Company: KITTW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001849820-25-000211
Chunk: 44

Company: Nauticus Robotics, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 assets were $0 and $0 at June 30, 2025 and December 31, 2024 respectively.Contract liabilities include billings in excess of revenue recognized and accruals for certain contract obligations. The Company had contract liabilities at June 30, 2025 and December 31, 2024 of  $343,493 and $346,279, respectively. Unfulfilled Performance Obligations – As of June 30, 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:June 30,2025December 31,2024Prepaid material purchases$395,554 $394,950 Prepaid insurance798,317 817,717 Other prepayments252,505 176,767 Total prepaid expenses$1,446,376 $1,389,434 Other current assets607,491 573,275 Total other current assets$607,491 $573,275 

5. Property and Equipment

Property and equipment consisted of the following:Useful Life (years)June 30,2025December 31,2024Land$444,435 $- Leasehold improvements51,804,884 833,920 Property & equipment3-5 years11,863,554 7,528,597 Technology hardware equipment3-5 years1,969,841 1,966,841 Total16,082,714 10,329,358 Less accumulated depreciation(5,011,362)(3,958,780)Construction in progress11,167,017 10,744,668 Total property and equipment, net$22,238,369 $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:June 30,2025December 31,2024Accrued compensation$450,847 $956,399 Accrued severance336,538 1,031,