2023 Q2 Form 10-Q Financial Statement
#000121390023039981 Filed on May 15, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
Revenue | $1.128M | $2.821M | $0.00 |
YoY Change | |||
Cost Of Revenue | $1.901M | $2.932M | $1.899M |
YoY Change | -25.17% | 54.4% | |
Gross Profit | -$772.5K | -$111.5K | -$1.899M |
YoY Change | -69.59% | -94.13% | |
Gross Profit Margin | -68.48% | -3.95% | |
Selling, General & Admin | $5.560M | $5.210M | $20.73K |
YoY Change | 7212.9% | 25032.66% | |
% of Gross Profit | |||
Research & Development | $482.8K | $227.0K | $1.267M |
YoY Change | -17.32% | -82.09% | |
% of Gross Profit | |||
Depreciation & Amortization | $60.00K | $273.1K | $111.3K |
YoY Change | 145.33% | ||
% of Gross Profit | |||
Operating Expenses | $482.8K | $227.0K | $479.4K |
YoY Change | -68.29% | -52.65% | |
Operating Profit | -$6.869M | -$5.824M | -$2.688M |
YoY Change | 351.17% | 116.68% | |
Interest Expense | -$1.540M | -$4.930M | $2.431M |
YoY Change | -308.38% | -302.79% | |
% of Operating Profit | |||
Other Income/Expense, Net | $27.54M | -$4.356M | -$816.0K |
YoY Change | -3401.03% | 433.78% | |
Pretax Income | $20.67M | -$14.14M | $1.952M |
YoY Change | -2738.26% | -824.51% | |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | $20.67M | -$10.18M | $1.952M |
YoY Change | -2697.72% | -621.61% | |
Net Earnings / Revenue | 1832.56% | -360.89% | |
Basic Earnings Per Share | $0.52 | -$0.26 | -$0.36 |
Diluted Earnings Per Share | $0.49 | -$0.26 | $90.51K |
COMMON SHARES | |||
Basic Shares Outstanding | 47.51M shares | 47.28M shares | 9.669M shares |
Diluted Shares Outstanding | 44.35M shares | 39.77M shares | 9.669M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $4.400M | $12.50M | $296.4K |
YoY Change | -97.48% | 4117.56% | 1085.52% |
Cash & Equivalents | $4.353M | $12.48M | $15.08M |
Short-Term Investments | $0.00 | $0.00 | |
Other Short-Term Assets | $53.61K | $54.38K | $44.99K |
YoY Change | 77.74% | 20.88% | |
Inventory | $12.54M | $11.01M | |
Prepaid Expenses | $6.121M | $5.393M | |
Receivables | $1.302M | $2.635M | |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $25.23M | $32.15M | $341.4K |
YoY Change | 12331.1% | 9317.31% | 1265.48% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $21.78M | $16.95M | |
YoY Change | 249.21% | ||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $129.4K | $140.2K | $174.2M |
YoY Change | -99.93% | -99.92% | 135850.67% |
Total Long-Term Assets | $23.30M | $17.35M | $174.2M |
YoY Change | -86.65% | -90.04% | 135850.67% |
TOTAL ASSETS | |||
Total Short-Term Assets | $25.23M | $32.15M | $341.4K |
Total Long-Term Assets | $23.30M | $17.35M | $174.2M |
Total Assets | $48.53M | $49.49M | $174.6M |
YoY Change | -72.22% | -71.65% | 113884.04% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $5.732M | $2.607M | $178.3K |
YoY Change | 1661.52% | 1362.33% | |
Accrued Expenses | $7.310M | $3.656M | $92.33K |
YoY Change | 617.39% | 3860.0% | -28.52% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $267.0K |
YoY Change | -100.0% | -100.0% | |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $13.57M | $6.611M | $561.6K |
YoY Change | 592.84% | 1077.18% | 334.78% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $17.80M | $16.83M | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $5.847M | $34.93M | $5.560M |
YoY Change | 15.65% | 528.18% | |
Total Long-Term Liabilities | $23.65M | $51.76M | $5.560M |
YoY Change | 367.71% | 830.89% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $13.57M | $6.611M | $561.6K |
Total Long-Term Liabilities | $23.65M | $51.76M | $5.560M |
Total Liabilities | $38.21M | $58.37M | $6.121M |
YoY Change | 444.71% | 853.59% | 4639.0% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$61.57M | -$78.29M | |
YoY Change | 819.08% | ||
Common Stock | $4.789K | $4.728K | |
YoY Change | 1011.14% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $10.32M | -$8.878M | -$5.757M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $48.53M | $49.49M | $174.6M |
YoY Change | -72.22% | -71.65% | 113884.04% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $20.67M | -$10.18M | $1.952M |
YoY Change | -2697.72% | -621.61% | |
Depreciation, Depletion And Amortization | $60.00K | $273.1K | $111.3K |
YoY Change | 145.33% | ||
Cash From Operating Activities | -$4.140M | -$8.833M | -$489.5K |
YoY Change | 1511.33% | 1704.46% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$4.610M | $3.470M | |
YoY Change | |||
Cash From Investing Activities | -$4.610M | $3.465M | -$1.675M |
YoY Change | -306.85% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 620.0K | $59.19K | 267.0K |
YoY Change | 365.01% | -77.83% | |
NET CHANGE | |||
Cash From Operating Activities | -4.140M | -$8.833M | -489.5K |
Cash From Investing Activities | -4.610M | $3.465M | -$1.675M |
