---
title: "Coda Octopus Group, Inc. 3Q 2026: Revenue $6.9M, Net income $1.7M — 10-Q Summary"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289773476.md"
description: "Coda Octopus Group reported Q3 2026 revenue of $6.9M and net income of $1.7M. While marine product sales fell 26.8%, equipment rental revenue surged 351%, shifting the business toward higher-margin services. Consolidated gross margin improved to 66.3%. Geopolitical tensions in the Middle East reduced orders, while R&D spending shifted toward Defense and PAL innovation."
datetime: "2026-06-15T11:11:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289773476.md)
  - [en](https://longbridge.com/en/news/289773476.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289773476.md)
---

# Coda Octopus Group, Inc. 3Q 2026: Revenue $6.9M, Net income $1.7M — 10-Q Summary

Coda Octopus Group, Inc. reported results for the third quarter ended April 30, 2026, with revenue of $6.9M and consolidated net income of $1.7M as the company saw a shift toward higher-margin services and rental revenues despite a decline in marine product sales.

**Financial Highlights**

-   Revenue was $6.90M for Q3 2026 (quarter ended Apr 30, 2026), down 1.6% versus the prior quarter.
-   Net income was $1.70M for Q3 2026 (consolidated net income), up 86.8% versus the prior quarter.
-   Diluted earnings per share: Not reported in Part I Item 2.

**Business Highlights**

-   Revenue mix shifted as marine product sales fell 26.8% quarter-over-quarter, while Services and PAL revenues grew, moving the business toward services and rentals.
-   Equipment rental revenue surged 351% quarter-over-quarter (and 283.6% year-over-year for the six-month period), increasing utilization and recurring revenue.
-   Consolidated gross margin improved to 66.3%, driven by the higher rental mix and lower commission expense.
-   Geopolitical disruption tied to the Iran conflict and Strait of Hormuz reduced orders in the Middle East and Asia and delayed some contract awards.
-   R&D spending was rebalanced: reduced in Marine Technology while increasing materially in Defense (Thermite® Octal) and PAL innovation.

Original SEC Filing: Coda Octopus Group, Inc. \[ CODA \] - 10-Q - Jun. 15, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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