CODA

Orlando, FL, Aug. 24, 2026 (GLOBE NEWSWIRE) -- Coda Octopus Group, Inc. (“CODA” or the “Company”) (NASDAQ: CODA), a global market leader in real-time 3D/4D/5D and 6D imaging sonar technology for real-time subsea intelligence and new generation augmented reality diving technology (“DAVD”), will host a conference call on Monday, September 14, 2026 at 10:00 a.m. Eastern time to discuss its financial results for the fiscal third quarter ended July 31, 2026. A press release detailing these results will be issued before the opening of trading on September 14, 2026. The Company’s management will provide prepared remarks, followed by a question-and-answer period. Date: Monday, September 14, 2026Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time)U.S. dial-in numbers: 1-877-451-6152 or 1-201-389-0879International number: 1-201-389-0879Conference ID: 13762021 The conference call will broadcast live and be available for replay here. Persons interested in attending are required to call the conference telephone number approximately 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please press *0. A replay of the call will be available after approximately 2:00 p.m. Eastern time on the same day through Monday, September 28, 2026 at 11:59 p.m. ET. Telephone replay numbers: 1-844-512-2921 or 1-412-317-6671International replay number: 1-412-317-6671Access ID: 13762021 About Coda Octopus Group, Inc. The Company, founded in 1994, is an established supplier to the underwater and subsea market. The Company supplies a range of proprietary hardware and software solutions, including its market-leading real-time 4D/5D/6D imaging sonar technologies, marketed under the names Echoscope®, Echoscope PIPE® and Echoscope PIPE NANO Gen Series®, as well as its next-generation diving technology, the Diver Augmented Vision Display (“DAVD”) system. The Company’s Echoscope PIPE® sonar technology generates real-time 3D/4D/5D imagery of moving objects underwater, including in zero-visibility conditions. Echoscope technology is used globally across numerous commercial offshore and defense subsea applications. Applications for Echoscope® technology include subsea mapping, intervention and asset placement; salvage and recovery; search and rescue; offshore renewable energy projects, including cable installation and surveys; marine construction; subsea infrastructure installation; mining; robotics and 3D perception; breakwater construction and monitoring; decommissioning; diving operations; and port and harbor security. The Company's recently launched DAVD technology is designed to enhance commercial and defense diving operations by providing a fully integrated system that connects topside personnel and divers. The system enables both parties to visualize the same underwater scene and exchange critical information in real time. DAVD also integrates the Company's sonar technology, enabling dive operations to be conducted in zero-visibility conditions, a common challenge in underwater environments. The Company also includes two discrete Defense Engineering Services businesses, Coda Octopus Martech Ltd (UK-based) and Coda Octopus Engineering, Inc. (US-based), which principally supply mission-critical sub-assemblies as subcontractors to major defense prime contractors. Their scope of supply typically includes concept development, design, prototyping, manufacturing and post-sale support. This business model provides the potential for repeat orders throughout the life cycle of the underlying defense programs. The Company recently acquired Precision Acoustics Limited ("PAL"), an acoustic sensors and materials business. PAL supplies acoustic sensors and materials and performs calibration services for medical devices. PAL is accredited to the ISO/IEC 17025 standard and is one of a limited number of organizations in the United Kingdom accredited to perform these specialized measurements. Globally, only a small number of facilities hold ISO/IEC 17025 accreditation for these measurements. Ultrasonic free-field sensitivity calibration is critical for markets that require precision ultrasonic measurement, strict safety compliance and full metrological traceability. These include regulated and high-risk applications such as diagnostic and therapeutic medical ultrasound, defense and underwater acoustics, where free-field calibration is essential to ensure accurate beam sensitivity and minimize interference. PAL’s operations are based in the United Kingdom. For further information, please visit Coda Octopus Group or contact us at [email protected]. Forward Looking StatementsThis press release contains forward-looking statements concerning Coda Octopus Group, Inc. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “assume” and similar expressions are intended to identify forward‐looking statements. Those forward-looking statements include, without limitation, statements regarding the Company's expectations for the growth of the Company's operations and revenue. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, fluctuations in foreign exchange rates, changes in global economic conditions, tariff and trade policies, reductions in defense spending, changes in customer demand, geopolitical developments, the outcome of our ongoing research and development efforts relating to our products, including our patented real-time 3D solutions and DAVD technology, our ability to expand our sales and marketing capabilities, and the other risk factors described in our Annual Report on Form 10-K for the year ended October 31, 2025, filed with the Securities and Exchange Commission on January 29, 2026, as amended by Form 10-K/A filed on February 26, 2026. Coda Octopus Group, Inc., does not undertake and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. Contact:Mr. Dillon KingInvestor Relations Coda Octopus Group, Inc. Email: [email protected]: +1-407-735-2406

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Consolidated net revenue decreased slightly by 1.6% as geopolitical instability in Iran and the Middle East softened demand in those regions and parts of Asia. The effective closure of the Strait of Hormuz disrupted maritime shipping, leading to a 26.8% revenue decline in the core Marine Technology business segment. Management attributed improved profitability to a shift in revenue mix, specifically a 351.1% increase in high-margin rental asset utilization. Defense Engineering Services revenue grew 37.9%, driven by increased opportunities in the UK, though US growth was tempered by funding delays under continuing resolutions. Strategic focus is shifting toward the defense sector to reduce reliance on commercial offshore markets and capture long-term budget allocations for underwater vehicles. Operational efficiency improved through a 18.3% reduction in operating expenses, aided by favorable currency translation and reduced headcount. Management expects the recent 'Approved for Navy Use' status for the DAVID untethered system to drive wider adoption and full-fleet deployment across naval commands. The company anticipates receiving significant orders for the DAVID system in the third quarter, supported by existing fiscal year budget allocations. The NanoGen sonar series is positioned as a recurring production opportunity if current evaluations for an established vehicle program prove successful. M&A strategy remains active with two specific opportunities currently in due diligence, targeting a transaction close within the 2026 fiscal year. The long-term revenue model is pivoting toward multi-year, program-based adoption to establish more predictable, recurring sales cycles. A significant one-time gain was recorded in 'Other Income' following the successful sale of a company vessel during the quarter. SG&A expenses benefited from a $400,000 year-over-year swing from an exchange rate loss to an exchange rate gain. Geopolitical risks remain a primary headwind, with management noting that offshore projects in the UAE are currently on hold due to safety concerns. Stock-based compensation and employee-related costs were lower due to a strategic reduction in total headcount. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. The 'Approved for Navy Use' status is a critical inflection point as procurement for the untethered variant was legally restricted without it. While exact timing is difficult to predict, funding is already in the current budget and orders are expected to materialize in Q3. The 20 systems previously issued can now be officially fielded, which is expected to stimulate further demand through real-world operational feedback. Initial orders are not yet financially material but represent a strategic upgrade for an established vehicle program. If the evaluation phase is successful, the technology will be designed into the vehicle specification, creating a recurring production opportunity. Management declined to provide specific annual vehicle volumes, citing that the customer is still defining the final platform configuration. The company is currently evaluating two active opportunities and is in the process of performing due diligence. Management expressed confidence in being 'quite close' in the process, maintaining the goal of closing a deal this fiscal year.

