Nauticus Robotics Q2 revenue $1.1M (down 61% YoY); adjusted loss $8.1M; signs Shell/Petrobras contracts

Nauticus Robotics, Inc.

2023-Q2 EPS reported $0.16 revenue$3,948,895

Revenue $1.1M vs $2.8M YoY; adjusted net loss $8.1M ($0.20/share) vs $3.4M loss a year ago.
Net income $20.7M driven by warrant revaluation; operating expenses $8.0M (up 45%).
Closed first tranche of $15M senior secured debt facility; $5M deposited; cash $4.4M.
Signed contracts with Shell (Gulf of Mexico) and Petrobras (deploy Aquanaut); additional Leidos award.
First 2nd-gen Aquanaut completed 100+ hrs testing; expected to qualify for Shell service in September.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Nauticus Robotics, Inc. reported second quarter ended June 30, 2023 results: revenue $1.1 million, net income $20.7 million, EPS $0.49 per diluted share.

Period: second quarter ended June 30, 2023
Revenue: $1.1 million
Net income: $20.7 million
EPS: $0.49 per diluted share
Result: reported results

Exact text from the filing

Nauticus reported second quarter revenue of $1.1 million compared to $2.8 million in the prior-year period. The decrease in revenue is primarily attributable to delays in contract authorization with government entities. Total operating expenses during the second quarter were $8.0 million, a $2.5 million increase from the prior-year period. $1.7 million of the increase was associated with non-cash stock compensation expense. The balance of increase was attributable to increased general and administrative (“G&A”) costs associated with being a public company as well as to support the continued growth of the Company as it transitions to commercial operations. For the quarter, Nauticus recorded a net income attributable to common stockholders of $20.7 million, or $0.49 per diluted share.

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Source: SEC EDGAR

accession 0001213900-23-065915

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