2024 Q3 Form 10-Q Financial Statement

#000184982024000209 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $370.2K $501.7K
YoY Change -76.77% -55.53%
Cost Of Revenue $2.648M $2.875M
YoY Change -0.13% 51.29%
Gross Profit -$2.278M -$2.374M
YoY Change 115.39% 207.28%
Gross Profit Margin -615.32% -473.12%
Selling, General & Admin $2.846M $3.227M
YoY Change -57.55% -41.96%
% of Gross Profit
Research & Development $0.00 $0.00
YoY Change -100.0% -100.0%
% of Gross Profit
Depreciation & Amortization $446.1K $411.6K
YoY Change 184.04% 585.97%
% of Gross Profit
Operating Expenses $0.00 $0.00
YoY Change -100.0% -100.0%
Operating Profit -$5.570M -$6.013M
YoY Change -32.06% -12.47%
Interest Expense -$4.124M -$3.674M
YoY Change 330.72% 138.55%
% of Operating Profit
Other Income/Expense, Net -$5.787M $639.2K
YoY Change -38.96% -97.68%
Pretax Income -$11.36M -$5.373M
YoY Change -35.76% -126.0%
Income Tax
% Of Pretax Income
Net Earnings -$11.36M -$5.373M
YoY Change -35.76% -125.99%
Net Earnings / Revenue -3067.9% -1071.01%
Basic Earnings Per Share -$4.24 -$2.75
Diluted Earnings Per Share -$4.24 -$2.75
COMMON SHARES
Basic Shares Outstanding 4.650M shares 62.09M shares
Diluted Shares Outstanding 2.676M shares 1.951M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.916M $8.123M
YoY Change -56.94% 84.61%
Cash & Equivalents $2.916M $8.123M
Short-Term Investments
Other Short-Term Assets $338.5K $490.4K
YoY Change -42.08% 814.88%
Inventory $2.230M $2.218M
Prepaid Expenses $1.106M $1.283M
Receivables $397.7K $176.5K
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.316M $13.11M
YoY Change -73.75% -48.02%
LONG-TERM ASSETS
Property, Plant & Equipment $16.16M $16.50M
YoY Change -38.5% -24.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $229.3K $204.3K
YoY Change 118.68% 57.92%
Total Long-Term Assets $17.67M $18.09M
YoY Change -37.93% -22.37%
TOTAL ASSETS
Total Short-Term Assets $7.316M $13.11M
Total Long-Term Assets $17.67M $18.09M
Total Assets $24.99M $31.20M
YoY Change -55.65% -35.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.734M $5.594M
YoY Change -17.13% -2.4%
Accrued Expenses $7.270M $5.213M
YoY Change 12.28% -28.69%
Deferred Revenue $697.8K $457.9K
YoY Change 359.09%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.14M $11.69M
YoY Change 1.39% -13.86%
LONG-TERM LIABILITIES
Long-Term Debt $46.15M $46.64M
YoY Change 54.21% 162.04%
Other Long-Term Liabilities $895.1K $2.228M
YoY Change -93.83% -61.89%
Total Long-Term Liabilities $895.1K $48.87M
YoY Change -97.99% 106.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.14M $11.69M
Total Long-Term Liabilities $895.1K $48.87M
Total Liabilities $61.49M $60.56M
YoY Change 4.2% 58.51%
SHAREHOLDERS EQUITY
Retained Earnings -$135.1M -$123.8M
YoY Change 70.49% 100.99%
Common Stock $563.00 $413.00
YoY Change -88.71% -91.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$36.51M -$29.36M
YoY Change
Total Liabilities & Shareholders Equity $24.99M $31.20M
YoY Change -55.65% -35.71%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$11.36M -$5.373M
YoY Change -35.76% -125.99%
Depreciation, Depletion And Amortization $446.1K $411.6K
YoY Change 184.04% 585.97%
Cash From Operating Activities -$5.077M -$8.391M
YoY Change 46.49% 102.68%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$103.0K $6.100K
YoY Change -97.78% -100.13%
Cash From Investing Activities -$103.0K $6.100K
YoY Change -97.78% -100.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 10.32M
YoY Change -100.0% 1564.59%
NET CHANGE
Cash From Operating Activities -5.077M -8.391M
Cash From Investing Activities -103.0K 6.100K
Cash From Financing Activities 0.000 10.32M
Net Change In Cash -5.180M 1.936M
YoY Change -314.56% -123.81%
FREE CASH FLOW
Cash From Operating Activities -$5.077M -$8.391M
Capital Expenditures
Free Cash Flow
YoY Change