Cash From Financing Activities | 620.0K | $59.19K | 267.0K |
Net Change In Cash | -8.130M | -$5.309M | -222.5K |
YoY Change | 6477.67% | 2285.73% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$4.140M | -$8.833M | -$489.5K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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IncreaseDecreaseInCommodityContractAssetsAndLiabilities
|
-249964 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Commodity Contract Assets And Liabilities
IncreaseDecreaseInCommodityContractAssetsAndLiabilities
|
-300616 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
328609 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
577901 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
2234510 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
436412 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Notes Payable Current
IncreaseDecreaseInNotesPayableCurrent
|
-373791 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
143729 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
64543 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-8833201 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4200250 | usd |
CY2023Q1 | us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
1493978 | usd |
CY2022Q1 | us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
1675238 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
4959263 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
3465285 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1675238 | usd |
CY2023Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
59190 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
59190 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-5308726 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-5875488 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
17787159 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
20952867 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12478433 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
15077379 | usd |
CY2023Q1 | kitt |
Loan Commitment Fee
LoanCommitmentFee
|
469850 | usd |
CY2022Q1 | kitt |
Loan Commitment Fee
LoanCommitmentFee
|
322067 | usd |
CY2023Q1 | kitt |
Shares Issued Description
SharesIssuedDescription
|
follows (i) an aggregate of 36,650,778 shares of Common Stock, par value $0.0001 (the “Common Stock” of CLAQ prior to the Closing, and the Common Stock of Nauticus following the Closing) shares were issued to holders of Nauticus Common Stock in the Business Combination (ii) the right to receive 7,499,993 additional shares of Common Stock held in escrow pursuant to the terms of the Merger Agreement and as further described below (such additional escrowed shares, the “Earnout Shares”) and (iii) the issuance of 3,100,000 shares of Common Stock for the Equity Financing (as described below). An aggregate of 47,250,771 shares of Common Stock (inclusive of the Earnout Shares) was issued after the Business Combination. | |
CY2023Q1 | kitt |
Additional Share Of Common Stock
AdditionalShareOfCommonStock
|
7499993 | shares |
CY2023Q1 | us-gaap |
Intercompany Agreements Description
IntercompanyAgreementsDescription
|
i.one-half of the Earnout Shares will be released if, within a 5-year period from Closing Date, the volume-weighted average price of our Common Stock equals or exceeds $15.00 per share over any 20 trading days within a 30-day trading period; ii.one-quarter of the Earnout Shares will be released if, within a 5-year period from Closing Date, the volume-weighted average price of our Common Stock equals or exceeds $17.50 per share over any 20 trading days within a 30-day trading period; and iii.one-quarter of the Earnout Shares will be released if, on or after December 31, 2022, within a 5-year period from Closing Date, the volume-weighted average price of our Common Stock equals or exceeds $20.00 per share over any 20 trading days within a 30-day trading period. | |
CY2023Q1 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
3100000 | shares |
CY2023Q1 | us-gaap |
Common Stock Convertible Conversion Price Decrease
CommonStockConvertibleConversionPriceDecrease
|
10 | |
CY2023Q1 | us-gaap |
Stockholders Equity Other
StockholdersEquityOther
|
31000000 | usd |
CY2023Q1 | us-gaap |
Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
|
36530320 | usd |
CY2022Q3 | us-gaap |
Investment Owned Underlying Face Amount At Market Value
InvestmentOwnedUnderlyingFaceAmountAtMarketValue
|
14947875 | usd |
CY2022Q3 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
30157 | usd |
CY2022Q3 | us-gaap |
Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
|
14796942 | usd |
CY2022Q3 | us-gaap |
Other Notes Payable Current
OtherNotesPayableCurrent
|
850333 | usd |
CY2022Q3 | us-gaap |
