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Nauticus Robotics (KITT)
NASDAQ:KITT
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Nauticus Robotics
(NASDAQ:KITT)
35Underperform
Nauticus Robotics (KITT) vs. S&P 500 (SPY)
Market Cap
$30.19M
Dividend YieldN/A
Average Volume (3M)3.36M
Price to Earnings (P/E)―
Beta (1Y)1.53
Revenue Growth-72.64%
EPS Growth-205.26%
CountryUS
Employees72
SectorIndustrials
Sector Strength65
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-45.62
Shares Outstanding30,185,791
10 Day Avg. Volume1,832,896
30 Day Avg. Volume3,364,666
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)3.18
Price to Cash Flow (P/CF)-0.40
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Nauticus Robotics Business Overview & Revenue Model
Company DescriptionNauticus Robotics, Inc. develops and offers ocean robotic solutions and cloud software to the ocean industry. The company offers Aquanaut, an autonomous underwater vehicle (AUV) with sensor suite, which provides capability to observe and inspect subsea assets or other subsea features; and Argonaut, a derivative product of the Aquanaut, which is used for non-industrial and government applications. It also provides Olympic Arm, an all-electric, work-class manipulator that allows perception-driven decision making for semi-autonomous tasking; ToolKITT software suite, which is a multi-layered, multi-tool, software platform that operates various ocean robotic vehicles through navigational guidance, vehicle, and manipulator control, as well as perception, planning, and execution of tasks; and Hydronaut, an optionally crewed autonomous surface vessel that supports the real-time operations of Aquanaut in long range and deep water commercial applications. The company was founded in 2014 and is based in Webster, Texas.
How the Company Makes MoneyNauticus Robotics generates revenue primarily through the sale and lease of its advanced robotic systems and related services. Key revenue streams include contracts with companies in the oil and gas industry for underwater inspection and maintenance operations. The company also earns from providing specialized solutions to the renewable energy sector, particularly in the maintenance and inspection of offshore wind farms. Additionally, Nauticus Robotics engages in strategic partnerships and collaborations with defense organizations for the provision of maritime security and surveillance technologies. Service contracts for ongoing support, maintenance, and software upgrades of their deployed systems further contribute to their earnings.
Nauticus Robotics Financial Statement Overview
Summary
Nauticus Robotics is facing substantial financial difficulties, with negative revenue growth, high leverage, and negative cash flow, indicating significant profitability and liquidity challenges.Income Statement
Nauticus Robotics has been experiencing declining revenue and profit margins. The TTM data shows a negative gross profit margin, net profit margin, and EBIT margin, indicating significant profitability issues. Revenue growth is negative over the past year, reflecting challenges in expanding sales.25
Negative
Balance Sheet
The company's balance sheet reveals high leverage with a negative equity position, as evidenced by the negative stockholders' equity and high debt levels. The debt-to-equity ratio is not calculable due to negative equity, presenting a risk of financial instability. The equity ratio is negative, highlighting a concerning capital structure.20
Very Negative
Cash Flow
Nauticus Robotics shows negative free cash flow and operating cash flow, indicating cash burn issues. The free cash flow growth rate is negative, and the operating cash flow to net income ratio is unfavorable, reflecting difficulties in generating sufficient cash from operations to cover losses.30
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 2.40M | 6.61M | 11.43M | 8.59M | 3.99M | 5.82M | Gross Profit |
| -10.33M | -5.32M | -428.90K | 1.74M | -65.55K | -1.11M | EBIT |
| -22.36M | -55.10M | -18.38M | -6.52M | -8.74M | -9.64M | EBITDA |
| -51.10M | -44.87M | -24.03M | -4.55M | -8.34M | -9.28M | Net Income Common Stockholders |
| -55.86M | -50.69M | -9.91B | -17.45M | -8.87M | -9.34M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 955.22K | 753.40K | 22.75M | 20.95M | 3.30M | 5.26M | Total Assets |
| 26.15M | 26.15M | 52.60M | 25.17M | 5.33M | 8.34M | Total Debt |
| 32.42M | 32.42M | 16.42M | 28.78M | 4.64M | 1.96M | Net Debt |
| 31.46M | 31.66M | -1.37M | 7.83M | 1.34M | -2.30M | Total Liabilities |
| 67.94M | 67.94M | 52.58M | 31.78M | 6.76M | 3.00M | Stockholders Equity |
| -41.79M | -41.79M | 27.82K | -6.61M | -1.43M | 5.35M |
| Cash Flow | Free Cash Flow | ||||
| -40.84M | -33.32M | -51.52M | -6.85M | -4.50M | -8.79M | Operating Cash Flow |
| -39.13M | -21.69M | -37.27M | -5.92M | -4.50M | -8.40M | Investing Cash Flow |
| -837.00K | -6.59M | -19.21M | -922.49K | 996.48K | 10.49M | Financing Cash Flow |
| 44.47M | 11.25M | 53.32M | 24.50M | 2.54M | 0.00 |
Nauticus Robotics Technical Analysis
Negative
1.00
Price Trends
1.37
Negative
1.45
Negative
2.06
Negative
Market Momentum
-0.09
Negative
36.58
Neutral
5.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KITT, the sentiment is Negative. The current price of 1 is below the 20-day moving average (MA) of 1.07, below the 50-day MA of 1.37, and below the 200-day MA of 2.06, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 36.58 is Neutral, neither overbought nor oversold. The STOCH value of 5.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KITT.
