Strategic alliance seeks to accelerate the integration of autonomy across the offshore sectorHOUSTON and STUART, Fla., July 29, 2025 /PRNewswire/ -- Nauticus Robotics, Inc. (NASDAQ: KITT), a leading innovator in autonomous subsea robotics and software solutions, today announced that it has entered into a Master Services Agreement (MSA) with Advanced Ocean Systems, Inc. (AOS), a Florida-based business offering autonomous and remote systems development and integration capabilities. The agreement is structured ...

Core Viewpoint - Nauticus Robotics, Inc. is progressing towards record-breaking revenue and technological milestones in 2025, with a focus on combining traditional ROV work with autonomous capabilities through the integration with SeaTrepid [1][3]. Company Developments - Nauticus ROVs completed projects for six different customers in the second quarter, supporting the wind industry along the U.S. East Coast and the energy sector along the U.S. Gulf Coast [2]. - The third quarter of 2025 will see the initiation of revenue generation from the Aquanaut® vehicle, marking a significant step in the company's deployment of its flagship underwater vehicle [2]. - The Aquanaut® vehicle is expected to execute projects at ultra deepwater depths of up to 2,200 meters by the end of summer 2025, which will be its first revenue-generating operation at these depths [4]. Market Position and Customer Engagement - The year-over-year reduction in customer concentration indicates strong growth in market adoption and diversification for Nauticus [3]. - Current and new customer discussions confirm market acceptance of Nauticus' combined offering of ROV and Aquanaut® vehicle, with customers eager to see the Aquanaut® in action [3]. - The second half of 2025 is anticipated to increase excitement and exposure for Nauticus' offerings, with promising discussions ongoing with customers [4]. Technological Innovation - Nauticus Robotics develops autonomous robots for ocean industries, utilizing sensors, artificial intelligence, and effective algorithms for perception and decision-making [6]. - The company is testing and certifying a new generation of vehicles aimed at reducing operational costs and improving data collection for subsea infrastructure maintenance [6]. - Nauticus' approach includes retrofitting traditional ROV operations and developing technology products for third-party vehicle platforms, enhancing operational efficiency and reducing environmental impact [6].

Core Insights - Nauticus Robotics, Inc. has announced a strategic collaboration with Open Ocean Robotics to enhance subsea asset management in the energy sector [1][2] - The partnership aims to reduce operational costs and environmental impact associated with subsea inspections and monitoring by integrating autonomous subsea vehicles with solar-powered uncrewed surface vehicles (USVs) [2][3] Company Overview - Nauticus Robotics specializes in autonomous robots for ocean industries, focusing on reducing operational costs and greenhouse gas emissions through advanced robotics and AI technologies [5] - Open Ocean Robotics develops solar-powered USVs designed for long-duration missions, providing a cost-effective and environmentally friendly alternative to traditional crewed vessels [6] Collaboration Details - The collaboration combines Nauticus' Aquanaut® subsea robotics with Open Ocean Robotics' DataXplorer™ USV to enable real-time monitoring and data collection [2][3] - This joint solution allows energy operators to conduct more frequent and efficient inspections of critical infrastructure, such as pipelines and subsea manifolds, while minimizing environmental impact [2][4] Industry Impact - The partnership addresses the growing demands for efficiency and sustainability in the marine sector, aligning with the energy industry's digital transformation and decarbonization goals [4] - By leveraging autonomous technologies, the collaboration is expected to revolutionize ocean management and monitoring practices [4]

Nauticus Robotics (KITT) Q1 2025 Earnings Call May 15, 2025 11:00 AM ET Company Participants Kristin Moorman - VP - Corporate Development & AdministrationJohn Gibson - President & CEOVictoria Hay - Principal Accounting Officer & Interim CFODaniel Dehart - VP - Field OperationsSteve Walsh - VP - SalesJason Close - VP - Autonomous Software SolutionsAmeen Albadri - VP - Hardware EngineeringKunal Madhukar - Managing Director Conference Call Participants None - Analyst Operator Good day, ladies and gentlemen, an ...

Nauticus Robotics (KITT) Q1 2025 Earnings Call May 15, 2025 11:00 AM ET Speaker0 Good day, ladies and gentlemen, and welcome to the Nauticus Robotics twenty twenty five Q1 Earnings Conference Call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a question and answer session. Please press the star followed by the number two. This call is being recorded on Thursday, 05/15/2025. I would now like to turn the conference over to Christine Morman. Please go ahead. Spea ...

