With only $2.0M cash and a $14.1M H1 operating cash burn, Nauticus faces imminent liquidity crisis. Monitor for a dilutive equity offering, debt restructuring, or going-concern warning in the next 10-Q. The stock is highly speculative and likely to remain under severe pressure without a material capital infusion or contract win.
Price Chart
Executive Summary
Nauticus Robotics reported Q2 2026 revenue of $0.9M, down 57% YoY from $2.1M, and a GAAP net loss of $11.1M ($2.30 per share), significantly wider than the $7.4M loss in the year-ago period. Cash burn continues rapidly, with cash dropping to $2.0M from $7.6M at year-end 2025, raising substantial going-concern risk for this micro-cap subsea robotics company.
Key Financial Metrics
Key Facts
- Revenue fell 57% YoY to $0.9M from $2.1M in Q2 2025.
- GAAP net loss widened to $11.1M ($2.30/share) from $7.4M ($18.50/share) in Q2 2025.
- Cash and restricted cash collapsed to $2.0M from $7.6M at Dec 31, 2025, a 74% decline in six months.
- Operating cash burn was $14.1M in H1 2026, nearly identical to $14.0M in H1 2025.
- Total current liabilities of $30.5M far exceed total current assets of $4.1M, indicating severe liquidity stress.
- Loss on extinguishment of debt was $4.6M in Q2 2026, adding to non-operating losses.
- Management highlighted ToolKITT commercialization and defense opportunities, but provided no concrete revenue guidance or backlog figures.
Financial Impact
Revenue declined $1.2M YoY (57% drop); net loss worsened by $3.7M YoY; cash burn of $14.1M in H1 2026 vs $14.0M in H1 2025; cash runway appears less than 2 months at current burn rate.
Risk Factors
- Imminent cash runway depletion — less than 2 months of cash at current burn rate.
- Going-concern risk is elevated given $30.5M current liabilities vs $4.1M current assets.
- Revenue decline of 57% YoY signals deteriorating core service business.
- Heavy reliance on dilutive financing (ATM, convertible debt) to fund operations.
- No concrete guidance or backlog provided; forward-looking statements are aspirational, not quantitative.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302850169 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 25d ago | 8-K | $1.58 $1.52 | ▼ −3.80% | ▼ −4.54% | $1.31 (−17.09%) |
Sep 29, 2026 27d ago | 8-K | $1.86 $1.91 | ▲ +2.69% | ▲ +2.89% | $1.31 (−29.57%) |
Sep 25, 2026 4w ago | 8-K | $2.32 $1.81 | ▼ −21.98% | ▼ −21.24% | $1.31 (−43.53%) |
Sep 23, 2026 4w ago | 8-K | $0.5236 $0.4915 | ▼ −6.13% | ▼ −6.05% | $1.31 (+150.19%) |
Sep 18, 2026 5w ago | 8-K | $0.6387 $0.6163 | ▲ +3.51% | ▲ +5.06% | $1.31 (−105.10%) |
Aug 12, 2026 10w ago | Press Release | $1.03 $0.9128 | ▲ +11.38% | ▲ +11.18% | $1.31 (−27.18%) |
Jul 27, 2026 13w ago | Insider Cluster | $0.7992 $0.8698 | ▼ −8.83% | ▼ −8.59% | $1.31 (−63.91%) |
Jul 21, 2026 13w ago | 8-K | $0.8496 $0.8155 | ▲ +4.01% | ▲ +3.90% | $1.31 (−54.19%) |
Jun 30, 2026 16w ago | 8-K | $1.23 $1.22 | ▼ −0.81% | ▼ −0.68% | $1.31 (+6.50%) |
US Market Status
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