Company: KITTW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001849820-25-000211
Chunk: 58

Company: Nauticus Robotics, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 termination of $356 was reported under other (income) expense on the condensed consolidated statement of operations.The Company’s other operating leases include leases for certain office equipment.The following table presents the Company’s lease costs which are included in general and administrative expenses in the unaudited condensed consolidated statements of operations:Three months endedJune 30,Six months ended June 30,2025202420252024Fixed lease expense$122,318 $122,798 $244,636 $259,443 Variable lease expense54,081 89,910 126,275 214,271 Total operating lease expense176,399 212,708 370,911 473,714 Short-term lease expense39,379 6,915 47,236 27,428 Total lease expense$215,778 $219,623 $418,147 $501,142 Cash paid for operating leases was $95,247 and $245,558 for the six months ended June 30, 2025, and 2024, respectively.

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

The following table presents the balance and classifications of the Company’s right-of-use assets and lease liabilities included in the unaudited condensed consolidated balance sheets:June 30,2025December 31,2024Operating lease right-of-use assets, net$900,292 $1,094,743 Current portion of operating lease liabilities459,249 435,307 Long-term operating lease liabilities533,981 768,939 Total operating lease liabilities$993,230 $1,204,246 For operating lease assets and liabilities, the weighted average remaining lease term was 2.7 years and 3 years as of June 30, 2025, and December 31, 2024, respectively. The weighted average discount rate used in the valuation over the remaining lease terms was 10.3% as of June 30, 2025, and 11.9% as of December 31, 2024.The following table presents the Company’s maturities of lease liabilities as of June 30, 2025:2025 (excluding the six months ended June 30, 2025) $263,913 2026535,267 2027268,072 202825,387 Total lease payments1