine technology company on the other side of the country reported a much smaller revenue gain, a wider net loss, and still walked away from the week having just closed the largest acquisition in its history. Victory Square Technologies reports H1 revenue of $53 million, up 434%. Victory Square Technologies Inc. (CSE: VST) (OTCQX: VSQTF) reported first-half 2026 revenue of $53.0 million, up from $9.9 million in the comparable period of 2025, and net income of $6.5 million compared with a net loss of approximately $0.1 million a year earlier. Gross profit rose to $10.5 million from $3.4 million. CEO Shafin Diamond Tejani said the second quarter continued the strong operating momentum the company saw at the beginning of the year. The growth is almost entirely attributable to subsidiary Hydreight Technologies Inc., a virtual healthcare and direct-to-consumer platform, which generated the same $53.0 million in first-half revenue on its own, up 434% from $9.9 million a year earlier, with $5.1 million in net income. Hydreight's gross margin fell to 19.4% in the second quarter from 35.9% a year earlier, which the company attributed to a higher mix of pharmacy sales and pricing concessions; Hydreight reaffirmed its full-year 2026 revenue guidance of approximately $150 million. Victory Square's own net income also benefited from fair-value adjustments on its portfolio investments, a non-operating component that is separate from Hydreight's operating results. The company ended the quarter with $20.2 million in cash and $34.5 million in working capital, and its other portfolio holdings, including Insu Therapeutics and Pawsible Ventures, remain smaller contributors to the consolidated results. Kraken Robotics reports Q2 results, signs new subsea battery contract. Kraken Robotics Inc. (TSXV: PNG) (OTC: KRKNF) reported standalone second-quarter 2026 revenue of $27.3 million, up 4% year over year, with Adjusted EBITDA of $5.0 million, though net loss widened to $7.5 million from $0.7 million a year earlier. The results exclude any contribution from UK-based Covelya Group, which Kraken acquired for approximately $615 million in a deal that closed July 2, 2026. CEO Greg Reid tied the results to continued focus on building for long-term growth. Kraken secured more than $27 million in new product orders during the quarter and signed a new long-term Master Supply Agreement to deliver subsea batteries to an unnamed international conglomerate manufacturing extra-large unmanned underwater vehicles. Combined with Covelya, announced 2026 orders across both businesses now total approximately $355 million. Kraken's full-year 2026 guidance, which already includes a half-year contribution from Covelya, remains unchanged at $290 million to $320 million in revenue and $65 million to $75 million in Adjusted EBITDA. The company held cash of $91.3 million and working capital of $151.8 million as of June 30, 2026, up from $32.9 million and $71.8 million a year earlier, though shares have declined roughly 28% over the past 90 days despite the operational momentum. VST, PNG: Forward-Looking FAQ. Is Victory Square's net income primarily from Hydreight's operations or from investment gains? Both contributed. Hydreight generated $5.1 million of the company's $6.5 million net income from its own operations, while the remainder reflects fair-value adjustments on Victory Square's other portfolio investments, a non-operating source that can vary quarter to quarter. Does Kraken's unchanged 2026 guidance already assume a full contribution from Covelya? No. Guidance assumes only a half-year contribution from Covelya, since the acquisition closed July 2, 2026; Q3 2026 will be the first quarter to include combined results, and management has not said whether guidance will be revised once a full quarter of Covelya's contribution is known. Sources. Editorial disclosure. This roundup is based entirely on publicly available information including named wire service releases and financial news reporting. Securities discussed include Victory Square Technologies Inc. (CSE: VST) (OTCQX: VSQTF) and Kraken Robotics Inc. (TSXV: PNG) (OTC: KRKNF). aktiego.com has not received any compensation from any company, IR firm, or third party mentioned. No staff member or principal of aktiego.com holds a position in any security mentioned at the time of publication. Victory Square's revenue and net income are heavily concentrated in a single subsidiary, Hydreight Technologies, whose gross margin declined year over year due to sales mix, and part of Victory Square's consolidated net income reflects non-operating fair-value adjustments rather than operating income. Kraken Robotics' net loss widened year over year even as revenue and Adjusted EBITDA grew, its results exclude any contribution from its recently closed $615 million Covelya Group acquisition, and its shares have declined over the past 90 days despite the operational results reported. Small cap and micro-cap stocks listed on the CSE, TSX, TSXV, and Nasdaq are speculative investments carrying significant risk including potential total loss of capital. 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Kraken Robotics reported CAD27 million in consolidated revenue for Q2 2026, with product revenue of approximately CAD17 million and service revenue exceeding CAD10 million. Excluding a CAD1.5 million impact from a project scope change, consolidated revenue increased roughly 10% year-over-year. The company closed its acquisition of Covelya Group during the quarter, expanding its technological capabilities and addressable market. Kraken secured CAD355 million in product orders year-to-date, including CAD27 million in additional orders since July. Gross profit rose to over CAD16 million with margins holding at 59%. Adjusted EBITDA reached CAD5 million, maintaining an 18% margin. The company ended the quarter with CAD91 million in cash and CAD152 million in working capital. For 2026, Kraken expects revenues between CAD209 million and CAD320 million, with adjusted EBITDA of CAD65 million to CAD75 million.

Kraken updates its forecasts for 2026. Following the closing of the transaction, Kraken updated its financial forecasts to incorporate the contribution of Covelya Group from July 2, 2026. Since the release of their first-quarter results, both companies have secured new orders worth approximately $30 million, bringing the total contracts announced for 2026 to nearly $292 million between the two organizations. The company also maintains its expectation of generating cost synergies of close to $10 million during the first 24 months after integration. Similarly, it estimates that the operation will contribute positively to earnings per share between 1% and 5% during 2027 once these synergies are realized. New organizational structure. As part of the integration process, Kraken implemented a new corporate structure differentiating the functions of the business group and the operations of Kraken Robotics. Bernard Mills was promoted to the position of president of Kraken, while Greg Reid will continue as chief executive officer. The organization also added Simon Partridge to the management team as executive vice president of Technology, Graham Brown as executive vice president of Products, Gary Moynehan as executive vice president of Business Performance, and David Shea as executive vice president of Strategy and Growth. According to the company, this structure will allow for more efficient coordination of the integration of personnel, operations, systems, sales, and financial processes. Next steps after the acquisition. The transaction was financed through cash, common stock, and a new C$125 million credit facility. In addition, Kraken expanded its revolving credit facility and confirmed it maintains sufficient financial flexibility to support future growth opportunities. Over the next few months, the company will make progress in integrating Covelya's operations and expects to publish the first financial results that will include the contribution of the acquired group at the end of November 2026. At the same time, Kraken announced that it will begin the process of requesting a listing of its shares on the Toronto Stock Exchange (TSX), an initiative it hopes to complete between the end of 2026 and the beginning of 2027. Verified Author Analyst and writer of news specialized in industrial technology, with a solid background in engineering. My work focuses on curating and synthesizing complex information, transforming technical advances and regulatory changes into journalistic reports.