Nauticus Robotics Inc (KITT) 2024 Q2 法說會逐字稿

Good day, everyone, and welcome to today's Nauticus Robotics 2024 Q2 earnings call. (Operator Instructions) Please note, this call may be recorded. I'll be standing by if you should need any assistance.

大家好，歡迎參加今天的 Nauticus Robotics 2024 年第二季財報電話會議。（操作員說明）請注意，此通話可能會被錄音。如果您需要任何幫助，我會隨時待命。

It is now my pleasure to turn the conference over to Kristin Moorman, Nauticus' Special Projects.

現在我很高興將會議交給 Nauticus 特別計畫的 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, outgoing General Counsel; John Simington, Incoming General Counsel; and other members of our leadership team.

謝謝大家，大家早安。今天加入我並參加電話會議的是執行長兼總裁約翰·吉布森 (John Gibson)； Vicki Hay，臨時財務長；Nick Bigney，即將卸任的總法律顧問；約翰‧西蒙頓 (John Simington)，即將上任的總法律顧問；以及我們領導團隊的其他成員。

On today's call, we will first provide prepared remarks concerning our operations and financial results. Following that, we will answer questions.

在今天的電話會議上，我們將首先提供有關我們的營運和財務表現的準備好的評論。接下來，我們將回答問題。

We have now released our results for the second 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.

我們現已發布 2024 年第二季的業績，可在我們的網站上查看。此外，今天的電話會議正在網路直播，電話會議結束後不久將在我們的網站上提供重播。

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.

請注意，我們在今天的電話會議上發表的有關預測或對未來事件的期望的評論均為前瞻性陳述。前瞻性陳述受到許多風險和不確定性的影響，其中許多風險和不確定性超出了我們的控制範圍。這些風險和不確定性可能導致實際結果與我們目前的預期有重大差異。

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.

我們建議聽眾查看我們的財報以及我們向美國證券交易委員會提交的文件中討論的風險因素。此外，請參閱我們的收益新聞稿中提供的調整表，因為我們可能會在本次電話會議上討論非 GAAP 指標。

I will now turn it over to John.

我現在將把它交給約翰。

Well, thank you, Kristin. Good morning, and thank you for joining us on our conference call today. It's going to be a short call today. We're currently really focused on the 2025 backlog, and we have opportunities, both commercial and defense work that are being work done, and we'll be press releasing our progress on those contracts as they close.

好吧，謝謝你，克里斯汀。早安，感謝您參加今天的電話會議。今天將是一個簡短的電話會議。我們目前真正關注的是 2025 年的積壓工作，我們有機會，商業和國防工作都正在完成，我們將在這些合約結束時發布我們的進展。

We continue to receive strong support from our existing lenders as they're converting debentures, which has the dual impact of reducing our leverage and increasing our market cap. So thank you to our lenders. We finished Phase 1 for the largest South American deepwater operator and billed and received payment recently. We received a letter also for the completion of a DIU project, the successful completion and we'll send that final bill in Q3.

我們繼續得到現有貸方的大力支持，因為他們正在轉換債券，這具有降低我們的槓桿率和增加我們的市值的雙重影響。所以感謝我們的貸款人。我們為南美最大的深水業者完成了第一階段的工作，並於最近開立了帳單並收到了付款。我們還收到了一封關於 DIU 專案完成的信函，成功完成，我們將在第三季發送最終帳單。

We're planning to go to Gulf of Mexico with the Aquanaut Mark 2 vehicle this month and are finalizing requirements and scope of work with customers now. Daniel, our Head of Operations, is going to cover more of that in his section.

我們計劃本月駕駛 Aquanaut Mark 2 車輛前往墨西哥灣，現在正在與客戶最終確定要求和工作範圍。我們的營運主管 Daniel 將在他的部分中介紹更多內容。

Before we turn to our operational and testing activities, though, I want to update you on our progress with meeting NASDAQ's continuing listing standards. I want to thank our shareholders for approving the reverse split proposal at our June 28 Shareholder Meeting.

