Nauticus Robotics, Inc. Q1 FY2024 earnings call

• John Gibson discussed the need for a reverse split to address bid price compliance with NASDAQ, noting they aim to be daily revenue generating in Q3 2024 with Aquanaut and have blue-chip customers ready. - Jorge Machnizh reported positive developments with Aquanaut vehicle and ToolKITT, securing support from existing customers and cultivating a sales pipeline. - Vicki Hay walked through financial results, noting revenue of $500,000, operating expenses decrease, and focus on reducing G&A costs. - John Gibson announced collaboration with Florida Atlantic University to reduce testing and certification costs for new vehicles and build a pipeline of talent.

Revenue for the first quarter was $500,000, down $2.4 million from the same period last year and $600,000 from the prior quarter. Revenue included continuing government revenue and the start of commercial revenue from the Aquanaut vehicle. Operating expenses for the first quarter were $6.0 million, a $2.6 million decrease from Q1 '23 and a sequential decrease of $29.3 million. G&A costs for the first quarter were $3.4 million, a $1.8 million decrease from the same period in '23 and a $300,000 sequential reduction.

• Anticipates being daily revenue generating in Q3 2024 with Aquanaut. - Plans to request a 6-month extension to comply with bid price above $1. - Believes revenue generation will improve share price. - Confident in near-term completion of Aquanaut certification with a vessel on standby in the Gulf of Mexico.

• Risks related to bid price and market cap non-compliance with NASDAQ. - Uncertainties in how much revenue generation will improve share price. - Uneven and sporadic defense revenue due to company size and nature of defense spending.

Q: Are there any questions?

A: It appears that we have no questions at this time