This article first appeared on GuruFocus. Total Revenue: USD 6.9 million, a decrease of 1.6% from the previous year. Marine Technology Business Revenue: USD 2.8 million, a decrease of 26.8% from the previous year. Acoustic Sensors and Materials Business Revenue: USD 1.5 million, an increase of 17.5% from the previous year. Defense Engineering Services Business Revenue: USD 2.5 million, an increase of 37.9% from the previous year. Gross Profit: USD 4.6 million, up from USD 4.5 million in the previous year. Consolidated Gross Margin: 66.3%, up from 64.1% in the previous year. Operating Income: USD 1.8 million, an increase of 64.8% from the previous year. Net Income: USD 1.7 million or USD 0.15 per diluted share, up from USD 0.9 million or USD 0.08 per diluted share in the previous year. Cash and Cash Equivalents: USD 30.6 million, with no debt. Warning! GuruFocus has detected 2 Warning Sign with CODA. Is CODA fairly valued? Test your thesis with our free DCF calculator. Release Date: June 15, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Coda Octopus Group Inc (NASDAQ:CODA) reported an increase in gross profit margin to 66.3% from 64.1% in the previous year, reflecting improved rental revenue and reduced commission costs. The Defense Engineering Services Business saw a revenue increase of 37.9%, benefiting from long-standing relationships with prime defense contractors. The company introduced the NANO Gen series, an ultra-miniaturized 3D sonar, which has received initial orders for integration into an established vehicle program. The DAVD system received approval for Navy use, marking a significant milestone for broader adoption in the military diving sector. Coda Octopus Group Inc (NASDAQ:CODA) maintains a strong balance sheet with USD30.6 million in cash and no debt, providing financial stability and flexibility for future growth initiatives. Consolidated net revenue decreased slightly by 1.6% due to geopolitical instability in the Middle East and Asia, affecting customer demand. The Marine Technology Business experienced a 26.8% decrease in revenue, primarily due to reduced customer activity in the Middle East and Asia. Hardware sales in the Marine Technology Business decreased by 46.9%, impacting overall revenue performance. The Acoustics Sensors and Materials Business saw a decrease in gross margin to 53.7% from 65.4% in the previous year, due to a change in the sales mix. Operating expenses increased by 18.3%, driven by currency exchange rate movements and other factors, impacting overall profitability. Q: With the authorization for Navy Use, how do you see demand for the untethered DAVD ramping in the second half of the year and fiscal '27? Is there a contract in place for procurement? A: Annmarie Gayle, CEO: The approval is a significant milestone for DAVD technology. We expect to see some orders in the third quarter, but the mix of configurations is still unknown. The 20 untethered systems previously purchased can now be fielded, which should drive further demand. There is no IDIQ in place; orders are placed directly with us. Q: Has the pressure from the Iran conflict continued into the current quarter, and how quickly might demand recover once resolved? A: Annmarie Gayle, CEO: The geopolitical instability is not structural but a timing issue. Projects are on hold due to safety concerns, particularly in the UAE. We expect demand to resume swiftly once the situation stabilizes. Q: Can you provide details on the initial orders for the NANO Gen Echoscope and the evaluation process? A: Annmarie Gayle, CEO: It's too early to predict annual volumes as the customer is still defining the platform's configuration. If successful, it becomes a recurring production opportunity. The program is an upgrade of existing technology on an established platform. Q: What is the progress in discussions with OEMs for next-generation underwater vehicles? A: Blair Cunningham, President of Technology: Discussions are ongoing with several OEMs. Some are customer-driven, while others are technology manufacturer-driven. Two or three are at advanced stages, but the pace is affected by current geopolitical priorities. Q: Will revenue from NANO Gen Series deliveries be recognized this quarter? A: Annmarie Gayle, CEO: The initial order is not material in terms of revenue contribution this quarter. The significance lies in the opportunity if post-integration evaluations proceed as planned. The revenue from initial systems is included in this quarter's results. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Coda Octopus Group, Inc. (NASDAQ:CODA) shares climbed nearly 9% in premarket trading on Monday after the underwater technology specialist reported fiscal second-quarter 2026 earnings that surpassed analyst expectations, even as revenue came in below forecasts. The company delivered stronger profitability during the quarter, supported by expanding margins and lower operating costs. For the quarter ended April 30, 2026, Coda Octopus reported adjusted earnings per share of $0.15, exceeding the consensus estimate of $0.13. Revenue totaled $6.9 million, falling short of analyst expectations of $7.52 million and declining 1.6% from $7.0 million recorded in the same period a year earlier. Management attributed the softer revenue performance to geopolitical tensions in the Middle East and Asia, which delayed offshore projects in several important markets. Despite lower sales, the company posted a sharp increase in profitability. Net income rose 86.8% year-over-year to $1.7 million, compared with $0.9 million in the second quarter of fiscal 2025. Operating income increased 64.8% to $1.8 million, while operating margin expanded to 26.0% from 15.5% in the prior-year period. The improvement was driven by stronger gross margins and a 21.4% reduction in selling, general and administrative expenses. “I am pleased with our overall operating results for the second quarter of fiscal 2026, during which we delivered increases in both net income and earnings per share compared to the second quarter of fiscal 2025,” said Annmarie Gayle, Chairman and CEO. The company’s core Marine Technology Business generated revenue of $2.8 million, down 26.8% from $3.9 million a year earlier as demand weakened among customers in the Middle East and Asia affected by the Iran conflict. Elsewhere, performance was stronger. Revenue from the Defense Engineering Services Business increased 37.9% to $2.5 million, while the Acoustics Sensors and Material Business recorded growth of 17.5%, reaching $1.5 million. During the quarter, Coda Octopus secured formal approval from the U.S. Navy for its DAVD untethered diving system. Gayle described the development as “a significant inflection point” that could support broader adoption of the technology across naval diving operations worldwide. The company also received its first orders for the newly introduced Echoscope PIPE NANO GEN SERIES, providing further momentum for its product portfolio. Coda Octopus ended the quarter with cash and cash equivalents of $30.6 million as of April 30, 2026. That represented an increase of $1.9 million from October 31, 2025, strengthening the company’s financial position and providing additional flexibility to support future growth initiatives. Coda Octopus Group stock price

