Nauticus Robotics recently published its financial results for the quarter ended June 30, 2025.
Nauticus reported second quarter 2025 revenue of US$2.1 million, compared to US$0.5 million for the prior-year period and US$0.2 million for the prior quarter.
Total expenses during the second quarter were US$8.4 million, a US$1.9 million increase from the prior-year period and a US$2.4 million increase from Q1 2025.
Nauticus reported adjusted net loss of US$7.4 million for the second quarter, compared to an adjusted net loss of US$6.5 million for the same period in 2024 and an adjusted net loss of US$6.6 million for the prior quarter. Adjusted net loss is a non-GAAP measure that excludes the impact of certain items.
For the second quarter, Nauticus recorded a net loss of US$7.5 million, or basic loss per share of US$0.26. This compares with a net income of US$4.5 million from the same period in 2024, and a net loss of US$7.6 million in the prior quarter.
As of June 30, 2025, the company had cash and cash equivalents of US$2.7 million, compared to US$10.1 million as of March 31, 2025.
"The first half of 2025 has shown we are maintaining the momentum started last year," said John Gibson, Nauticus Robotics President and CEO. "We grew revenue significantly, completed a strategic acquisition, and repositioned the company to drive long-term, profitable growth.
"We are now entering the second half of the year with this continued momentum by growing the offshore pipeline and bringing a differentiated service offering in a market hungry for innovation."
Nauticus said the acquisition of exploration service provider SeaTrepid completed in the first quarter made an immediate impact. The assets in the SeaTrepid fleet continue to be fully utilised and are expected to remain so throughout the third quarter.
Nauticus also experienced increased customer demand as the North American offshore season ramped up. The first remotely operated vehicle (ROV) completed its project and moved back up to the US Northeast Coast to perform offshore windfarm inspections at the beginning of August, while the second ROV completed projects for nine different customers off the US Gulf Coast.
Nauticus reported that market response to its expanded service offerings continues to be positive. Oil and gas and environmental government customers are waiting for operational windows in the Gulf Coast offshore schedule, while wind energy customers working off the Northeast Coast have resumed activity on existing assets after a slow start to 2025.
Nauticus expects to benefit from a contraction of service providers focused on wind energy.