Very few companies can say they topped the Toronto Venture Stock Exchange (TSXV) in any given year. In 2018, Kraken Robotics Inc. (TSXV: PNG) did just that after its share price surged 117.7%. This was no pump-and-dump; the stock benefited from a steady stream of fundamental news throughout the year, capped off by solid revenue growth and new business. Summary \tCompany: Kraken Robotics Inc. \tTicker: PNG \tMarket Cap: $107 million \tAnnual Revenue Growth: 55% (2017) \tFree Cash Flow: -$3.11 million (2017) Kraken Robotics: From Obscurity to Ascendancy Based in Newfoundland and Labrador, Kraken Robotics is a marine technology company that designs advanced sensors, software, and underwater robotics for Unmanned Maritime Vehicles. Its primary target markets are military, defense contractors, research institutions, and underwater survey companies. It also works with the seabed mining and oil and gas sectors. Despite being operational for only 11 years, Kraken has secured major contracts with Defence Research and Development Canada, the U.S. Navy and U.K. Ministry of Defence. It was also recently awarded a $2.8 million equity investment by Ocean Infinity, a survey and exploration company that also doled out $12 million in new orders. Earlier this year, Kraken Robotics announced it had completed a majority acquisition of Kraken Power, providing a key technical input for its new fleet of drone products. Kraken\u2019s website showcases a portfolio of nine products, from advanced sensors and robotics systems to underwater vehicles. Many of these products are trademarked, which highlights the company\u2019s extensive research and development and intellectual property. Penny Stock Still Has Room for Growth PNG\u2019s triple-digit growth in 2018 mirrors a significant ramp-up in new business, setting the stage for another triumphant year. Over the past 12 months, the company booked roughly $20 million of business, driven largely by the sale of SAS sensors, Katfish SAS systems, and batteries. At last check, Kraken was on track to more than double its revenue for 2018. These fundamental drivers bode well for the stock\u2019s short-term trajectory and long-term potential. The company\u2019s share price is presently valued at $0.80, some 14% shy of its record high. PNG has more than doubled this year and is among a small handful of companies to have completely reversed its fourth-quarter decline. (Q4 2018 was a horrible period for North American stocks as Wall Street experienced its worst downturn since the financial crisis.) PNG is not only outperforming the North American market (technology or otherwise), it has proven to be a reliable penny stock. The stock price has been on a consistent upward trajectory since mid-2018. This linear path could be further solidified by the onboarding of big clients. At roughly $0.80 a share, file PNG under the low-risk, high-reward category. Conclusion Kraken Robotics has proven to be an IP powerhouse during its brief history. Recent contracts with the Canadian government and Ocean Infinity show a small but nimble company that is carving out a strong niche in robotics-as-a-service. Disclaimer: Author has no investment stake in Kraken Robotics Inc.