Quarterly ResultMay 14, 2026, 04:09 PM
Aqua Metals Q1 Net Loss Narrows to $3.95M; Going Concern Warning
AI Summary
Aqua Metals reported a net loss of $3.95 million for the first quarter of 2026, a significant improvement from the $8.32 million loss in the prior year, primarily due to the absence of a large impairment charge. Despite the reduced loss, the company experienced increased cash used in operating activities and a substantial decrease in cash and cash equivalents. Management issued a going concern warning, citing continuing losses and the need for additional capital, though it continues to utilize its At-the-Market (ATM) offering program.
Key Highlights
- Net loss decreased to $3.95 million in Q1 2026 from $8.32 million in Q1 2025.
- Basic and diluted net loss per share improved to $(1.22) from $(10.27).
- Cash and cash equivalents declined to $6.82 million as of March 31, 2026, from $10.81 million.
- Net cash used in operating activities increased to $3.84 million from $2.75 million.
- Sold 198,780 shares via ATM program for $1.30 million net proceeds; $48.6 million remains available.
- Recorded a $437,000 provision for credit losses related to the Lion Energy note.
- Management issued a going concern warning due to continuing losses and cash requirements.