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Nauticus Robotics Reports Strong Start to 2025
KITTNauticus Robotics(KITT) Prnewswire·2025-05-14 23:39

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 0.2million,adecreasefrom0.2 million, a decrease from 0.5 million in the same period last year [7] Strategic Acquisition - The acquisition of SeaTrepid for 14.4millionincludedsubstantiallyallassetsandselectliabilities,positioningNauticusforinnovationandscaleinsubsearobotics[3]−TheintegrationofSeaTrepid′sROVfleetwithNauticus′sautonomysoftwareisexpectedtounlocknewcommercialopportunitiesintheoffshoreservicesmarket[3][14]OperationalMilestones−Nauticuslaunchedthe2025GulfCoastoffshoreseasonwithsignificantactivity,includingadvancementsinnext−generationtechnologyandelectricmanipulatorsdesignedforROVsandAquanautvehicles[4][5]−Thecompanyispreparingacommercial−readyreleaseofsoftwareforwork−classROVs,indicatingprogressinitstechnologicalcapabilities[4]CustomerDemandandMarketOutlook−ThemarketresponsetoNauticus′sexpandedserviceofferingshasbeenpositive,withcustomersshowingincreasedopennesstoautonomoussolutions[6]−Thecompanyiswell−positionedforastandout2025,withstrongdemandandinnovativeproducts[6]FinancialHighlights−Nauticusreportedanadjustednetlossof14.4 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 6.4millioninthesameperiodlastyear[10]−Thenetlossforthefirstquarterwas6.4 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 72.8millioninQ12024[11]−Operatingexpensestotaled72.8 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 10.1million,asignificantincreasefrom10.1 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]