Nauticus Robotics, identified by the ticker KITT, has entered into a strategic partnership with Open Ocean Robotics to innovate in ocean monitoring. This collaboration centers around the use of uncrewed surface vehicles (USVs), aiming to transform the way subsea asset management is approached within the energy industry. The joint effort is set to lower the traditionally high costs of subsea inspections, maintenance, and monitoring, while simultaneously offering significant environmental benefits.
By integrating autonomous subsea vehicles with surface-based USVs, the partnership intends to deliver continuous, real-time monitoring and data collection. This approach reduces reliance on expensive crewed vessels, thus presenting a more cost-effective and sustainable solution for ocean monitoring. The strategic collaboration between Nauticus Robotics (KITT, Financial) and Open Ocean Robotics highlights an innovative step toward more efficient and environmentally conscious marine operations.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Nauticus Robotics Inc (KITT, Financial) is $2.50 with a high estimate of $2.50 and a low estimate of $2.50. The average target implies an upside of 175.63% from the current price of $0.91. More detailed estimate data can be found on the Nauticus Robotics Inc (KITT) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Nauticus Robotics Inc's (KITT, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Nauticus Robotics Inc (KITT, Financial) in one year is $0.37, suggesting a downside of 59.21% from the current price of $0.907. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Nauticus Robotics Inc (KITT) Summary page.
KITT Key Business Developments
Release Date: May 15, 2025
- Revenue: $0.2 million for Q1 2025, down $0.3 million sequentially and year-over-year.
- Operating Expenses: $6 million, flat from Q1 2024 and down $0.5 million sequentially.
- G&A Costs: $4.3 million, improved by $0.9 million compared to Q1 2024, but increased $0.4 million sequentially due to non-recurring professional fees.
- Net Loss: $7.6 million, a decrease of $76.9 million sequentially and $65.3 million year-over-year.
- Adjusted Net Loss: $6.8 million, compared to $6.9 million in Q4 2024.
- Cash Position: $10.1 million at the end of Q1 2025, up from $1.2 million at the end of 2024.
- Debt Reduction: Reduced debt and associated interest by $3 million.
- Capital Raise: $20 million from at-the-market facility to fund acquisition and capital investments.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Successful acquisition of SeaTrepid International, expanding operational scale and commercial opportunities.
- Mobilization of equipment and securing extended contracts, indicating growing demand for Nauticus Robotics Inc (KITT, Financial)'s technologies.
- Significant reduction in net loss compared to previous quarters, showing financial improvement.
- Strong cash position at the end of Q1 2025, primarily due to funding from the at-the-market offering.
- Positive customer response to the integration of SeaTrepid's operational legacy with Nauticus's technology, leading to new master service agreements.
Negative Points
- Revenue for Q1 2025 was only $0.2 million, a decrease from the previous quarter and the same quarter last year.
- Operating expenses remained high at $6 million, with non-recurring professional fees contributing to increased G&A costs.
- Net loss for the quarter was $7.6 million, although improved, still significant.
- The company faces challenges in scaling equipment and personnel capacity to meet growing demand.
- Potential pricing pressure from competitors in the oil and gas market could impact revenue.