不過，在我們開始營運和測試活動之前，我想向您介紹我們在滿足納斯達克持續上市標準方面取得的最新進展。我要感謝我們的股東在 6 月 28 日的股東大會上批准了反向分割提案。

This key vote allowed us to perform a reverse split on July 22, which has brought our stock price over the $1 minimum bid price required by NASDAQ. We are continuing to work with NASDAQ on our plan to meet the market capitalization requirement, and have engaged advisers who are experts in NASDAQ hearings and extensions.

這次關鍵投票使我們能夠在 7 月 22 日進行反向分割，這使我們的股價超過了納斯達克要求的 1 美元最低買入價。我們將繼續與納斯達克合作制定滿足市值要求的計劃，並聘請了納斯達克聽證會和延期的專家顧問。

Now with that, I'm going to turn the call over to Daniel Dehart, our field operations leader to give you an update on our operations, Daniel.

現在，我將把電話轉給我們的現場營運負責人丹尼爾·德哈特 (Daniel Dehart)，丹尼爾，他將向您介紹我們營運的最新情況。

Thank you, John. Let me bring you up to date on the Aquanaut Mark 2 vehicle.

謝謝你，約翰。讓我為您介紹 Aquanaut Mark 2 車輛的最新資訊。

We have partnered with Florida Atlantic University this summer to test our vehicle so we can more efficiently progress the technology towards commercial application. The FAU campus located near Fort Lauderdale, Florida is extremely cost effective and provides access to a campus that has immense knowledge of AUV technology.

今年夏天，我們與佛羅裡達大西洋大學合作測試我們的車輛，以便我們能夠更有效地將技術推向商業應用。FAU 校園位於佛羅裡達州勞德代爾堡附近，極具成本效益，並且可以進入擁有豐富 AUV 技術知識的校園。

This location has provided the ideal setup to develop the Aquanaut system in a controlled environment and is easily accessible to open water off the coast of East Florida. We have completed several missions with integrated sensor implementation, we began leak detection testing to satisfy an existing contract and continued testing obstacle collision avoidance movements.

該位置為在受控環境中開發 Aquanaut 系統提供了理想的設置，並且可以輕鬆進入東佛羅裡達海岸附近的開放水域。我們已經透過整合感測器實施完成了多項任務，我們開始進行洩漏檢測測試以滿足現有合同，並繼續測試避障運動。

We are mobilizing vehicle 2 from FAU to return to the Gulf of Mexico and place to deliver vehicle 1 to FAU for testing during Q4. We are currently on schedule to mobilize back onto the vessel in August to begin the field application of the Aquanaut vehicle to complete a general field inspection of the oil and gas subsea structures. We are committed to completing the project safely and efficiently. We are eager to introduce the market toolKITT, supervised autonomy and believe it is the first step to increase commercial activity.

我們正在調動 FAU 的 2 號車輛返回墨西哥灣，並在第四季將 1 號車輛交付給 FAU 進行測試。目前，我們計劃在 8 月返回船上，開始 Aquanaut 車輛的現場應用，以完成石油和天然氣海底結構的一般現場檢查。我們致力於安全、有效率地完成該專案。我們渴望引入市場工具KITT，監督自治，並相信這是增加商業活動的第一步。

I'll now turn it back over to John.

我現在將其轉回給約翰。

Thank you, Daniel. We're really excited to be headed back to the Gulf of Mexico this month and look forward to revenue-generating work while we're there.

謝謝你，丹尼爾。我們很高興本月能回到墨西哥灣，並期待在那裡進行創收工作。

Now I would like to turn the call over to Vicki to discuss our financial results.

現在我想將電話轉給 Vicki，討論我們的財務表現。

Thank you, John, and good morning. As just mentioned earlier, the 36:1 reverse split was completed on July 22. All references in our 10-Q and press releases in regard to equity and related items are now stated on a post-split basis. I will now discuss in more detail our financial results for the second quarter.

