Nauticus Robotics, Inc. Q4 FY2025 earnings call

2025 was a defining year with progress across financial, operational, and technological dimensions. Integration of C-Trepid expanded capabilities. Demand for autonomy is accelerating. Focus on defense, international expansion with Master Investment Group in UAE. Aligned leadership and organization. Reverse stock split executed. Discussed financial results, international expansion progress, government opportunities, 2025 commercial season recap, offshore commercial pipeline, Nauticus Toolkit progress, aquanaut and electric manipulators updates.

Revenue for 2025 was $5.3 million, up $3.5 million from 2024. The increase was largely due to the acquisition of C-Trepid in early 2025. Operating expenses were $29 million, up $3.9 million from 2024. Cost of revenue as a percentage of revenue improved by approximately 300 percentage points. Net loss for the year was $40.8 million, a 94.1 million decrease from 2024. Cash at the end of 2025 was $7.6 million compared to $1.3 million last year. Shareholder equity at the end of 2025 was $7.0 million compared to a shareholder deficit of $20.4 million in 2024.

2026 focus on executing against commercialization objectives, maintaining disciplined cost management. Prioritize near-term commercial application, expand footprint with existing customers, extend software platform across additional systems and partners. Expect to see revenue growth from various initiatives including defense contracts, international expansion, and software deployment.

Forward-looking statements subject to risks and uncertainties beyond control, which can cause actual results to differ materially from expectations. Risks related to market adoption of autonomy solutions, competition, regulatory changes, and ability to execute on growth strategies.

Q: Where are the most executable near-term revenue opportunities and growth cadence for 2026?

A: Prioritizing winning awards for long-term contracts on ROVs, pursuing defense opportunities, international contracts.

Q: What milestones should investors watch for with MIG?

A: Delays due to Middle East conflict, but MIG is well-connected and excited about manufacturing in UAE.

Q: What types of uses are actively evaluating for ELOC and pace of deployment?

A: ELOC evaluated for defense sector and potential ocean minerals with long-term contracts.

Q: Biggest customer opportunities and long-term revenue contracts?

A: Offshore oil and gas super majors, large independents, national oil companies; defense sector, geophysical sector, port security.

Q: Sequence of events with MIG partnership and aquanaut production?

A: Aim for volume pricing, reduce lead time, 18-month window for next generation aquanaut production.

Q: Hardness of finding underwater deposit for mining and capex?

A: Identify resource density for profitability, exploration phase, aquanaut useful for monitoring plumes and contamination.

Q: Breakdown of 2025 revenue, kit software revenue, aquanaut deployment and revenue?

A: Predominantly ROV related, kit software revenue emerging, two aquanauts in water with funded testing and potential revenue-generating projects