Company: KITTW
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001849820-25-000123
Chunk: 86

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-30
Form: ARS
Chunk 86
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 (2,542,913) -100% Total costs and expenses 24,922,369 61,704,075 (36,781,706) -60% Operating loss (23,114,897) (55,097,723) 31,982,826 -58% Other (income) expense: Other (income) expense, net 110,361 627,580 (517,219) -82% Loss on lease termination 18,721 453,162 (434,441) -96% Foreign currency transaction loss 61,597 44,020 17,577 40% Loss on extinguishment of debt 127,605,940 - 127,605,940 100% Loss on exchange of warrants - 590,266 (590,266) -100% Change in fair value of warrant liabilities (13,559,010) (14,902,427) 1,343,417 -9% Change in fair value of New Convertible Debentures (7,989,948) - (7,989,948) 100% Change in fair value of November 2024 Debentures 435,864 - 435,864 100% Interest expense, net 5,108,227 8,776,277 (3,668,050) -42% Total other (income) expense, net 111,791,752 (4,411,122) 116,202,874 -2634% Net loss $ (134,906,649) $ (50,686,601) $ (84,220,048) 166% Revenue. For the year ended December 31, 2024, net revenue decreased by $4,798,880, or 73%, as compared to 2023. The decrease in revenue is primarily attributable to the reduction in government contracts in 2024. Cost of revenue. For the year ended December 31, 2024, cost of revenue decreased by $2,196,726, or 18% as compared to 2023. The decrease is primarily attributable to the decline in activity partially offset by costs relating to the commercialization of the Aquanaut vehicle. Table of Contents 47

Depreciation. For the year ended December 31, 2024, depreciation increased by $1,007,416, or 138%, as compared to 2023 primarily due to the increase in property and equipment. Research and development