謝謝你，約翰，早安。剛才已經提到，36：1的反向分割是在7月22日完成的。我們的 10-Q 和新聞稿中有關股權和相關項目的所有引用現在都是在分拆後的基礎上表述的。我現在將更詳細地討論我們第二季的財務表現。

Revenue for the second quarter was $500,000, which is the same as the first quarter 2024 and down $600,000 from the same period last year. Revenue recognized in the second quarter is primarily related to our work with the largest South American deepwater operator.

第二季營收為 50 萬美元，與 2024 年第一季持平，較去年同期下降 60 萬美元。第二季確認的收入主要與我們與南美洲最大的深水業者的合作有關。

Operating expenses for the second quarter were $6.5 million, which is a $1.5 million decrease from Q2 '23 and a sequential increase of $0.5 million. Notably, the second quarter results include a $0.5 million expense for a loss on contracts, which will be incurred in Q3 '24, while Q1 benefited from a $2.5 million expense loss on contracts that was recognized in Q4 '23 as part of our percentage of completion accounting.

第二季營運費用為 650 萬美元，比 2023 年第二季減少 150 萬美元，季增 50 萬美元。值得注意的是，第二季業績包括50 萬美元的合約損失費用，該損失將在24 年第三季產生，而第一季受益於250 萬美元的合約費用損失，該損失在23 年第四季度確認為我們的百分比的一部分竣工會計。

Net loss for the quarter was $5.4 million. This is a $26 million reduction from the second quarter of '23 and a $4.9 million increase sequentially. The large variance between the periods primarily relate to non-cash $29 million change in fair value of outstanding warrants in Q4 '23 versus a $4.4 million non-cash change in fair value of borrowings in Q2 '24.

該季度淨虧損為 540 萬美元。這比 2023 年第二季減少了 2,600 萬美元，比上一季增加了 490 萬美元。各期間之間的巨大差異主要與 23 年第 4 季未償還認股權證公允價值非現金變動 2,900 萬美元有關，而 24 年第 2 季借款公允價值非現金變動為 440 萬美元。

Adjusted net loss for the first quarter was $8.9 million compared to $7.4 million for the prior quarter and $6.8 million in the same period prior year. The first quarter benefited from the Q4 '23 accrual of $2.5 million relating to the loss-making contracts that otherwise would have hit in Q1 '24.

第一季調整後淨虧損為 890 萬美元，上一季調整後淨虧損為 740 萬美元，去年同期為 680 萬美元。第一季受益於 23 年第 4 季與虧損合約相關的 250 萬美元的應計費用，否則這些合約將在 24 年第 1 季遭受損失。

G&A costs for the first quarter were $3.2 million, which is a decrease of $2.3 million complete at the same period '23 and a $0.2 million decrease from Q1 '24. We are actively working to reduce G&A costs as we continue throughout 2024.

第一季的一般管理費用為 320 萬美元，比 2023 年同期減少了 230 萬美元，比 24 年第一季減少了 20 萬美元。我們將在 2024 年繼續積極努力降低一般管理費用。

Cash at the end of Q2 '24 was $8.1 million compared to $0.7 million at the end of '23, this is a result of funding received in January of $13.3 million, along with raising $9.5 million through our at-the-market facility in the second quarter.

24 年第二季末的現金為 810 萬美元，而 23 年末的現金為 70 萬美元，這是 1 月收到的 1,330 萬美元資金以及透過我們在第二季。

During the second quarter, we moved our Drix out of held for sale back to PPE as we now have the Drix working on a revenue-generating contract that started in July. Additionally, we have a signed offer on our Hydronaut vessel, which has been in held for sale since December '23. This is expected to close prior to the end of the third quarter of 2024.

在第二季度，我們將 Drix 從待售狀態移回 PPE，因為我們現在讓 Drix 致力於一項從 7 月開始的創收合約。此外，我們還簽署了 Hydronaut 船隻的報價，該船隻自 23 年 12 月以來一直處於待售狀態。預計將於 2024 年第三季末前完成。

I will now pass the call back to John.

我現在將把電話轉回給約翰。

Thank you, Vicki. Before opening it up for questions, I just wanted to take a few moments to address one more matter.