Interested in Coda Octopus Group Inc.? Here are five stocks we like better. Q2 profit improved even as revenue slipped: Coda Octopus reported revenue of $6.9 million, down 1.6% year over year, but net income more than doubled to $1.7 million and gross margin improved to 66.3%. Operating income also rose sharply as operating expenses fell. Mixed segment performance: Marine Technology revenue fell 26.8% amid softer demand in the Middle East and Asia, though higher rental revenue helped margins. In contrast, Defense Engineering Services grew 37.9% and Acoustic Sensors and Materials rose 17.5%. Technology and pipeline progress remain key themes: Management highlighted Navy approval for the DAVD Untethered System and an initial NanoGen sonar order with potential for larger adoption. The company also said it has two M&A opportunities in due diligence as it looks to expand its program-based revenue model. Coda Octopus Group (NASDAQ:CODA) reported higher profit and improved margins for its fiscal second quarter despite a slight decline in revenue, as strength in its defense engineering and acoustic sensors businesses helped offset weakness in its core marine technology segment. The company said total revenue for the quarter ended April 30, 2026, was $6.9 million, down 1.6% from $7.0 million in the same quarter last year. Net income rose to $1.7 million, or $0.15 per diluted share, compared with $0.9 million, or $0.08 per diluted share, a year earlier. → Viasat's Orbiting Profits: Space Force Jackpot? Chair and CEO Annmarie Gayle said the company delivered “a solid set of results” with gains in gross profit margins, net income and earnings per share, even as revenue slipped. She attributed the revenue pressure primarily to geopolitical instability tied to Iran and the Middle East, which the company said softened demand from customers in the region and parts of Asia. Coda Octopus’ Marine Technology business remained its largest segment, accounting for 41.1% of consolidated net revenue in the quarter. Revenue in the segment fell 26.8% to $2.8 million from $3.9 million a year earlier. → What to Expect From Q2 Earnings as Tech Strength Broadens Gayle said the business was affected by reduced customer activity in the Middle East and Asia, including disruptions to commercial operations related to the Strait of Hormuz. Hardware sales in the segment declined 46.9% to $1.8 million from $3.3 million in the prior-year period. However, rental revenue increased sharply, rising 351.1% to about $0.7 million from about $0.2 million. Interim CFO Gayle Jardine said that shift contributed to a higher gross margin in the Marine Technology business, which rose to 77.0% from 67.7% a year earlier. The company also cited a 68.7%, or $0.3 million, reduction in commission expenses because of fewer equipment sales through agents in Asia. → Alphabet's Most Overlooked Division Just Had a Big Week Gayle said the weakness in the affected markets was “not structural” and described it as a timing issue during the question-and-answer portion of the call. She said some offshore projects, including in the UAE, were on hold because of safety concerns and that the company believes they could resume swiftly if regional pressure eases. The Defense Engineering Services business generated revenue of $2.5 million, up 37.9% from $1.8 million a year earlier. Gayle said the U.K. arm of the business saw increased opportunities and higher revenue during the quarter. In the U.S., she said many defense programs continued to operate under continuing resolutions, which delayed contract awards and the timing of revenue. The Acoustic Sensors and Materials business recorded revenue of $1.5 million, up 17.5% from $1.3 million in the second quarter of fiscal 2025. Its gross margin declined to 53.7% from 65.4%, which Jardine said reflected a change in sales mix, including increased acoustic test environment product sales. Consolidated gross profit rose to $4.6 million from $4.5 million. Gross margin improved to 66.3% from 64.1%, which the company said reflected the composition of revenue, higher rental revenue and lower net commission costs. Total operating expenses fell 18.3% to $2.8 million from $3.4 million. Jardine said the primary driver was the movement of the U.S. dollar against the British pound and Danish krone, which reduced reported costs when translated into U.S. dollars. Selling, general and administrative expenses were $2.1 million, down 21.4% from $2.7 million. Jardine said the decrease reflected a favorable $0.4 million swing from an exchange rate expense in the prior-year quarter to an exchange rate gain in the current quarter, as well as lower employee-related costs from reduced headcount. SG&A represented 30.9% of consolidated revenue, compared with 38.8% a year earlier. Operating income increased 64.8% to $1.8 million from $1.1 million. Operating margin improved to 26.0% from 15.5%. Pre-tax income was $2.1 million, compared with $1.3 million a year earlier. The company recorded tax expense of $0.44 million, versus $0.36 million in the prior-year period. As of April 30, 2026, Coda Octopus had $30.6 million in cash and cash equivalents and no debt, up from $28.7 million at Oct. 31, 2025. Total assets rose to $67.3 million. Management emphasized progress in the company’s underwater technologies, including its Echoscope real-time 3D sonar, DAVD diving system and digital audio communication system. President of Technology and Director Blair Cunningham said the DAVD Untethered System has been approved for Navy use. He described that approval as a meaningful milestone because the product is now available for acquisition by any command and supports full fleet deployment of 20 previously issued systems. Cunningham said the company is still awaiting final U.S. Navy DAVD procurement budget approval, but currently expects related orders during the fiscal third quarter. In response to an analyst question, Gayle said there is no indefinite delivery/indefinite quantity contract in place for DAVD Untethered and that the company does not anticipate one. She said previous orders were placed directly with Coda Octopus, and the company expects that approach to continue. Cunningham also said the company completed training for a European navy that recently acquired an initial number of DAVD systems, and that the company continues to engage with that customer. Coda Octopus also received an initial order for a small number of NanoGen Series sonars, its ultra-miniaturized 3D sonar, for integration into an established vehicle program. Management said the systems will be used for evaluation and could represent a larger opportunity if the technology is written into the vehicle specification. During the Q&A session, Cunningham said the company is also engaged with several other underwater vehicle companies, with two or three opportunities at “fairly advanced stages.” Gayle said the initial NanoGen order was not material to quarterly revenue, but that the significance lies in the potential opportunity if integration and evaluation proceed as expected. Gayle said Coda Octopus remains focused on capital deployment and advancing its merger-and-acquisition strategy in fiscal 2026. She said the company is actively building and progressing a pipeline of opportunities and remains interested in closing a transaction this fiscal year while maintaining discipline around due diligence and strategic fit. In response to an analyst question, Gayle said the company has two active opportunities currently undergoing due diligence. She said the broader goal is to shift the Marine Technology revenue model toward multi-year, program-based adoption and a recurring multi-sale model over the life of major programs. Coda Octopus Group, Inc is a technology company that develops and sells real-time 3D sonar systems and related solutions for underwater applications. Its flagship Echoscope® real-time 3D sonar system enables clients to visualize subsea structures and seabed conditions in unprecedented detail. The company's product portfolio also includes BathyCORR® geophysical survey processing software, a range of ROV and USV inspection tools, and advanced subsea positioning and motion reference units. These technologies support tasks such as inspection, maintenance, salvage, survey, and security in challenging marine environments. The company serves a broad set of industries, including offshore oil and gas, marine mining, defense, civil engineering, telecommunications, and scientific research. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Coda Octopus Group Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for June 2026.

