Coda Octopus Group announced that its Salt Lake City-based Defense Engineering Services Business, Coda Octopus Colmek, received two orders from the US Government totaling $1.3 million. These orders are for proprietary sub-components used in a larger mission-critical Defense program of record.
A key aspect of these orders is that they were contracted directly with the Company, bypassing prime contractors. This development opens the possibility for increased direct contract opportunities for Coda Octopus Colmek, which has been a trusted DoD supplier for over 25 years.
The company views these orders as a step towards restoring the Engineering Business to its pre-COVID $10 million revenue profile. This direct engagement with the US Government is a strategic objective, aiming to secure more stable and recurring revenue streams.
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