The company struggles with persistent negative gross margins, which reached a low of -115.8% in 2025Q3, reflecting the high costs of specialized subsea service contracts.
| Sales/Revenue | 5.27M | 5.27M | 1.81M | 6.61M | 11.43M | 8.59M | 3.99M | 5.82M |
| Revenue Growth % | 249.33% | 191.84% | -72.64% | -42.23% | 33.1% | 115.09% | -31.4% | - |
| Cost of Goods Sold | 13.09M | 12.34M | 9.73M | 11.93M | 11.86M | 6.85M | 4.06M | 6.93M |
| COGS % of Revenue | - | 233.87% | 538.44% | 180.57% | 103.75% | 79.73% | 101.64% | 119.08% |
| Gross Profit | -7.82M | -7.06M | -7.92M | -5.32M | -428.9K | 1.74M | -65.55K | -1.11M |
| Gross Margin % | -148.45% | -133.87% | -438.44% | -80.57% | -3.75% | 20.27% | -1.64% | -19.08% |
| Gross Profit Growth % | - | 10.89% | -48.89% | -1140.98% | -124.63% | 2756.39% | 94.1% | - |
| Operating Expenses | 15.73M | 16.67M | 15.19M | 49.78M | 17.95M | 8.26M | 8.67M | 8.53M |
| OpEx % of Revenue | - | 315.94% | 840.41% | 753.44% | 156.98% | 96.16% | 217.09% | 146.44% |
| Selling, General & Admin | 13.24M | 14.32M | 13.37M | 18.27M | 15.06M | 4.36M | 3.32M | 2.46M |
| SG&A % of Revenue | - | 271.48% | 739.73% | 276.58% | 131.67% | 50.78% | 83.1% | 42.25% |
| Research & Development | 0 | 0 | 82.85K | 1.4M | 2.38M | 3.53M | 4.95M | 5.71M |
| R&D % of Revenue | - | - | 4.58% | 21.19% | 20.79% | 41.13% | 123.96% | 98.02% |
| Other Operating Expenses | 2.49M | 2.34M | 1.74M | 30.1M | 516.95K | 365.1K | 400.43K | 359.08K |
| Operating Income | -23.55M | -23.73M | -23.11M | -55.1M | -18.38M | -6.52M | -8.74M | -9.64M |
| Operating Margin % | -446.88% | -449.81% | -1278.85% | -834.01% | -160.73% | -75.89% | -218.73% | -165.52% |
| Operating Income Growth % | - | -2.65% | 58.05% | -199.78% | -181.9% | 25.38% | 9.35% | - |
| EBITDA | -21.06M | -21.38M | -21.38M | -54.37M | -17.86M | -6.15M | -8.34M | -9.28M |
| EBITDA Margin % | -399.64% | -405.36% | -1182.76% | -822.97% | -156.21% | -71.64% | -208.71% | -159.36% |
| EBITDA Growth % | 9.91% | -0.02% | 60.68% | -204.37% | -190.22% | 26.17% | 10.16% | - |
| D&A (Non-Cash Add-back) | 2.49M | 2.34M | 1.74M | 729.41K | 516.95K | 365.1K | 400.43K | 359.08K |
| EBIT | -31.33M | -32.1M | -129.8M | -41.91M | -24.55M | -6.52M | -8.74M | -9.64M |
| Net Interest Income | -8.57M | -8.73M | -5.11M | -8.78M | -3.71M | -725.17K | -66.94K | 209.32K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 209.32K |
| Interest Expense | 8.57M | 8.73M | 5.11M | 8.78M | 3.71M | 725.17K | 66.94K | 0 |
| Other Income/Expense | -18.98M | -17.1M | -111.79M | 4.41M | -9.88M | -8.61M | 1.54M | 298.65K |
| Pretax Income | -42.53M | -40.83M | -134.91M | -50.69M | -28.26M | -15.13M | -7.19M | -9.34M |
| Pretax Margin % | -807.09% | -774.01% | -7463.83% | -767.24% | -247.14% | -176.08% | -180.1% | -160.39% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -42.53M | -40.83M | -134.91M | -50.69M | -28.26M | -15.13M | -7.19M | -9.34M |
| Net Margin % | -807.09% | -774.01% | -7463.83% | -767.24% | -247.14% | -176.08% | -180.1% | -160.39% |
| Net Income Growth % | 68.02% | 69.74% | -166.16% | -79.35% | -86.81% | -110.28% | 22.97% | - |
| Net Income (Continuing) | -42.53M | -40.83M | -134.91M | -50.69M | -28.26M | -15.13M | -7.19M | -9.34M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -11.07 | -83.60 | -2644.56 | -3209.04 | -4536.00 | -58.32 | -0.13 | -28271.52 |
| EPS Growth % | 95.78% | 96.84% | 17.59% | 29.25% | -7677.78% | -44900% | 100% | - |
| EPS (Basic) | - | -83.60 | -2644.56 | -3209.04 | -4536.00 | -58.32 | -0.13 | -28279.44 |
| Diluted Shares Outstanding | 3.84M | 835.23K | 51.01K | 15.79K | 263.61K | 299.45K | 299.45K | 330 |
| Basic Shares Outstanding | 3.84M | 835.23K | 51.01K | 15.79K | 263.61K | 299.45K | 299.45K | 330 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Limited liquidity and scale