Temporary Equity Net Income
TemporaryEquityNetIncome
|
-669243 | usd |
CY2023Q1 | us-gaap |
Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
|
14947875 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
12582000 | usd |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Use of Estimates</i> – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include the (i) estimates of future costs to complete customer contracts recognized over time, (ii) valuation allowances for deferred income tax assets, (iii) valuation of stock-based compensation awards and (iv) the valuation of conversion options, warrants and earnouts. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> | |
CY2023Q1 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
250000 | usd |
CY2023Q1 | us-gaap |
Held To Maturity Securities
HeldToMaturitySecurities
|
4959263 | usd |
CY2023Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Reclassifications</i> – Financial statements presented for prior periods include reclassifications that were made to conform to the current-period presentation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> | |
CY2023Q1 | us-gaap |
Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
|
1302500 | usd |
CY2022Q4 | us-gaap |
Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
|
1499030 | usd |
CY2023Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
9711069 | usd |
CY2022Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
5167882 | usd |
CY2023Q1 | us-gaap |
Inventory Gross
InventoryGross
|
11013569 | usd |
CY2022Q4 | us-gaap |
Inventory Gross
InventoryGross
|
6666912 | usd |
CY2023Q1 | kitt |
Recognized Income Tax
RecognizedIncomeTax
|
0.50 | pure |
CY2023Q1 | us-gaap |
Cash Held In Foreign Currency
CashHeldInForeignCurrency
|
9884 | usd |
CY2022Q1 | us-gaap |
Cash Held In Foreign Currency
CashHeldInForeignCurrency
|
9848 | usd |
CY2023Q1 | us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
234985 | usd |
CY2022Q1 | us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
34467 | usd |
CY2023Q1 | kitt |
Total Balance Percentage
TotalBalancePercentage
|
0.02 | pure |
CY2023Q1 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.99 | pure |
CY2022Q1 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.99 | pure |
CY2022 | kitt |
Customer Percentage
CustomerPercentage
|
0.10 | pure |
CY2023Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Recent Accounting Pronouncements – </i>In September 2022, the FASB issued ASU 2022-04, Liabilities – Supplier Finance Programs (Subtopic 405-60): Disclosure of Supplier Finance Program Obligations, which requires companies to disclose the use and impact of such programs on a company’s working capital, liquidity, and cash flow. We adopted this standard on January 1, 2023. We do not utilize Supplier Finance Programs and therefore no further disclosure is required. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2016, the FASB issued ASU No. 2016-13, an amendment to ASC 326, <i>Financial Instruments - Credit Losses</i>, which changes the impairment model for certain financial assets that have a contractual right to receive cash, including trade and loan receivables. The new model requires recognition based upon an estimation of expected credit losses rather than recognition of losses when it is probable that they have been incurred. An entity will apply the amendment through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company has adopted this standard as of January 1, 2023 and there was no impact on its financial position, results of operations and cash flows upon adoption.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2022, the FASB issued ASU No. 2022-02, an amendment to ASC 326, <i>Financial Instruments-Credit Losses</i>, which eliminates the accounting guidance for creditors in troubled debt restructuring. It also aligns conflicting disclosure requirement guidance in ASC 326 by requiring disclosure of current-period gross write-offs by year of origination. The amendment also adds new disclosures for creditors with loan refinancing and restructuring for borrowers experiencing financial difficulty. The Company has adopted this standard as of January 1, 2023 and there was no impact on its financial position, results of operations and cash flows upon adoption.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There are no other new accounting pronouncements that are expected to have a material impact on our condensed consolidated financial statements.</p> | |
CY2023Q1 | us-gaap |
Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
|
2820780 | usd |
CY2022Q1 | us-gaap |
Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
|
2235965 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Purchase
AccountsReceivablePurchase
|
2634644 | usd |
