Company: KITTW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001849820-25-000278
Chunk: 68

Company: Nauticus Robotics, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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 termination of $356 was reported under other (income) expense on the condensed consolidated statement of operations.The Company’s other operating leases include leases for certain office equipment.The following table presents the Company’s lease costs which are included in general and administrative expenses in the unaudited condensed consolidated statements of operations:Three months endedSeptember 30,Nine months ended September 30,2025202420252024Fixed lease expense$120,928 $129,510 $365,564 $388,953 Variable lease expense55,135 47,353 181,410 261,624 Total operating lease expense176,063 176,863 546,974 650,577 Short-term lease expense7,650 6,915 54,886 34,343 Total lease expense$183,713 $183,778 $601,860 $684,920 Cash paid for operating leases was $365,564 and $379,720 for the nine months ended September 30, 2025, and 2024, respectively.The following table presents the balance and classifications of the Company’s right-of-use assets and lease liabilities included in the unaudited condensed consolidated balance sheets:September 30,2025December 31,2024Operating lease right-of-use assets, net$800,419 $1,094,743 Current portion of operating lease liabilities472,543 435,307 Long-term operating lease liabilities409,438 768,939 Total operating lease liabilities$881,981 $1,204,246 For operating lease assets and liabilities, the weighted average remaining lease term was 2.4 years and 3 years as of September 30, 2025, and December 31, 2024, respectively. The weighted average discount rate used in the valuation over the remaining lease terms was 11.5% as of September 30, 2025, and 11.9% as of December 31, 2024.The following table presents the Company’s maturities of lease liabilities as of September 30, 2025:2025 (excluding the nine months ended September 30, 2025) $131,609 2026535,267 2027268,072 202825,387 Total lease payments960,335 Total present value discount(78,354)Operating lease liabilities$881,981 

9. Commitments and Contingencies

Litigation – From time