Company: KITTW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001849820-25-000278
Chunk: 4

Company: Nauticus Robotics, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 4
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6%3,545,722 3,798,296 (252,574)-7 %    Net income (loss)$(6,639,948)$17,931,827 $24,571,775 -137%$(21,661,311)$(50,366,134)$(28,704,823)-57 %

Revenue. For the three and nine months ended September 30, 2025, revenue increased $1,606,608 or 434% and  $2,881,368 or 216%, respectively, as compared to the three and nine months ended September 30, 2024, primarily driven by the additional activity from the SeaTrepid acquisition performed on March 20, 2025.

Cost of revenue. For the three months ended September 30, 2025, cost of revenue increased $1,618,875 or  61% as compared to the three months ended September 30, 2024 due to the cost of additional revenue. For the nine months ended September 30 2025, cost of revenue increased $1,392,524 or 18%, as compared to the nine months ended September 30, 2024 driven by the increase in revenue. 

Depreciation. For the three and nine months ended September 30, 2025, depreciation increased $144,733 or 32% and $361,901, or 28%, respectively, as compared to the three and nine months ended September 30, 2024, due to the increase in property and equipment primarily related to the acquisition of SeaTrepid.

Research and development. For the nine months ended September 30, 2025, research and development costs decreased $63,534, or 100%, respectively, compared to the nine months ended September 30, 2024, due to the Company achieving technological feasibility in both hardware and software development and focusing on bringing its products to market. From April 1, 2024, no costs were classified as research and development.

42

General and administrative. For the three and nine months ended September 30, 2025, general and administrative costs increased $151,045 or 5% and $2,171,620, or 23%, respectively, compared to the three and nine months ended September 30, 2024, driven by the SeaTrepid acquisition related costs as well as integration of their structure. 

Other (income) expense, net