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Description of the Business<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Nauticus Robotics, Inc. (the “Company”, “our”, "us" or “we”) develops autonomous robots for the ocean industries. The Company’s principal corporate offices are located in Webster, Texas. Nauticus’ robotic systems and services are designed to address both commercial and government-facing customers. Autonomy requires the extensive use of sensors, artificial intelligence, and effective algorithms for perception and decision allowing the robot to adapt to changing environments. The Company’s business model includes using robotic systems for service, selling vehicles and components, and licensing of related software to both the commercial and government defense business sectors. Nauticus has designed and is currently testing and certifying a new generation of vehicles to reduce operational cost and gather data to maintain and operate a wide variety of subsea infrastructure. Besides a standalone service offering, Nauticus’ approach to ocean robotics has also resulted in the development of a range of technology products for retrofit/upgrading legacy systems and other third-party vehicle platforms. Nauticus’ services provide customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure.</span></div><div style="margin-top:12pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – The Company continues to develop its principal products and conduct research and development activities. Currently, the Company does not generate sufficient revenue to cover operating expenses, working capital and capital expenditures. The Company has embarked on cost-cutting measures to continue to preserve cash. </span><span style="background-color:#ffffff;color:#242424;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company may require additional liquidity to continue its operations over the next twelve months, which a current investor has committed to provide. The Company believes with this investor support that there will be sufficient resources to continue as a going concern for at least one year from the date that the condensed consolidated financial statements contained in this Form 10-Q are issued.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
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.
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150000 usd
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5000000 usd
us-gaap Gain Loss On Investments
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40737 usd
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CY2023Q4 us-gaap Inventory Gross
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-4296 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-9443 usd
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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17709 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
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27593 usd
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2022Q3 kitt Derivative Instrument Contingent Consideration Liability Earnout Period
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us-gaap Interest Costs Capitalized
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kitt Interest Costs Capitalized Inventory
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kitt Inventory Costs Capitalized Property Plant And Equipment
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316546 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Financial statements presented for prior periods include reclassifications that were made to conform to the current year presentation. There was no material impact to the condensed consolidated financial statements for these changes.
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us-gaap Interest Costs Capitalized
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us-gaap Interest Costs Capitalized
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kitt Inventory Costs Capitalized Property Plant And Equipment
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316546 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Financial statements presented for prior periods include reclassifications that were made to conform to the current year presentation. There was no material impact to the condensed consolidated financial statements for these changes.
