Accessibility Statement Skip Navigation
  • Resources
  • Investor Relations
  • Journalists
  • Agencies
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
Search
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News Releases view all

    • News in Focus
        • Browse News Releases

        • All News Releases
        • All Public Company
        • English-only
        • News Releases Overview

        • Multimedia Gallery

        • All Multimedia
        • All Photos
        • All Videos
        • Multimedia Gallery Overview

        • Trending Topics

        • All Trending Topics
    • Business & Money
        • Auto & Transportation

        • Aerospace, Defense
        • Air Freight
        • Airlines & Aviation
        • Automotive
        • Maritime & Shipbuilding
        • Railroads and Intermodal Transportation
        • Supply Chain/Logistics
        • Transportation, Trucking & Railroad
        • Travel
        • Trucking and Road Transportation
        • Auto & Transportation Overview

        • View All Auto & Transportation

        • Business Technology

        • Blockchain
        • Broadcast Tech
        • Computer & Electronics
        • Computer Hardware
        • Computer Software
        • Data Analytics
        • Electronic Commerce
        • Electronic Components
        • Electronic Design Automation
        • Financial Technology
        • High Tech Security
        • Internet Technology
        • Nanotechnology
        • Networks
        • Peripherals
        • Semiconductors
        • Business Technology Overview

        • View All Business Technology

        • Entertain­ment & Media

        • Advertising
        • Art
        • Books
        • Entertainment
        • Film and Motion Picture
        • Magazines
        • Music
        • Publishing & Information Services
        • Radio & Podcast
        • Television
        • Entertainment & Media Overview

        • View All Entertain­ment & Media

        • Financial Services & Investing

        • Accounting News & Issues
        • Acquisitions, Mergers and Takeovers
        • Banking & Financial Services
        • Bankruptcy
        • Bond & Stock Ratings
        • Conference Call Announcements
        • Contracts
        • Cryptocurrency
        • Dividends
        • Earnings
        • Earnings Forecasts & Projections
        • Financing Agreements
        • Insurance
        • Investments Opinions
        • Joint Ventures
        • Mutual Funds
        • Private Placement
        • Real Estate
        • Restructuring & Recapitalization
        • Sales Reports
        • Shareholder Activism
        • Shareholder Meetings
        • Stock Offering
        • Stock Split
        • Venture Capital
        • Financial Services & Investing Overview

        • View All Financial Services & Investing

        • General Business

        • Awards
        • Commercial Real Estate
        • Corporate Expansion
        • Earnings
        • Environmental, Social and Governance (ESG)
        • Human Resource & Workforce Management
        • Licensing
        • New Products & Services
        • Obituaries
        • Outsourcing Businesses
        • Overseas Real Estate (non-US)
        • Personnel Announcements
        • Real Estate Transactions
        • Residential Real Estate
        • Small Business Services
        • Socially Responsible Investing
        • Surveys, Polls and Research
        • Trade Show News
        • General Business Overview

        • View All General Business

    • Science & Tech
        • Consumer Technology

        • Artificial Intelligence
        • Blockchain
        • Cloud Computing/Internet of Things
        • Computer Electronics
        • Computer Hardware
        • Computer Software
        • Consumer Electronics
        • Cryptocurrency
        • Data Analytics
        • Electronic Commerce
        • Electronic Gaming
        • Financial Technology
        • Mobile Entertainment
        • Multimedia & Internet
        • Peripherals
        • Social Media
        • STEM (Science, Tech, Engineering, Math)
        • Supply Chain/Logistics
        • Wireless Communications
        • Consumer Technology Overview

        • View All Consumer Technology

        • Energy & Natural Resources

        • Alternative Energies
        • Chemical
        • Electrical Utilities
        • Gas
        • General Manufacturing
        • Mining
        • Mining & Metals
        • Oil & Energy
        • Oil and Gas Discoveries
        • Utilities
        • Water Utilities
        • Energy & Natural Resources Overview

        • View All Energy & Natural Resources

        • Environ­ment

        • Conservation & Recycling
        • Environmental Issues
        • Environmental Policy
        • Environmental Products & Services
        • Green Technology
        • Natural Disasters
        • Environment Overview