謝謝你，維基。在開始提問之前，我只想花點時間解決另一件事。

As you may have seen from our public filings, Nick Bigney will be leaving us at the end of this week. When I came over to Nauticus, I reached out to Nick to help me. And I happen to catch him between jobs and he was willing to come over and put us on the right track here.

正如您可能從我們的公開文件中看到的那樣，尼克比格尼將於本週末離開我們。當我來到 Nauticus 時，我向尼克求助。我碰巧在工作間隙遇見了他，他願意過來讓我們走上正軌。

I'm incredibly grateful to Nick. He's been a good friend, a good sounding board and a good commercial mind. And we've enjoyed having him here, and we're incredibly pleased that Nick, because of the relationship we have and what he sees in the company has agreed to stay on and transition to our new General Counsel who I'll introduce in just a moment.

我非常感謝尼克。他是一個好朋友、一個很好的參謀和一個很好的商業頭腦。我們很高興他來到這裡，我們非常高興尼克，由於我們之間的關係以及他對公司的看法，他同意留下來並過渡到我們的新總法律顧問，我將在稍後介紹他。

Nick, any comments you'd like to make.

尼克，你想發表什麼意見。

Thanks for the kind words, John. And I'm incredibly grateful for my time here. I'm leaving with some real mixed emotions. I'm a big believer in Nauticus technology, it's potential, and its future, but moreover, the leadership team, John has been a mentor and friend for many years now. It's been a pleasure to work with him, and I believe in the direction the team is setting here.

謝謝你的客氣話，約翰。我非常感謝我在這裡度過的時光。我帶著一些複雜的情緒離開。我非常相信 Nauticus 技術、它的潛力和未來，而且，約翰多年來一直是領導團隊的導師和朋友。與他一起工作很愉快，我相信團隊在這裡設定的方向。

Nauticus is really fortunate to have John [Symington] coming in as the incoming General Counsel. He's very experienced, he's a legal leader with expertise in SEC and NASDAQ matters, and we've been fortunate enough to have a handover this week to make this transition as seamless as possible.

Nauticus 非常幸運，約翰·賽明頓 (John Symington) 擔任即將上任的總法律顧問。他經驗豐富，是一位在 SEC 和納斯達克事務方面擁有專業知識的法律領導者，我們很幸運能夠在本週進行交接，以使這一過渡盡可能順利。

I'll continue to watch and support Nauticus closely from the sidelines of the shareholder and cheerleader, and I've agreed to make myself available through the coming months to the entire team here to make sure that it is as seamless as possible, and we don't have a gap in institutional knowledge.

我將繼續從股東和啦啦隊長的角度密切關注和支持 Nauticus，我同意在接下來的幾個月為整個團隊提供幫助，以確保一切盡可能順利，我們機構知識不存在差距。

Nick, thank you, and I really appreciate what you've done here. And now I'd like to introduce John Simington. John, why don't you introduce yourself?

尼克，謝謝你，我真的很感激你在這裡所做的一切。現在我想介紹約翰·西蒙頓。約翰，你為什麼不自我介紹一下呢？

Well, thank you, John. I am delighted to be here, and I look forward to helping this team grow the company. I believe my experiences with growth and transformation at other companies will be helpful to me here. And I believe we really have a rare chance to provide something new and different for our customers here at Nauticus and it's an exciting place to be.

嗯，謝謝你，約翰。我很高興來到這裡，我期待著幫助這個團隊發展公司。我相信我在其他公司的成長和轉型的經驗會對我在這裡有所幫助。我相信我們確實有一個難得的機會為 Nauticus 的客戶提供一些新的、不同的東西，這是一個令人興奮的地方。

Well, John, it is good to have you here, I do think that John joining really emphasizes the fact that we've got a great plan and a great mission. John's quality talent, could be anywhere, he chose to be here, strong NASDAQ resume, really strong background with large companies and successful ones, and I'm delighted to have John onboard.

