Nauticus Robotics reports Q2 adjusted EPS (20c), consensus (15c)

Reports Q2 revenue $1.1M, consensus $2.47M. “As we embark on the commercial launch of the Nauticus Fleet, the demand for our autonomous service offering is increasing. Over the last few months, we have signed commercial deals with leading energy companies such as Petrobras and Shell and are in advanced discussions with several additional majors,” said Nic Radford, CEO of Nauticus. “These contracts equate to multi-million-dollar bookings and open up a much larger potential scope of work as these companies spend hundreds of millions of dollars per year on offshore inspection, maintenance, and repair work. Although we tend to talk more about our commercial offerings, the government-oriented side of our business remains a key component of our long-term strategy with much of our IP being borne out of our government work. While revenue from these projects was down this quarter due to delays in contract authorizations, we expect to recover in the upcoming quarters. I’ve never been more optimistic about the future of Nauticus. We employ some of the best minds in the industry, and we are positioned with the right product at the right time to disrupt a $30 billion market. Demand from potential customers is high, but constructing our fleet is capital intensive. As such, we’re finalizing a $15 million senior secured debt round led by one of our key strategic investors, with $5 million of the amount deposited last month.”