Nauticus Robotics Inc
NASDAQ:KITT
Nauticus Robotics Inc
Nauticus Robotics Inc is a US-based company operating in industry. The company is headquartered in Webster, Texas. The company went IPO on 2021-07-19. Nauticus Robotics, Inc., formerly CleanTech Acquisition Corp., is a developer of ocean robots, autonomy software, and services delivered to the marine industries. The firm's robotic systems and services are delivered to commercial and government-facing customers through a robotics-as-a-service (RaaS) business model and direct product sales for both hardware platforms and software licenses. The firm's approach to ocean robotics has resulted in the development of a range of technology products for retrofit/upgrading legacy systems and other third-party vehicle platforms. The company provides customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure. Its portfolio of robotics systems includes Aquanaut, Argonaut, Olympic Arm, ToolKITT and Hydronaut.
Nauticus Robotics Inc is a US-based company operating in industry. The company is headquartered in Webster, Texas. The company went IPO on 2021-07-19. Nauticus Robotics, Inc., formerly CleanTech Acquisition Corp., is a developer of ocean robots, autonomy software, and services delivered to the marine industries. The firm's robotic systems and services are delivered to commercial and government-facing customers through a robotics-as-a-service (RaaS) business model and direct product sales for both hardware platforms and software licenses. The firm's approach to ocean robotics has resulted in the development of a range of technology products for retrofit/upgrading legacy systems and other third-party vehicle platforms. The company provides customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure. Its portfolio of robotics systems includes Aquanaut, Argonaut, Olympic Arm, ToolKITT and Hydronaut.
Revenue: Q3 revenue was $1.9 million, down $0.1 million sequentially but up $1.6 million year-over-year, coming in slightly below expectations due to a strategic deferral of work.
Cash Position: Nauticus ended the quarter with $5.5 million in cash, boosted by an at-the-market offering and debt conversions.
Net Loss: Net loss for Q3 was $6.6 million, a sequential improvement but higher year-over-year due to prior period gains from convertible debentures.
Technology Milestone: Achieved a record subsea test with the Aquanaut system at 2,300 meters and made significant progress expanding the ToolKITT software to third-party ROVs.
Customer Pipeline: Customer base and commercial pipeline continued to grow, with strong interest and long-term contracts expected for 2026.
NASDAQ Compliance: Management is confident in maintaining NASDAQ listing by boosting shareholder equity above $2.5 million, supported by lender conversions.
Equity Facility: Secured a new $250 million equity facility, but management stressed disciplined use focused on accretive, cash-generating opportunities only.
