Navy ramps up unmanned systems weapons tests, calls for industry push
The Navy this month undertook two groundbreaking weapons systems tests, which were followed by an announcement for a planned Future Unmanned Surface Vessel Industry Day in June to 'to accelerate the development and procurement of future USVs.'
The Navy's Strategic Systems Programs on May 2 conducted the first sea-based cold-gas launch approach of its Conventional Prompt Strike, or CPS, hypersonic missile.
Unlike in hot launch methods, in which the projectile motor ignites in the launch silo before flying towards its target, the cold-gas technique sees the missile launch first before the first stage of ignition.
This method, according to the Navy, will become the standard for launching hypersonic missiles from ships at sea.
'The cold-gas approach allows the Navy to eject the missile from the platform and achieve a safe distance above the ship prior to first stage ignition,' said Vice Adm. Johnny Wolfe, director of Strategic Systems Programs.
The test of the CPS missile was followed by the first-ever launch of a Solid Fuel Integral Rocket Ramjet (SFIRR) from an unmanned aerial vehicle operated by the U.S. Naval Air Warfare Center Weapons Division.
The unmanned vehicle launch test also tested live firing control on a BQM-34 target vehicle, demonstrating maneuverability, control and long-range accuracy.
'This successful integration validates key aspects of our design and moves us closer to delivering an advanced propulsion system that will provide warfighters with greater range and speed,' said Abbey Horning, product director of NAWCWD's Advanced Concepts, Prototyping and Experimentation office, in a release. 'We're not just revisiting an old idea; we're refining and modernizing it to fit today's mission,'
With the Navy seeking to strengthen its existing fleet with the inclusion of unmanned vessels, it is scheduled to host an industry day in Washington on June 17 for the Future Unmanned Surface Vessel Program.
The craft showcased will be 'an open ocean, 25+ knot, high endurance, non-exquisite, autonomous vessel,' which will also be 'built to commercial standards,' according to a special notice.
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Yahoo
16-06-2025
- Yahoo
Cyolo Unveils Major New Capabilities, Expanding Secure Remote Access Coverage for OT and Cyber-Physical Systems
New capabilities help eliminate blind spots and extend secure, identity-based access across operational environments without disrupting workflows—helping secure every remote session, application, and device connected to critical infrastructure TEL AVIV, Israel, June 16, 2025--(BUSINESS WIRE)--Cyolo, the leading provider of secure remote privileged access for operational technology (OT) and cyber-physical systems (CPS), has announced the launch of several major new capabilities, headlined by Cyolo Third-Party VPN Control (patent pending). This groundbreaking capability within the company's Cyolo PRO (Privileged Remote Operations) solution delivers visibility and access control for enforced third-party VPN and direct connections without requiring changes to production infrastructure or vendor workflows. In today's increasingly connected industrial environments, even organizations with mature security programs face a critical blind spot: third-party connections they cannot govern or even see. Some vendors insist on using their own legacy VPNs, site-to-site tunnels, or proprietary 'black box' gateways on OT networks, forcing plant managers and industrial operators to accommodate external methods that operate outside of their control. These opaque and unmanaged pathways pose significant risks, leaving organizations unaware of who is connecting, when, where, and what activities are occurring inside their most sensitive networks. The new Third-Party VPN Control capability helps close this gap by enabling visibility and access policy enforcement, even when externally managed VPNs or hardware gateways are used. This Cyolo PRO release includes additional enhancements, each tailored to address critical access and collaboration needs in cyber-physical environments: Instant Collaboration Link: A browser-based, one-time secure link, enabling session owners to invite multiple external participants, i.e., vendors, auditors and engineers into RDP, SSH, or VNC sessions including security controls without agent installations. Secure Remote Assistance: Native, secure technical support for both user-initiated and helpdesk-initiated