HOUSTON, May 14, 2026 /PRNewswire/ -- Nauticus Robotics, Inc. ("Nauticus" or "Company") (NASDAQ:KITT), a leading innovator in subsea robotics and software, today announced its financial results for the quarter ended March 31, 2026.
John Gibson, Nauticus President and CEO, stated, "The first quarter of 2026 reflected the seasonal softness typically experienced during the winter offshore operating season. During this period, Nauticus remained focused on strengthening operational readiness, advancing deployment of our Nauticus ToolKITT™ autonomy platform, and progressing our international expansion strategy across the UAE and broader GCC region.
We are also pleased to welcome Brian Allen as Chief Revenue Officer. Brian brings deep subsea robotics, autonomy, and commercial leadership experience that we believe will enhance our ability to convert growing customer interest into revenue opportunities across offshore energy, defense, international markets, and technology licensing.
As offshore activity strengthens through the remainder of 2026, we believe Nauticus is increasingly well positioned to benefit from improved fleet readiness, continued technology advancement, and a growing pipeline of commercial opportunities."
STRATEGIC AND OPERATIONAL HIGHLIGHTS
Expansion into UAE and GCC Markets
During the first quarter, Nauticus continued advancing its international expansion strategy across the United Arab Emirates (UAE) and broader Gulf Cooperation Council (GCC) region. The Company progressed efforts to establish a long-term operational and commercial presence in Ras Al Khaimah, including the evaluation of facilities capable of supporting future regional operations, manufacturing, customer support, and commercial activities.
Nauticus also engaged a UAE-based marketing agency to support regional market activation initiatives, including enhancements to branding, website presence, and commercial materials designed to strengthen customer engagement across both regional and global markets.
Offshore Operations and Fleet Readiness
While first quarter offshore activity was impacted by expected seasonal softness, Nauticus used the period to complete significant annual maintenance, refurbishment, and readiness activities across several remotely operated vehicle (ROV) systems. These efforts are intended to position the Company's fleet for increased utilization as offshore activity improves through the remainder of 2026.
The Company continues to pursue opportunities across offshore oil and gas, offshore wind, and defense-related applications in the Gulf of America, both U.S. coasts, and select international markets.
Advancement of Nauticus ToolKITT™ Platform
Nauticus continued advancing integration of Nauticus ToolKITT™, the Company's proprietary autonomy software platform, across its subsea systems. The Company also continued integrating new high-definition camera systems and other advanced sensor technologies into its vehicle systems to enhance navigation, operational efficiency, data quality, and customer value.
Management believes Nauticus ToolKITT™ remains one of the most advanced commercially deployable autonomy software platforms currently available for subsea vehicles and sees continued opportunity for future software licensing, technology-driven services, and autonomy-driven commercial offerings.
Commercial Leadership Expansion
This month, Nauticus appointed Brian Allen as Chief Revenue Officer. Mr. Allen brings nearly two decades of offshore robotics, autonomy, and commercial leadership experience, including building and scaling subsea technology businesses serving offshore energy and infrastructure markets globally.
The Company expects this expanded commercial leadership structure to support future growth across software licensing, offshore services, hardware sales, strategic partnerships, and international expansion initiatives.
CUSTOMER DEMAND AND OUTLOOK
As Nauticus moves through 2026, the Company remains focused on expanding commercial activity across offshore energy, defense, and international markets. The Company is also increasing its emphasis on technology-driven revenue opportunities, including autonomy software licensing, technology-enabled services, and strategic international partnerships.
Management believes improving offshore activity levels, combined with continued investment in operational capabilities, fleet readiness, commercial infrastructure, and international market development, position Nauticus to pursue additional opportunities throughout the remainder of 2026.
FINANCIAL HIGHLIGHTS
Revenue: Nauticus reported first-quarter revenue of $0.2 million, compared to $0.2 million for the prior-year period and $1.1 million for the prior quarter.
