Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001849820-25-000108
Chunk: 95

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 95
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%General and administrative13,370,486 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 (2,542,913)-100 %Total costs and expenses24,922,369 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, net110,361 627,580 (517,219)-82 %Loss on lease termination18,721 453,162 (434,441)-96 %Foreign currency transaction loss61,597 44,020 17,577 40 %Loss on extinguishment of debt127,605,940 - 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 Debentures435,864 - 435,864 100 %Interest expense, net5,108,227 8,776,277 (3,668,050)-42 %Total other (income) expense, net111,791,752 (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