        • View All Environ­ment

        • Heavy Industry & Manufacturing

        • Aerospace & Defense
        • Agriculture
        • Chemical
        • Construction & Building
        • General Manufacturing
        • HVAC (Heating, Ventilation and Air-Conditioning)
        • Machinery
        • Machine Tools, Metalworking and Metallurgy
        • Mining
        • Mining & Metals
        • Paper, Forest Products & Containers
        • Precious Metals
        • Textiles
        • Tobacco
        • Heavy Industry & Manufacturing Overview

        • View All Heavy Industry & Manufacturing

        • Telecomm­unications

        • Carriers and Services
        • Mobile Entertainment
        • Networks
        • Peripherals
        • Telecommunications Equipment
        • Telecommunications Industry
        • VoIP (Voice over Internet Protocol)
        • Wireless Communications
        • Telecommunications Overview

        • View All Telecomm­unications

    • Lifestyle & Health
        • Consumer Products & Retail

        • Animals & Pets
        • Beers, Wines and Spirits
        • Beverages
        • Bridal Services
        • Cannabis
        • Cosmetics and Personal Care
        • Fashion
        • Food & Beverages
        • Furniture and Furnishings
        • Home Improvement
        • Household, Consumer & Cosmetics
        • Household Products
        • Jewelry
        • Non-Alcoholic Beverages
        • Office Products
        • Organic Food
        • Product Recalls
        • Restaurants
        • Retail
        • Supermarkets
        • Toys
        • Consumer Products & Retail Overview

        • View All Consumer Products & Retail

        • Entertain­ment & Media

        • Advertising
        • Art
        • Books
        • Entertainment
        • Film and Motion Picture
        • Magazines
        • Music
        • Publishing & Information Services
        • Radio & Podcast
        • Television
        • Entertainment & Media Overview

        • View All Entertain­ment & Media

        • Health

        • Biometrics
        • Biotechnology
        • Clinical Trials & Medical Discoveries
        • Dentistry
        • FDA Approval
        • Fitness/Wellness
        • Health Care & Hospitals
        • Health Insurance
        • Infection Control
        • International Medical Approval
        • Medical Equipment
        • Medical Pharmaceuticals
        • Mental Health
        • Pharmaceuticals
        • Supplementary Medicine
        • Health Overview

        • View All Health

        • Sports

        • General Sports
        • Outdoors, Camping & Hiking
        • Sporting Events
        • Sports Equipment & Accessories
        • Sports Overview

        • View All Sports

        • Travel

        • Amusement Parks and Tourist Attractions
        • Gambling & Casinos
        • Hotels and Resorts
        • Leisure & Tourism
        • Outdoors, Camping & Hiking
        • Passenger Aviation
        • Travel Industry
        • Travel Overview

        • View All Travel

    • Policy & Public Interest
        • Policy & Public Interest

        • Advocacy Group Opinion
        • Animal Welfare
        • Congressional & Presidential Campaigns
        • Corporate Social Responsibility
        • Domestic Policy
        • Economic News, Trends, Analysis
        • Education
        • Environmental
        • European Government
        • FDA Approval
        • Federal and State Legislation
        • Federal Executive Branch & Agency
        • Foreign Policy & International Affairs
        • Homeland Security
        • Labor & Union
        • Legal Issues
        • Natural Disasters
        • Not For Profit
        • Patent Law
        • Public Safety
        • Trade Policy
        • U.S. State Policy
        • Policy & Public Interest Overview

        • View All Policy & Public Interest

    • People & Culture
        • People & Culture

        • Aboriginal, First Nations & Native American
        • African American
        • Asian American
        • Children
        • Diversity, Equity & Inclusion
        • Hispanic
        • Lesbian, Gay & Bisexual
        • Men's Interest
        • People with Disabilities
        • Religion
        • Senior Citizens
        • Veterans
        • Women
        • People & Culture Overview

        • View All People & Culture

    • Explore Our Platform
    • Plan Campaigns
    • Create with AI
    • Distribute Press Releases
    • Report Results
    • Amplify Content
    • All Products
    • General Inquiries
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices
    • Hamburger menu
    • PR Newswire: news distribution, targeting and monitoring
    • Send a Release
      • ALL CONTACT INFO
      • Contact Us

        888-776-0942
        from 8 AM - 10 PM ET

    • Searching for your content...

      No results found. Please change your search terms and try again.

