Nauticus SPAC Presentation Deck
SELECTED PUBLIC COMPARABLE COMPANIES
%
Share
Equity
price as of 52-week Value
11/15/2021 high ($mm)
$10.00 n/a
561
($ in millions, except per share valu
Company
Nauticus Robotics
Robotics & Automation
Keyence
Intuitive Surgical
ABB
Fanuc
Hexagon
Rockwell Automation
Ametek
Cognex
Teledyne
Siasun
Disruptive Category Creators
Tesla
Uber
Autodesk
Palantir
Sunrun
C3.ai
Proto Labs
¥71,490.00 94%
$353.56 96%
CHF 32.24 93%
¥23,595.00 79%
SEK 136.80 90%
$335.06 95%
$140.09 98%
82%
95%
$83.16
$443.84
CNY 10.20 71%
Mean
Median
89%
93%
Velodyne Lidar
Ouster
Innoviz
Arrival
Lilium
Luminar
Proterra
ESS Tech
Chargepoint
QuantumScape
$1,013.39 81% 1,019,895
$43.61 68%
84,609
$326.39 95%
71,757
$23.41 52%
46,933
$57.96 57%
11,998
5,026
1,608
177,404
46,933
26%
20%
$48.28
$58.30
Mean
Median
57%
57%
$9.11
$8.45
$6.83
$7.58
$6.00
$13.52
$9.75
$21.99
$12.51
Recent All-Electric Autonomous Platforms de-SPACS (Current Trading)
Faraday Future
2,955
Canoo.
2,016
1,342
1,301
802
8,388
2,766
7,904
2,731
3,356
2,731
Mean
Median
$16.19
$15.26
$26.93
$40.58
Mean
Median
44%
34%
22%
43%
34%
36%
63%
46%
40%
$8.70
$6.59
40%
40%
Recent Pure-Play RaaS de-SPACs (Current Trading)
Sarcos Robotics
74%
Berkshire Grey
Mean
Median
152,170
126,305
69,703
39,723
42,080
38,861
32,406
14,703
20,707
2,477
53,914
39,292
Recent Energy Transition and Clean-Tech de-SPACS (Current Trading)
EVGO
67%
53%
54%
31%
51%
54%
49%
61%
61%
Ent.
Value
EV / EBITDA
($mm) CY'22E CY'23E CY'24E CY'25E CY'26E
1503.9x 12.2x
377
3.4x
1.3x
0.7x
4,283
2,061
8,750
17,149
8,061
6,516
144,041 37.4x 33.6x 29.6x 26.0x n/a
122,221 44.0x 39.0x 33.9x 31.7x 28.6x
73,360 14.0x 12.9x 10.9x 10.4x n/a
34,491 14.5x 13.9x 13.2x 13.4x n/a
44,404 21.4x 19.8x 16.5x 14.9x n/a
42,896 23.6x 21.5x 19.8x 18.0x n/a
34,877 19.7x 18.7x n/a n/a n/a
14,337 37.0x 30.9x 29.0x 26.2x n/a
24,759 18.9x 17.6x 17.0x 16.0x n/a
2,516 74.3x 51.5x n/a n/a n/a
53,790 30.5x 25.9x 21.2x 19.6x 28.6x
38,886 22.5x 20.6x 18.4x 17.0x 28.6x
1,197
1,514
1,355
1,355
1,015,399 65.7x 47.7x 35.8x 28.7x 23.3x
89,686 59.7x 24.2x 14.9x 10.2x 9.3x
72,917 35.7x
29.0x
24.0x 21.1x 19.1x