Core Insights - Nauticus Robotics, Inc. reported a strategic acquisition of SeaTrepid International LLC, enhancing operational capabilities and accelerating the deployment of its autonomy software, ToolKITT [2][3] - The company aims to exceed its full-year 2024 revenue during the first half of 2025, driven by strong momentum in the offshore season [2] - Nauticus's financial results for Q1 2025 showed a revenue of $0.2 million, a decrease from $0.5 million in the same period last year [7] Strategic Acquisition - The acquisition of SeaTrepid for $14.4 million included substantially all assets and select liabilities, positioning Nauticus for innovation and scale in subsea robotics [3] - The integration of SeaTrepid's ROV fleet with Nauticus's autonomy software is expected to unlock new commercial opportunities in the offshore services market [3][14] Operational Milestones - Nauticus launched the 2025 Gulf Coast offshore season with significant activity, including advancements in next-generation technology and electric manipulators designed for ROVs and Aquanaut vehicles [4][5] - The company is preparing a commercial-ready release of software for work-class ROVs, indicating progress in its technological capabilities [4] Customer Demand and Market Outlook - The market response to Nauticus's expanded service offerings has been positive, with customers showing increased openness to autonomous solutions [6] - The company is well-positioned for a standout 2025, with strong demand and innovative products [6] Financial Highlights - Nauticus reported an adjusted net loss of $6.6 million for Q1 2025, compared to $6.4 million in the same period last year [10] - The net loss for the first quarter was $7.6 million, significantly improved from a net loss of $72.8 million in Q1 2024 [11] - Operating expenses totaled $6.0 million, reflecting a slight increase from the prior-year period [9] Balance Sheet and Liquidity - As of March 31, 2025, Nauticus had cash and cash equivalents of $10.1 million, a significant increase from $1.2 million at the end of 2024 [12] - The company raised $19.4 million through At The Market offerings, issuing nearly 7.5 million shares [12]

Part I [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) Unaudited Q1 2025 financial statements show increased assets and positive equity, with a significantly improved net loss [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$48.5 million** due to the SeaTrepid acquisition, turning stockholders' equity positive | Metric | March 31, 2025 (USD) | December 31, 2024 (USD) | | :--- | :--- | :--- | | Cash and cash equivalents | $10,054,304 | $1,186,047 | | Total Assets | $48,481,073 | $22,685,087 | | Goodwill | $10,652,388 | $0 | | Total Liabilities | $46,959,571 | $43,082,500 | | Total Stockholders' Equity (Deficit) | $1,521,502 | $(20,397,413) | [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 revenue decreased, but net loss significantly narrowed to **$(7.6) million** due to the absence of a large prior-year debt extinguishment loss | Metric | Q1 2025 (USD) | Q1 2024 (USD) | | :--- | :--- | :--- | | Total Revenue | $165,256 | $464,354 | | Operating Loss | $(5,863,763) | $(5,549,330) | | Loss on extinguishment of debt | $0 | $78,734,949 | | Net Loss | $(7,567,187) | $(72,838,936) | | Basic and diluted LPS | $(0.28) | $(58.75) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating activities used cash, while financing provided **$19.4 million** from an ATM offering, resulting in **$10.1 million** cash at quarter-end | Cash Flow Activity | Q1 2025 (USD) | Q1 2024 (USD) | | :--- | :--- | :--- | | Net cash used in operating activities | $(6,649,883) | $(6,660,282) | | Net cash (used in) provided by investing activities | $(3,919,981) | $68,482 | | Net cash from financing activities | $19,438,121 | $12,025,709 | | Net change in cash and cash equivalents | $8,868,257 | $5,433,909 | | Cash and cash equivalents, end of period | $10,054,304 | $6,187,307 | - The company raised **$19.4 million** net from an At The Market (ATM) offering[23](index=23&type=chunk) - The acquisition of SeaTrepid used **$3.9 million** in cash, net of cash acquired[23](index=23&type=chunk) [Notes to Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Key disclosures include the **$14.4 million** SeaTrepid acquisition, liquidity concerns, and equity changes including a reverse stock split - The company acquired SeaTrepid International LLC on March 20, 2025, for a total consideration of **$14.4 million** to integrate its AI software into SeaTrepid's ROV fleet[29](index=29&type=chunk)[136](index=136&type=chunk) - The company does not generate sufficient revenue to cover expenses and may require additional liquidity, but believes it has sufficient resources to continue as a going concern for at least one year due to investor support[30](index=30&type=chunk) - In Q1 2025, two customers accounted for **100%** of total revenue (**75%** and **25%** respectively)[73](index=73&type=chunk) - The company effected a **1-for-36** reverse stock split on July 22, 2024, with all share and per-share data retroactively adjusted[159](index=159&type=chunk) [Management's Discussion and Analysis (MD&A)](index=40&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2025 performance, noting a **64%** revenue decrease but a significant improvement in net loss due to a one-time prior-year event [Results of Operations](index=41&type=section&id=Results%20of%20Operations) Revenue decreased **64%** in Q1 2025, but net loss improved **90%** to **$(7.6) million** due to the absence of a large prior-year debt extinguishment loss | Metric | Q1 2025 (USD) | Q1 2024 (USD) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | $165,256 | $464,354 | -64% | | Cost of Revenue | $1,238,957 | $2,093,955 | -41% | | G&A Expenses | $4,309,686 | $3,430,010 | +26% | | Operating Loss | $(5,863,763) | $(5,549,330) | +6% | | Net Loss | $(7,567,187) | $(72,838,936) | -90% | - The decrease in revenue was primarily driven by a reduction in government-related contracts[222](index=222&type=chunk) - The increase in G&A costs was driven by the SeaTrepid acquisition[225](index=225&type=chunk) [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) The company held **$10.1 million** cash, relying on external financing, including **$19.4 million** from an ATM offering, to support operations - The company had **$10,054,304** in cash and cash equivalents as of March 31, 2025[231](index=231&type=chunk) - The company received net proceeds of **$19.4 million** from an ATM share offering in Q1 2025[232](index=232&type=chunk) - Cash used in operating activities was **$6.6 million**, and cash used for the SeaTrepid acquisition was **$3.9 million**[234](index=234&type=chunk) - Management states that with committed investor support, they believe there are sufficient resources to continue as a going concern for at least one year[230](index=230&type=chunk) [Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls were ineffective due to material weaknesses, with a remediation plan underway targeting full implementation by end of 2025 - Management concluded that disclosure controls and procedures were not effective as of March 31, 2025[236](index=236&type=chunk) - Material weaknesses were identified related to (1) ineffective controls over significant complex transactions and (2) failure to remediate previously reported weaknesses in user access controls[240](index=240&type=chunk) - A remediation plan is in progress, targeting formal review processes and user access controls, with full implementation expected by the end of 2025[241](index=241&type=chunk) Part II [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings - The company is not currently a party to any material legal proceeding[245](index=245&type=chunk) [Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported for the quarter - No material changes in risk factors were reported for the quarter[246](index=246&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company issued **17,823,603** common shares through unregistered sales, primarily from preferred stock and term loan conversions - Issued **16,018,211** common shares upon conversion of Series A Preferred Stock by related parties ATW I and SLS[247](index=247&type=chunk)[165](index=165&type=chunk) - Issued **1,805,392** common shares upon conversion of 2024 Term Loan notes by related parties ATW I and ATW II[247](index=247&type=chunk)[166](index=166&type=chunk)