嗯，約翰，很高興你來到這裡，我確實認為約翰的加入確實強調了這樣一個事實：我們有一個偉大的計劃和偉大的使命。約翰的高素質人才可以在任何地方，他選擇在這裡，強大的納斯達克簡歷，大公司和成功公司的強大背景，我很高興約翰加入。

With that, I'd like to just open it up for any questions if there are any. And so I'll turn it back to you, operator.

就這樣，如果有任何問題，我想打開它。所以我會把它轉回給你，接線生。

(Operator Instructions) [Robert Mendrala].

（操作員說明）[羅伯特·門德拉拉]。

Yes, the question was around, what's the current market cap and the number of outstanding shares total that would be available to float to the public and then those held inside.

是的，問題在於，目前的市值和可向公眾發行的已發行股票總數是多少，然後是內部持有的股票數量。

So this is Nick. I can answer that for you. We've got roughly about 4.6 million in the market, market cap of approximately about $11 million, I think, on just what's outstanding with the ventures converting the real true market cap of the company closer to about $40 million to $50 million, varies based on the day of the share price.

這就是尼克。我可以為你解答。我們的市場大約有 460 萬個，市值約為 1100 萬美元，我認為，根據風險投資的突出表現，公司的真實市值接近 4000 萬至 5000 萬美元，因情況而異於股價公佈當日。

Okay. So the market cap is closer to $40 million to $50 million. Is that my understanding.

好的。因此市值接近 4,000 萬至 5,000 萬美元。這是我的理解嗎。

On a fully diluted basis, that's correct.

在完全稀釋的基礎上，這是正確的。

Okay. So does that meet then the NASDAQ requirement?

好的。那麼這是否滿足納斯達克的要求呢？

We're working with them on that. They will look at certain criteria. But yes, we think we have a path forward there.

我們正在與他們合作。他們會考慮某些標準。但是，是的，我們認為我們有一條前進的道路。

Okay. Very good. And then the other question I have was on revenue. I noted in some of the prior press release that for one of the AUV's the daily rate would be about $25,000 to about $75,000. Is that a pretty set schedule for revenue?

好的。非常好。我的另一個問題是收入。我在之前的一些新聞稿中指出，其中一艘 AUV 的日費率約為 25,000 美元至 75,000 美元。這是一個相當固定的收入時間表嗎？

In other words, once it's deployed, on at that revenue for two to seven days a week or could you provide a little more color on that, please.

換句話說，一旦部署，每週 2 到 7 天都會保持該收入，或請您提供更多資訊。

Well, I've got Daniel here, too, who can fill in or correct me whichever one is required. When we say $25,000 to $75,000, that's really an all-in price to the customer, which includes the consumables, the diesel on the vessels, the vessel. If we have to have an ROV that would be billed in as well.

好吧，丹尼爾也在這裡，他可以根據需要填寫或糾正我。當我們說 25,000 美元到 75,000 美元時，這對客戶來說實際上是一個總價，其中包括消耗品、船舶上的柴油和船舶。如果我們必須擁有 ROV，也會收取費用。

And as we're going through this transition to full autonomy, we're likely to be carrying an ROV for some customers because they're going to want some verification that the performance of the Aquanaut is more of a transition to full autonomy.

當我們正在經歷向完全自主的過渡時，我們可能會為一些客戶攜帶 ROV，因為他們需要一些驗證，以證明 Aquanaut 的表現更多是向完全自主的過渡。

They want full supervised autonomy, and so when you look at that, the bill, you break out the vessel, the consumables, potential for a small ROV and then the Aquanaut. I'd say here in the Gulf of Mexico, we would be modeling 200 days a year for work either due to weather losses or one thing and another, internationally be the same.

他們想要完全受監督的自主權，所以當你看到這個、帳單時，你會列出船隻、消耗品、小型 ROV 的潛力，然後是 Aquanaut。我想說的是，在墨西哥灣這裡，我們每年將模擬 200 天的工作，要不是因為天氣原因，就是這樣或那樣的情況，國際上都是一樣的。

It just has to be the flip season, so it's summertime in South America when its winter time here, and the day rate in non-U.S. work are higher, but that doesn't mean the margin is getting higher. You have very similar margin is just that you're going to be running at a higher day rate.

