Financial flexibility remains constrained by a critical liquidity buffer, evidenced by a current ratio of 0.21 and a debt-to-equity ratio that peaked at 20.39 in 2025Q1.
| Total Current Assets | 7.59M | 9.25M | 4.32M | 9.22M | 36.96M | 23.17M | 3.69M | 6.12M |
| Cash & Short-Term Investments | 5.29M | 7.02M | 1.19M | 753.4K | 22.75M | 20.95M | 3.3M | 5.26M |
| Cash Only | 5.29M | 7.02M | 1.19M | 753.4K | 17.79M | 20.95M | 3.3M | 4.26M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 4.96M | 0 | 0 | 999.73K |
| Accounts Receivable | 0 | 378.68K | 238.53K | 907.43K | 2.2M | 1.69M | 134.62K | 603.44K |
| Days Sales Outstanding | 70 | 26.2 | 48.17 | 50.14 | 70.11 | 71.69 | 12.3 | 37.83 |
| Inventory | 0 | 0 | 880.59K | 2.2M | 6.67M | 0 | 251.42K | 0 |
| Days Inventory Outstanding | 12.74 | - | 33.03 | 67.28 | 205.11 | - | 22.6 | - |
| Other Current Assets | 2.31M | 1.86M | 626.18K | 3.47M | 306.79K | 255.04K | 252.92K | 255.41K |
| Total Non-Current Assets | 32.62M | 33.36M | 18.36M | 16.93M | 15.64M | 2M | 1.65M | 2.22M |
| Property, Plant & Equipment | 21.72M | 22.39M | 18.21M | 16.74M | 15.48M | 1.95M | 1.6M | 2.18M |
| Fixed Asset Turnover | 0.23x | 0.24x | 0.10x | 0.39x | 0.74x | 4.40x | 2.50x | 2.67x |
| Goodwill | 9.6M | 9.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 1.23M | 1.28M | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 71.29K | 91.28K | 154.32K | 187.53K | 155.49K | 47.24K | 47.24K | 47.24K |
| Total Assets | 40.21M | 42.61M | 22.69M | 26.15M | 52.6M | 25.17M | 5.33M | 8.34M |
| Asset Turnover | 0.13x | 0.12x | 0.08x | 0.25x | 0.22x | 0.34x | 0.75x | 0.70x |
| Asset Growth % | 176.34% | 87.83% | -13.25% | -50.29% | 109.01% | 371.95% | -36.09% | - |
| Total Current Liabilities | 35.35M | 35.38M | 12.3M | 17.39M | 3.88M | 16.58M | 6.04M | 1.5M |
| Accounts Payable | 1.16M | 3.13M | 5.92M | 7.04M | 324.48K | 1.4M | 60.07K | 143.36K |
| Days Payables Outstanding | 100.34 | 92.56 | 221.9 | 215.27 | 9.98 | 74.72 | 5.4 | 7.55 |
| Short-Term Debt | 23.05M | 21.51M | 0 | 0 | 0 | 13.25M | 3.48M | 460.09K |
| Deferred Revenue (Current) | 686.99K | 0 | 346.28K | 2.77M | 0 | 373.79K | 1.81M | 0 |
| Other Current Liabilities | 11.14M | 10.1M | 2.42M | 2.88M | 0 | 349.25K | 0 | 0 |
| Current Ratio | 0.21x | 0.26x | 0.35x | 0.53x | 9.53x | 1.40x | 0.61x | 4.09x |
| Quick Ratio | 0.21x | 0.26x | 0.28x | 0.40x | 7.81x | 1.40x | 0.57x | 4.09x |
| Cash Conversion Cycle | -17.59 | - | -140.71 | -97.86 | 265.24 | - | 29.5 | - |
| Total Non-Current Liabilities | 612.01K | 214.83K | 30.78M | 50.55M | 48.7M | 15.2M | 726.07K | 1.5M |
| Long-Term Debt | 87.92K | 0 | 28.94M | 31.6M | 15.92M | 14.71M | 0 | 484.84K |
| Capital Lease Obligations | 943.42K | 203.55K | 768.94K | 574.26K | 87.21K | 467.21K | 726.07K | 1.02M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 524.09K | 11.28K | 1.08M | 18.38M | 32.69M | 20.83K | 0 | 0 |
| Total Liabilities | 35.96M | 35.59M | 43.08M | 67.94M | 52.58M | 31.78M | 6.76M | 3M |
| Total Debt | 23.14M | 22.15M | 30.14M | 32.42M | 16.42M | 28.78M | 4.64M | 2.39M |
| Net Debt | 17.85M | 15.13M | 28.95M | 31.66M | -1.37M | 7.83M | 1.34M | -1.87M |
| Debt / Equity | 5.45x | 3.16x | - | - | 590.23x | - | - | 0.45x |
| Debt / EBITDA | -1.10x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.85x | - | - | - | - | - | - | - |
| Interest Coverage | -3.66x | -3.68x | -25.41x | -4.78x | -6.61x | -8.99x | -130.51x | - |
| Total Equity | 4.25M | 7.02M | -20.4M | -41.79M | 27.82K | -6.61M | -1.43M | 5.35M |
| Equity Growth % | 482.94% | 134.41% | 51.19% | -150309.75% | 100.42% | -362.75% | -126.72% | - |
