Quarterly ResultMay 14, 2026, 04:42 PM
374Water Q1 Net Loss $(4.57)M; Cash $447K; Going Concern Doubt
AI Summary
374Water reported a net loss of $(4,571,623) for the first quarter of 2026, an increase from $(3,698,414) in the prior year, despite a slight revenue increase to $551,155. The company's cash and cash equivalents significantly decreased to $447,453, and management raised substantial doubt about its ability to continue as a going concern. Key developments include securing a $4.88 million purchase order for an AirSCWO 6 unit and issuing $800,000 in convertible notes.
Key Highlights
- Net Loss: $(4,571,623) for Q1 2026, an increase from $(3,698,414) in Q1 2025.
- Revenue: $551,155 for Q1 2026, a slight increase from $543,100 in Q1 2025.
- Cash and Cash Equivalents: $447,453 at March 31, 2026, down from $3,198,682 at Dec 31, 2025.
- Gross Margin: Increased to $348,412 in Q1 2026 from $138,283 in Q1 2025.
- Olathe Contract: Secured a $4,880,000 purchase order for an AirSCWO 6 unit.
- Convertible Notes: Issued $800,000 in 10% convertible notes in March 2026.
- Long-Term Liabilities: Increased to $3,698,787 at March 31, 2026, from $496,562 at Dec 31, 2025.
- Going Concern: Management expressed substantial doubt about the company's ability to continue operations.