Company: KITTW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001849820-25-000128
Chunk: 41

Company: Nauticus Robotics, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 at March 31, 2025 and December 31, 2024 of $346,279. Unfulfilled Performance Obligations – As of March 31, 2025, we expect to recognize approximately $180,000 of revenue in future periods from unfulfilled performance obligations from existing contracts with customers.If any of our contracts were to be modified or terminated, the expected value of the unfulfilled performance obligations of such contracts would be reduced.

4. Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:March 31,2025December 31,2024Prepaid material purchases$395,904 $394,950 Prepaid insurance998,214 817,717 Other prepayments301,873 176,767 Total prepaid expenses$1,695,991 $1,389,434 Other current assets607,391 573,275 Total other current assets$607,391 $573,275 

5. Property and Equipment

Property and equipment consisted of the following:Useful Life (years)March 31,2025December 31,2024Land$444,435 $- Leasehold improvements51,804,884 833,920 Property & equipment3-5 years11,863,554 7,528,597 Technology hardware equipment3-5 years1,969,341 1,966,841 Total16,082,214 10,329,358 Less accumulated depreciation(4,436,799)(3,958,780)Construction in progress11,167,017 10,744,668 Total property and equipment, net$22,812,432 $17,115,246 

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Table of ContentsNAUTICUS ROBOTICS, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

6. Accrued Liabilities

Accrued liabilities consisted of the following:March 31,2025December 31,2024Accrued compensation$677,088 $956,399 Accrued severance1,031,731 1,031,731 Accrued professional fees150,000 2,350 Accrued insurance566,342 440,562 Accrued sales and property taxes233,794 428,801 Accrued royalties437,500 400,000