Nauticus Robotics Gets Additional $2.1M Funding From Leidos For Undersea Vehicle Technology
Portfolio Pulse from Lekha Gupta
Nauticus Robotics Inc (KITT) has won an additional contract worth $2.1 million from Leidos Holdings Inc (LDOS) for technology development related to advanced undersea vehicles. This deal is an extension of an earlier contract from LDOS, valued at $2.7 million. Since 2022, the program has received $16.6 million in funding from Leidos. 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.
August 22, 2023 | 3:11 pm
News sentiment analysis
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NEUTRAL IMPACT
Leidos has awarded an additional $2.1M contract to Nauticus Robotics for undersea vehicle technology development, extending their existing partnership.
The additional contract to KITT is part of LDOS's ongoing investment in undersea vehicle technology. This could potentially lead to future operational enhancements, but the immediate impact on LDOS's stock price is likely to be neutral.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 75
POSITIVE IMPACT
Nauticus Robotics has secured an additional $2.1M contract from Leidos, bringing the total funding from Leidos to $16.6M. However, KITT's Q2 sales missed the consensus.
The additional contract from Leidos is a positive development for KITT, potentially leading to increased revenues in the future. However, the company's recent Q2 sales miss could negatively impact investor sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100