KITT · Nauticus Robotics, Inc.

Revenue grew 191.8% to $5.3 million in FY 2025 from $1.8 million in the prior year, primarily due to the revenue stream from the acquisition of SeaTrepid's ROV fleet. This marked the Company's first meaningful topline expansion, transforming its profile from primarily development-stage operations toward offshore services revenue. However, the business has incurred recurring losses each year since inception and does not generate sufficient revenue to cover operating expenses, working capital, and capital expenditures, as noted in Management's Discussion.

Net income loss narrowed significantly by 69.7% to $40.8 million from $134.9 million prior year, with diluted EPS improving 71.5% to -$10.45 from -$36.73. This improvement reflects a less extreme outcome year-over-year, though the Company continues to report substantial losses. Management highlights ongoing focus on raising capital, strategic acquisitions like SeaTrepid, and alliances to strengthen operations amid these pressures.

Cash flow from operations used $23.0 million, a modest improvement from $24.2 million prior year, as equity infusions and capital management offset ongoing investments. Capital requirements depend on factors like technology investments, sales and marketing expansion, and market adoption of enhanced products. Factors such as stock price volatility, trading volume, market conditions, and regulatory requirements may adversely affect efficient capital raising.

A material portion of revenue involves government entities, introducing uncertainties and risks. The Company expects significant capital expenditures ahead for generational improvements in commercial products, with spending levels tied to customer demand for ocean robotic systems. These dynamics position Nauticus at an inflection point: SeaTrepid's integration provides revenue momentum, but persistent losses and capital dependence signal execution risks in achieving sustainable profitability.