Nauticus Robotics Q2 revenue declines, net loss widens - KITT News | RalliesNauticus Robotics Q2 revenue declines, net loss widens
K
KITT• Outlook
- Company expects ToolKITT commercialization and international expansion to support future bookings growth
- Nauticus is increasing sales activity in international and defense markets
- Potential revenue from multiphase defense opportunity if contract is awarded
Overview
- US subsea robotics firm's Q2 revenue declined sharply year-over-year
- Company posted a wider Q2 net loss compared to last year
- Company launched ToolKITT software and expanded into offshore wind and defense markets
Key details
| Metric | Actual |
|---|
| Q2 revenue | $900,000 |
| Q2 net loss | $11.10 mln |
| Q2 operating expenses | $6.90 mln |
Result drivers
- ToolKITT commercialization - Co launched ToolKITT software and completed field integration with customer operations
- Market diversification - Co expanded presence in offshore wind, subsea cable, and international markets to offset challenging oil and gas activity
- - Co increased near-term focus on defense and government markets, completing initial work to support evaluation of broader defense opportunities
Defense and government focus
