Quarterly ResultMay 15, 2026, 08:22 AM
AirJoule Technologies Q1 Net Loss $(49.8M) on JV Impairments
AI Summary
AirJoule Technologies Corp. reported a significant net loss of $(49.8) million for the first quarter of 2026, a sharp decline from a net income of $14.9 million in the prior-year quarter. This loss was primarily driven by a substantial equity loss of $(63.1) million from its investment in AirJoule, LLC, which included $110.3 million in-process R&D impairment and $76.1 million goodwill impairment charges. Despite the losses, the company bolstered its liquidity through a public offering in January 2026, raising $22.1 million in net proceeds, increasing cash to $31.1 million.
Key Highlights
- AirJoule Technologies reported a net loss of $(49.8) million for Q1 2026, compared to net income of $14.9 million in Q1 2025.
- Basic net loss per share was $(0.74) in Q1 2026, down from basic net income per share of $0.27 in Q1 2025.
- Equity loss from investment in AirJoule, LLC significantly increased to $(63.1) million from $(2.2) million year-over-year.
- AirJoule, LLC recorded $110.3 million in-process R&D impairment and $76.1 million goodwill impairment charges.
- The company completed a public offering on January 15, 2026, issuing 7.1 million shares and raising $22.1 million in net proceeds.
- Cash, cash equivalents, and restricted cash increased to $31.1 million as of March 31, 2026, from $21.8 million at year-end 2025.
- Total assets decreased to $296.5 million as of March 31, 2026, from $340.6 million as of December 31, 2025.
- An additional $10.0 million in capital contributions was made to the AirJoule JV during Q1 2026.
Price Impact
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