44,662 81.0x 60.0x n/a n/a n/a
19,286 negative 940.4x 108.8x
61.2x
n/a
3,931 negative negative n/a n/a n/a
n/a n/a
30.3x 17.2x
59.7x 38.4x 29.9x 24.9x 19.1x
1,532 16.1x 10.7x n/a
178,202 51.6x 185.4x 45.9x
44,662
5,041 negative negative
33.2x 3.9x n/a
1,616 negative negative negative 176.3x 10.0x
1,036 negative negative 23.8x n/a n/a
1,092 negative negative negative 10.1x n/a
480 negative negative 34.3x 2.9x n/a
8,120 negative 65.2x 10.2x 2.8x n/a
7,399 negative negative 916.8x 30.5x
2,706 negative negative negative negative 63.8x
n/a
n/a
36.9x
36.9x
2,122 negative 276.5x 11.2x 3.9x
3,290 n/a
2,122 n/a
170.9x 171.6x 32.9x
170.9x
28.5x 3.9x
21.4x
3,788 negative negative 56.6x
11.4x
1,755 negative 877.5x 13.4x 4.9x 2.4x
8,156 negative negative negative 87.5x 24.0x
15,675 negative negative negative negative negative
7,344 n/a 877.5x 35.0x 37.9x 12.6x
5,972 n/a 877.5x 35.0x 21.4x 11.4x
960 negative negative
33.0x
3.6x 1.6x
1,310 negative negative n/a n/a n/a
1,135 n/a n/a 33.0x 3.6x 1.6x
1,135 n/a n/a 33.0x 3.6x 1.6x
EV / Revenue
CY'22E CY'23E CY'24E CY'25E CY'26E
16.1x 4.0x 1.9x 0.7x
0.5x
21.1x 19.1x
19.0x 16.7x
2.4x 2.3x
4.9x
4.9x
8.1x
7.6x
5.1x
4.9x
4.7x
5.5x
n/a
11.1x 10.1x
5.8x
12.6x
4.5x
4.3x
8.8x
4.3x
4.0x
3.9x n/a
8.0x
8.0x
5.5x
5.2x
5.8x
17.1x 15.2x
14.6x 13.5x
2.2x 2.2x
13.8x
13.2x
2.2x
4.7x
4.5x
4.1x
6.9x
6.0x n/a
4.5x
4.3x
n/a
n/a
8.8x
n/a
14.3x
3.6x
14.0x
22.6x 17.5x
10.6x 9.3x
12.8x 9.8x
2.9x 2.6x
11.6x 9.4x
12.8x 9.8x
11.3x 9.5x
2.9x
2.4x
12.2x 10.7x
n/a
8.2x
5.0x
n/a
7.1x
8.2x
0.8x
1.2x
2.5x
2.7x
2.2x
3.8x
n/a
7.3x
5.3x
154.8x 25.8x
7.2x
12.7x 5.8x
2.7x
83.8x 15.8x 5.0x
83.8x 15.8x 5.0x
8.0x
4.5x
2.1x
1.6x
9.5x
8.6x
n/a
n/a
7.4x n/a
3.3x 2.5x
n/a
4.3x
3.5x
n/a
6.1x
7.4x
n/a
n/a
7.5x
4.3x
17.2x 2.0x
0.3x
0.8x
30.9x 2.4x
10.9x 5.7x
12.5x 4.6x
n/a
1.2x n/a
22.7x 7.8x
0.9x
n/a
2.6x
0.7x
n/a
1.3x
7.6x
80.7x 6.3x
n/a n/a 38.3x 4.1x
186.8x 56.3x 18.5x 9.3x
5.1x 2.9x 1.5x
45.8x 11.0x 7.8x
19.9x 5.2x 2.5x
0.8x n/a
2.3x 3.2x
1.3x
0.8x
n/a
0.6x
n/a
67.4x 24.9x 11.2x 6.5x 3.9x
45.6x 5.8x 2.3x 1.1x 0.7x
22.1x 13,4x 8.7x 6.7x 5.5x
n/a n/a 1544.3x 449.8x 66.0x
45.0x 14.7x 391.6x 116.0x 19.0x
