AQMS on Nasdaq
Aqua Metals, Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2024
Financial statements
Every line of the income statement in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Plant operations | $2.4M | $7.2M |
| Research and development cost | $1.3M | $1.6M |
| Impairment and loss on disposal of property, plant and equipment | $9.1M | $3.1M |
| General and administrative expense | $10.5M | $12.0M |
| Total operating expense | $23.3M | $23.8M |
| Loss from operations | -$23.3M | -$23.8M |
| Interest expense | -$667.0K | -$574.0K |
| Interest and Other Income | $913.0K | $376.0K |
| Loss on extinguishment of debt | -$825.0K | $0 |
| Change in fair value of warrant liability | $1.3M | -$507.0K |
| Total other income (expense), net | $687.0K | -$705.0K |
| Loss before income tax expense | -$22.6M | -$24.6M |
| Income tax expense | -$2.0K | -$3.0K |
| Net loss | -$22.6M | -$24.6M |
| Weighted average shares outstanding, basic and diluted (in shares) | 1.5M shares | 642.0K shares |
| Basic and diluted net loss per share (in dollars per share) | -$15.15 | -$38.25 |
Every line of the balance sheet in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2025-10-31 | 2024-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $10.8M | $4.1M | |
| Inventory | $244.0K | $251.0K | |
| Prepaid expenses and other current assets | $282.0K | $214.0K | |
| Total current assets | $13.4M | $4.6M | |
| Property, plant and equipment, net | $5.8M | $16.5M | |
| Intellectual property, net | $76.0K | $146.0K | |
| Other assets | $462.0K | $5.1M | |
| Total non-current assets | $6.3M | $21.7M | |
| Total assets | $19.7M | $26.4M | |
| Accounts payable | $547.0K | $1.2M | |
| Accrued Expenses | $3.6M | $3.1M | |
| Operating and Finance Lease Liability, Current | $311.0K | $289.0K | |
| Notes payable, current portion | $0 | $3.5M | |
| Total current liabilities | $4.4M | $8.2M | |
| Operating and Finance Lease, Liability, Noncurrent | $281.0K | $446.0K | |
| Total liabilities | $4.9M | $10.1M | |
| Common stock; $0.001 par value; 300,000,000 shares authorized; 3,004,898 and 2,999,592, shares issued and outstanding as of December 31, 2025, respectively and 776,026 and 773,084 shares issued and outstanding as of December 31, 2024 | $3.0K | $1.0K | |
| Additional paid-in capital | $285.2M | $264.2M | |
| Accumulated deficit | -$270.4M | -$247.8M | |
| Treasury stock, at cost; common shares: 5,306 and 2,942 as of December 31, 2025 and December 31, 2024, respectively | -$29.0K | -$192.0K | |
| Total stockholders equity | $14.8M | $16.2M | |
| Total liabilities and stockholders equity | $19.7M | $26.4M | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 |
| Common stock, shares authorized (in shares) | 300.0M shares | 300.0M shares | |
| Common stock, shares issued (in shares) | 3.0M shares | 776.0K shares | |
| Common stock, shares outstanding (in shares) | 3.0M shares | 773.1K shares | |
| Treasury Stock, Common, Shares (in shares) | 5.3K shares | 2.9K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | $22.6M | $24.6M |
| Depreciation and ROU asset amortization | $1.1M | $1.1M |
| Amortization of intellectual property | $70.0K | $135.0K |
| Fair value of common stock issued for consulting services | $261.0K | $150.0K |
| Fair value of common stock issued for director fees | $0 | $37.0K |
| Stock-based compensation | $2.3M | $2.7M |
| Change in fair value of warrant liability | -$1.3M | $507.0K |
| Amortization of deferred financing costs | $336.0K | $73.0K |
| Loss on extinguishment of debt | $639.0K | $0 |
| Impairment and loss on disposal of property, plant and equipment | $9.1M | $3.1M |
| Inventory NRV adjustment | $0 | $283.0K |
| Write off of debt issuance costs | $0 | $563.0K |
| Accrued interest expense | $0 | $10.0K |
| Accounts receivable | $0 | $67.0K |
| Inventory | $7.0K | $396.0K |
| Prepaid expenses and other current assets | -$68.0K | -$33.0K |
| Accounts payable | -$261.0K | -$21.0K |
| Accrued expenses | $440.0K | $1.9M |
| Other assets and liabilities | -$216.0K | -$130.0K |
| Net cash used in operating activities | -$10.3M | -$13.6M |
| Purchases of property, plant and equipment | -$425.0K | -$7.9M |
| Proceeds from sale of equipment | $4.4M | $22.0K |
| Proceeds from note receivable - LINICO | $100.0K | $500.0K |
| Proceeds from refund of equipment deposit | $1.1M | $0 |
| Payments for note receivable - LION ENERGY | -$2.1M | $0 |
| Equipment deposits | -$231.0K | -$4.2M |
| Net cash provided by (used in) investing activities | $2.9M | -$11.6M |
| Proceeds from issuance of common stock, net of transaction costs | $11.9M | $7.3M |
| Proceeds from issuance of common stock for exercise of pre-funded warrants | $1.0K | $0 |
| Proceeds from employee stock purchase plan | $0 | $54.0K |
| Payments on note payable | -$4.5M | $0 |
| Principal payments on finance leases | -$39.0K | -$72.0K |
| Cash paid for tax withholdings on RSUs vesting | -$147.0K | -$552.0K |
| Cash paid for reverse split fractional shares | -$2.0K | -$1.0K |
| Debt issuance costs | $0 | -$424.0K |
| Net cash provided by financing activities | $14.1M | $12.8M |
| Net increase (decrease) in cash and cash equivalents | $6.7M | -$12.4M |
| Cash paid for interest | $528.0K | $333.0K |
| Cash paid for income taxes | $2.0K | $3.0K |
| Acquisitions of property, plant and equipment included in accounts payable | $65.0K | $485.0K |
| Acquisitions of property, plant and equipment paid by prior-period deposits | $1.7M | $0 |
Recent filings
- Sep 8, 20268-K
- Aug 26, 20264
- Aug 26, 20264
- Aug 26, 20264
- Aug 26, 20264
- Aug 26, 20264
- Aug 26, 20264
- Aug 21, 20264
- Aug 21, 20264
- Aug 21, 20264
- Aug 21, 20268-K
- Aug 21, 2026S-8
- Jul 30, 20268-K
- Jul 30, 202610-Q
- Jul 8, 2026DEF 14A
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
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