| Book Value per Share | 1.11 | 8.40 | -399.86 | -2645.74 | 0.11 | -22.08 | -4.77 | 16206.10 |
| Total Shareholders' Equity | 4.25M | 7.02M | -20.4M | -41.79M | 27.82K | -6.61M | -1.43M | 5.35M |
| Common Stock | 0 | 2.88K | 976 | 5K | 4.72K | 967 | 9.5K | 9.5K |
| Retained Earnings | 0 | -323.52M | -253.7M | -118.79M | -68.11M | -39.84M | -24.72M | -17.52M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | -944.93K | -944.93K | -944.93K |
| Accumulated OCI | 0 | -42.23K | -42.23K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Insufficient liquidity and dilution
As reported in recent financial filings, Nauticus Robotics has seen its equity base fluctuate significantly, with the company reporting a negative equity position in several recent quarters, signaling a precarious financial trajectory that leaves little room for operational errors or further delays in commercializing its subsea robotics platform.
The persistent erosion of shareholder equity suggests that the company is consuming its capital base to fund ongoing R&D and operational losses. Investors should monitor whether the recent stabilization in total assets can be sustained without further dilutive equity raises that would continue to pressure the balance sheet.
Based on the company's reported figures, Nauticus Robotics maintains a debt-to-equity ratio that has reached as high as 20.39 in 2025Q1, indicating that the firm is heavily reliant on debt financing to sustain its capital-intensive operations in the absence of consistent, positive operating cash flows.
The reliance on debt in a pre-profit stage creates significant refinancing risk and interest expense burdens that further exacerbate the company's cash burn. This leverage profile appears to be a necessity-driven strategy rather than a strategic choice, which may limit the company's ability to pivot or invest in new growth initiatives.
According to recent balance sheet data, the company's current ratio has consistently hovered at or below 0.50, with cash reserves of only $5.3M as of 2026Q1, suggesting a very limited runway to cover short-term obligations without immediate access to additional external capital or improved contract performance.
The low current ratio indicates that current liabilities significantly outweigh liquid assets, leaving the company vulnerable to liquidity shocks. This tight cash position warrants further investigation into the timing of milestone payments, as any delay in project execution could lead to a severe working capital shortfall.
As indicated by the financial statements, the company's asset base is heavily concentrated in net PPE, which grew to $21.7M by 2026Q1, reflecting the high capital intensity required to build and maintain a fleet of autonomous underwater vehicles for its Robotics-as-a-Service business model.
The significant investment in hardware assets suggests that the company's ability to generate returns is tied directly to fleet utilization rates. If these assets do not achieve high utilization, the company faces the risk of asset impairment, which would further weaken an already strained balance sheet.
Quick answers to the most common questions about buying KITT stock.
As of 2025, Nauticus Robotics, Inc. (KITT) had total assets of $42.6M including $9.3M in current assets.
Nauticus Robotics, Inc. (KITT) carries total debt of $22.2M, offset by $7.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Nauticus Robotics, Inc. (KITT) has total shareholders' equity (book value) of $7.0M ($8.40 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Nauticus Robotics, Inc. (KITT) reported a current ratio of 0.26x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.