Nauticus Robotics Inc (OQ:KITT)
Business Focus: Industrial Machinery & Equipment
| Sector: Industrials | Industry: Industrial Machinery & Equipment |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 17146 Feathercraft Lane, Suite 450 WEBSTER TX 77598 |
| Tel: | 1-949-5743860 |
| Website: | https://nauticusrobotics.com |
| IR: | See website |
| Key People | ||
| John W. Gibson President, Interim Chief Executive Officer, Director | Victoria Hay Interim Chief Financial Officer and Principal Financial Officer | John Yamokoski Chief Technology Officer |
| Business Overview |
| Nauticus Robotics, Inc. develops autonomous robots for the ocean industries. Its business model includes using robotic systems for service, selling vehicles and components, and licensing of related software to both the commercial and defense business sectors. It has designed and is testing and certifying a new generation of vehicles to reduce operational cost and gather data to maintain and operate a wide variety of subsea infrastructure. It also develops a range of technology products for retrofit/upgrading traditional ROV operations and other third-party vehicle platforms. Its services provide 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. It focuses on its four main products: Autonomous Solutions, Government Solutions, Olympic Arms and toolKITT software. |
| Financial Overview |
| For the three months ended 31 March 2024, Nauticus Robotics Inc revenues decreased 84% to $464K. Net income totaled $414K vs. loss of $14.1M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net Income reflects Fair Value Adjustments on Other Assets increase from $2.2M (expense) to $8.3M (income), Accretion of debt discount decrease of 50% to $2.5M (expense). |
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