|Over a week ago |
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Nauticus Robotics to join Russell Microcap Index » 08:3805/2505/25/23
Nauticus Robotics is set…
Nauticus Robotics is set to join the Russell Microcap Index at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the US market opens on June 26, according to a preliminary list of additions posted May 19. Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. "We are pleased to have earned our spot on one of the esteemed Russell indexes, widely cited as one of the most important performance benchmarks for emerging companies in the U.S.," said Nicolaus Radford, founder and CEO of Nauticus. "This is an important milestone for us as we continue to build momentum to create the most impactful ocean robotics company and serves as a validation of our performance and growth potential."
Nauticus Robotics price target lowered to $4.75 from $5.25 at Lake Street » 09:0205/1605/16/23
Lake Street lowered the…
Lake Street lowered the firm's price target on Nauticus Robotics to $4.75 from $5.25 and keeps a Buy rating on the shares after the company reported Q1 results that exceeded expectations. The firm's lower price target is due to the slower ramp of the first few Aquanaut systems, the analyst explained.
Nauticus Robotics downgraded to Neutral from Buy at Chardan » 09:0605/1205/12/23
Chardan analyst Brian…
Chardan analyst Brian Dobson downgraded Nauticus Robotics to Neutral from Buy with a $2.50 price target. A slower fleet build-out results in the company's reduced outlook, the analyst tells investors in a research note.
Nauticus Robotics, Leidos executes $2.7M contract extension » 08:4005/1105/11/23
Nauticus Robotics (KITT)…
Nauticus Robotics (KITT) announced it has been awarded an additional $2.7M under its current contract with Leidos Holdings (LDOS). The funded extension allows continued development of an Aquanaut-derivative in preparation for customer adoption decisions and government opportunities expected later this year. The state-of-the-art subsea platform, an unmanned underwater vehicle, UUV, with advanced artificial intelligence, sensing capabilities, and more can perform a growing number of jobs without hazarding human divers. This program has received $14.5 million in funding from Leidos since 2022, and the technology developed is expected to underpin major future government opportunities. "I am very proud of our team's performance resulting in this follow on award, further cementing our partnership with Leidos," said Nicolaus Radford, founder and CEO of Nauticus. "This very important work combines great attributes from each company to deploy a truly novel subsea capability."
|Over a month ago|
Nauticus Robotics successfully completes live testing with U.S. Navy » 08:3305/0205/02/23
Nauticus Robotics announced its successful completion of a live offshore demonstration with the U.S. Navy of its AI-enhanced mine countermeasure vehicle. The achievement advanced Nauticus to the next phase of the Defense Innovation Unit's Autonomous Explosive Ordinance Disposal Maritime Response Vehicle program. The AEMRV represents one of two Nauticus programs with the DIU - a Department of Defense organization that strengthens the national security by accelerating the adoption of leading commercial technology throughout the military and growing the national security innovation base. In February 2022, DIU commissioned Nauticus to transform an existing mine countermeasure platform into an untethered autonomous drone to remotely identify and neutralize subsea mines and other targets of interest and take U.S. Navy EOD divers out of harm's way in the process. Mine warfare is a global threat and can disrupt supply chains, logistics, and critical subsea infrastructure. The Company integrated its software package, toolKITT, into a subsea vehicle used in an existing program of record. The AI-enabled software allows untethered vehicle operations while adhering to open architecture principles. "Our premier software platform, toolKITT, will enable the U.S. Navy to use an enhanced, autonomous vehicle with state-of-the-art adaptive functionality. We are honored to have been given the opportunity and deliver on providing the U.S. Navy with a revolutionary underwater vehicle behaviors that optimizes both functionality and safety," said Nicolaus Radford, CEO of Nauticus. "We are committed to supporting DIU to bring autonomy to the forefront of defense problem-solving."