      News Releases

      view all
      Close menu
    • News
    • Products
    • Contact
      • Send a Release
      • Client Login
      • Resources
      • Blog
      • Journalists
      • RSS
      • 3 News in Focus
      • 5 Business & Money
      • 5 Science & Tech
      • 5 Lifestyle & Health
      • 1 Policy & Public Interest
      • 1 People & Culture
      • Send a Release
      • Client Login
      • Resources
      • Blog
      • Journalists
      • RSS
      • Explore Our Platform
      • Plan Campaigns
      • Create with AI
      • Distribute Press Releases
      • Report Results
      • Amplify Content
      • All Products
      • Send a Release
      • Client Login
      • Resources
      • Blog
      • Journalists
      • RSS
      • General Inquiries
      • Editorial Bureaus
      • Partnerships
      • Media Inquiries
      • Worldwide Offices
      • Send a Release
      • Client Login
      • Resources
      • Blog
      • Journalists
      • RSS
      Close submenu (News in Focus) News in Focus
      • Browse News Releases
      • Multimedia Gallery
      • Trending Topics
      Close submenu (Business & Money) Business & Money
      • Auto & Transportation
      • Business Technology
      • Entertain­ment & Media
      • Financial Services & Investing
      • General Business
      Close submenu (Science & Tech) Science & Tech
      • Consumer Technology
      • Energy & Natural Resources
      • Environ­ment
      • Heavy Industry & Manufacturing
      • Telecomm­unications
      Close submenu (Lifestyle & Health) Lifestyle & Health
      • Consumer Products & Retail
      • Entertain­ment & Media
      • Health
      • Sports
      • Travel
      Close submenu (Policy & Public Interest) Policy & Public Interest
      • Policy & Public Interest
      Close submenu (People & Culture) People & Culture
      • People & Culture

      Nauticus Robotics, Inc. Reports First Quarter 2026 Results; Expands International Presence and Advances Commercial Deployment of Autonomous Subsea Technologies

      Nauticus Robotics (PRNewsfoto/Nauticus Robotics, Inc.)

      News provided by

      Nauticus Robotics, Inc.

      May 14, 2026, 17:30 ET

      Share this article

      Share this article


      UAE Expansion, Nauticus ToolKITT™ Integration, and Strengthening Offshore Activity Position Company for Growth Through 2026  

      HOUSTON, May 14, 2026 /PRNewswire/ -- Nauticus Robotics, Inc. ("Nauticus" or "Company") (NASDAQ: KITT), a leading innovator in subsea robotics and software, today announced its financial results for the quarter ended March 31, 2026.

      John Gibson, Nauticus President and CEO, stated, "The first quarter of 2026 reflected the seasonal softness typically experienced during the winter offshore operating season. During this period, Nauticus remained focused on strengthening operational readiness, advancing deployment of our Nauticus ToolKITT™ autonomy platform, and progressing our international expansion strategy across the UAE and broader GCC region.

      We are also pleased to welcome Brian Allen as Chief Revenue Officer. Brian brings deep subsea robotics, autonomy, and commercial leadership experience that we believe will enhance our ability to convert growing customer interest into revenue opportunities across offshore energy, defense, international markets, and technology licensing.

      As offshore activity strengthens through the remainder of 2026, we believe Nauticus is increasingly well positioned to benefit from improved fleet readiness, continued technology advancement, and a growing pipeline of commercial opportunities."

      STRATEGIC AND OPERATIONAL HIGHLIGHTS

      Expansion into UAE and GCC Markets

      During the first quarter, Nauticus continued advancing its international expansion strategy across the United Arab Emirates (UAE) and broader Gulf Cooperation Council (GCC) region. The Company progressed efforts to establish a long-term operational and commercial presence in Ras Al Khaimah, including the evaluation of facilities capable of supporting future regional operations, manufacturing, customer support, and commercial activities.

      Nauticus also engaged a UAE-based marketing agency to support regional market activation initiatives, including enhancements to branding, website presence, and commercial materials designed to strengthen customer engagement across both regional and global markets.

      Offshore Operations and Fleet Readiness

      While first quarter offshore activity was impacted by expected seasonal softness, Nauticus used the period to complete significant annual maintenance, refurbishment, and readiness activities across several remotely operated vehicle (ROV) systems. These efforts are intended to position the Company's fleet for increased utilization as offshore activity improves through the remainder of 2026.

      The Company continues to pursue opportunities across offshore oil and gas, offshore wind, and defense-related applications in the Gulf of America, both U.S. coasts, and select international markets.

