Nauticus Q3 revenue $3.0M (+51% YoY); net loss $11.0M; cash $35.9M after CLAQ deal

Nauticus reported third quarter revenue of $3.0 million, an increase of 51% compared to the prior-year period. The increase in revenue is primarily attributable to the addition of new defense contracts, including the continued lease of an Aquanaut vehicle. Total operating expenses during the third quarter were $9.0 million, a $6.0 increase from the prior-year period. Third quarter of 2022 operating expenses includes $3.5 million of expenses related to the Company’s business combination with CLAQ. Other drivers of the year-over-year increase are primarily related to higher costs of revenue and increased general and administrative (“G&A”) costs. Included in the increased G&A costs are employee salaries, sales and marketing, and professional fees in order to scale the business further and manage the additional responsibilities of a public company. For the quarter, Nauticus recorded a net loss attributable to common stockholders of $11.0 million, or a loss of $0.67 per basic and diluted sh