Houston-based unmanned systems specialist Nauticus Robotics has published its financial results for the quarter ended June 30, 2026.
Nauticus reported Q2 2026 revenue of US$0.9 million, compared to US$2.1 million for the same prior-year period and US$0.2 million for the prior quarter.
The company reported adjusted net loss of US$7 million for the second quarter, compared to an adjusted net loss of US$7.46 million for the same period in 2025 and an adjusted net loss of US$6.4 million for Q1 2026.
Also for the second quarter, Nauticus recorded a net loss of US$11.1 million, or basic loss per share of US$2.30. This compares with a net loss of US$7.4 million from the same period in 2025, and a net loss of US$9.3 million in the prior quarter.
As of June 30, 2026, the company had cash, cash equivalents, and restricted cash of US$2 million, compared to US$7.6 million as of December 31, 2025.
"During the second quarter, we continued adapting our business to current market conditions while making important progress toward a more diversified and technology-driven revenue model," said John Gibson, Nauticus Robotics President and CEO. "We advanced opportunities across key sectors and successfully demonstrated our capabilities in customer operations."
While offshore oil and gas activity off the US Gulf Coast remained challenging, Nauticus continued diversifying its commercial pipeline.
The company expanded its presence in offshore wind along the US East Coast, completed work with a global subsea cable-laying company, and is pursuing additional opportunities on the US West Coast and internationally.
Nauticus is also evolving its international commercial model to pursue opportunities where the company can serve as the primary contractor and capture more of the economic benefit created by its autonomous technology.
Nauticus increased its near-term focus on defence and government markets during the quarter, where demand for autonomous systems, subsea awareness and infrastructure security align closely with the company's existing technology portfolio.
The company completed an initial scope of work intended to support the evaluation of a broader multi-phase defence opportunity. If awarded, the company anticipates the potential for associated revenue in 2026 and 2027.
Nauticus is also participating in collaborative proposal efforts involving government, commercial, defence, and academic organisations evaluating autonomous approaches to persistent subsea sensing infrastructure.
Nauticus said it is working to build a broader and more predictable revenue model by increasing pipeline coverage, expanding geographically, growing direct contracting opportunities, and adding software and technology revenue alongside its services business.
The company is increasing sales activity across International and defence markets while pursuing opportunities designed to better capture the operational efficiencies generated by its autonomous technology.
Nauticus' management expects that the commercialisation of the company's patented robotic control software, international expansion, defence and government opportunities, and continued technology validation will provide additional pathways for future bookings and backlog growth.
