08:21 AM EST, 11/21/2024 (MT Newswires) -- Kraken Robotics ( KRKNF ) on Thursday said third-quarter profit plunged 29% on higher financing costs.

The marine technology company said profit fell to $1.6 million from $2.3 million the year before due to financing costs linked to the credit facility agreed to in April. Kraken did not provide any figures for per share amounts.

Consolidated revenue declined 4% to $19.5 million due to lower Katfish and remote mine disposal system revenue.

Kraken maintained its 2024 revenue guidance of $90 million to $100 million.