Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000097
Chunk: 54

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 54
---
 |     |      |           - |     |        |  78,734,949 |     |   |  100 | % |
| Change in fair value of warrant liabilities        |     |                              |  -8,309,623 |     |      |   2,236,904 |     |        | -10,546,527 |     |   | -471 | % |
| Change in fair value of new convertible debentures |     |                              |  -4,504,426 |     |      |           - |     |        |  -4,504,426 |     |   |  100 | % |
| Interest expense, net                              |     |                              |   1,475,397 |     |      |   4,935,067 |     |        |  -3,459,670 |     |   |  -70 | % |
| Net loss                                           |     |                            $ | -72,838,936 |     |    $ | -14,138,665 |     | $      |  58,700,271 |     |   |  415 | % |

Revenue . For the three months ended March 31, 2024, revenue decreased $2,356,426, or 84% as compared to the three months ended March 31, 2023 primarily driven by a reduction in government related contracts.

Cost of revenue. For the three months ended March 31, 2024, cost of revenue decreased $838,312, or 29% as compared to the three months ended March 31, 2023 driven by the decrease in revenue.

Depreciation . For the three months ended March 31, 2024, depreciation increased $153,086, or 56% as compared to the three months ended March 31, 2023 primarily due to the increase in property and equipment.

Research and development . For the three months ended March 31, 2024, research and development costs decreased $163,433, or 72% compared to the three months ended March 31, 2023, primarily due to the Company achieving technological feasibility in both hardware and software development and focusing on bringing its products to market.

General and administrative. For the three months ended March 31, 2024, general and administrative costs decreased $1,782,634, or 34% compared to the three months ended March 31, 2023 ,