us-gaap |
Accounts Receivable Purchase
AccountsReceivablePurchase
|
2634644 | usd | |
CY2022 | us-gaap |
Accounts Receivable Purchase
AccountsReceivablePurchase
|
1622434 | usd |
CY2023Q1 | us-gaap |
Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
|
9963 | usd |
CY2022Q4 | us-gaap |
Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
|
9963 | usd |
CY2023Q1 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
0 | usd |
CY2022Q1 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
0 | usd |
CY2023Q1 | us-gaap |
Contract With Customer Asset Sale
ContractWithCustomerAssetSale
|
249944 | usd |
CY2023Q1 | kitt |
Revenue Recognize
RevenueRecognize
|
8200000 | usd |
CY2023Q1 | kitt |
Contract Receivable Retainages Due One To Two Years
ContractReceivableRetainagesDueOneToTwoYears
|
8.2 | usd |
CY2023Q1 | kitt |
Contract Receivable Retainages Due Two To Three Years
ContractReceivableRetainagesDueTwoToThreeYears
|
1.2 | usd |
CY2023Q1 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
7 | usd |
CY2022Q4 | us-gaap |
Accrued Insurance Current
AccruedInsuranceCurrent
|
590936 | usd |
CY2023Q1 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
1294305 | usd |
CY2022Q4 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
171660 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
75702 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
84624 | usd |
CY2023Q1 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
3268126 | usd |
CY2022Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
2454298 | usd |
CY2023Q1 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
1760203 | usd |
CY2022Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
2392978 | usd |
CY2023Q1 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
364198 | usd |
CY2022Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
199323 | usd |
CY2023Q1 | us-gaap |
Other Assets
OtherAssets
|
5392527 | usd |
CY2022Q4 | us-gaap |
Other Assets
OtherAssets
|
5046599 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2276524 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2003341 | usd |
CY2023Q1 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
14981373 | usd |
CY2022Q4 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
12974361 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
|
16950015 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
|
15167367 | usd |
CY2023Q1 | us-gaap |
Compensated Absences Liability
CompensatedAbsencesLiability
|
532973 | usd |
CY2022Q4 | us-gaap |
Compensated Absences Liability
CompensatedAbsencesLiability
|
1501736 | usd |
CY2023Q1 | us-gaap |
Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
|
1390130 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
|
794021 | usd |
CY2023Q1 | us-gaap |
Accrued Insurance Current
AccruedInsuranceCurrent
|
363158 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
3656268 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
3142977 | usd |
CY2023Q2 | us-gaap |
Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
|
1200000 | usd |
CY2023Q1 | kitt |
Convertible Secured Debentures
ConvertibleSecuredDebentures
|
36530320 | usd |
CY2022 | kitt |
Convertible Secured Debentures
ConvertibleSecuredDebentures
|
36530320 | usd |
CY2023Q1 | us-gaap |
Convertible Notes Payable
ConvertibleNotesPayable
|
36530320 | usd |
CY2022Q4 | us-gaap |
Convertible Notes Payable
ConvertibleNotesPayable
|
36530320 | usd |
CY2023Q1 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
-19700337 | usd |
CY2022Q4 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
-20608202 | usd |
CY2023Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
16829983 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
15922118 | usd |
CY2023Q1 | us-gaap |
Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
|
36530320 | usd |
CY2023Q1 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
2922425 | shares |
CY2023Q1 | kitt |
Inclusive Proceeds
InclusiveProceeds
|
35800000 | usd |
CY2023Q1 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.02 | pure |
CY2023Q1 | kitt |
Fair Value Debenture Warrants
FairValueDebentureWarrants
|
20949110 | usd |
CY2023Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
21679716 | usd |
CY2023Q1 | kitt |
The Debentures Converted Description
TheDebenturesConvertedDescription
|
The Debentures may be converted at each holder’s option at 120% of the principal amount at a conversion price of $15.00 or 2,922,425 shares of Common Stock. The conversion price may be adjusted downward for certain events including the issuance by the Company of dilutive instruments below the current conversion price. Interest accrues on the outstanding principal amount of the Debentures at 5% per annum, payable quarterly. | |
CY2023Q1 | kitt |
Exercisable Initially Par Share