      Advancement of Nauticus ToolKITT™ Platform

      Nauticus continued advancing integration of Nauticus ToolKITT™, the Company's proprietary autonomy software platform, across its subsea systems. The Company also continued integrating new high-definition camera systems and other advanced sensor technologies into its vehicle systems to enhance navigation, operational efficiency, data quality, and customer value.

      Management believes Nauticus ToolKITT™ remains one of the most advanced commercially deployable autonomy software platforms currently available for subsea vehicles and sees continued opportunity for future software licensing, technology-driven services, and autonomy-driven commercial offerings.

      Commercial Leadership Expansion

      This month, Nauticus appointed Brian Allen as Chief Revenue Officer. Mr. Allen brings nearly two decades of offshore robotics, autonomy, and commercial leadership experience, including building and scaling subsea technology businesses serving offshore energy and infrastructure markets globally.

      The Company expects this expanded commercial leadership structure to support future growth across software licensing, offshore services, hardware sales, strategic partnerships, and international expansion initiatives.

      CUSTOMER DEMAND AND OUTLOOK

      As Nauticus moves through 2026, the Company remains focused on expanding commercial activity across offshore energy, defense, and international markets. The Company is also increasing its emphasis on technology-driven revenue opportunities, including autonomy software licensing, technology-enabled services, and strategic international partnerships.

      Management believes improving offshore activity levels, combined with continued investment in operational capabilities, fleet readiness, commercial infrastructure, and international market development, position Nauticus to pursue additional opportunities throughout the remainder of 2026.

       FINANCIAL HIGHLIGHTS

      Revenue: Nauticus reported first-quarter revenue of $0.2 million, compared to $0.2 million for the prior-year period and $1.1 million for the prior quarter.

      Operating Expenses: Total expenses during the first quarter were $5.8 million, a $0.2 million decrease from the prior-year period and a $0.8 million decrease from Q4 2025. 

      Adjusted Net Loss: Nauticus reported adjusted net loss of $6.4 million for the first quarter, compared to an adjusted net loss of $6.6 million for the same period in 2025 and an adjusted net loss of $10.4 million for Q4 2025. Adjusted net loss is a non-GAAP measure which excludes the impact of certain items, as shown in the non-GAAP reconciliation table below.

      Net Loss: For the first quarter, Nauticus recorded a net loss of $9.3 million, or basic loss per share of $2.46. This compares with a net loss of $7.6 million from the same period in 2025, and a net loss of $19.2 million in the prior quarter.

      G&A Cost: Nauticus reported G&A first-quarter costs of $3.2 million, which is a decrease of $1.1 million compared to the same period in 2025 and a $0.6 million increase from the fourth quarter in 2025.

      Balance Sheet and Liquidity

      As of March 31, 2026, the Company had cash, cash equivalents, and restricted cash of $5.9 million, compared to $7.6 million as of December 31, 2025.

      CONFERENCE CALL DETAILS

      Nauticus will host a conference call on May 19, 2026 at 9:00 a.m. Central Time to discuss its results for the quarter ended March 31, 2026. To participate in the earnings conference call, participants should dial toll free at +1-833-461-5787, conference ID: 228928122, or access the listen-only webcast at the following link: https://events.q4inc.com/attendee/228928122. A link to the webcast will also be available on the Company's IR website (https://ir.nauticusrobotics.com/). Following the conclusion of the call, a recording will be available on the Company's website.

      About Nauticus Robotics, Inc.

      Nauticus Robotics, Inc. develops autonomous robots for the ocean industries. Autonomy requires the extensive use of sensors, artificial intelligence, and effective algorithms for perception and decision allowing the robot to adapt to changing environments. The company's business model includes using robotic systems for service, selling vehicles and components, and licensing of related software to both the commercial and defense business sectors. Nauticus has designed and is currently testing and certifying a new generation of vehicles to reduce operational cost and gather data to maintain and operate a wide variety of subsea infrastructure. Besides a standalone service offering and forward-facing products, Nauticus' approach to ocean robotics has also resulted in the development of a range of technology products for retrofit/upgrading traditional ROV operations and other third-party vehicle platforms. Nauticus' services provide customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure.