45.6x 13.4x 9.9x 6.6x 4.7x
1.9x
1.4x
1.7x
1.7x
1.0x
n/a
1.0x
1.0x
CY'22E CY'23E CY'24E CY'25E CY'26E
131% 303% 114% 155% 55%
12%
14%
5%
13%
11%
16%
9%
12%
19%
17%
13%
13%
39%
46%
19%
Revenue Growth
29%
15%
35%
9%
27%
29%
11%
14%
5%
(1)%
7%
4%
5%
14%
6%
11%
7%
6%
27%
26%
15%
29%
15%
30%
12%
22%
26%
12%
8%
6%
1%
6%
4%
10%
14%
4%
5%
n/a n/a
10%
14%
6%
5%
n/a
n/a
8%
8%
8%
7%
12%
14%
19%
19%
14%
n/a
14%
98%
n/a
33%
19%
19%
15%
13%
n/a
10%
51%
n/a
22%
15%
10%
2%
(1)%
9%
n/a
4%
n/a
n/a
n/a
n/a
5%
4%
77%
33%
11%
n/a
n/a
32%
n/a
38%
33%
n/a
n/a
768% 134% 148%
n/a 1,170% 96% 54% 41%
46% 91% 130% n/a n/a
163% 169% 70% 134% n/a
165% 190% 260% 149% n/a
n/a 1,190% 142% 283% n/a
n/a n/a n/a 841% 207%
27% 232% 204% 99% 23%
72% 77% 97% 77% n/a
94% 486% 142% 223% 90%
72% 211% 132% 141% 41%
166% 171% 122% 71% 67%
1,309% 690% 152% 105% 55%
60% 65% 55% 30% 21%
n/a n/a n/a 243% 582%
512% 309% 110% 112% 181%
166% 171% 122% 88% 61%
12% 501% 255% 279% 96%
112% 119% 117% 86% n/a
62% 310% 186% 182% 96%
62% 310% 186% 182% 96%
CY'22E
1%
EBITDA margin
CY'23E
33%
56%
43%
17%
34%
57%
43%
18%
36%
38% 38%
23%
22%
29% 30%
34%
24%
6%
36%
24%
7%
31%
30%
32%
33%
CY'24E CY'25E
56%
55%
58%
43%
20%
36%
42%
24%
n/a
35%
24%
n/a
35%
35%
22%
6%
39%
28%
(5)%
24%
12%
42%
29%
1%
(33)% (21)% n/a
18%
24%
n/a
11%
16%
24%
18%
24%
21%
26%
16%
45%
n/a
8%
(185)% (18)%
(649)% (58)%
(107)% (43)%
(83)% (17)% (6)%
(412) % (120) % 6%
(165)% 10% 25%
negative negative (365) %
(390)% (99)% 2%
(16)% 1% 13%
(251)% (43)% (37)%
(175)% (31)% 3%
3%
(19) %
10%
(657)% (80)% 22%
(105)% (36)% n/a
(381)% (58)% 22%
(381)% (58)% 22%
59%
43%
21%
n/a
46%
n/a
34% n/a
40%
n/a
25%
n/a
n/a
n/a
34%
n/a
n/a
24%
n/a
35%
n/a
46%
46%
34%
28%
20%
45%
n/a
12%
n/a
n/a
26%
24%
31%
23%
(94)% (5)% 20%
(112)% 1% 17%
(43)% (19) % (1)% 8%
negative negative (2,219) % (602)%
(83)% (8)%
(94)% (5)%
(546) % (135)%
15%
8%
CY'26E
64%
9%
n/a
0%
6%
n/a
n/a
12% n/a
30% n/a
24% n/a
(32)% 2%
n/a
31%
21%
n/a
12%
4%
16%
4%
52%
n/a
52%
52%
19%
17%
45%
n/a
n/a
n/a
n/a
27%
19%
34%
30%
23%
(52)%
9%
27%
59%
n/a
59%
59%
nauticus
robotics
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