Nauticus Robotics Gets Additional $2.1M Funding From Leidos For Undersea Vehicle Technology

Nauticus Robotics Inc KITT won an additional contract worth $2.1 million from Leidos Holdings Inc LDOS for technology development related to advanced undersea vehicles.

The undersea robot features technology is expected to support longer and more challenging missions. 

Also, this award is expected to drive operational enhancements of the company's proprietary software package toolKITT, created to enable an ecosystem of autonomous actions for subsea vehicles.

This deal is an extension of an earlier contract from LDOS, which was valued at $2.7 million, for continued development of an Aquanaut-derived subsea platform. 

Since 2022, this program has received $16.6 million in funding from Leidos.

Also Read: Nauticus Robotics Bags Petrobras Contract For Its Autonomous Robot

Last week, KITT reported Q2 adjusted EPS loss of $(0.20), meeting the consensus and sales of $1.13 million, missing the consensus of $2.40 million. 

Price Action: KITT shares are trading higher by 2.3% at $1.9850 on the last check Tuesday.