ORLANDO, FL, June 15, 2026 (GLOBE NEWSWIRE) -- Coda Octopus Group, Inc. (“CODA” or the “Company”) (Nasdaq: CODA) a global market leader in real-time 4D/5D/6D imaging sonar technology for real-time subsea intelligence and cutting-edge diving augmented reality technology (DAVD), today reported its unaudited financial results for its fiscal second quarter ended April 30, 2026 (SQ2026). Annmarie Gayle, CODA’s Chairman and CEO, commented: “I am pleased with our overall operating results for the second quarter of fiscal 2026, during which we delivered increases in both net income and earnings per share compared to the second quarter of fiscal 2025. Our financial performance improved year over year despite a decline in revenue within our core Marine Technology Business, which continues to be affected by the ongoing conflict involving Iran and the resulting instability across key markets in the Middle East and Asia. As a result, many offshore projects in the region remain on hold. Importantly, all other business units delivered revenue growth, including our Defense Engineering Services Business, which increased revenue by 37.9%. The numbers shown below have been rounded to one decimal point, unless two decimal points are required for clarity. The full SQ2026 financials can be found in CODA’s Form 10-Q filed with the SEC on June 15, 2026. Total revenue was approximately $6.9 million compared to $7.0 million in SQ2025, representing a decrease of 1.6%. Revenue from our core business (Marine Technology Business) was $2.8 million compared to $3.9 million in SQ2025, representing a 26.8% decrease. Revenue from our Defense Engineering Services Business was $2.5 million compared to $1.8 million in SQ2025, representing an increase of 37.9%. Revenue from the Acoustics Sensors and Material Business was $1.5 million compared to $1.3 million in SQ2025, representing an increase of 17.5%. Gross profit was $4.6 million compared to $4.5 million in SQ2025. Gross margin was 66.3% compared to 64.1% in SQ2026, reflecting the mix of type and geography of sales reported in the Period. Operating income was $1.8 million in SQ2026 compared to $1.1 million in SQ2025, representing an increase of 64.8%. Operating margin was 26.0% compared to 15.5% in SQ2025, reflecting the increase in our gross profit and 21.4% decrease in selling, general & administrative expenses. Pre-tax income was approximately $2.1 million in SQ2026 compared to $1.3 million in SQ2025, representing an increase of 68.6%. Net income after taxes was $1.7 million in SQ2026 compared to $0.9 million in SQ2025, an increase of 86.8%. Diluted earnings per share in SQ2026 was $0.15 compared to $0.08 in SQ2025. Pre-tax income as a percentage of revenues for SQ2026 was approximately 30.9% compared to 18.0% in SQ2025. Research and Development expenditures for SQ2026 were approximately $0.6 million compared to approximately $0.7 million in SQ2025, representing a decrease of 6.0%. SG&A in SQ2026 was approximately $2.1 million compared to $2.7 million in SQ2025, representing a decrease of 21.4%. Our cash balance at the end of SQ2026 of $30.6 million represents an increase of $1.9 million over October 31, 2025, when this figure was $28.7 million. Annmarie Gayle, CODA’s Chairman and CEO, commented: “Despite the ongoing conflict involving Iran and the resulting instability across the Middle East, which has adversely affected customer activity in this strategically important region as well as in Asia, I am pleased with our second quarter fiscal 2026 financial performance and the diversification reflected in our revenue structure. Our core Marine Technology Business sells products and solutions globally, with a significant portion of opportunities originating from the Middle East and Asia. During the quarter, we experienced reduced demand from customers in these regions due to the ongoing geopolitical situation. Even against this backdrop, we made meaningful progress across our key growth pillars. A major milestone for broader DAVD adoption in the military diving sector was the completion of the Approved Navy Use assessment. I am pleased to confirm that the DAVD untethered system has now been formally approved by the U.S. Navy. We view this as a significant inflection point: the system is now available for acquisition by any command, and the previously delivered 20 untethered DAVD units can now be deployed in ongoing operations. This approval validates the system’s operational suitability and opens the door to wider adoption across the global naval diving community. Because the assessment was completed in June, we expect procurement activity to be weighted toward the second half of fiscal 2026. With the R&D phase for the DAVD now complete and the untethered system approved for fleet deployment in the United States, our focus has shifted to business development aimed at accelerating global adoption, with particular emphasis on the European naval sector. In support of this strategy, we recently provided training to a European Navy that acquired an initial number of systems. With training now complete, we continue to engage closely with this influential customer and are encouraged by the positive feedback received to date. We remain optimistic about expanding DAVD deployment and operational use within this trend‑setting naval community, establishing a strong foundation for future international growth. We are also very encouraged by the early market response to our newly released Echoscope PIPE NANO GEN SERIES®. During the quarter, we received an initial order for a small number of NANO Gen Series sonars for integration into an established vehicle program. These systems provide a significant upgrade to the platform, delivering full‑perception visualization, vehicle control, and 3D obstacle avoidance, and are scheduled to undergo extensive evaluation. If successful, we believe this opportunity could scale rapidly. Echoscope products currently account for approximately 80% of Marine Technology Business revenue. With the launch of the NANO GEN Series and strong customer engagement, we believe we are well positioned to make further forays into the expanding defense and underwater robotics markets. The NANO GEN Series enables small platforms to enhance situational awareness and consolidate multiple sensors into a single, power‑efficient unit, providing real‑time 3D spatial awareness and forward‑looking obstacle avoidance. Beyond subsea vehicles, the NANO GEN Series is also well suited for diver‑wearable systems, diving platforms—highly synergistic with our DAVD solutions—and a wide range of underwater robotics applications. The worldwide Unmanned Underwater Vehicle (UUV) market, valued at $4.8 billion in 2024, is projected to grow to $11.1 billion by 2030, driven by increasingly complex maritime threats and the demand for cost‑effective, low‑risk technologies. As a result, ROVs, UUVs, and underwater drones are becoming critical components of modern defense strategies worldwide.” The Company’s full financial results, including its results for the SQ2026, are available at https://www.nasdaq.com/market-activity/stocks/coda/sec-filings . Conference Call CODA will host a conference call today, June 15, 2026, at 10:00 a.m. Eastern Time (7:00 a.m. Pacific Time) to discuss its results for its Fiscal Second Quarter ended April 30, 2026. CODA management will provide prepared remarks, followed by a question-and-answer period. Date: Monday, June 15, 2026 Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time) U.S. dial-in numbers: 1-877-451-6152 or 1-201-389-0879 International number: 1-201-389-0879 Conference ID: 13760471 The conference call will broadcast live and be available for replay here. Persons interested in attending are required to call the conference telephone number approximately 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please press *0. A replay of the call will be available after approximately 2:00 p.m. Eastern time on the same day through Monday, June 29, 2026 at 11:59 p.m. ET. Telephone replay numbers: 1-844-512-2921 or 1-412-317-6671 International replay number: 1-412-317-6671 Access ID: 13760471 About Coda Octopus Group, Inc. Coda Octopus Group, founded in 1994, is a leading provider of innovative solutions for the underwater and subsea markets. The Company develops and supplies a range of hardware and software technologies, including its proprietary real‑time 4D/5D/6D imaging sonars—marketed under the Echoscope®, Echoscope PIPE®, and Echoscope PIPE NANO Gen Series® brands—and its next‑generation Diver Augmented Vision Display (DAVD) system. The Echoscope PIPE® sonar produces real‑time 3D/4D/5D imagery of moving objects underwater, even in zero‑visibility conditions, and is used globally across commercial offshore and defense applications. These include complex underwater mapping, subsea intervention, asset placement, salvage and recovery, search and rescue, offshore