Company Overview - Nauticus Robotics, Inc. develops autonomous robots for ocean industries, utilizing sensors, artificial intelligence, and algorithms for adaptability in changing environments [3] - The company's business model includes providing robotic systems for services, selling vehicles and components, and licensing software to commercial and defense sectors [3] - Nauticus is testing and certifying a new generation of vehicles aimed at reducing operational costs and gathering data for subsea infrastructure maintenance [3] Financial Results Announcement - Nauticus plans to host its first quarter financial and operating results call for the period ended March 31, 2025, on May 15, 2025, at 10:00 am Central Time [1] - Participants can join the earnings conference call by dialing a toll-free number or accessing a listen-only webcast [2]

Core Insights - Nauticus Robotics, Inc. is actively participating in multiple key industry conferences in May 2025, showcasing its innovations in autonomous subsea robotics and software solutions [1][4]. Conference Participation - At the Offshore Technology Conference (OTC) on May 8, 2025, Nauticus will present a paper on the Aquanaut® vehicle, detailing its transition from design to commercial viability [2]. - Nauticus' Chief Technology Officer, JD Yamokoski, will be part of a panel discussion at the DeepStar Technology Symposium on May 9, 2025, focusing on robotics for digital twin data acquisition [3]. - The company's President and CEO, John Gibson, will participate in a panel at the Louisiana Energy Conference (LEC) on May 27, 2025, discussing offshore supply vessels and marine services [4]. Company Overview - Nauticus Robotics develops autonomous robots for ocean industries, utilizing sensors, artificial intelligence, and algorithms for effective decision-making in changing environments [5]. - The company's business model includes providing robotic services, selling vehicles and components, and licensing software to both commercial and defense sectors [5]. - Nauticus is focused on reducing operational costs and environmental impact while enhancing safety and efficiency in subsea operations through its innovative technologies [5].

Core Insights - Nauticus Robotics, Inc. has commenced its 2025 offshore season with significant contracts in both oil and gas and offshore wind industries [1][2] - The company is leveraging its autonomous robotic systems to enhance operational efficiency and safety in subsea environments [3] Group 1: Offshore Operations - The first ROV is contracted for a minimum of 120 days to support oil and gas drill operations in the Gulf Coast [1] - A second ROV has completed mobilization for the offshore wind industry and is transitioning to the Gulf Coast for further operations [2] Group 2: Technology and Innovation - Nauticus Robotics focuses on developing autonomous robots that utilize sensors, AI, and algorithms for effective decision-making in changing environments [3] - The company is testing a new generation of vehicles aimed at reducing operational costs and improving data collection for subsea infrastructure [3] Group 3: Business Model and Market Strategy - Nauticus' business model includes service provision, vehicle sales, and software licensing across commercial and defense sectors [3] - The combination of ROVs and Aquanaut vehicles on a single vessel is expected to expand Nauticus' customer base and strengthen existing relationships [2]