Nauticus Robotics Inc. ( (KITT) ) has released its Q4 earnings. Here is a breakdown of the information Nauticus Robotics Inc. presented to its investors.
Nauticus Robotics, Inc. is a pioneering company in the subsea robotics and software industry, focusing on developing autonomous robots for ocean industries to enhance operational efficiency and reduce environmental impact. The company has reported its financial results for the year ending December 31, 2024, marking a significant transition from a research-focused entity to a commercial, revenue-generating company. Key highlights include the successful deepwater testing of its Aquanaut vehicle, which led to immediate commercial work, and the completion of its acquisition of SeaTrepid International, enhancing its offshore operational capabilities.
In 2024, Nauticus Robotics reported a total revenue of $1.8 million, a decrease from $6.6 million in 2023, reflecting the company’s ongoing transition phase. Despite the revenue drop, the company managed to reduce its operating expenses significantly, with total expenses for the year amounting to $24.9 million, down from $61.7 million in the previous year. The adjusted net loss for the year was $26.1 million, showing an improvement from the $34.3 million loss in 2023.
Strategically, Nauticus is focusing on transitioning its offshore inspection operations to autonomous, untethered execution, which is expected to drive future growth. The company’s Aquanaut vehicle, paired with a remotely operated vehicle on a single vessel, is generating interest among customers eager to integrate this model into their operations. Additionally, the ToolKITT software team is preparing for its first commercial product release in 2025, aiming to reduce subsea operational costs for customers.
Looking ahead, Nauticus Robotics is optimistic about 2025, anticipating substantial revenue growth and margin improvement. The company is well-positioned to leverage its technological advancements and strategic acquisitions to expand its market presence and enhance its service offerings in the subsea robotics sector.