As reported in recent financial filings, Nauticus Robotics has experienced highly erratic top-line performance, with quarterly revenue fluctuating between $159.6K and $2.1M, reflecting the inherent lumpiness of project-based government and commercial contracts rather than a consistent, predictable scaling of the company's Robotics-as-a-Service business model.
The extreme volatility in quarterly revenue suggests that the company remains heavily reliant on individual, non-recurring project milestones. Investors should monitor whether the firm can transition from these sporadic hardware-centric sales to a more stable, recurring revenue stream to justify its current valuation.
Based on the company's income statement data, Nauticus Robotics continues to struggle with deeply negative gross margins, which reached a low of -115.8% in 2025Q3, indicating that the direct costs of deploying subsea robotics currently far exceed the revenue generated from these specialized service contracts.
This margin profile suggests that the company is currently subsidizing its market entry through significant operational losses. Without a clear path to cost-efficient manufacturing or higher utilization of its autonomous fleet, the current business model appears structurally challenged in its ability to achieve profitability.
According to historical income statements, Nauticus Robotics has failed to demonstrate positive operating leverage, as SG&A expenses consistently remain elevated relative to gross profit, resulting in persistent operating losses that have hovered around the $5.5M to $6.0M range for most of the last ten quarters.
The inability to scale operating income faster than gross profit implies that the company's overhead structure is currently too heavy for its nascent revenue base. This lack of efficiency suggests that management faces significant hurdles in optimizing its cost base while simultaneously attempting to scale its technical operations.
Analysis of the provided financial data reveals that net income is frequently impacted by significant non-operating volatility, including extreme quarterly swings such as the $118.6M loss in 2024Q4, which obscures the underlying operational performance and complicates the assessment of true cash-burn rates for the business.
The presence of such large, non-recurring items suggests that investors should focus on operating cash flow rather than reported net income to gauge the company's health. The reliance on stock-based compensation and potential warrant-related adjustments further complicates the picture, warranting caution regarding the quality of reported earnings.
As indicated by the company's financial trajectory, the primary risk to the investment thesis is the potential for continued cash depletion, as the firm's limited liquidity of approximately $7M appears insufficient to support ongoing operations without further dilutive financing or a rapid improvement in contract margins.
Short-sellers would likely focus on the disconnect between the company's high-growth narrative and the reality of its negative gross margins and high cash burn. The risk remains that the company may be forced into unfavorable capital raises if it cannot demonstrate a clear inflection toward self-sustaining operations.
Quick answers to the most common questions about buying KITT stock.
For fiscal year 2025, Nauticus Robotics, Inc. (KITT) reported total revenue of $5.3M. This represents a 9.4% decline compared to $5.8M in 2019.
Nauticus Robotics, Inc. (KITT) reported a net loss of $40.8M for the fiscal year ending 2025.
Nauticus Robotics, Inc. (KITT) reported an operating income of $-23.7M, resulting in an operating profit margin of -449.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Nauticus Robotics, Inc. (KITT) generated $-7.1M in gross profit for the year, representing a gross profit margin of -133.9%. This demonstrates the company's core pricing power and production efficiency.