Operating Expenses: Total expenses during the first quarter were $5.8 million, a $0.2 million decrease from the prior-year period and a $0.8 million decrease from Q4 2025.
Adjusted Net Loss: Nauticus reported adjusted net loss of $6.4 million for the first quarter, compared to an adjusted net loss of $6.6 million for the same period in 2025 and an adjusted net loss of $10.4 million for Q4 2025. Adjusted net loss is a non-GAAP measure which excludes the impact of certain items, as shown in the non-GAAP reconciliation table below.
Net Loss: For the first quarter, Nauticus recorded a net loss of $9.3 million, or basic loss per share of $2.46. This compares with a net loss of $7.6 million from the same period in 2025, and a net loss of $19.2 million in the prior quarter.
G&A Cost: Nauticus reported G&A first-quarter costs of $3.2 million, which is a decrease of $1.1 million compared to the same period in 2025 and a $0.6 million increase from the fourth quarter in 2025.
Balance Sheet and Liquidity
As of March 31, 2026, the Company had cash, cash equivalents, and restricted cash of $5.9 million, compared to $7.6 million as of December 31, 2025.
CONFERENCE CALL DETAILS
Nauticus will host a conference call on May 19, 2026 at 9:00 a.m. Central Time to discuss its results for the quarter ended March 31, 2026. To participate in the earnings conference call, participants should dial toll free at +1-833-461-5787, conference ID: 228928122, or access the listen-only webcast at the following link: https://events.q4inc.com/attendee/228928122. A link to the webcast will also be available on the Company's IR website (https://ir.nauticusrobotics.com/). Following the conclusion of the call, a recording will be available on the Company's website.
About Nauticus Robotics, Inc.
Nauticus Robotics, Inc. develops autonomous robots for the ocean industries. Autonomy requires the extensive use of sensors, artificial intelligence, and effective algorithms for perception and decision allowing the robot to adapt to changing environments. The company's business model includes using robotic systems for service, selling vehicles and components, and licensing of related software to both the commercial and defense business sectors. Nauticus has designed and is currently testing and certifying a new generation of vehicles to reduce operational cost and gather data to maintain and operate a wide variety of subsea infrastructure. Besides a standalone service offering and forward-facing products, Nauticus' approach to ocean robotics has also resulted in the development of a range of technology products for retrofit/upgrading traditional ROV operations and other third-party vehicle platforms. Nauticus' services provide customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure.
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Act"), and are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as well as protections afforded by other federal securities laws. Such forward-looking statements include but are not limited to: the expected timing of product commercialization or new product releases; customer interest in Nauticus' products; estimated operating results and use of cash; and Nauticus' use of and needs for capital. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "intends," or "continue" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that may cause actual events, results, or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Nauticus' management's current expectations and beliefs, as well as a number of assumptions concerning future events. There can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Nauticus is not under any obligation and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports which Nauticus has filed or will file from time to time with the Securities and Exchange Commission (the "SEC") for a more complete discussion of the risks and uncertainties facing the Company and that could cause actual outcomes to be materially different from those indicated in the forward-looking statements made by the Company, in particular the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in documents filed from time to time with the SEC, including Nauticus' most recent Annual Report on Form 10-K filed with the SEC and Quarterly Reports on Form 10-Q filed with the SEC from time to time. Should one or more of these risks, uncertainties, or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The documents filed by Nauticus with the SEC may be obtained free of charge at the SEC's website at www.sec.gov
NAUTICUS ROBOTICS, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
March 31,2026
December 31,2025
(Unaudited)
Assets
Current Assets:
Cash and cash equivalents
5,285,230
7,016,610
Restricted cash
602,796
600,342
Accounts receivable, net
-
378,683
Prepaid expenses
1,511,810
1,055,324
Other current assets
190,533
203,025
Total Current Assets
7,590,369
9,253,984
Property and equipment, net
21,251,878
21,827,769
Operating lease right-of-use assets, net
467,140
559,005
Other assets
71,290
