Nauticus Robotics, Inc.KITT

Nauticus Robotics, Inc. Revenue Disclosure

10-KFiled Apr 15, 20261 min read
Revenue
The following table presents the components of our revenue:
Year Ended December 31,
20252024
Cost plus fixed fee$5,274,915 $311,041 
Firm fixed-price- 1,446,376 
Firm fixed-price-vehicle lease- 50,055 
Total$5,274,915 $1,807,472 
Our performance obligations under service agreements are generally satisfied over time as the service is provided and, therefore, all revenue above has been recognized over time.
Contract Balances – Accounts receivable, net as of December 31, 2025 totaled $378,683 due from customers for contract billings and is expected to be collected within the next three to six months. At December 31, 2024 accounts receivable, net totaled $238,531. Allowances for credit losses included in accounts receivable were de minimis for as of December 31, 2025 and December 31, 2024, respectively. Bad debt expense was de minimis for the years ended December 31, 2025 and 2024.
Contract assets include unbilled amounts typically resulting from sales under contracts when the cost-to-cost method of revenue recognition is utilized, and revenue recognized exceeds the amount billed to the customer. Contract assets are recorded at the net amount expected to be billed and collected. There were no contract assets as of December 31, 2025 and December 31, 2024.
Contract liabilities include billings in excess of revenue recognized and accrual of certain contract obligations. The Company had contract liabilities at December 31, 2025 and 2024 of $0 and $346,279, respectively. Contract liabilities at December 31, 2024 relate to billings in excess of revenue recognized.

Historical Timeline

Fiscal YearFiled
2025Apr 15, 2026Showing above
2024Apr 15, 2025
2023Apr 10, 2024
2022Mar 28, 2023

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

Other Available Disclosures

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