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Coda Octopus Group (CODA) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Sep 14, 2026 · Coda Octopus Group (CODA) Q3 FY26 earnings results →

Q3 FY26 Revenue up 9% year over year to $7.7M · 18¢ of every $1 of revenue kept as net profit · operating margin 19.9%

Coda Octopus Group made $7.7M in Q3 FY26 (+9% Y/Y): Equipment Sales $3.8M, Engineering Parts $2.6M, Equipment Rentals $704K. Operating margin 19.9%, net earnings $1.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 14, 2026.

Revenue$7.7M
Year over year+9%
Operating margin19.9%
Net earnings$1.4M
Operating cash flow$1.4M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $7.7M in Q3 FY26, up 9% year over year and up 12% from the previous quarter. Equipment Sales was the largest line at 49% of revenue. Engineering Parts added $1.5M year over year (up 134%), 226% of the total change. Software Sales declined 60%.

Gross margin was 65.4%, down 2.8 points from Q3 FY25. Operating profit was $1.5M, a 19.9% margin (up 0.3 points year over year). Of the extra revenue versus Q3 FY25, 23% reached operating profit, above the 20% margin then. Operating expenses grew 2% against revenue growth of 9%. The fastest-growing cost line was Research & development (+27%). Net earnings were $1.4M, up 8% year over year. The effective tax rate was 22.4%.

Operating cash flow was $1.4M (down 37% year over year), 100% of net earnings. Non-cash charges added back $363K of depreciation and amortization and $26K of share-based compensation. Working capital and other items used $396K. Capital expenditures of $162K left free cash flow of $1.2M.

Quarterly history

Coda Octopus Group revenue by quarterCoda Octopus Group revenue by quarter$5.1MQ4 FY24$7.0MQ2 FY25$7.1MQ3 FY25$7.3MQ4 FY25$6.7MQ1 FY26$6.9MQ2 FY26$7.7MQ3 FY26
Coda Octopus Group net earnings by quarterCoda Octopus Group net earnings by quarter$326KQ4 FY24$909KQ2 FY25$1.3MQ3 FY25$1.0MQ4 FY25$931KQ1 FY26$1.7MQ2 FY26$1.4MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QSep 14, 2026$7.7M+9%19.9%$1.4M$1.4M
Q2 FY2610-QJun 15, 2026$6.9M-2%26.0%$1.7M$570K
Q1 FY2610-QMar 17, 2026$6.7M+29%15.1%$931K$1.5M
Q4 FY2510-KJan 29, 2026$7.3M+44%19.3%$1.0M$2.9M
Q3 FY2510-QSep 15, 2025$7.1M+29%19.5%$1.3M$2.2M
Q2 FY2510-QJun 16, 2025$7.0M+32%15.5%$909K$1.5M
Q4 FY2410-KJan 29, 2025$5.1M+42%5.7%$326K$2.0M

Charts

Coda Octopus Group: revenue growth, year over year and quarter over quarterCoda Octopus Group: revenue growth, year over year and quarter over quarterY/YQ/Q+42%Q4 FY24+32%+39%Q2 FY25+29%+1%Q3 FY25+44%+3%Q4 FY25+29%-8%Q1 FY26-2%+3%Q2 FY26+9%+12%Q3 FY26
Latest (Q3 FY26): Y/Y +9%, Q/Q +12%.
Coda Octopus Group: where the cash came from (+) and went (−), TTM to Q3 FY26Coda Octopus Group: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$6.3MCash drawn (+) / kept (−)−$5.5MCapital spending−$731KExchange rates−$154KOther investing$84KNot reconciled−$14K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Coda Octopus Group: profit against cash, quarter by quarterCoda Octopus Group: profit against cash, quarter by quarterNet incomeOperating cash flow$326K$2.0MQ4 FY24$913K$642KQ1 FY25$909K$1.5MQ2 FY25$1.3M$2.2MQ3 FY25$1.0M$2.9MQ4 FY25$931K$1.5MQ1 FY26$1.7M$570KQ2 FY26$1.4M$1.4MQ3 FY26
Latest (Q3 FY26): Net income $1.4M, Operating cash flow $1.4M.
Coda Octopus Group: diluted shares by fiscal yearCoda Octopus Group: diluted shares by fiscal year11MFY2011MFY2111MFY2211MFY2311MFY2411MFY25
-0.4% since FY20: buybacks shrank the count.
Coda Octopus Group in its industry: growth against margin (11 companies, SIC 3812)Coda Octopus Group in its industry: growth against margin (11 companies, SIC 3812)revenue growth, year over year →↑ operating marginmedian +9%median 11%NOCLHXGRMNTDYDRSLUNRLYNXMINDNNAERGCODA (+9%, 20%)
Search, Detection, Navigation, Guidance, Aeronautical Sys; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Coda Octopus Group

Coda Octopus Group, Inc. (“Coda” “the Company” or “we”), through its wholly owned subsidiaries, operates three distinct segments: Our Marine Technology Business provides technology solutions to the underwater market and constitutes our core business. We are allocating most of our resources to this segment. It owns key proprietary and unique technology comprising its real time volumetric imaging sonar technology (Echoscope ® technology) and diving technology (“DAVD” (Diver Augmented Vision Display)), both of which are intended for the underwater market, and which are used in the commercial offshore and defense sectors. It also sells other proprietary subsea products such as its geophysical hardware and software solutions, inertial navigation systems and digital audio communications system for underwater applications.

In its own words, from its 10-K, filed Jan 29, 2026.

Coda Octopus Group against its Search, Detection, Navigation, Guidance, Aeronautical Sys peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +9% against the peers' median +9%. Operating margin: 19.9% against the peers' median 11.4%.

CompanyQuarterRevenueY/YOp. margin
CODA Coda Octopus GroupQ3 FY26$7.7M+9%19.9%
NOC Northrop GrummanQ3 2026$11.1B+7%11.4%
LHX L3Harris TechnologiesQ3 2026$6.1B+7%13.0%
GRMN GarminQ3 2026$2.0B+12%30.8%
TDY Teledyne TechnologiesQ3 2026$1.7B+9%20.6%
DRS Leonardo DRSQ3 2026$1.1B+11%10.9%
LUNR Intuitive MachinesQ2 2026$206M+310%-22.9%
LYNX LyntrisQ3 2026$194M+90%5.7%
MIND Mind TechnologyQ2 FY27$5.6M-58%-31.9%

Source: Coda Octopus Group 10-Q on SEC EDGAR · CIK 1334325 · Search, Detection, Navigation, Guidance, Aeronautical Sys

13F: who owns CODA and who is buying

Largest holders of CODA (13F)Largest holders of CODA (13F)Essex Investment Management Co LLC$3.4MVanguard Group$2.8MMarshall Wace, LLP$2.6MMeros Investment Management, LP$2.5MVanguard Capital Management LLC$2.2MAcadian Asset Management LLC$1.4MArchon Capital Management LLC$1.4MRound Rock Advisors, LLC$1.1MLegato Capital Management LLC$1.1MDimensional Fund Advisors LP$1.1M
Funds' net buying of CODA by quarter (13F)Funds' net buying of CODA by quarter (13F)−$30K2024-09$159K2024-12−$413K2025-03−$788K2025-06−$3.5M2025-09$3.7M2025-12$10.2M2026-03$1.4M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CODA

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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