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us-gaap Provision For Doubtful Accounts
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2948971 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2948971 usd
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2035034 usd
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16500849 usd
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375000 usd
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275966 usd
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370834 usd
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325000 usd
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250000 usd
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InterestPayableCurrent
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23338 usd
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162697 usd
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5212935 usd
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AssetHeldForSaleNotPartOfDisposalGroupLiabilityCurrent
1158609 usd
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OperatingLeaseLiabilityAccruedTerminationCostsCurrent
657000 usd
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P8M
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2035034 usd
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16500849 usd
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2121612 usd
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LiabilityHeldForSaleNotPartOfDisposalGroupCurrent
0 usd
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LiabilityHeldForSaleNotPartOfDisposalGroupCurrent
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657000 usd
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1158609 usd
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OperatingLeaseLiabilityAccruedTerminationCostsCurrent
657000 usd
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16593357 usd
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2922425 shares
CY2022Q3 kitt Inclusive Proceeds
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125000 usd
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0.125
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125000 usd
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0.08
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657000 usd
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CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
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0.15
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0.15
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31597649 usd
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CY2022Q3 kitt Inclusive Proceeds
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35800000 usd
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20949110 usd
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21679716 usd
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us-gaap Interest Income Debt Securities Trading Operating
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125000 usd
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0.125
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LesseeOperatingLeaseTermOfContract
P3Y
CY2024Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.08
CY2024Q1 kitt Operating Lease Liability Accrued Termination Costs Current
OperatingLeaseLiabilityAccruedTerminationCostsCurrent
657000 usd
CY2023Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.15
CY2023Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2023Q3 kitt Lessee Operating Lease Number Of Renewal Options
LesseeOperatingLeaseNumberOfRenewalOptions
2 option
CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.15
CY2024Q2 kitt Fixed Lease Cost
FixedLeaseCost
122798 usd
CY2023Q2 kitt Fixed Lease Cost
FixedLeaseCost
104528 usd
kitt Fixed Lease Cost
FixedLeaseCost
259443 usd
kitt Fixed Lease Cost
FixedLeaseCost
207497 usd
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
89910 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
96335 usd
us-gaap Variable Lease Cost
VariableLeaseCost
214271 usd
us-gaap Variable Lease Cost
VariableLeaseCost
105270 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
212707 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
200863 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
473713 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
312767 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6915 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
27428 usd
CY2024Q2 kitt Fixed Lease Cost
FixedLeaseCost
122798 usd
CY2023Q2 kitt Fixed Lease Cost
FixedLeaseCost
104528 usd
kitt Fixed Lease Cost
FixedLeaseCost
259443 usd
kitt Fixed Lease Cost
FixedLeaseCost
207497 usd
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
89910 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
96335 usd
us-gaap Variable Lease Cost
VariableLeaseCost
214271 usd
us-gaap Variable Lease Cost
VariableLeaseCost
105270 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
212707 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
200863 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
473713 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
312767 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6915 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
27428 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
219621 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
200863 usd
us-gaap Lease Cost
LeaseCost
501141 usd
us-gaap Lease Cost
LeaseCost
312767 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
204987 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1380434 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
834972 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
420910 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
244774 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1035713 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
574260 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1456623 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
819034 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.126
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.143
us-gaap Short Term Lease Cost
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0 usd
CY2024Q2 us-gaap Lease Cost
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219621 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
200863 usd
us-gaap Lease Cost
LeaseCost
501141 usd
us-gaap Lease Cost
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312767 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
245558 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
204987 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1380434 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
834972 usd
CY2024Q2 us-gaap Operating Lease Liability Current
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420910 usd
CY2023Q4 us-gaap Operating Lease Liability Current
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244774 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1035713 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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574260 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1456623 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
819034 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P3Y7M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.126
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.143
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
268323 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
584155 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