只是必須是翻轉季節，所以南美是夏季，而這裡是冬季，非美國工作的日薪更高，但這並不意味著利潤會更高。你們的利潤率非常相似，只是你們將以更高的日費率運作。

But that's the right numbers. And so the model 200 days a year, and I hope as we go into '26, '27 is that you're operating vehicles in the Gulf of Mexico during the good weather in the Gulf and you're in the Northern Hemisphere and then in the bad weather for the Northern Hemisphere you are in the Southern Hemisphere with our vehicle. So we're looking at trying to get in the full year, if you are going with weather today.

但這是正確的數字。因此，一年 200 天的模型，我希望當我們進入“26”、“27”時，您在墨西哥灣的好天氣期間在墨西哥灣操作車輛，並且您在北半球，然後如果北半球天氣惡劣，您將乘坐我們的車輛前往南半球。因此，如果您今天關注的是天氣，我們正在考慮爭取全年的情況。

I understand. So thank you. So the other vehicle that's being tested at FAU, it's, I guess, set to deploy sometime in Q4, would that be on a similar type of a daily -- per DM charge?

我明白。所以謝謝你。因此，我猜，正在 FAU 測試的另一輛車將在第四季度的某個時候部署，是否會採用類似的每日費用 - 按 DM 收費？

Great question, Robert. The one we have at FAU now is actually vehicle 2 that was in the Gulf of Mexico. It's just about ready to be put back into the box and carried back to the Gulf, so came over and will go out this month.

好問題，羅伯特。我們現在在 FAU 擁有的實際上是墨西哥灣的 2 號車。它即將準備好放回盒子並帶回海灣，因此本月將送出。

Vehicle 1 is the one that we're working on here and assembling in the job, it will replace vehicle 2 at FAU, and we'll do the certification and testing and trials there in the Atlantic, and then we are working on contracts for that vehicle. It will leave from there and go and we should complete, we can get it there and again all the certification this year.

車輛 1 是我們在這裡工作並在工作中組裝的車輛，它將取代 FAU 的車輛 2，我們將在大西洋進行認證、測試和試驗，然後我們正在簽訂合約那輛車。它將從那裡離開，我們應該完成，我們可以在那裡獲得它，並在今年再次獲得所有認證。

So that we would have that vehicle available to us next year for revenue, and then we'll begin assembling vehicle 3 in the first quarter of 2025, and so imagine one we've got now going in the next week to two weeks back to the Gulf, to chase revenue, one will go from here to FAU and then the third one will be assembled starting Q1 next year.

這樣我們明年就可以使用該車輛來獲得收入，然後我們將在 2025 年第一季開始組裝第 3 輛車，想像一下我們現在擁有的車輛將在下周到兩週內回到海灣地區，為了追求收入，其中一個將從這裡運往FAU，然後從明年第一季開始組裝第三個。

Okay. Very good. And then let me ask a quick question on toolKITT. I know that's an industry game changer. How are you looking for revenue there?

好的。非常好。然後讓我問一個關於 toolKITT 的簡單問題。我知道這是行業遊戲規則的改變者。您如何尋找那裡的收入？

What could we expect as toolKITT is more and more adopted and rolled out to the industry.

隨著 toolKITT 越來越多地被業界採用和推廣，我們能期待什麼？

Your questions are -- you could be a director here, Robert, it's an excellent question. We're very excited about toolKITT. We had a breakthrough this week, one of the things that we do with toolKITT is we simulate toolKITT and our simulation had been slow.

你的問題是──你可以成為這裡的導演，羅伯特，這是一個很好的問題。我們對 toolKITT 感到非常興奮。本週我們取得了突破，我們使用 toolKITT 所做的事情之一就是模擬 toolKITT，但我們的模擬速度很慢。

And so we weren't getting in the number of runs that we wanted and so we had one of our developers here, outstanding young man, he came in and modified our sim work so that we were able to increase it by an order of magnitude to speed. That's significant in our ability to test the software without having to have a vehicle in the water, and it performs almost identically to the vehicles in the water.

