Nauticus Robotics, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Investors in Nauticus Robotics, Inc. (NASDAQ:KITT) had a good week, as its shares rose 5.9% to close at US$1.92 following the release of its quarterly results. It was a shocking result from a revenue perspective, with revenues falling 54% short of analyst expectations. There was one bright spot though, with Nauticus Robotics reporting a surprise (statutory) profit of US$0.49, defying analyst expectations of a loss. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

See our latest analysis for Nauticus Robotics

Taking into account the latest results, the most recent consensus for Nauticus Robotics from three analysts is for revenues of US$12.5m in 2023. If met, it would imply a sizeable 23% increase on its revenue over the past 12 months. Losses are predicted to fall substantially, shrinking 82% to US$0.07. Before this earnings announcement, the analysts had been modelling revenues of US$14.5m and losses of US$0.64 per share in 2023. We can see there's definitely been a change in sentiment in this update, with the analysts administering a meaningful downgrade to next year's revenue estimates, while at the same time reducing their loss estimates.

The analysts have cut their price target 7.8% to US$5.30per share, suggesting that the declining revenue was a more crucial indicator than the forecast reduction in losses. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic Nauticus Robotics analyst has a price target of US$10.00 per share, while the most pessimistic values it at US$2.50. So we wouldn't be assigning too much credibility to analyst price targets in this case, because there are clearly some widely different views on what kind of performance this business can generate. As a result it might not be a great idea to make decisions based on the consensus price target, which is after all just an average of this wide range of estimates.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. One thing stands out from these estimates, which is that Nauticus Robotics is forecast to grow faster in the future than it has in the past, with revenues expected to display 51% annualised growth until the end of 2023. If achieved, this would be a much better result than the 19% annual decline over the past year. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 4.2% per year. So it looks like Nauticus Robotics is expected to grow faster than its competitors, at least for a while.

The Bottom Line

The most important thing to take away is that the analysts reconfirmed their loss per share estimates for next year. Regrettably, they also downgraded their revenue estimates, but the latest forecasts still imply the business will grow faster than the wider industry. Even so, earnings are more important to the intrinsic value of the business. Furthermore, the analysts also cut their price targets, suggesting that the latest news has led to greater pessimism about the intrinsic value of the business.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Nauticus Robotics analysts - going out to 2025, and you can see them free on our platform here.

Plus, you should also learn about the 4 warning signs we've spotted with Nauticus Robotics (including 1 which is potentially serious) .

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.