Nauticus Robotics, Inc. reported a significant decline in revenue for the first quarter of 2025, generating $165,256 compared to $464,354 in the same period of 2024, marking a 64% decrease. The company's operating loss increased slightly to $5.86 million from $5.55 million year-over-year. The net loss for the quarter was $7.57 million, a substantial reduction from the previous year's loss of $72.84 million, reflecting a 90% improvement. This reduction in net loss was attributed to a decrease in costs associated with revenue, which fell by 41% to $1.24 million, alongside a notable absence of losses on extinguishment of debt that had significantly impacted the prior year's results.
In terms of operational changes, Nauticus completed the acquisition of SeaTrepid International LLC on March 20, 2025, for approximately $14.36 million. This strategic move aims to integrate Nauticus's AI-driven autonomy software, ToolKITT, into SeaTrepid's existing remotely operated vehicle (ROV) fleet, enhancing operational performance and efficiency. The acquisition is expected to unlock new service opportunities by enabling collaboration between Nauticus's Aquanaut and SeaTrepid's ROVs.
The company reported a cash position of $10.05 million as of March 31, 2025, a significant increase from $1.19 million at the end of 2024, primarily due to net proceeds of $19.44 million from an At The Market (ATM) share offering. However, Nauticus continues to face challenges in generating sufficient revenue to cover its operating expenses and may require additional liquidity to sustain operations over the next twelve months. The company has implemented cost-cutting measures and has secured commitments from investors to support its liquidity needs.
Nauticus's total liabilities increased to $46.96 million from $43.08 million at the end of 2024, driven by the acquisition and related financing activities. The company’s employee headcount and customer base remain stable, with a focus on enhancing product adoption rates and expanding its geographic reach. Looking ahead, Nauticus remains optimistic about its growth trajectory, particularly with the integration of SeaTrepid and the potential for increased revenue from new contracts and services. The company is committed to improving its financial performance and operational efficiency as it navigates the challenges of the current market environment.
About Nauticus Robotics, Inc.
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