509975 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
284946 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
35231 usd
CY2024Q2 kitt Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1682630 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
226007 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1456623 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
268323 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
584155 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
509975 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
284946 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
35231 usd
CY2024Q2 kitt Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1682630 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
226007 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1456623 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4131426 shares
CY2023Q4 kitt Sale Of Stock Maximum Amount Of Shares Authorized To Be Sold
SaleOfStockMaximumAmountOfSharesAuthorizedToBeSold
5000 usd
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.0001
CY2023Q4 us-gaap Sale Of Stock Price Per Share
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2
CY2023Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
2
CY2022Q3 kitt Additional Share Of Common Stock
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7499993 shares
CY2022Q3 kitt Private Warrants Shares
PrivateWarrantsShares
8624991 shares
CY2022Q3 kitt Class Of Warrants Or Right Public Warrants Shares
ClassOfWarrantsOrRightPublicWarrantsShares
36 shares
CY2022Q3 kitt Class Of Warrant Or Right Registration Statement Required Effective Period Within Consummation Of Business Combination
ClassOfWarrantOrRightRegistrationStatementRequiredEffectivePeriodWithinConsummationOfBusinessCombination
P120D
kitt Derivative Instrument Contingent Consideration Liability Earnout Period Minimum Prior Written Notice Required Of Redemption
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriodMinimumPriorWrittenNoticeRequiredOfRedemption
30 day
kitt Derivative Instrument Contingent Consideration Liability Earnout Period Threshold Trading Days
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriodThresholdTradingDays
20 tradingday
kitt Derivative Instrument Contingent Consideration Liability Earnout Period Threshold Trading Day Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriodThresholdTradingDayPeriod
30 tradingday
kitt Derivative Instrument Contingent Consideration Liability Earnout Period Threshold Trading Day Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriodThresholdTradingDayPeriod
30 tradingday
CY2022Q3 kitt Class Of Warrants Or Right Private Warrants Shares
ClassOfWarrantsOrRightPrivateWarrantsShares
36 shares
CY2022Q3 us-gaap Stock Option Exercise Price Increase
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11.50
CY2024Q2 us-gaap Other Liabilities
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224862 usd
CY2023Q4 us-gaap Other Liabilities
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380531 usd
CY2024Q2 kitt Warrants And Rights Outstanding Remaining Term
WarrantsAndRightsOutstandingRemainingTerm
P3Y2M8D
kitt Class Of Warrant Or Right Registration Statement Period Required Before Closing
ClassOfWarrantOrRightRegistrationStatementPeriodRequiredBeforeClosing
P15D
CY2023Q2 us-gaap Sale Of Stock Price Per Share
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2.286
CY2023Q3 us-gaap Interest Expense
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4320690 usd
CY2023Q3 us-gaap Shares Issued Price Per Share
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1.95
CY2023Q3 kitt Agreed Price Per Share
AgreedPricePerShare
2.286
CY2023Q2 kitt Warrant Exercisable Share
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2922425 shares
CY2023Q2 kitt Aggregate Shares
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2922425 shares
CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
165713 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4131426 shares
CY2023Q4 kitt Sale Of Stock Maximum Amount Of Shares Authorized To Be Sold
SaleOfStockMaximumAmountOfSharesAuthorizedToBeSold
5000 usd
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.0001
CY2023Q4 us-gaap Sale Of Stock Price Per Share
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2
CY2023Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
2
CY2022Q3 kitt Additional Share Of Common Stock
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7499993 shares
CY2022Q3 kitt Private Warrants Shares
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8624991 shares
CY2022Q3 kitt Class Of Warrants Or Right Public Warrants Shares
ClassOfWarrantsOrRightPublicWarrantsShares
36 shares
CY2022Q3 kitt Class Of Warrant Or Right Registration Statement Required Effective Period Within Consummation Of Business Combination
ClassOfWarrantOrRightRegistrationStatementRequiredEffectivePeriodWithinConsummationOfBusinessCombination
P120D
kitt Derivative Instrument Contingent Consideration Liability Earnout Period Minimum Prior Written Notice Required Of Redemption
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriodMinimumPriorWrittenNoticeRequiredOfRedemption
30 day
kitt Derivative Instrument Contingent Consideration Liability Earnout Period Threshold Trading Days
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriodThresholdTradingDays
20 tradingday
kitt Derivative Instrument Contingent Consideration Liability Earnout Period Threshold Trading Day Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriodThresholdTradingDayPeriod
30 tradingday
kitt Derivative Instrument Contingent Consideration Liability Earnout Period Threshold Trading Day Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriodThresholdTradingDayPeriod
30 tradingday
CY2022Q3 kitt Class Of Warrants Or Right Private Warrants Shares
ClassOfWarrantsOrRightPrivateWarrantsShares
36 shares
CY2022Q3 us-gaap Stock Option Exercise Price Increase
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11.50
CY2024Q2 us-gaap Other Liabilities
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224862 usd
CY2023Q4 us-gaap Other Liabilities
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380531 usd
CY2024Q2 kitt Warrants And Rights Outstanding Remaining Term
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P3Y2M8D
kitt Class Of Warrant Or Right Registration Statement Period Required Before Closing
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P15D
CY2023Q2 us-gaap Sale Of Stock Price Per Share
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2.286
CY2023Q3 us-gaap Interest Expense
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4320690 usd
CY2023Q3 us-gaap Shares Issued Price Per Share
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1.95
CY2023Q3 kitt Agreed Price Per Share
AgreedPricePerShare
2.286
CY2023Q2 kitt Warrant Exercisable Share
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2922425 shares
CY2023Q2 kitt Aggregate Shares
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2922425 shares
CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
165713 shares
CY2023Q2 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
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165713 shares
CY2023Q2 us-gaap Proceeds From Warrant Exercises
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338055 usd
CY2023Q3 kitt Convertible Loan Agreement Price Per Share
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6.00
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
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809310 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1339965 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1862164 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3077027 usd