assistance sessions, allowing organizations to deliver timely support while maintaining complete security and operational governance. Asset Access Hub: Provides a comprehensive view of assets across various business contexts (e.g., function, vendor) and technical attributes (e.g., IP address, zone, access status). This empowers administrators to manage access based on relevant context and quickly assign accurate, role-based permissions. As always, Cyolo PRO integrates seamlessly with legacy remote connectivity setups and supports Zero Trust principles by segmenting access. "In today's virtual environments, third-party vendors are essential for the unbroken continuity of industrial operations and critical infrastructure—both vital for the economy and national security. However, third-party access methods too often introduce unacceptable risks," said Almog Apirion, CEO and Co-Founder of Cyolo. "We are always thinking about the real-world challenges our customers face and endlessly innovating to solve those problems. This latest advance represents the next step in the transformation of OT and CPS access, making it more agile, secure, and seamless for administrators and end users, without forcing vendors to change the tools they rely upon." With these advanced new capabilities, organizations gain: Zero Trust for VPNs: Segments and restricts third-party access for approved assets, reducing lateral movement risk. Access Visibility: Real-time visibility into incoming access sessions. Compliance-Ready Architecture: Aligns with NERC CIP, ISA/IEC 62443, ISA99, and NIST 800-82 standards. Broad Compatibility: Integrates with all legacy remote connectivity suppliers. To learn more about Cyolo PRO's new Third-Party VPN Control and full range of capabilities, visit About Cyolo Cyolo provides secure remote privileged access for cyber-physical systems. The Cyolo PRO (Privileged Remote Operations) solution enables industrial enterprises to connect employees and third-party vendors to critical assets in ways that are secure, safe, and surprisingly simple. Cyolo offers stronger security and more control than traditional secure remote access (SRA), while simultaneously improving operational agility and productivity. Cyolo PRO adapts to any environment, deploys without disruptions or infrastructure changes, and offers capabilities such as privileged access controls, zero-trust connectivity, identity-based access for legacy systems, and centralized management across multiple sites. Former CISO Almog Apirion co-founded Cyolo in 2020. Frustrated by the limitations of existing SRA tools, he joined forces with industry veterans to build a solution that meets the distinctive access needs of OT environments and cyber-physical systems. With headquarters in Israel and a strong presence in the US and EMEA, Cyolo's network of employees, customers, and partners stretches around the world. To learn more, visit View source version on Contacts Media contact Gabi BenedykHeadline Mediagabi@ IL: +972 58 484 7380 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-06-2025
- Yahoo
Coda Octopus Group Reports Fiscal Second Quarter 2025 Financial Results
ORLANDO, FL, June 16, 2025 (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 technology, today reported its unaudited financial results for its fiscal second quarter ended April 30, 2025 (SQ2025). Annmarie Gayle, CODA's Chairman and CEO, commented: 'I am pleased with our overall results of operations in SQ2025 especially the increase in revenue by 31.8%. Despite the fluid global policy setting environment, we continue to invest in our growth strategy and have made good progress under the DAVD Program. In the SQ2025 we received orders for DAVD tethered system having a contract value of $1.53m. These new DAVD systems will be distributed to additional commands thereby increasing the user base to around 12 Navy Commands. We believe that this will propel the DAVD's broader adoption. We are also pleased to see that the continued customer adoption model under the DAVD Program includes the Echoscope® real time 3D Volumetric Imaging Sonar, paving the way for long tail recurring revenue under this program. Looking forward to other key milestone, during our third fiscal quarter 2025, we expect to deliver 16 DAVD untethered system (DUS) for integration into the MK16 Underwater Breathing Apparatus (UBA) system for SPECWAR and EOD applications. We believe this to be the pre-cursor to broader adoption once the system evaluation is completed . The DUS is the largest addressable market for the DAVD technology. For example, 75% of the U.S. Navy's 4,000 active divers, use Full-Face Mask untethered systems, which aligns with the DUS solution. Similarly, the majority of Public Safety and Law Enforcement divers in the U.S.