Nauticus Robotics, Inc. does not disclose specific business operations, revenue, profit, employee or customer details in the provided excerpt.


# Nauticus Robotics, Inc. - Company Summary

The provided excerpt does not include specific details about what Nauticus Robotics, Inc. does, such as its core operations, products or services, number of customers, employees, revenue, or income. It primarily contains legal boilerplate language regarding forward-looking statements and a table of contents for the Annual Report. 

**Key points from the excerpt:**
- The section mentioned is "Part I, Item 1A — Risk Factors" of the Annual Report on Form 10-K for the fiscal year ending December 31, 2024.
- The company disclaims obligation to update forward-looking statements.
- The report includes standard legal language about the basis of statements and information limitations.
- The table of contents lists various sections, including Business, Risk Factors, Unresolved Staff Comments, Cybersecurity, Properties, Legal Proceedings, and Mine Safety Disclosures.

**Note:** No specific information about the company's business activities, customer base, employees, revenue, or profit is included in the provided text. Additional sections of the report would need to be consulted for those details.


Nauticus Robotics, Inc. develops advanced autonomous robots for the ocean industries, focusing on subsea oil & gas, offshore wind energy, and defense sectors.

# Nauticus Robotics, Inc. Overview

## Company Profile
**Nauticus Robotics, Inc.** (the “Company,” “our,” “us,” or “we”) develops advanced autonomous robots specifically tailored for the ocean industries. The Company operates from its corporate headquarters in **Webster, Texas**.

### Core Offerings
- **Robotic Systems:** Nauticus designs and builds autonomous underwater vehicles (AUVs) with capabilities to operate both at length as efficient transit vehicles and function as work-class remotely operated vehicles (ROVs).
- **Software Solutions:** The Company provides a multi-layered software platform, **ToolKITT**, which integrates various functionalities for ocean sensing, manipulation, autonomous behavior, survey, and intervention.
- **Services:** Offerings include data collection, analytics, and subsea manipulation capabilities to support asset maintenance while reducing operational costs and carbon emissions.

### Target Markets
- **Commercial Customers:** Primarily in subsea oil & gas, offshore wind energy, aquaculture, telecommunications, and defense sectors.
- **Government Customers:** Engages in contracts with U.S. federal and various foreign government entities.

## Business Model
- **Revenue Generation:**
  - Operates under a service-based daily rate model requiring master service agreements.
  - Revenues are sourced from providing technology engineering services and contracting for the design and development of robotic systems.
  - Revenue is recognized over the duration of the service contracts, which typically have terms of up to 18 months.

### Financial Overview
- **Revenue:** For the fiscal year ended December 31, 2023, Nauticus reported net revenue of **$6.6 million**, a decrease of **42%** compared to **$11.4 million** in 2022.
- **Operating Loss:** The Company experienced an operating loss of **$55.1 million** in 2023, an increase from **$18.4 million** in 2022.
- **Employees:** As of December 31, 2023, Nauticus employed **72** individuals.
- **Customers:** The Company predominantly relies on a limited number of customers. For the year ended December 31, 2023, two customers accounted for almost **100%** of total revenue, with the total balance due from these customers representing **68%** of accounts receivable.

### Financial Challenges
- Nauticus continues to face significant financial challenges, including recurring losses each year since inception, leading to ongoing efforts for cost-cutting measures to preserve cash and an uncertain outlook for generating sufficient revenue to cover operating costs.

### Summary of Progress and Future Outlook
- The Company is engaged in testing and certifying new generations of vehicles aimed at reducing operational costs.
- Nauticus anticipates that the initial commercial unit of its flagship product, Aquanaut, is expected to be operational in the **second quarter of 2024**.
- Despite the financial difficulties, Nauticus is committed to its growth strategy in ocean robotics, focusing on further research and development, and potential expansions into other markets.

Overall, Nauticus Robotics aims to disrupt traditional models of ocean services through innovative technology, positioning itself for future opportunities despite significant current challenges.

Nauticus Robotics, Inc.

10-K / April 15, 2025

10-K / April 10, 2024

10-K / April 15, 2025

Nauticus Robotics, Inc. - Company Summary