CY2024Q2 us-gaap Defined Contribution Plan Cost Recognized
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48261 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
103265 usd
CY2023Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
42165 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
159506 usd
kitt Stock Issued During Period Shares Exercise Of Warrant
StockIssuedDuringPeriodSharesExerciseOfWarrant
22161186 shares
CY2024Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Net Income Loss
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20673440 usd
us-gaap Net Income Loss
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us-gaap Net Income Loss
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6534775 usd
CY2023Q2 us-gaap Interest On Convertible Debt Net Of Tax
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1129509 usd
CY2023Q2 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
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165713 shares
CY2023Q2 us-gaap Proceeds From Warrant Exercises
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338055 usd
CY2023Q3 kitt Convertible Loan Agreement Price Per Share
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6.00
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
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809310 usd
us-gaap Allocated Share Based Compensation Expense
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1339965 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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1862164 usd
us-gaap Allocated Share Based Compensation Expense
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3077027 usd
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
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0.03
CY2024Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
48261 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
103265 usd
CY2023Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
42165 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
159506 usd
kitt Stock Issued During Period Shares Exercise Of Warrant
StockIssuedDuringPeriodSharesExerciseOfWarrant
22161186 shares
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-5373320 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
20673440 usd
us-gaap Net Income Loss
NetIncomeLoss
-4959708 usd
us-gaap Net Income Loss
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6534775 usd
CY2023Q2 us-gaap Interest On Convertible Debt Net Of Tax
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1129509 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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-5373320 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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21802949 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
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-4959708 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
6534775 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1950563 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1110091 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1667187 shares
CY2024Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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0 usd
CY2023Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
10561 usd
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
0 usd
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
5281 usd
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
29984 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
14992 shares
CY2023Q2 us-gaap Amount Of Dilutive Securities Esop Convertible Preferred Stock
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81178 usd
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1950563 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1231814 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1667187 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1127853 shares
CY2024Q2 us-gaap Earnings Per Share Basic
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-2.75
CY2023Q2 us-gaap Earnings Per Share Basic
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18.62
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-2.97
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5.90
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-2.75
CY2023Q2 us-gaap Earnings Per Share Diluted
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17.70
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.97
us-gaap Earnings Per Share Diluted
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5.79
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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21802949 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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6534775 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1950563 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1110091 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1667187 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1107580 shares
CY2024Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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0 usd
CY2023Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
10561 usd
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
0 usd
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
5281 usd
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
29984 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
14992 shares
CY2023Q2 us-gaap Amount Of Dilutive Securities Esop Convertible Preferred Stock
AmountOfDilutiveSecuritiesESOPConvertiblePreferredStock
81178 usd
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1950563 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1231814 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1667187 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1127853 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.75
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
18.62
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.97
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.90
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.75
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
17.70
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.97
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.79
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4259800 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
790744 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4259800 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
871922 shares
kitt Warrant Liability
WarrantLiability
1192693 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
18376180 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
4451163 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-12732324 usd
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1192693 usd
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4259800 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
790744 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4259800 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
871922 shares
kitt Warrant Liability
WarrantLiability
1192693 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
18376180 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
4451163 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-12732324 usd
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1192693 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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