renewable energy, marine construction, robotics, decommissioning, mine countermeasures, ship‑hull scanning, diving operations, and port and harbor security. The Company’s recently launched DAVD system has the potential to transform diving operations in both defense and commercial markets. DAVD integrates topside control with a diver‑worn heads‑up display, enabling shared visualization of the underwater environment and the exchange of critical information. By incorporating the Company’s sonar technology, DAVD also enables operations in zero‑visibility conditions—a longstanding challenge in the diving industry. Coda Octopus Group recently expanded its capabilities through the acquisition of Precision Acoustics Limited, a recognized leader in acoustic sensors and materials. Precision Acoustics specializes in hydrophone design and advanced acoustic materials for medical imaging and non‑destructive testing (NDT), supporting the assessment of structures such as aircraft, ship hulls, wellheads, and other subsea assets. The company also collaborates with national and international standards bodies, including the UK’s National Physical Laboratory, contributing to the development of primary measurement standards. The Group also includes two Defense Engineering Services businesses—Coda Octopus Martech Ltd (UK) and Coda Octopus Engineering, Inc. (U.S.)—which supply mission‑critical sub‑assemblies to major defense programs as subcontractors to prime contractors. Their work spans concept development, design, prototyping, manufacturing, and post‑delivery support, creating recurring revenue opportunities over the life of long‑term programs. For further information, please visit http://www.codaoctopusgroup.com or contact us at [email protected]. Forward Looking Statements This press release contains forward-looking statements concerning Coda Octopus Group, Inc. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “assume” and similar expressions are intended to identify forward‐looking statements. Those forward-looking statements include, without limitation, statements regarding the Company's expectations for the growth of the Company's operations and revenue. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, fluctuations in foreign exchange rates, changes in global economic condition, tariff and trade policies, reduction in government spending in the Defense Sector, customer demand, geopolitical issues, the outcome of our ongoing research and development efforts relating to our products including our patented real time 3D solutions or DAVD; our ability to develop the sales force required to achieve our development and other examples of forward looking statement set forth in our Annual Report on Form 10-K for the year ended October 31, 2025, filed with the Securities and Exchange Commission on January 29, 2026 as amended on our Form 10-K/A, filed with the Securities and Exchange Commission on February 29, 2026. Coda Octopus Group, Inc., does not undertake and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. Contact: Mr. Dillon King Coda Octopus IR Team at [email protected] Coda Octopus Group, Inc. 1- 407-735-2406 CODA OCTOPUS GROUP, INC.Consolidated Balance SheetsApril 30, 2026 and October 31, 2025 Audited CODA OCTOPUS GROUP, INC.Consolidated Balance Sheets (Continued)April 30, 2026 and October 31, 2025 Audited CODA OCTOPUS GROUP, INC.Consolidated Statements of Income and Comprehensive Income(Unaudited)

Orlando, FL, May 25, 2026 (GLOBE NEWSWIRE) -- Coda Octopus Group, Inc. (“CODA” or the “Company”) (NASDAQ: CODA), a global market leader in real-time 3D/4D/5D and 6D imaging sonar technology for real-time subsea intelligence and new generation augmented reality diving technology (“DAVD”), will host a conference call on Monday, June 15, 2026 at 10:00 a.m. Eastern time to discuss its results for its Fiscal Second Quarter 2026 ended April 30, 2026 (“SQ2026”). A press release detailing these results will be issued before the opening of trading on June 15, 2026. The Company’s management will provide prepared remarks, followed by a question-and-answer period. Date: Monday, June 15, 2026Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time)U.S. dial-in numbers: 1-877-451-6152 or 1-201-389-0879International number: 1-201-389-0879Conference ID: 13760471 The conference call will broadcast live and be available for replay here. Persons interested in attending are required to call the conference telephone number approximately 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please press *0. A replay of the call will be available after approximately 2:00 p.m. Eastern time on the same day through Monday, June 29, 2026 at 11:59 p.m. ET. Telephone replay numbers: 1-844-512-2921 or 1-412-317-6671International replay number: 1-412-317-6671Access ID: 13760471 About Coda Octopus Group, Inc. The Company, founded in 1994, is an established supplier to the underwater/subsea market. It supplies a range of hardware and software solutions which includes key proprietary real time 4D/5D/6D imaging sonars, marketed under the name Echoscope®, Echoscope PIPE® and Echoscope PIPE NANO Gen Series® addressing the underwater imaging sensor market along with new generation diving technology, known as the Diver Augmented Vision Display (“DAVD”) system. The Company’s Echoscope PIPE® sonar generates real-time 3D/4D/5D images of moving objects underwater including in zero visibility water conditions. Echoscope technology is used globally for numerous applications in both the commercial offshore market and defense underwater markets. Applications for the Echoscope® technology include complex mapping underwater, subsea intervention, subsea asset placements, salvage and recovery, search and rescue, offshore renewables cable installations and surveys, marine construction, subsea infrastructure installation, mining applications, robotics (3D Perception and Depth), breakwater construction and monitoring, decommissioning, diving applications and port and harbor security. The recently launched new generation of diving technology, DAVD, has the potential to change the way global diving operations are performed (both in the Defense and Commercial space) because it is a fully integrated singular system for topside control and fully connected diver HUD system, allowing both the topside and diver to share a range of critical information and visualize the same underwater scene. Furthermore, the DAVD integrates the Company’s sonar technology, which allows dive operations to be performed in zero visibility conditions, a common problem that besets these operations. The Company also includes two discrete Defense Engineering Services businesses Coda Octopus Martech Ltd (UK based) and Coda Octopus Engineering, Inc. (US based) whose primary business model is to supply sub-assemblies into broader mission critical programs in the capacity of sub-contractors to the Prime Defense Contractors. Their scope of supply under these programs typically includes concept, design, prototype, manufacturing, and post-sale support. This gives them the opportunity to have repeat orders for these sub-assemblies through the life of these programs. The Company recently acquired Precision Acoustics Limited, an acoustics sensor and materials business. PAL is a supplier of acoustic sensors and materials. PAL also performs calibration services for medical devices and is accredited to ISO/IEC 17025 standard. PAL is one of only two organizations in the United Kingdom with this certification, alongside the National Physical Laboratory (NPL). Globally, only a handful of facilities hold ISO/IEC 17025 accreditation for these measurements. Ultrasonic free-field sensitivity calibration is critical for markets that require precision ultrasonic measurement, strict safety compliance, and full metrological traceability. These include regulated and high-risk applications, such as diagnostic and therapeutic medical ultrasound and defense and underwater acoustics, where free-field calibration is essential to ensure accurate beam sensitivity and minimal interference. PAL’s operations are based in the United Kingdom. For further information, please visit http://www.codaoctopusgroup.com or contact us at [email protected]. Forward Looking StatementsThis press release contains forward-looking statements concerning Coda Octopus Group, Inc. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “assume” and similar expressions are intended to identify forward‐looking statements. Those forward-looking statements include, without limitation, statements regarding the Company's expectations for the growth of the Company's operations and revenue. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, fluctuations in foreign exchange rates, changes in global economic condition, tariff and trade policies, reduction in government spending in the Defense Sector, customer demand, geopolitical issues, the outcome of our ongoing research and development efforts relating to our products including our patented real time 3D solutions or DAVD; our ability to develop the sales force required to achieve our development and other examples of forward looking statement set forth in our Annual Report on Form 10-K for the year ended October 31, 2025, filed with the Securities and Exchange Commission on January 29, 2026 as amended on our Form 10-K/A, filed with the Securities and Exchange Commission on February 29, 2026. Coda Octopus Group, Inc., does not undertake and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. Contact: Mr. Dillon KingCoda Octopus IR Team at [email protected] Octopus Group, Inc. 1- 407-735-2406

