Company: KITTW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001849820-25-000128
Chunk: 75

Company: Nauticus Robotics, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 75
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Trepid finalized on March 20, 2025 intends to integrate our AI-driven autonomy software, ToolKITT, into SeaTrepid's existing ROV fleet. We believe the combination will showcase unprecedented advancements in power efficiency and operational performance across the industry. The ability of ROVs and Aquanaut to seamlessly communicate at depth unlocks new service opportunities, enabling two autonomous systems to collaborate in delivering cutting-edge underwater solutions. 

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Table of Contents

Results of Operations

Three months ended March 31, 2025, compared to three ended March 31, 2024

The following table sets forth summarized condensed consolidated financial information:

Three months ended March 31,Change 20252024$ % RevenueService$165,256 $464,354 $(299,098)-64 %Total revenue165,256 464,354 (299,098)-64 %   Costs and Expenses  Cost of revenue1,238,957 2,093,955 (854,998)-41 %Depreciation480,376 426,185 54,191 13 %Research and development- 63,534 (63,534)-100 %General and administrative4,309,686 3,430,010 879,676 26 %Total costs and expenses6,029,019 6,013,684 15,335 - %   Operating loss(5,863,763)(5,549,330)314,433 6 %   Other (income) expense:  Other (income) expense, net(87,397)(96,473)9,076 -9 %Gain on lease termination- (15,365)15,365 -100 %Foreign currency transaction loss3,267 5,147 (1,880)-37 %Loss on extinguishment of debt- 78,734,949 (78,734,949)100 %Change in fair value of warrant liabilities(50,888)(8,309,623)(8,258,735)-99 %Change in fair value of New Convertible Debentures- (4,504,426)(4,504,426)-100 %Change in fair value of November 2024 Debentures723,926 - 723,926 -100 %Interest expense, net1,114,516 1,475,397 (