Nauticus Robotics, Inc. (NASDAQ:KITT) Q1 2024 Earnings Call Transcript May 14, 2024 10:00 AM ET

Company Participants

Kristin Moorman - Special Projects Leader
John Gibson - President and Chief Executive Officer
Jorge Machnizh - Sales and Business Development Leader
Victoria Hay - Interim Chief Financial Officer

Conference Call Participants

Operator

Good day, everyone, and welcome to today's Nauticus Robotics 2024 Q1 Earnings Call. At this time, all participants are in a listen-only mode. Later you will have the opportunity to ask questions during the question-and-answer session. [Operator Instructions] Please note this call is being recorded and I will be standing by if you should need any assistance.

It is now my pleasure to turn the conference over to Kristin Moorman, Special Project Lead.

Kristin Moorman

Thank you, and good morning, everyone. Joining me today and participating in the call are John Gibson, CEO and President; Vicki Hay, Interim CFO; Nick Bigney, General Counsel, and other members of our leadership team.

On today's call, we will first provide prepared remarks concerning our operations and financial results. Following that, we will answer questions. We have now released our results for the first quarter of 2024, which are available on our website. In addition, today's call is being webcast and a replay will be available on our website shortly following the conclusion of the call.

Please note that comments we make on today's call regarding projections or our expectations for future events are forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control. These risks and uncertainties can cause actual results to differ materially from our current expectations. We advise listeners to review our earnings release and the risk factors discussed in our filings with the SEC. Also, please refer to the reconciliations provided in our earnings press release as we may discuss non-GAAP metrics on this call.

I will now turn it over to John.

John Gibson

Well, good morning. Thank you, Kristin, and thank you all for joining us for our conference call. I'm extremely excited about the company, but it is my style. I tend to go straight into a couple of challenges that the company faces and then we are going to switch over to the excitement of the pipeline of opportunities that are building around Aquanaut ToolKITT.

Now our listing makes us both unique and valuable. Rather than having to be a limited partner and a venture capital fund, which requires a $0.25 million minimum to participate, we offer an opportunity to invest directly in an emerging high growth technology business, serving the ocean market with anticipated CAGRs in the ocean market ranging from 8% to 15% for offshore drilling and win respectively through the year 2030.