ExercisableInitiallyParShare
|
20 | |
CY2023Q1 | us-gaap |
Interest Income Debt Securities Trading Operating
InterestIncomeDebtSecuritiesTradingOperating
|
907865 | usd |
CY2023Q1 | us-gaap |
Debt Instrument Interest Rate Basis For Effective Rate
DebtInstrumentInterestRateBasisForEffectiveRate
|
25.2% | |
CY2023Q1 | kitt |
Matures Date
MaturesDate
|
2024-04-30 | |
CY2023Q1 | kitt |
Discount Interest Rate
DiscountInterestRate
|
0.08 | pure |
CY2023Q1 | us-gaap |
Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
|
0.08 | pure |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
46194 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
56634 | usd |
CY2023Q1 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
90544 | usd |
CY2022Q1 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
90248 | usd |
CY2023Q1 | kitt |
Right Of Use Asset Lease Liability Percentage
RightOfUseAssetLeaseLiabilityPercentage
|
0.0775 | pure |
CY2023Q1 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.08 | pure |
CY2023Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
102969 | usd |
CY2022Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
69191 | usd |
CY2023Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
8935 | usd |
CY2022Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
44508 | usd |
CY2023Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
111904 | usd |
CY2022Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
113699 | usd |
CY2023Q1 | us-gaap |
Treasury Stock Common Shares
TreasuryStockCommonShares
|
7499993 | shares |
CY2023Q1 | kitt |
Private Warrants Shares
PrivateWarrantsShares
|
8625000 | shares |
CY2023Q1 | us-gaap |
Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
|
0.01 | |
CY2023Q1 | kitt |
Common Stock Exceeds Price
CommonStockExceedsPrice
|
16.5 | |
CY2023Q1 | us-gaap |
Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
|
11.5 | |
CY2023Q1 | us-gaap |
Other Liabilities
OtherLiabilities
|
1653223 | usd |
CY2023Q1 | kitt |
Private Warrants Description
PrivateWarrantsDescription
|
The fair value of the Private Warrants was estimated using a Black-Scholes option pricing model using the following assumptions: stock price of $2.98, no assumed dividends, a risk-free rate of 3.66% and implied volatility of 44.6%. The change in value of the Private Warrants during the three months ended March 31, 2023 totaled $(281,362) and was reported with other (income) expense in our condensed consolidated statements of operations. | |
CY2023Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
2837513 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Other Shares
StockholdersEquityOtherShares
|
7950951 | shares |
CY2023Q1 | kitt |
Business Combination Shares
BusinessCombinationShares
|
279464 | shares |
CY2023Q1 | us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
3970266 | shares |
CY2023Q1 | kitt |
Continuous Service Percentage
ContinuousServicePercentage
|
0.25 | pure |
CY2023Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
1282580 | usd |
CY2023Q1 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P2Y5M1D | |
CY2023Q1 | us-gaap |
Debt Instrument Convertible Conversion Ratio1
DebtInstrumentConvertibleConversionRatio1
|
14.2069 | pure |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P5Y10M9D | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
54687 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
0 | usd |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Nonvested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueNonvested
|
3837080 | usd |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Nonvested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueNonvested
|
2607385 | usd |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
2778152 | usd |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
1735720 | usd |
CY2023Q1 | us-gaap |
Share Based Goods And Nonemployee Services Transaction Tax Benefit
ShareBasedGoodsAndNonemployeeServicesTransactionTaxBenefit
|
11859 | usd |
CY2022Q1 | us-gaap |
Share Based Goods And Nonemployee Services Transaction Tax Benefit
ShareBasedGoodsAndNonemployeeServicesTransactionTaxBenefit
|
0 | usd |
CY2023Q1 | kitt |
Vested Percentage
VestedPercentage
|
0.50 | pure |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
3134677 | shares |
CY2022Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
4.73 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
48274 | shares |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
3.48 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
13682 | shares |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
|
4.73 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
3169269 | shares |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
4.71 | |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