This article first appeared on GuruFocus. Total Revenue: $6.7 million, up 28.8% from $5.2 million in Q1 2025. Marine Technology Business Revenue: $3.4 million, a 47.4% increase from $2.3 million in Q1 2025. Acoustics Sensors and Materials Business Revenue: $1.6 million, up 20.7% from $1.3 million in Q1 2025. Defense Engineering Services Business Revenue: $1.8 million, a 9.2% increase from $1.6 million in Q1 2025. Gross Profit: $4.4 million, compared to $3.4 million in Q1 2025. Consolidated Gross Margin: 65.1%, slightly down from 65.8% in Q1 2025. Marine Technology Business Gross Margin: 75.3%, up from 73.1% in Q1 2025. Acoustics Sensors and Materials Business Gross Margin: 66.8%, up from 61.7% in Q1 2025. Defense Engineering Services Business Gross Margin: 44.1%, down from 58.9% in Q1 2025. Operating Income: $1.0 million, a 52.6% increase from $0.6 million in Q1 2025. Operating Margin: 15.1%, up from 12.7% in Q1 2025. Net Income: $0.93 million or $0.08 per diluted share, compared to $0.91 million or $0.08 per diluted share in Q1 2025. Cash and Cash Equivalents: $30.5 million as of January 31, 2026, up from $28.7 million on October 31, 2025. Warning! GuruFocus has detected 5 Warning Sign with CODA. Is CODA fairly valued? Test your thesis with our free DCF calculator. Release Date: March 17, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Coda Octopus Group Inc (NASDAQ:CODA) reported a 28.8% increase in revenue for the first quarter of 2026 compared to the same period in 2025. The Marine Technology Business, a core segment, saw a 47.4% increase in revenue, driven by strong Echoscope sales, particularly in the Asia region. The company launched the NANO Gen Series, an ultra-small form 3D sonar, expanding its market reach in both large and small payloads. The Acoustics Sensors and Materials Business achieved a 20.7% increase in revenue with a higher gross profit margin of 66.8%. Coda Octopus Group Inc (NASDAQ:CODA) maintains a strong balance sheet with $30.5 million in cash and no debt as of January 31, 2026. The Defense Engineering Services Business experienced delays in receiving contract awards due to funding issues, impacting revenue growth. Gross margin for the Defense Engineering Services Business decreased to 44.1% from 58.9% due to changes in the mix of engineering projects. Operating expenses increased by 21.3%, primarily due to currency exchange rate fluctuations impacting costs. The company faces challenges in scaling its Echoscope sales to previous peak levels, with long gestation periods for defense programs being a significant barrier. The total addressable market for the DAVD technology in the U.S. remains uncertain due to ongoing price negotiations with the Navy. Q: Can you size the total addressable market in dollar terms in the U.S. for the DAVD? A: Annmarie Gayle, CEO: It's difficult to provide a precise number as it depends on the sale price accepted by the Navy. Historically, the military diving system has been priced at USD 50,000 per unit, but this is still under negotiation. Q: What is the timing for the unmanned underwater vehicle market to become a revenue opportunity for Coda? Are there any design wins? A: Annmarie Gayle, CEO: We expect to see small batches of the NANO Gen Series acquired in the third and fourth quarters under product improvement programs. These are not replacements but enhancements for existing vehicles. Q: Do you need to be part of a design win for new generation vehicles? When is the targeted date for these vehicles? A: Blair Cunningham, President of Technology: We are increasingly involved in early discussions for new platforms. Some platforms are in the design phase, and we expect initial sales beyond the fourth quarter as defense communities pivot to shorter design cycles. Q: How do rising oil prices impact demand for your products? A: Annmarie Gayle, CEO: Rising oil prices do not immediately impact demand for our products as development cycles are not that responsive to oil price changes. Q: Why hasn't the Marine Technology revenue returned to its peak levels from fiscal 2021? A: Annmarie Gayle, CEO: The commercial marine market remains strong, but growth requires integration into defense programs, which have long gestation periods. We are focusing on near-term opportunities through product improvement programs. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

ORLANDO, FL, March 17, 2026 (GLOBE NEWSWIRE) -- Coda Octopus Group, Inc. (“CODA” or the “Company”) (Nasdaq: CODA) a global market leader in real-time 4D/5D/6D imaging sonar technology for real-time subsea intelligence and cutting-edge diving augmented reality technology (DAVD), today reported its unaudited financial results for its fiscal first quarter ended January 31, 2026 (FQ2026). Annmarie Gayle, CODA’s Chairman and CEO, commented: “I am pleased with our overall results of operations in FQ2026, especially the increase in revenue by 28.8%. Notable factors in our FQ2026 are that all our business units increased revenue in the FQ2026 period. Our core business, the Marine Technology Business increased revenue by 47.4% or approximately $1m over the FQ2025 Period. In the FQ2026, this segment’s revenue mix had a bias towards Echoscope sales, reflecting an increase in sales from the strategic region of Asia by 63.4% to approximately $2.6m compared to $1.5m in the FQ2025. The numbers shown below have been rounded to one decimal point, unless two decimal points are required for clarity. The full FQ2026 financials can be found in CODA’s Form 10-Q filed with the SEC on March 17, 2026. Total revenue was approximately $6.7 million compared to $5.2 million in FQ2025, representing an increase of 28.8%. Revenue from our core business (Marine Technology Business) was $3.4 million compared to $2.3 million in FQ2025, representing a 47.4% increase. Revenue from our Defense Engineering Services Business was $1.8 million compared to $1.6 million in FQ2025, representing an increase of 9.2%. Revenue from the Acoustics Sensors and Material Business was $1.6 million compared to $1.3 million in FQ2025, representing an increase of 20.7%. Gross profit was $4.4 million compared to $3.4 million in FQ2025. Gross margin was 65.1% compared to 65.8% in FQ2026, reflecting the mix and geography of sales reported in the Period. Operating income was $1.0 million in FQ2026 compared to $0.7 million in F2026, representing an increase of 52.6%. Operating margin was 15.1% compared to 12.7% in FQ2025, reflecting the increase in our consolidated net revenue and increase in our gross profit. Pre-tax income was approximately $1.2 million in FQ2026 compared to $0.9 million in FQ2026, representing an increase of 26.9%. Net income after taxes was $0.93 million in FQ2026 compared to $0.91 million in FQ2025, an increase of 1.9%. Diluted earnings per share in FQ2026 was $0.08 compared to $0.08 in FQ2025. Pre-tax income as a percentage of revenues for FQ2026 was approximately 17.7% compared to 17.9% in FQ2025. Research and Development expenditures for FQ2026 were approximately $0.6 million compared to approximately $0.5 million in FQ2025, representing an increase of 11.6%. SG&A in FQ2026 was approximately $2.8 million compared to $2.2 million in FQ2025, representing an increase of 23.7%. Our cash balance at the end of FQ2026 of $30.4 million represents an increase of $1.8 million over October 31, 2025, when this figure was $28.7 million. Annmarie Gayle, CODA’s Chairman and CEO, commented: “Despite the uncertain global policy environment, I am pleased with our overall financial results in our FQ2026 and the diversification of our revenue structure. Our core business, the Marine Technology Business, sells its products and solutions worldwide and in the FQ2026, we saw a 31.0% increase in equipment sales which were $2,271,880 compared to $1,734,741 in the comparable FQ2025 period. We also saw an increase in rental demand from our European Rental Hub and equipment rental revenue increased by 232.8% or $746,957 compared to $224,443 in the comparable FQ2025 period. As we anticipated, DAVD sales were down as a result of delays in the finalization of fiscal year 2026 Defense spending appropriations and we are also waiting for the completion of the Approved Navy