      Cautionary Language Regarding Forward-Looking Statements

      This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Act"), and are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as well as protections afforded by other federal securities laws. Such forward-looking statements include but are not limited to: the expected timing of product commercialization or new product releases; customer interest in Nauticus' products; estimated operating results and use of cash; and Nauticus' use of and needs for capital. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "intends," or "continue" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that may cause actual events, results, or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Nauticus' management's current expectations and beliefs, as well as a number of assumptions concerning future events. There can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Nauticus is not under any obligation and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports which Nauticus has filed or will file from time to time with the Securities and Exchange Commission (the "SEC") for a more complete discussion of the risks and uncertainties facing the Company and that could cause actual outcomes to be materially different from those indicated in the forward-looking statements made by the Company, in particular the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in documents filed from time to time with the SEC, including Nauticus' most recent Annual Report on Form 10-K filed with the SEC and Quarterly Reports on Form 10-Q filed with the SEC from time to time. Should one or more of these risks, uncertainties, or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The documents filed by Nauticus with the SEC may be obtained free of charge at the SEC's website at www.sec.gov

      NAUTICUS ROBOTICS, INC.

       UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS






      March 31,
      2026


      December 31,
      2025


      (Unaudited)



      Assets




      Current Assets:




      Cash and cash equivalents

      5,285,230


      7,016,610

      Restricted cash

      602,796


      600,342

      Accounts receivable, net

      -


      378,683

      Prepaid expenses

      1,511,810


      1,055,324

      Other current assets

      190,533


      203,025

      Total Current Assets

      7,590,369


      9,253,984





      Property and equipment, net

      21,251,878


      21,827,769

      Operating lease right-of-use assets, net

      467,140


      559,005

      Other assets

      71,290


      91,276

      Goodwill

      9,600,745


      9,600,745

      Intangible assets, net

      1,228,016


      1,276,916

      Total Assets

      $40,209,438


      $42,609,695





      Liabilities and Stockholders' Equity




      Current Liabilities:




      Accounts payable

      1,158,759


      3,128,459

      Accrued liabilities

      9,667,067


      9,807,668

      Operating lease liabilities - current

      446,572


      434,200

      Notes payable - current

      2,873,598


      2,628,234

      November 2024 Debentures - current, fair value option
      (related party)

      1,298,728


      163,672

      Senior Secured Convertible Term Loan  - current, net of
      discount (related party)

      14,752,299


      14,113,871

      Senior Secured Convertible Term Loan  - current, net of
      discount

      4,974,978


      4,939,247

      Other liabilities

      178,188


      160,110

      Total Current Liabilities

      35,350,189


      35,375,461

      Warrant liabilities

      8,262


      11,281

      Operating lease liabilities - long-term

      87,925


      203,547

      Derivative liability

      515,827


      -

      Total Liabilities

      $35,962,203


      $35,590,289





      Stockholders' Deficit




      Series A Convertible Preferred Stock $0.0001 par value;
      40,000 shares authorized and  5,546 shares issued and
      outstanding at March 31, 2026 and December 31, 2025.

      1


      1

      Series B Convertible Preferred Stock  $0.0001 par value;
      50,000 shares authorized and 2,263 and 2,813 shares issued
      and outstanding at March 31, 2026 and December 31, 2025,
      respectively.

      -


      -

      Series C Convertible Preferred Stock $0.0001 par value;
      100,000 shares authorized and 3,777 and 2,154 shares issued
      and outstanding at March 31, 2026 and December 31, 2025,
      respectively.

      -


      -

      Common stock, $0.0001 par value; 625,000,000 shares
      authorized and 4,291,998 and 3,601,400 shares issued and
      outstanding at March 31, 2026 and December 31, 2025,
      respectively.*

      429


      360

      Additional paid-in capital

      337,266,475


      330,581,384

      Accumulated other comprehensive income

      (42,229)


      (42,229)

      Accumulated deficit

      (332,977,441)


      (323,520,110)

      Total Stockholders' Equity

      4,247,235


      7,019,406

      Total Liabilities and Stockholders' Equity

      $40,209,438


      $42,609,695


      *Reflects the 1-for-9 reverse split effected September 5, 2025 and the 1-for-8 reverse split effected April 21, 2026.

      NAUTICUS ROBOTICS, INC.