Nauticus Robotics Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $5.71B | 9.35 | 10.12% | 1.83% | 3.42% | -35.98% | |
73 Outperform | $1.27B | 23.55 | 3.68% | ― | 5.34% | ― | |
72 Outperform | $2.24B | 12.41 | 16.78% | ― | 33.25% | 83.81% | |
65 Neutral | $2.17B | 15.14 | 21.97% | ― | 9.75% | 50.93% | |
62 Neutral | $8.05B | 13.60 | 4.04% | 3.11% | 3.70% | -14.19% | |
57 Neutral | $247.43M | ― | -36.95% | ― | 10.50% | -493.15% | |
35 Underperform | $30.19M | ― | 153.01% | ― | -72.64% | -205.26% |
* Industrials Sector Average
Performance Comparison
KITT
Nauticus Robotics
0.92
-9.67
-91.31%
FET
Forum Energy Tech
20.11
0.55
2.81%
HLX
Helix Energy
8.31
-2.64
-24.11%
NOV
NOV
15.22
-4.11
-21.26%
OII
Oceaneering International
21.81
-1.64
-6.99%
TDW
Tidewater
42.27
-51.53
-54.94%
Nauticus Robotics Earnings Call Summary
Earnings Call Date: Nov 12, 2024 | % Change Since: -23.08% | Next Earnings Date: Apr 1, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted significant technological and operational achievements, particularly with the Aquanaut vehicle and ToolKITT software. However, these were offset by financial challenges, such as a decline in revenue and increased net loss. The company shows promise in its strategic initiatives but faces immediate financial pressures.Highlights
Successful Commercial Projects for Aquanaut
Achieved an industry first by conducting Aquanaut's first commercial projects, marking a significant milestone in both the commercial and defense sectors.
Positive Customer Feedback
Aquanaut exceeded expectations by providing high-quality data and identifying anomalies, leading to additional work and customer satisfaction.
ToolKITT Software Advancements
Progress made in functionality and commerciality of ToolKITT software with plans for a commercial release in 2025.
Debt Conversion to Strengthen Financial Position
Entered agreement to convert $27 million of debt into preferred stock, aiding compliance with NASDAQ requirements.
Cost Reduction in Operating Expenses
Operating expenses reduced by $3.9 million from Q3 '23, showing a dedicated focus on cost reduction.
Lowlights
Revenue Decline
Revenue for Q3 was $0.4 million, down $0.1 million sequentially and $1.2 million year-over-year, primarily due to a late start driven by bad weather.
Net Loss Increase
Net loss for the quarter was $11.4 million, a $6 million increase sequentially, driven by noncash fair value changes of outstanding warrants.
Seasonal Business Limitations
The business remains highly seasonal, with efforts underway to mitigate this with new capabilities and geographies.
Company Guidance
During the Nauticus Robotics 2024 Q3 earnings call, the company provided several key metrics and forward-looking guidance. The third quarter revenue was reported at $0.4 million, a decrease of $0.1 million from the previous quarter and down $1.2 million compared to Q3 of the prior year. Despite these figures, the company celebrated significant achievements, including the successful execution of Aquanaut's first commercial projects in the Gulf of Mexico. This milestone is anticipated to pave the way for increased business backlog in 2025. Operating expenses were reduced to $5.9 million, showing a $3.9 million improvement from the same period the previous year. The company also reported a net loss of $11.4 million for the quarter, a $6.3 million reduction from Q3 2023. In terms of financial strategy, Nauticus Robotics has initiated debt restructuring efforts, including converting debentures into preferred stock to comply with NASDAQ listing requirements. Looking forward, the company aims to mitigate seasonal business impacts by pursuing year-round operations and expanding into South American markets, with plans to commercialize its ToolKITT software platform in 2025.Nauticus Robotics Corporate Events
Private Placements and FinancingBusiness Operations and Strategy
Nauticus Robotics Streamlines Financial Structure with Equity Conversion
Neutral
Dec 27, 2024
Nauticus Robotics, Inc. has entered into an Exchange Agreement with institutional investors to convert outstanding debentures into Series A preferred convertible stock. The Series A Preferred Stock, which is non-voting, allows holders to convert their shares into common stock at a fixed conversion price and entitles them to a 5% annual dividend. This move is expected to streamline the company’s financial structure by addressing outstanding debts through equity conversion.
Delistings and Listing ChangesPrivate Placements and FinancingBusiness Operations and StrategyRegulatory Filings and Compliance
Nauticus Robotics Restructures Debt for NASDAQ Compliance
Positive
Nov 5, 2024
Nauticus Robotics, Inc. has entered into agreements to convert $33 million of debt into equity through a preferred stock exchange, aiming to ease its balance sheet and address NASDAQ compliance issues. This strategic move involves exchanging existing debentures for a new class of convertible preferred stock. Nauticus, a leader in autonomous subsea robotics, focuses on developing technology for ocean industries, enhancing operational efficiency and reducing environmental impact.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.