USE (ANU) assessment for the new generation of DAVD Untethered System (DUS) a pre-requisite for purchasing the DUS systems for use by the Navy divers. We therefore believe that fiscal year 2026 DAVD sales will be backended. With the completion in fiscal 2025 of the DUS Hardening Program where our focus was on research and development for the DUS for the Military market and under which we developed and released to the customer the new generation of DUS, our focus has now pivoted to business development around the broader global adoption of this disruptive technology with a focus on the European Navy sector. We are also very pleased with the opportunities we are seeing for our recently release Echoscope PIPE NANO GEN SERIES®. In the Current Quarter we continued with strong customer engagements in the form of trials and integration work.. In general, Echoscope currently accounts for approximately 80% of Marine Technology Business revenues. With the launch of the NANO GEN Series and strong ongoing customer engagement, we believe that we are well-positioned to capture significant value in the expanding Defense and underwater robotics markets. The NANO GEN SERIES of our sonars enable small platforms to enhance situational awareness and consolidate multiple sensors into a single power-efficient unit, delivering both real time 3D spatial awareness and forward-looking obstacle avoidance. Beyond subsea vehicle applications, the NANO GEN Series is also ideal for diver-wearable systems, diving platforms (highly synergistic with our DAVD solutions), and a wide range of underwater robotics. The Unmanned Underwater Vehicle (UUV) market, valued at $4.8 billion in 2024, is projected to reach $11.1 billion by 2030, driven by the growing complexity of maritime threats and the demand for cost-effective, low-risk technologies. As a result, ROVs, UUVs and underwater drones are becoming critical components of modern Defense strategies worldwide. The Company’s full financial results, including its results for the TQ2025, are available at www.nasdaq.com/symbol/coda/sec-filings. Conference Call CODA will host a conference call today, March 17, 2026, at 10:00 a.m. Eastern Time (7:00 a.m. Pacific Time) to discuss its results for its Fiscal First Quarter ended January 31, 2026. CODA management will provide prepared remarks, followed by a question-and-answer period. Date: Tuesday, March 17, 2026 Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time) U.S. dial-in numbers: 1-877-451-6152 or 1-201-389-0879 International number: 1-201-389-0879 Conference ID: 13758973 The conference call will broadcast live and be available for replay here. Persons interested in attending are required to call the conference telephone number approximately 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please press *0. A replay of the call will be available after approximately 2:00 p.m. Eastern time on the same day through Tuesday, March 31, 2026 at 11:59 p.m. ET. Telephone replay numbers: 1-844-512-2921 or 1-412-317-6671 International replay number: 1-412-317-6671 Access ID: 13758973 About Coda Octopus Group, Inc. The Company, founded in 1994, is an established supplier to the underwater/subsea market. It supplies a range of hardware and software solutions to this market which includes key proprietary real time 4D/5D/6D imaging sonars, marketed under the name Echoscope® and Echoscope PIPE® addressing the underwater imaging sensor market along with new generation augmented reality diving technology, Diver Augmented Vision Display (DAVD) system. The Company’s Echoscope PIPE® sonar generates real-time 3D/4D/5D images of moving objects underwater including in zero visibility water conditions. Echoscope technology is used globally for numerous applications in both the commercial offshore market and defense underwater markets. Applications for the Echoscope® technology include complex mapping underwater, subsea intervention, subsea asset placements, salvage and recovery, search and rescue, offshore renewables cable installations and surveys, marine construction, subsea infrastructure installation, mining applications, robotics (3D Perception and Depth), breakwater construction and monitoring, decommissioning, diving applications and port and harbor security. The recently launched new generation of diving technology, DAVD, has the potential to change the way global diving operations are performed (both in the Defense and Commercial space) because it is a fully integrated singular system for topside control and fully connected diver HUD system, allowing both the topside and diver to share a range of critical information and visualize the same underwater scene. Furthermore, the DAVD integrates the Company’s sonar technology, which allows dive operations to be performed in zero visibility conditions, a common problem that besets these operations. The Company acquired Precision Acoustics Limited in October 2025, an acoustics sensor and materials business and is a recognized leader in the ultrasound and acoustic measurement field. Specializing in acoustic hydrophone design and innovative acoustic materials, they provide a comprehensive range of products and solutions, with a primary focus on medical imaging and Non-Destructive Testing (NDT). NDT is used to validate the viability of structures such as aircraft, ship hulls, wellheads and other subsea structures. Their expertise extends to working closely with national and global standard-setting bodies (such as the National Physical Laboratory of the UK), contributing to the establishment of the primary measurement standards in the industry. They are also accredited to perform calibration services for medical devices and is accredited to ISO/IEC 17025 standard, and they are one of only two organizations in the United Kingdom with this certification, alongside the National Physical Laboratory (NPL). Globally, only a handful of facilities hold ISO/IEC 17025 accreditation for these measurements. Ultrasonic free-field sensitivity calibration is critical for markets that require precision ultrasonic measurement, strict safety compliance, and full metrological traceability. These include regulated and high-risk applications, such as diagnostic and therapeutic medical ultrasound, defense and underwater acoustics, where free-field calibration is essential to ensure accurate beam sensitivity and minimal interference. The Company also includes two discrete Defense Engineering Services Business, Coda Octopus Martech Ltd (UK based) and Coda Octopus Engineering, Inc. (U.S. based) whose primary business model is to supply sub-assemblies into broader mission critical programs in the capacity of sub-contractors to the Prime Defense Contractors. Their scope of supply under these programs typically includes concept, design, prototype, manufacturing, and post-sale support. This gives them the opportunity to have repeat orders for these sub-assemblies through the life of these programs. For further information, please visit http://www.codaoctopusgroup.com or contact us at [email protected]. Forward Looking Statements This press release contains forward-looking statements concerning Coda Octopus Group, Inc. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “assume” and similar expressions are intended to identify forward‐looking statements. Those forward-looking statements include, without limitation, statements regarding the Company's expectations for the growth of the Company's operations and revenue. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, fluctuations in foreign exchange rates, changes in global economic condition, tariff and trade policies, reduction in government spending in the Defense Sector, customer demand, geopolitical issues, the outcome of our ongoing research and development efforts relating to our products including our patented real time 3D solutions or DAVD; our ability to develop the sales force required to achieve our development and other factors that affect our business set forth in our Annual Report on Form 10-K for the year ended October 31, 2025, filed with the Securities and Exchange Commission on January 29, 2026 as amended on our Form 10-K/A, filed with the Securities and Exchange Commission on February 26, 2026, and in our Quarterly Report on Form 10-Q for the quarter ended January 31, 2026 filed with the Securities and Exchange Commission on March 17, 2026. Coda Octopus Group, Inc., does not undertake and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. Contact: Mr. Dillon King Coda Octopus IR Team at [email protected] Coda Octopus Group, Inc. 1- 407-735-2406 CODA OCTOPUS GROUP, INC. Consolidated Balance Sheets January 31, 2026 and October 31, 2025 CODA OCTOPUS GROUP, INC. Consolidated Balance Sheets (Continued) January 31, 2026 and October 31, 2025 CODA OCTOPUS GROUP, INC. Consolidated Statements of Income and Comprehensive Income (Unaudited)