Nauticus passes first phase of Amphibious Autonomous Response Vehicle program » 08:4004/1904/19/23
Nauticus Robotics completed the competitive first phase of the Defense Innovation Unit Amphibious Autonomous Response Vehicle program and is advancing toward the next milestone. Within this multi-million dollar contract award, previously announced in October 2022, DIU, in partnership with Marine Corps Systems Command and the Office of the Deputy DoD CTO for Mission Capabilities, commissioned Nauticus to adapt the company's inventory of commercialized technologies and to quickly develop a new autonomous mine countermeasure robot for use in surf zones and beach areas to support the U.S. Marine Corps during amphibious operations. Nauticus' novel implementation includes a robot capable of not only swimming, but also crawling out of the surf and onto the beach. The solution utilizes the Company's autonomous command and control software platform, ToolKITT, and combines several mature technologies such as machine vision, autonomous mission planning, and acoustic data networking onto an amphibious robotic vehicle hull that can collect intelligence and identify potential hazards. ToolKITT, which also serves as the foundation of Nauticus' flagship robot Aquanaut, was specifically designed to enable autonomous actions, agonistic to the robotic platform.
Nauticus Robotics announces splashdown of next generation aquanauts » 08:3604/1304/13/23
Nauticus Robotics announced the commencement of commissioning exercises of the first of three second-generation Aquanauts, dubbed the 'Mark 2.' Following commissioning, Nauticus expects to send the initial Aquanaut MK2 units to the North Sea and the Gulf of Mexico in the coming months to support customer initiatives in those regions. The Aquanaut MK2 is a fully electric, untethered and autonomous subsea robot that is controlled through acoustic communication networking and underpinned by Nauticus' proprietary software suite, toolKITT. "The delivery of our initial second-generation Aquanauts is a significant milestone that accelerates our mission to disrupt the offshore ocean services industry while setting a benchmark for next-generation subsea technology that will fundamentally revolutionize how the industry operates," said Nicolaus Radford, founder and CEO of Nauticus. "Our autonomous ocean robots and proprietary AI software provide a compelling solution to the marine industry, validated on a recurring basis with the continued interest and robust growth of our commercial pipeline. This splashdown allows us to remain on track to deliver two additional Aquanauts by mid-year, which are already committed to fulfill customer demands, as we continue to execute on our commercial pipeline and expand the breadth of our world-class portfolio."
Nauticus Robotics price target lowered to $5.25 from $6 at Lake Street » 09:0503/2903/29/23
Lake Street analyst Troy…
Lake Street analyst Troy Jensen lowered the firm's price target on Nauticus Robotics to $5.25 from $6 and keeps a Buy rating on the shares after the company reported "mixed" Q4 results. 2022 "did not pan out as expected for Nauticus," said the firm, but it believes the market opportunity in the government vertical coupled with commercial applications in oil "have grown meaningfully and provide excellent visibility for 2023."
Nauticus Robotics reports Q4 EPS (21c), consensus (16c) » 16:2403/2803/28/23
Reports Q4 revenue…
Reports Q4 revenue $3.28M, consensus $2.47M. "Our mission is to improve the way industries operate in the ocean through the use of artificial intelligence. During 2022 and into 2023, we've seen an increase in interest in our robotics solutions from both government- and commercial-oriented customers," said Nicolaus Radford, founder and CEO of Nauticus. "Our continued progress with the DIU and Shell are testimonials of what's to come as we deploy the most advanced and capable ocean robotic systems in the world. We look forward to providing future updates as we continue to execute our plan and progress towards the launch of our commercial services this year."
|Over a quarter ago|
Nauticus begins international expansion with operating bases in Norway and UK » 08:4001/1801/18/23
Nauticus Robotics announced the initiation of its operations in Norway and the United Kingdom, beginning the Company's international expansion strategy for 2023 and beyond.The operating bases are strategically located in Stavanger, Norway and Aberdeen, Scotland to service the North Sea offshore market. The Company will deploy assets and collaborate with local partners to service the region's extensive offshore wind and oil and gas assets with its expanding Nauticus Fleet, a robotic navy of surface and subsea robots. These regional bases will provide local subject matter expertise and logistics as the Company's international operations continue to grow. Eventually, Nauticus plans to open bases around the world, strategically located in targeted growth markets and equipped with local remote operation centers and service teams.