Nauticus Robotics (KITT) Q1 2026 earnings summary

Executive summary

• Expanded international presence and commercial initiatives in the UAE and GCC, supported by new marketing efforts and facility evaluations.

• Appointed a new Chief Revenue Officer to strengthen commercial leadership and drive growth in offshore energy, defense, and technology licensing markets.

• Advanced integration of SeaTrepid and Nauticus ToolKITT platforms, enhancing subsea vehicle capabilities and broadening the customer base.

• Maintained focus on technology-driven revenue and expanding commercial activity in offshore energy, defense, and international markets.

• Market response to expanded service offerings remains positive, with robust demand from oil and gas, wind, and environmental sectors.

Financial highlights

• Q1 2026 revenue was $159,575, down from $1,057,298 in Q4 2025 and $165,256 in Q1 2025.

• Net loss for Q1 2026 was $9,266,081 (loss per share of $2.46), compared to $19,167,093 in Q4 2025 and $7,567,187 in Q1 2025.

• Adjusted net loss (non-GAAP) for Q1 2026 was $6,409,373, improving from $10,371,976 in Q4 2025 and $6,581,470 in Q1 2025.

• Cash and cash equivalents at March 31, 2026 were $5,285,230, down from $7,016,610 at December 31, 2025.

• Net cash used in operating activities for Q1 2026 was $7,005,769.

Outlook and guidance

• Management expects improved offshore activity, increased fleet utilization, and continued investment in operational and commercial infrastructure to drive growth through 2026.

• Near-term pipeline is strong, supported by active contracts and international interest.

• Offshore energy and wind sectors are recovering, creating new opportunities.