—an estimated 10,000 divers—use the same Full-Face mask dive systems. As mentioned previously, the DAVD technology is the subject of various evaluation programs. Recent assessment as to the state of readiness of the technology from several major defense field trials on the DAVD confirms its its effectiveness in dive operations. The report also emphasized the benefits and critical nature of combining the DAVD with Echoscope in low visibility environments – again giving us good insight that the full-scale adoption by user groups is likely to include Echoscope, thus expanding the opportunities for the Company. As a result, in this year alone, we have 5 DAVD related development projects where various other sensors are being integrated into the DAVD to ensure that all US Defense sensors used by various missions are compatible with the DAVD. We believe we have created the DAVD solution ecosystem which is well positioned to serve the global defense and commercial diving market. The Echoscope® was part of the ongoing assessment for the defense market and this report concluded that this technology represents a notable improvement over existing solutions and offers a new capability for detailed underwater imaging and object detection. The numbers shown below have been rounded to one decimal point, unless two decimal points are required for clarity. The full SQ2025 financials can be found in CODA's Form 10-Q filed with the SEC on June 16, 2025. Total revenue was approximately $7.0 million compared to $5.3 million in SQ2024, representing an increase of 31.8%. Revenues from our core business (Marine Technology Business) were $3.9 million compared to $3.5 million in SQ2024, representing a 10.0% increase. Revenues from our Marine Engineering Business were $1.84 million compared to $1.80 million in SQ2024, representing a 2.3% increase. Revenues from the Acoustics Sensors and Material segment were $1.3 million in SQ2025 (no prior comparative data is available as this business unit was acquired on October 29, 2024). Gross profit was $4.5 million compared to $3.7 million in SQ2024. Gross margin was 64.1% compared to 70.2% in SQ2024, reflecting lower gross profit margins from our core business in conjunction with the mix and geography of sales reported in the period. Operating income was $1.1 million in SQ2025 compared to $1.4 million in SQ2024, a reduction of 19.5%. Operating margin was 15.5% compared to 25.4% in SQ2024, driven by the increase in Selling, General and Administrative costs and the addition of the Acoustics Sensor and Material Business. Pre-tax income was approximately $1.3 million in SQ2025 compared to $1.6 million in SQ2024, representing a decrease of 22.9%. Net income after taxes was $0.9 million in SQ2025 compared to $1.4 million in SQ2024, a decrease of 35.8%. Diluted earnings per share in SQ2025 was $0.08 compared to $0.13 in SQ2024. Pre-tax income as a percentage of revenues for SQ2025 was approximately 18.0% compared to 30.8% in SQ2024. Research and Development expenditures for SQ2025 were approximately $0.7 million, an increase of 27.2%, compared to approximately $0.5 million in SQ2024. SG&A in SQ2025 was approximately $2.7 million, an increase of 47.4% over $1.8 million in SQ2024. The income statement comparisons to the corresponding period last year (SQ2024) do not include the Acoustics Sensors and Materials segment. Our cash balance at the end of SQ2025 of $24.5 million represents an increase of $2.0 million over October 31, 2024, when this figure was $22.5 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 SQ2025 and the diversification of our revenue structure. In our SQ205 all business units increased revenue. Our core business, the Marine Technology Business, sells its products and solutions worldwide and in the SQ2025, we saw a 65.5% increase in equipment sales which were $3,319,322 compared to $2,005,128 in the comparable SQ2024 period. However, we also saw an underutilization of our rental assets, which led to rental revenue decreasing by 75.9% and which were $168,791 compared to $699,664 in the comparable SQ2024 period, reflecting the reduction in offshore renewable projects as a result of the change in U.S. Administration energy policy. Notwithstanding the change in the