      Unaudited Condensed Consolidated Statements of Operations




      Three Months Ended


      3/31/2026


      12/31/2025


      3/31/2025

      Revenue:






      Service

      $159,575


      $1,057,298


      $165,256

      Total revenue

      159,575


      1,057,298


      165,256

      Costs and expenses:






      Cost of revenue (exclusive of items shown separately
      below)

      1,993,894


      3,326,630


      1,238,957

      Depreciation and amortization

      624,791


      699,067


      480,376

      General and administrative

      3,224,907


      2,645,694


      4,359,686

      Total costs and expenses

      5,843,592


      6,671,391


      6,079,019







      Operating loss

      (5,684,017)


      (5,614,093)


      (5,913,763)







      Other (income) expense, net:






      Other (income) expense, net

      (3,145)


      (102,271)


      (137,397)

      Foreign currency transaction loss

      970


      2,179


      3,267

      Loss on extinguishment of debt

      929,508


      6,371,971


      -

      Change in fair value of derivative

      515,827


      -


      -

      Change in fair value of warrant liabilities

      (3,019)


      (24,894)


      (50,888)

      Change in fair value of November 2024 Debentures

      1,188,840


      2,119,726


      723,926

      Interest expense, net

      953,083


      5,186,289


      1,114,516

      Total other expense, net

      3,582,064


      13,553,000


      1,653,424







      Net loss

      $(9,266,081)


      $(19,167,093)


      $(7,567,187)







      Basic and diluted loss per share

      $(2.46)


      $(29.50)


      $(19.85)







      Basic and diluted weighted average shares outstanding*     

      3,840,563


      1,516,355


      381,215


      * Reflects the 1-for-9 reverse split effected September 5, 2025 and the 1-for-8 reverse split effected April 21, 2026.

      NAUTICUS ROBOTICS, INC.

      UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS



      Three Months Ended March 31,


      2026


      2025

      Cash flows from operating activities:




      Net loss

      $(9,266,081)


      $(7,567,187)

      Adjustments to reconcile net loss to net cash used in operating activities:




      Depreciation and amortization

      624,791


      480,376

      Accretion of debt discount

      9,976


      9,895

      Amortization of debt issuance cost

      111,840


      173,447

      Capitalized paid-in-kind (PIK) interest

      179,939


      166,882

      Accretion of exit fee

      12,600


      24,152

      Stock-based compensation

      225,552


      312,679

      Change in fair value of warrant liabilities

      (3,019)


      (50,888)

      Change in fair value of November 2024 Debentures

      1,188,840


      723,926

      Loss on extinguishment of debt

      929,508


      -

      Change in fair value of derivative

      515,827


      -

      Non-cash lease expense

      91,865


      95,247

      Changes in operating assets and liabilities:




      Accounts receivable

      378,683


      (115,200)

      Other assets

      (424,008)


      (281,542)

      Accounts payable and accrued liabilities

      (1,478,833)


      (517,629)

      Operating lease liabilities

      (103,249)


      (103,552)

      Net cash used in operating activities

      (7,005,769)


      (6,649,394)





      Cash flows from investing activities:




      Capital expenditures

      -


      (47,989)

      Acquisition of business, net of cash acquired

      -


      (3,871,992)

      Net cash used in investing activities

      -


      (3,919,981)





      Cash flows from financing activities:




      Proceeds from At the Market (ATM) offering, net

      2,343,144


      19,438,121

      Proceeds from November 2024 Debentures

      2,960,000


      -

      Repayment on AmeriState Loan

      (26,301)


      -

      Net cash provided by financing activities

      5,276,843


      19,438,121





      Net change in cash and cash equivalents

      (1,728,926)


      8,868,746





      Cash, cash equivalents and restricted cash, beginning of period

      7,616,952


      1,238,198

      Cash, cash equivalents and restricted cash, end of period

      $5,888,026


      $10,106,944

      NAUTICUS ROBOTICS, INC.
      Unaudited Reconciliation of Net Loss Attributable to Common Stockholders (GAAP) to Adjusted Net Loss Attributable to Common Stockholders (NON-GAAP)

      Adjusted net loss attributable to common stockholders is a non-GAAP financial measure which excludes certain items that are included in net loss attributable to common stockholders, the most directly comparable GAAP financial measure. Items excluded are those which the Company believes affect the comparability of operating results and are typically excluded from published estimates by the investment community, including items whose timing and/or amount cannot be reasonably estimated or are non-recurring.