所以我們沒有達到我們想要的運行次數，所以我們這裡有一位開發人員，傑出的年輕人，他進來修改了我們的模擬工作，以便我們能夠將其增加一個數量級加快速度。這對於我們測試軟體的能力非常重要，而無需將車輛放入水中，而且它的性能與水中的車輛幾乎相同。

We are working with an ROV company right now that's excited about deploying toolKITT on their ROV's and we're working through the contract in working with them. And I think that's a press release and a discussion that we'll be able to have in the very near future.

我們現在正在與 ROV 公司合作，該公司很高興在他們的 ROV 上部署 toolKITT，並且我們正在與他們合作履行合約。我認為這是我們在不久的將來能夠進行的新聞稿和討論。

I think the software itself is going to be, I think, the core of the company if we look out in future years because you're able to move that so much more quickly than you are the vehicles themselves, it's higher margin, and reflects a lower capital, faster capability. And so we are focused on making that a commercial product. I have with me the gentlemen doing that here.

我認為，如果我們在未來幾年放眼未來，軟體本身將成為公司的核心，因為你能夠比車輛本身更快地移動它，它的利潤率更高，並且反映出更低的資本，更快的能力。因此，我們致力於將其變成商業產品。先生們和我一起在這裡做這件事。

Jason, would you want to make any comments on.

傑森，你想發表任何評論嗎？

We've been engaging a lot with oil and gas operators, service companies who go and acquire data using ROVs as well as ROV manufacturers and providers. And as John mentioned, we have quite a lot of interest with all the different parties, and we're looking forward to taking those partnerships forward.

我們一直與石油和天然氣運營商、使用 ROV 獲取數據的服務公司以及 ROV 製造商和供應商進行了大量合作。正如約翰所提到的，我們對所有各方都非常感興趣，我們期待著推動這些夥伴關係向前發展。

I think that's a wonderful pivot. I agree with the AI and the software. It's a great revenue stream. And as you mentioned, it's -- it can be rolled out very efficiently and effectively fairly easily. While the other part of the business --

我認為這是一個很棒的支點。我同意人工智慧和軟體。這是一個巨大的收入來源。正如您所提到的，它可以非常有效且相當容易地推出。而其他部分的業務--

I would say there's no pivot here. Without that toolkit, we can't operate the vehicle. It's just that the vision of the company when it started to be platform agnostic and be able to run on anything is facilitating us looking to others to really help them springboard their operations and get them going and us taking care of the testing and the certification of the system itself. It's an exciting opportunity for us, but no pivot. We must have to get in order to operate Aquanaut.

我想說這裡沒有支點。沒有該工具包，我們就無法操作車輛。只是公司開始與平台無關並且能夠在任何平台上運行時的願景促使我們希望其他人能夠真正幫助他們啟動運營並讓他們繼續前進，而我們則負責測試和認證系統本身。這對我們來說是一個令人興奮的機會，但沒有關鍵點。我們必須得到才能操作 Aquanaut。

So it's just fundamentally core to our business. I probably need to jump to another question, Robert, but you feel free to call any time. I really appreciate your insights in the company.

所以它是我們業務的根本核心。我可能需要跳到另一個問題，羅伯特，但您可以隨時打電話。我非常感謝您對公司的見解。

Operator, do we have anybody else in the queue?

接線員，隊列裡還有其他人嗎？

[John Manion], Geneva Enterprises.

[約翰·馬尼恩]，日內瓦企業。

I am just a regular retail investor in the stock, and I had a few questions. Well, not really a few, but just one primarily. I know back in 2022, you guys announced a contract bid with the marines. And I think it was through the IUD program, specifically for defense contracting. Is there anything else coming down the pipeline in regards to that specific contract?

