Coda Stock Gains On Q1 Earnings: Double Beat, Cash Strengthens

Coda Octopus Group, Inc. (NASDAQ: CODA) reported first-quarter earnings with an EPS of 8 cents, surpassing the consensus estimate of 6 cents, and revenue of $6.71 million, exceeding expectations of $6.22 million. Marine Technology revenue increased by 47.4% to $3.4 million, while Defense Engineering Services and Acoustics Sensors and Material revenues also saw growth. The company's cash and cash equivalents rose to $30.4 million from $28.7 million in the previous period. Following the earnings report, Coda shares climbed 4.11% to $14.18.