Nauticus Robotics, Inc. Q3 FY2024 earnings call

• John Gibson discussed achieving an industry first in Q3, focusing on creating a 2025 business backlog with commercial and defense work, and progress on NASDAQ listing standards with debt conversion. - Daniel Dayhart reported the first commercial project using the Aquanaut vehicle in the deepwater Gulf of Mexico exceeded expectations, with the vehicle providing high-quality data using untethered autonomy up to 1000 meters. - Jason Close talked about advancing Toolkit software functionality with a commercial release planned for 2025 and progress on autonomy and third-party integrations. - JD Yamakowski mentioned productive conversations with defense partners and environmental monitoring opportunities for the Aquanaut vehicle. - Vicky Hay detailed financial results, including the reverse split, debt conversion efforts, and financial metrics like revenue, expenses, and cash position.

In the third quarter, revenue was $0.4 million. This is down $0.1 million from the second quarter of 2024 and down $1.2 million from the same period last year. Operating expenses for Q3 were $5.9 million, a $3.9 million improvement from Q3 2023. Cost for Q3 were $2.8 million, an improvement of $3.9 million compared to Q3 2023. Net loss for the quarter was $11.4 million. Cash at the end of Q3 2024 was $2.9 million compared to $0.7 million at the end of 2023.

• Working to create a 2025 business backlog of commercial and defense work. - Plan to release Toolkit software commercially in 2025. - Expect the second Aquanaut vehicle to be available for commercial service in Q1 2025. - Actively negotiating day rate contracts to improve revenue. - Progressing initiatives to comply with NASDAQ listing requirements via debt conversion.

• Forward-looking statements are subject to risks and uncertainties beyond control that could materially affect actual results. - NASDAQ listing compliance risks, addressed by debt conversion efforts. - Seasonality in business operations, working to mitigate with technical modifications and new geographies.

Q: Are there any questions?

A: At this time, there are no questions in the queue.