Q1 FY26 results were strong: revenue rose 28.8% to $6.7M and operating income increased 52.6% to $1.0M, driven by a 47.4% jump in marine technology revenue and a 232.8% rise in rental income. Technology and defense momentum: the DAVD untethered system is in Navy safety qualification with authorization expected in Q2 FY26 and NanoGen 3D sonars are slated for initial defense-funded fleet assessments in Q3, although defense engineering services face delays from continued-resolution funding that can slow contract awards. Strong balance sheet and M&A focus: the company finished the quarter with $30.5M cash and no debt, and management is pursuing acquisitions to shift marine technology toward multi-year, program-based revenue streams. Interested in Coda Octopus Group Inc.? Here are five stocks we like better. Coda Octopus Group (NASDAQ:CODA) reported first-quarter fiscal 2026 results showing higher revenue and operating income, driven primarily by growth in its marine technology business and improved rental utilization. Management also highlighted ongoing efforts to expand adoption of its core technologies—its Echoscope real-time 3D imaging sonar and Diver Augmented Vision Display (DAVD) system—particularly in defense markets. For the quarter ended Jan. 31, 2026, Coda Octopus reported total revenue of $6.7 million, up from $5.2 million in the prior-year period, an increase of 28.8%. → Data Storage to Data Intelligence: Everpure's Big AI Era Rebrand Interim CFO Gayle Jardine said gross profit rose to $4.4 million from $3.4 million a year earlier. Consolidated gross margin was 65.1%, compared with 65.8% in the first quarter of fiscal 2025. Jardine attributed the slight decline in consolidated margin to the revenue mix from the defense engineering services business. Operating income increased to $1.0 million from $0.6 million, an increase of 52.6%, while operating margin improved to 15.1% from 12.7%. Pre-tax income was $1.2 million versus $0.9 million a year ago. → Dollar Tree Planted the Seeds for Triple-Digit Gains in Q4 Net income after taxes was $0.93 million, or $0.08 per diluted share, compared with $0.91 million, also $0.08 per diluted share, in the year-ago quarter. The company recorded a tax expense of $0.3 million versus $0.05 million in the prior-year period. CEO Annmarie Gayle said the company’s business comprises three operations: marine technology (its “core” business), defense engineering services, and acoustics sensors and materials. She said the marine technology unit generated 50% of consolidated net revenue in the first quarter and is the foundation of the company’s growth strategy. → The S&P 500's 3 Best-Performing Stocks So Far in 2026 The marine technology business posted revenue of $3.4 million, up from $2.3 million, representing 47.4% growth. Management cited several drivers: Hardware sales rose 31% to $2.3 million from $1.7 million, with a “strong focus” on Echoscope sales from Asia. Rental asset utilization improved, lifting rental revenue by 232.8% to approximately $0.7 million compared with approximately $0.2 million in the prior-year quarter. Marine technology gross margin increased to 75.3% from 73.1%, which Jardine said was largely due to the increase in rental sales. Gayle described the Echoscope as a real-time, 3D volumetric imaging sonar that can generate three-dimensional imagery underwater in zero-visibility conditions, and said a “significant part” of annual revenue is derived from the commercial offshore marine market. She added that, to achieve the growth shareholders want, the company aims to increase its market share for underwater imaging sensors in defense programs where new classes of underwater vehicles are being adopted. The defense engineering services business generated revenue of $1.8 million, up from $1.6 million, a 9.2% increase. Gayle said the unit has long-standing relationships with prime defense contractors and has served the defense market for more than 48 years, but is reliant on funding under defense programs. She said many defense programs are being funded through continuing resolutions, which in practical terms reduces funding available for programs and has led to delays in contract awards. Although a federal budget is in place, Gayle said line-item appropriations were still pending and continued to impact the business. Jardine reported defense engineering services gross margin decreased to 44.1% from 58.9% a year ago, reflecting a change in the mix of engineering projects during the quarter. The acoustics sensors and materials business reported revenue of $1.6 million, up from $1.3 million, an increase of 20.7%. Gross margin rose to 66.8% from 61.7%, which Jardine said reflected the mix of sales. Gayle said management continued to be “very pleased” with the unit’s performance. President of Technology Blair Cunningham focused his remarks on milestones to expand market share for the company’s underwater technologies, particularly the DAVD untethered variant and its next-generation ultra-small form factor 3D sonars, the NanoGen series. Cunningham said the DAVD untethered variant represents the largest market opportunity for the technology. He cited an estimate of approximately 14,000 divers across the U.S. government and defense community as potential users of the DAVD untethered system. He said the company completed a hardening program for DAVD untethered in fiscal 2025 and delivered the first batch of the new generation system to a Navy customer, enabling the Navy to begin safety qualification. Management said it is awaiting authorization for Navy use (ANU) assessment completion and is hopeful that approval will be concluded in the second quarter of fiscal 2026. Cunningham also said the company is on schedule to perform DAVD site acceptance test training with a “key European Navy” in the second quarter, which management expects could be a precursor to broader adoption discussions. On NanoGen, Cunningham said the company is seeing “strong global momentum” and expects initial adoption to begin in the third quarter through “defense-funded product improvement programs,” with small initial quantities for fleet assessment. On the call, Gayle and Cunningham also indicated expectations for small batches in the third and fourth quarters tied to these programs. During Q&A, an analyst asked management to size the total addressable market in dollar terms for DAVD in the U.S. Gayle said it was difficult to provide a number because it depends on the sale price accepted by the Navy and that pricing was still being negotiated. She noted that in the past, the company had provided the military diving system at $50,000 per unit, while also emphasizing that pricing would depend on customer acceptance. Asked about what has held back Echoscope sales from scaling to prior peaks, Gayle pointed to the company’s reliance on the commercial offshore marine market for “bread and butter” revenue and said the pathway to multiple recurring sales is winning positions on multi-year defense programs, which can take a long time to mature. She said the company is particularly focused on nearer-term opportunities under product improvement programs and also cited “pull through” Echoscope sales associated with the DAVD product line. Separately, in response to a question about whether rising oil prices were affecting demand, Gayle said the development cycle is not that responsive and that the company was not seeing increased demand based on near-term oil price movements. On the balance sheet, Jardine said the company ended the quarter with $30.5 million in cash and cash equivalents and no debt, up $1.8 million from Oct. 31, 2025. Total assets increased by $1.1 million to $65.6 million. In closing remarks, Gayle reiterated management’s intent to continue pursuing an M&A strategy in fiscal 2026 and said the company is “very keen” to close another acquisition during the year. She also said the company aims to pivot the marine technology revenue model toward multi-year, program-based adoption supporting multiple sales over the life of major programs. Coda Octopus Group, Inc is a technology company that develops and sells real-time 3D sonar systems and related solutions for underwater applications. Its flagship Echoscope® real-time 3D sonar system enables clients to visualize subsea structures and seabed conditions in unprecedented detail. The company's product portfolio also includes BathyCORR® geophysical survey processing software, a range of ROV and USV inspection tools, and advanced subsea positioning and motion reference units. These technologies support tasks such as inspection, maintenance, salvage, survey, and security in challenging marine environments. The company serves a broad set of industries, including offshore oil and gas, marine mining, defense, civil engineering, telecommunications, and scientific research. The article "Coda Octopus Group Q1 Earnings Call Highlights" was originally published by MarketBeat.