我只是該股票的普通散戶投資者，我有幾個問題。嗯，不是幾個，而是主要的一個。我知道早在 2022 年，你們就宣布了與海軍陸戰隊的合約競標。我認為這是透過子宮內避孕器計劃，特別是國防合約。關於該特定合約還有其他進展嗎？

Any movement or any updates that you can provide in terms of development cost, revenue, anything relating to that contract specifically? And is there anything in the future that you're looking for to build on for defense contracting and so on and so forth with regards to, obviously, the AUV's.

您可以在開發成本、收入或與該合約具體相關的任何方面提供任何變更或更新嗎？未來您是否正在尋找任何與 AUV 相關的國防合約等基礎設施？

So it's another excellent question. And I'm sitting here looking at my new General Counsel and he's shaking my head about saying anything, we're trying hard not to give any forward-looking statements until we get everything closed. But we are actively negotiating on a potential defense contract right now.

這是另一個很好的問題。我坐在這裡看著我的新總法律顧問，他對我說的話搖搖頭，我們努力在一切結束之前不發表任何前瞻性聲明。但我們現在正在積極談判一份潛在的國防合約。

And I use all of those waffle words because until we have ink on it, I'm prone not to try to make promises at this point, it looks extremely good. The discussions are ongoing technically and commercially.

我使用所有這些華夫餅的話是因為在我們有墨水之前，我傾向於不會在這一點上做出承諾，它看起來非常好。技術和商業方面的討論正在進行中。

And so as soon as we have something that is concrete, then we'll get a press release out to you on that. But the right thing to say is extremely interested in defense work and pursuing that and believe that we'll have information on that for you as we go forward.

因此，一旦我們有了具體的消息，我們就會向您發布有關該消息的新聞稿。但正確的說法是對國防工作和追求這一目標非常感興趣，並相信隨著我們的進展，我們將為您提供有關這方面的資訊。

Awesome. That was the main question that I had. So thank you very much for your time.

驚人的。這是我的主要問題。非常感謝您抽出寶貴的時間。

Operator, do we have any more followups.

接線員，我們還有後續嗎？

We have no further questions at this time. I'd be happy to return the call to John Gibson for closing comments.

目前我們沒有進一步的問題。我很樂意回電給約翰·吉布森以徵求結束意見。

Thank you. We're excited about the company. We're excited to have John join. We're excited about the work we're about to go do in the Gulf of Mexico now for customers. We've got calls later today working on how we're going to execute that.

謝謝。我們對這家公司感到興奮。我們很高興約翰加入。我們對即將在墨西哥灣為客戶所做的工作感到興奮。今天晚些時候我們接到電話，討論如何執行該計劃。

We have some really good partnerships that are developing with other service providers, and I think we're at that crucible where we're at an inflection point, and we're working to turn the corner.

我們與其他服務提供者建立了一些非常良好的合作夥伴關係，我認為我們正處於轉折點，我們正在努力扭轉局面。

It's not that point where I can really say much, but I think all of the indicators are there that we're on the right track. We have the right vehicle. We have the right operating system. We've got the right team in place here. We've augmented the team with another real professional, in John Simington joining us. And so we won't lose any momentum.

現在我還不能說太多，但我認為所有指標都表明我們正走在正確的軌道上。我們有合適的車輛。我們有合適的作業系統。我們在這裡擁有合適的團隊。我們又聘請了另一位真正的專業人士來擴充團隊，約翰·西明頓 (John Simington) 也加入了我們。所以我們不會失去任何動力。

And we look forward to trying to create wealth for everybody involved in Nauticus, including our employees and our shareholders and our lenders. So -- we just -- and we want to do a great job for customers. And I think that's how you build a fantastic company and just stick with us.

我們期待為 Nauticus 的每個人創造財富，包括我們的員工、股東和貸方。所以——我們只是——我們希望為客戶做得很好。我認為這就是你建立一家出色的公司並堅持與我們合作的方式。

This is -- we're right there at that point where I think we're about to come through the inflection point for the company. I appreciate you guys. Take care.

我認為我們正處於公司即將迎來拐點的時刻。我很感激你們。小心。

This does conclude today's program. You may now disconnect your lines, and everyone, have a great day.

今天的節目到此結束。現在您可以斷開線路了，祝大家有個愉快的一天。