Quarterly ResultMay 14, 2026, 04:02 PM
AirJoule Technologies Q1 Net Loss $(49.8)M; Prime System Build Complete
AI Summary
AirJoule Technologies reported a net loss of $(49.8) million for the first quarter of 2026. Despite the loss, the company announced significant operational progress, including the completion of the first full-scale AirJoule Prime system and the advancement of its AirJoule Core platform with a locked design and two new variants. The company ended the quarter with a strong cash position of $31.1 million, and a combined cash position of $35.0 million with its joint venture, reaffirming its 2026 spend framework and sufficient cash through 2027.
Key Highlights
- Q1 2026 net loss was $(49.8) million.
- Cash, cash equivalents, and restricted cash totaled $31.1 million at quarter-end.
- Combined cash position (including JV) was $35.0 million with no debt.
- First full-scale AirJoule Prime system (~2,000 liters/day) build completed.
- AirJoule Core platform (~250 liters/day) design locked; two variants introduced.
- Core DH system demonstrated up to 40% energy savings in initial performance.
- $10 million capital contributed to the GE Vernova joint venture in Q1.
- Reaffirmed 2026 combined cash spend of approximately $25 million.