U.S policy on renewables, we believe that its new policy on prioritizing domestic energy production of Oil & Gas (O&G) favors our products and solutions. We further believe that the transition to O&G will in the foreseeable future offset any reduction of revenue from US offshore renewables which we may experience. Furthermore, a key part of our strategy as a Group relies on Defense spending. Defense budgets are set to increase in Europe and the United Kingdom, which favors our business and, in the SQ2025 we saw an increase in the pipeline of opportunities both in the U.S and the UK. Of note, we also saw opportunities to work directly with the U.S. Department of Defense (as opposed to through Prime Defense Contractors), which, in itself, is expected to create new opportunities . The Company's full financial results, including its results for the SQ2025, are available at Conference Call CODA will host a conference call today, June 16, 2025, at 10:00 a.m. Eastern Time (7:00 a.m. Pacific Time) to discuss its results for the fiscal quarter ended April 30, 2025. CODA management will provide prepared remarks, followed by a question-and-answer period. Date: Monday, June 16, 2025 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: 13753929 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 June 30, 2025 at 11:59 p.m. Telephone replay numbers: 1-844-512-2921 or 1-412-317-6671 International replay number: 1-412-317-6671 Access ID: 13753929 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 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 recently acquired Precision Acoustics Limited, an acoustics sensor and materials business. This Company 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. The Company also includes two discrete Defense engineering businesses Coda Octopus Martech Ltd (UK based) and Coda Octopus Colmek, 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 or contact us at coda@ 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, restrictions on our business operations due to the Pandemic, customer demand for our products and market prices; the outcome of our ongoing research and development efforts relating to our products including our patented real time 3D solutions; 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, 2024, filed with the Securities and Exchange Commission on January 29, 2025, and the subsequently filed 10-Qs and 8-Ks. 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, unless required by law. Contact: Coda Octopus Group, Inc. 1- 407-735 2406 CODA OCTOPUS GROUP, Balance SheetsApril 30, 2025 and October 31, 2024 2025 2024 Unaudited ASSETS CURRENT ASSETS Cash and Cash Equivalents $ 24,462,301 $ 22,479,072 Accounts Receivable, net 4,720,117 3,493,463 Inventory 13,527,744 13,975,529 Unbilled Receivables 2,370,530 1,657,827 Prepaid Expenses 842,252 537,289 Other Current Assets 393,273 838,835 Total Current Assets 46,316,217 42,982,015 FIXED ASSETS Property and Equipment, net 6,801,586 6,822,990 Right of Use Assets 403,228 413,171 Total Fixed Assets 7,204,814 7,236,161 OTHER ASSETS Goodwill 3,639,334 3,639,334 Intangible Assets, net 3,429,779 3,687,034 Total Other Assets 7,069,113 7,326,368 Total Assets $ 60,590,144 $ 57,544,544 CODA OCTOPUS GROUP, Balance Sheets (Continued)April 30, 2025 and October 31, 2024 2025 2024 Unaudited LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts Payable $ 882,988 $ 1,034,488 Current portion of operating lease liabilities 35,863 32,298 Accrued Expenses and Other Current Liabilities 1,450,573 1,604,596 Deferred Revenue 1,877,350 1,225,634 Total Current Liabilities 4,246,774 3,897,016 LONG TERM LIABILITIES Deferred Tax Liability, net 41,855 82,011 Non-current operating lease liabilities 385,819 380,873 Deferred Revenue, less current portion 27,199 56,121 Total Long Term Liabilities 454,873 519,005 Total Liabilities 4,701,647 4,416,021 Commitments and contingencies STOCKHOLDERS' EQUITY Common Stock, $.001 par value; 150,000,000 shares authorized, 11,232,514 issued and outstanding as of April 30, 2025 and 11,195,487 shares issued and outstanding as of October 31, 2024 11,233 11,195 Preferred Stock $.001 par value; 5,000,000 shares authorized, zero issued and outstanding as of April 30, 2025 and October 31, 2024 - - Treasury Stock (61,933 ) (61,933 ) Additional Paid-in Capital 63,262,929 63,096,583 Accumulated Other Comprehensive Loss (1,738,978 ) (2,510,831 ) Accumulated Deficit (5,584,754 ) (7,406,491 ) Total Stockholders' Equity 55,888,497 53,128,523 Total Liabilities and