|
9428576 | usd |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P1Y3M25D | |
CY2023Q1 | kitt |
Employees Gross Salaries Percentage
EmployeesGrossSalariesPercentage
|
0.03 | pure |
CY2023Q1 | us-gaap |
Prescription Drug Benefit Effect Of Subsidy On Net Periodic Postretirement Benefit Cost1
PrescriptionDrugBenefitEffectOfSubsidyOnNetPeriodicPostretirementBenefitCost1
|
117342 | usd |
CY2022Q1 | us-gaap |
Prescription Drug Benefit Effect Of Subsidy On Net Periodic Postretirement Benefit Cost1
PrescriptionDrugBenefitEffectOfSubsidyOnNetPeriodicPostretirementBenefitCost1
|
78190 | usd |
CY2023Q1 | kitt |
Debentures Shares
DebenturesShares
|
2922425 | shares |
CY2023Q1 | kitt |
Total Shares
TotalShares
|
35786241 | shares |
CY2022Q1 | kitt |
Total Shares
TotalShares
|
9305263 | shares |
CY2023Q1 | kitt |
Investment And Securities Description
InvestmentAndSecuritiesDescription
|
(i) $2,500,000 from related party Material Impact Fund II, L.P. as their contribution to the PIPE Investment, (ii) $7,500,000 from related party Schlumberger Technology Corporation as their contribution to the PIPE Investment, (iii) $7,500,000 from related party Transocean Ltd. as their contribution to the PIPE Investment, and (iv) $5,102,000 from related party Material Impact Fund II, L.P. pursuant to the Securities Purchase Agreement. Material Impact Fund II, L.P. currently holds $5,102,000 of the outstanding Debentures bearing 5% interest, payable quarterly, maturing September 9, 2026, as well as holding outstanding Common Stock of the Company. | |
CY2023Q1 | us-gaap |
Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
|
65192 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
|
-10180020 | usd |
CY2022Q1 | us-gaap |
Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
|
-3504002 | usd |
CY2023Q1 | us-gaap |
Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
|
-10180020 | usd |
CY2022Q1 | us-gaap |
Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
|
-3504002 | usd |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
39765361 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
9669217 | shares |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.26 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.36 | |
CY2023Q1 | kitt |
Stock Options
StockOptions
|
3472129 | shares |
CY2022Q1 | kitt |
Stock Options
StockOptions
|
4005717 | shares |
CY2023Q1 | kitt |
Restricted And Performance Stock Units
RestrictedAndPerformanceStockUnits
|
3169269 | shares |
CY2023Q1 | kitt |
Warrants
Warrants
|
18722425 | shares |
CY2023Q1 | kitt |
Earnout Sharesin Shares
EarnoutSharesinShares
|
7499993 | shares |
CY2022Q1 | us-gaap |
Preferred Stock Convertible Shares Issuable
PreferredStockConvertibleSharesIssuable
|
5299546 | shares |
CY2023Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
Nauticus Robotics, Inc. | |
CY2023Q1 | dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
TX | |
CY2022Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.26 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.36 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
39765361 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
9669217 | shares |
CY2022Q1 | us-gaap |
Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
|
usd | |
CY2023Q1 | us-gaap |
Increase Decrease In Notes Payable Current
IncreaseDecreaseInNotesPayableCurrent
|
usd | |
CY2022Q1 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
usd | |
CY2023Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2022Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2023Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
usd | |
CY2022Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
usd | |
CY2023Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
usd | |
CY2022Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
usd | |
CY2023Q1 | us-gaap |
Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
|
P2085Y | |
CY2023Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
39765361 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
9669217 | shares |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.26 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.36 | |
CY2022Q1 | kitt |
Restricted And Performance Stock Units
RestrictedAndPerformanceStockUnits
|
shares | |
CY2022Q1 | kitt |
Warrants
Warrants
|
shares | |
CY2022Q1 | kitt |
Earnout Sharesin Shares
EarnoutSharesinShares
|
shares | |
CY2023Q1 | us-gaap |
Preferred Stock Convertible Shares Issuable
PreferredStockConvertibleSharesIssuable
|
shares | |
CY2022Q1 | kitt |
Debentures Shares
DebenturesShares
|
shares | |
CY2023Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2023Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2023Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001849820 |