      Adjusted net loss attributable to common stockholders is presented because management believes it provides useful additional information to investors for analysis of the Company's fundamental business on a recurring basis. In addition, management believes that adjusted net loss attributable to common stockholders is widely used by professional research analysts and others in the valuation, comparison, and investment recommendations of companies such as Nauticus.

      Adjusted net loss attributable to common stockholders should not be considered in isolation or as a substitute for net loss attributable to common stockholders or any other measure of a company's financial performance or profitability presented in accordance with GAAP. A reconciliation of the differences between net loss attributable to common stockholders and adjusted net loss attributable to common stockholders is presented below. Because adjusted net loss attributable to common stockholders excludes some, but not all, items that affect net loss attributable to common stockholders and may vary among companies, our calculation of adjusted net loss attributable to common stockholders may not be comparable to similarly titled measures of other companies.


      Three Months Ended


      3/31/2026


      12/31/2025


      3/31/2025







      Net loss attributable to common stockholders
      (GAAP)

      (9,457,331)


      (44,732,744)


      (7,567,187)

      Loss on extinguishment of debt

      929,508


      6,371,971


      -

      Change in fair value of derivative

      515,827


      -


      -

      Change in fair value of warrant liabilities

      (3,019)


      (24,894)


      (50,888)

      Change in fair value of November 2024
      Debentures

      1,188,840


      2,119,726


      723,926

      Preferred stock dividend

      191,250


      1,006,000


      -

      Deemed dividends for Series A, B and C
      Convertible Preferred Stock

      -


      24,559,650


      -

      Stock compensation expense

      225,552


      328,315


      312,679

      Adjusted net loss attributable to common
      stockholders (non-GAAP)

      $(6,409,373)


      $(10,371,976)


      $(6,581,470)

      SOURCE Nauticus Robotics, Inc.

      Modal title

      Also from this source

      Nauticus Robotics, Inc. Signs Non-Binding Letter of Intent for Strategic Investment of Up to $50 Million

      Nauticus Robotics, Inc. Signs Non-Binding Letter of Intent for Strategic Investment of Up to $50 Million

      Nauticus Robotics, Inc. (NASDAQ: KITT) ("Nauticus" or the "Company"), a developer of autonomous subsea robotic systems and autonomy software, today...

      Nauticus Robotics Announces 1-for-6 Reverse Stock Split

      Nauticus Robotics Announces 1-for-6 Reverse Stock Split

      Nauticus Robotics, Inc. (NASDAQ: KITT, "Nauticus" or the "Company") today announced that it will proceed with a 1-for-6 reverse stock split ("Reverse ...

      More Releases From This Source

      Explore

      Computer Software

      Computer Software

      Computer & Electronics

      Computer & Electronics

      Earnings

      Earnings

      News Releases in Similar Topics

      Contact PR Newswire

      • Call PR Newswire at 888-776-0942
        from 8 AM - 9 PM ET
      • Chat with an Expert
      • General Inquiries
      • Editorial Bureaus
      • Partnerships
      • Media Inquiries
      • Worldwide Offices

      Products

      • Explore Our Platform
      • Plan Campaigns
      • Create with AI
      • Distribute Press Releases
      • Report Results
      • Amplify Content

      About

      • About PR Newswire
      • About Cision
      • Careers
      • Accessibility Statement
      • APAC
      • APAC - Simplified Chinese
      • APAC - Traditional Chinese
      • Brazil
      • Canada
      • Czech
      • Denmark
      • Finland
      • France
      • Germany
      • India
      • Indonesia
      • Israel
      • Italy
      • Japan
      • Korea
      • Mexico
      • Middle East
      • Middle East - Arabic
      • Netherlands
      • Norway
      • Poland
      • Portugal
      • Russia
      • Slovakia
      • Spain
      • Sweden
      • United Kingdom
      • Vietnam

      My Services

      • All New Releases
      • Platform Login
      • Data Privacy

      Do not sell or share my personal information:

      • Submit via [email protected] 
      • Call Privacy toll-free: 877-297-8921

      Contact PR Newswire

      Products

      About

      My Services
      • All News Releases
      • Platform Login
      • ProfNet
      Call PR Newswire at
      888-776-0942
      • Terms of Use
      • Privacy Policy
      • Information Security Policy
      • Site Map
      • RSS
      • Cookies
      Copyright © 2026 Cision US Inc.