Stockholders' Equity $ 60,590,144 $ 57,544,544 CODA OCTOPUS GROUP, Statements of Income and Comprehensive Income(Unaudited) Three Months Ended April 30, Six Months Ended April 30, 2025 2024 2025 2024 Net Revenues $ 7,017,459 $ 5,323,178 $ 12,227,174 $ 9,784,369 Cost of Revenues 2,520,178 1,584,744 4,301,423 2,959,199 Gross Profit 4,497,281 3,738,434 7,925,751 6,825,170 OPERATING EXPENSES Research & Development 689,995 542,481 1,233,121 1,028,458 Selling, General & Administrative 2,719,602 1,845,570 4,942,924 3,890,945 Total Operating Expenses 3,409,597 2,388,051 6,176,045 4,919,403 INCOME FROM OPERATIONS 1,087,684 1,350,383 1,749,706 1,905,767 OTHER INCOME Other Income (Expense) 32,332 (2,636 ) 110,999 32,384 Interest Income 145,594 293,468 339,765 486,008 Total Other Income 177,926 290,832 450,764 518,392 INCOME BEFORE INCOME TAX EXPENSE 1,265,610 1,641,215 2,200,470 2,424,159 INCOME TAX (EXPENSE) BENEFIT Current Tax (Expense) (374,701 ) (191,073 ) (423,575 ) (157,058 ) Deferred Tax Benefit (Expense) 17,853 (34,904 ) 44,842 (221,975 ) Total Income Tax (Expense) (356,848 ) (225,977 ) (378,733 ) (379,033 ) NET INCOME $ 908,762 $ 1,415,238 $ 1,821,737 $ 2,045,126 NET INCOME PER SHARE: Basic $ 0.08 $ 0.13 $ 0.16 $ 0.18 Diluted $ 0.08 $ 0.13 $ 0.16 $ 0.18 WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic 11,221,080 11,168,493 11,223,528 11,148,565 Diluted 11,306,828 11,288,210 11,309,276 11,268,282 COMPREHENSIVE INCOME, net of tax $ 908,762 $ 1,415,238 $ 1,821,737 $ 2,045,126 Foreign Currency Translation Adjustment 1,800,439 (437,683 ) 771,853 591,897 Total Other Comprehensive Income (Loss) $ 1,800,439 $ (437,683 ) $ 771,853 $ 591,897 COMPREHENSIVE INCOME $ 2,709,201 $ 977,555 $ 2,593,590 $ 2,637,023 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
American Military News
13-06-2025
- American Military News
Video: World War I submarine found off San Diego coast
The USS F-1, a World War I-era U.S. Navy submarine, was recently discovered by researchers off the cost of San Diego, California. The discovery comes 108 years after the submarine was 'lost at sea' in a training accident in December of 1917. In a recent press release, Woods Hole Oceanographic Institution (WHOI) announced, 'A deep-sea training and engineering dive off the coast of San Diego provided an opportunity for never-before-seen imagery of the U.S. Navy submarine USS F-1, lost at sea in an accident on December 17, 1917, that resulted in the death of 19 crew members.' According to the press release, WHOI researchers captured images of the World War I-era Navy submarine by using 'Sentry,' an autonomous underwater vehicle, and 'Alvin,' a human-occupied vehicle, to access the remains of the submarine located under more than 1,300 feet of water. 'Advanced ocean technology and simple teamwork played a big part in delivering these new images,' Bruce Strickrott, manager of the Alvin Group at WHOI and the senior pilot who helped lead the recent expedition, said. 'Once we identified the wreck and determined it was safe to dive, we were able to capture never-before-seen perspectives of the sub. As a U.S. Navy veteran, it was a profound honor to visit the wreck of the F-1 with our ONR and NHHC colleagues aboard Alvin.' READ MORE: Pics: Surprising WWII shipwreck finds revealed WHOI explained that the recent expedition was part of a training and engineering mission intended to give pilots of the underwater submersibles an opportunity to increase their piloting skills and develop technology for underwater research. 'It was an incredibly exciting and humbling experience to visit these historically significant wrecks and to honor the sacrifice of these brave American Sailors,' Naval History and Heritage Command (NHHC) Underwater Archaeologist Brad Krueger said. 'All of us at the NHHC are grateful for this collaboration, which also enabled us to document and assess the condition of the crafts.' According to the press release, the crew on the Atlantis, which was stationed above the location of the remains of the USS F-1, held a remembrance ceremony in honor of the 19 Navy members who were killed in the training incident in 1917. 'History and archaeology are all about people and we felt it was important to read their names aloud,' Krueger stated. 'The Navy has a solemn responsibility to ensure the legacies of its lost Sailors are remembered.' A video shared on X, formerly Twitter, by WHOI shows the new footage of the USS F-1 submarine as well as part of the ceremony held in honor of the 19 Navy members.
