Company: KITTW
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001849820-25-000123
Chunk: 85

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-30
Form: ARS
Chunk 85
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 entitled “Risks Related to Our Business and Industry — A significant amount of our revenues in 2024 and 2023 was derived from a limited number of customers. A substantial portion of our current revenue may be generated by sales to government entities, which are subject to a number of uncertainties, challenges, and risks,” “Risks Related to Our Business and Industry — Our business plans require a significant amount of capital. Our future capital needs may require us to sell additional equity or debt securities that may dilute our stockholders or introduce covenants that may restrict our operations or our ability to pay dividends,” “Risks Related to Our Business and Industry — With our service offering still being commercialized at a large scale, we have limited current customers, and there is no assurance that expected customer demand will result in binding orders or subscriptions,” “Risks Related to Our Business and Industry — If we are successful in commercializing our products and services, our revenue will be concentrated in a limited number of models for the foreseeable future,” “Risks Related to Our Business and Industry — We may be unable to adequately control the costs associated with our operations.” Table of Contents 46

Results of Operations Year Ended December 31, 2024 Compared to Year Ended December 31, 2023 The following table sets forth summarized consolidated financial information: For The Year Ended December 31, Change $ Change % 2024 2023 Revenue: Service $ 1,807,472 $ 6,605,852 $ (4,798,380) -73% Service - related party - 500 (500) -100% Total revenue 1,807,472 6,606,352 (4,798,880) -73% Costs and expenses: Cost of revenue (exclusive of items shown separately below) 9,732,205 11,928,931 (2,196,726) -18% Depreciation 1,736,828 729,412 1,007,416 138% Research and development 82,850 1,399,560 (1,316,710) -94% General and administrative 13,370,486 18,271,832 (4,901,346) -27% Severance - 1,476,636 (1,476,636) -100% Impairment of property and equipment - 25,354,791 (25,354,791) -100% Loss on contract - 2,542,913