Kraken Robotics Inc. reported audited consolidated revenue results for the year ended December 31, 2017. The company reported revenue growth of 56% to $3.5 million for the 12 months ended December 30, 2017 versus $2.2 million in 2016.

The company is targeting to at least double revenues in 2018 to more than $7 million. This target excludes any contribution from the company's current major defense bids.