UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________ Form 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or For the transition period from _____________________ to _____________________ Commission File Number: 001-36426 ____________ AquaBounty Technologies, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delawa ...

AquaBounty Technologies Announces Second Quarter 2025 Financial Results HARVARD, Mass., August 5, 2025 –AquaBounty Technologies, Inc. (NASDAQ: AQB) ("AquaBounty" or the "Company"), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced the Company's financial results for the second quarter and six months ended June 30, 2025. Second Quarter 2025 Highlights "During the second quarter, we continued to sell available Ohio Equipment Assets to generate ca ...

Core Insights - AquaBounty Technologies, Inc. reported a net loss of $3.4 million for Q2 2025, a significant reduction from a net loss of $50.5 million in Q2 2024, indicating improved financial performance [6] - The company generated $2.4 million in net proceeds from the sale of certain Ohio Equipment Assets, which is part of its strategy to enhance liquidity and explore strategic alternatives for its Ohio Farm Project [3][6] - As of June 30, 2025, AquaBounty's cash and cash equivalents increased to $730 thousand from $230 thousand at the end of 2024, reflecting improved cash management [6][8] Financial Performance - Total costs and expenses for Q2 2025 were $3.29 million, down from $29.56 million in Q2 2024, showcasing a substantial decrease in operational costs [10] - The company reported an operating loss of $3.29 million for Q2 2025 compared to an operating loss of $29.56 million for the same period in the previous year [10] - The basic and diluted net loss per share for Q2 2025 was $0.87, a decrease from $13.08 in Q2 2024, indicating a reduction in losses on a per-share basis [10] Balance Sheet Overview - Total assets decreased to $26.65 million as of June 30, 2025, down from $34.06 million at the end of 2024, primarily due to the sale of assets and ongoing operational challenges [8] - Current liabilities were reported at $13.03 million, a decrease from $16.20 million at the end of 2024, reflecting improved management of short-term obligations [8] - Stockholders' equity decreased to $13.61 million from $15.84 million, indicating a decline in the company's net worth [8] Cash Flow Analysis - Net cash used in operating activities for the first half of 2025 was $3.91 million, a reduction from $8.74 million in the same period of 2024, suggesting improved cash flow management [11] - The company generated $4.63 million from investing activities, primarily from asset sales, contrasting with a net cash outflow of $1.85 million in the previous year [11] - Cash and cash equivalents at the end of the reporting period were $729.57 thousand, showing a slight increase from $728.34 thousand at the end of the previous year [11]

Exhibit 99.1 AquaBounty Technologies Announces First Quarter 2025 Financial Results HARVARD, Mass., May 15, 2025 –AquaBounty Technologies, Inc. (NASDAQ: AQB) ("AquaBounty" or the "Company"), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced the Company's financial results for the first quarter ended March 31, 2025. First Quarter 2025 Highlights "As stated in our previous announcement, AquaBounty plans to continue to work with our investment ban ...

Core Insights - AquaBounty Technologies, Inc. reported a net income of $401 thousand for Q1 2025, a significant improvement compared to a net loss of $11.3 million in Q1 2024, largely due to a non-cash gain of $2 million from loan forgiveness [6][9] - The company has been actively selling assets to improve liquidity, including the sale of Ohio Equipment Assets for $2.3 million and Canadian Farms for $1.9 million, which has provided necessary cash flow to explore strategic alternatives for its Ohio Farm Project [3][6] - As of March 31, 2025, AquaBounty's cash and cash equivalents increased to $1.4 million from $230 thousand at the end of 2024, indicating improved liquidity [6][10] Financial Performance - Total revenues for Q1 2025 were not explicitly stated, but total costs and expenses were reported at $1.26 million, down from $2.53 million in Q1 2024, reflecting cost-cutting measures [9] - The operating loss for Q1 2025 was $1.26 million, a reduction from the previous year's loss of $2.53 million, indicating improved operational efficiency [9] - The company reported a comprehensive income of $1.09 million for Q1 2025, compared to a comprehensive loss of $11.27 million in Q1 2024, showcasing a turnaround in financial health [9] Asset Management - Current assets decreased to $6.72 million as of March 31, 2025, from $11.34 million at the end of 2024, primarily due to the sale of assets [8] - Total liabilities decreased significantly to $12.46 million from $18.22 million, reflecting the impact of asset sales and improved cash management [8] - Stockholders' equity increased to $16.97 million from $15.84 million, indicating a strengthening balance sheet [8] Strategic Initiatives - The company is exploring strategic alternatives for its Ohio Farm Project, which is currently partially constructed, and is working with investment bankers to assess options [3] - AquaBounty aims to keep stakeholders informed about its progress in asset sales and strategic initiatives, emphasizing transparency in its operations [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________ Form 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________ to _____________________ Commission File Number: 001-36426 ____________ AquaBounty Technologies, Inc. (Exact name of registrant as spe ...

Financial Performance - The company recorded impairment charges totaling $129.8 million in 2024, including $22.5 million for the Indiana Farm and $57.3 million for the Ohio Farm Site[25][26][27]. - Cumulative net losses from incorporation to December 31, 2024, amount to approximately $370 million, with expectations of incurring additional losses in future periods[56]. - The company recorded a net loss of $149.2 million for the year ended December 31, 2024, an increase of 441% compared to the previous year[131]. - The company incurred a net loss of $149.2 million for the year ended December 31, 2024, compared to a net loss of $27.6 million in 2023, reflecting a significant increase in losses[142][143]. - Total costs and expenses for 2024 were $111.44 million, a substantial rise from $13.67 million in 2023, primarily due to a long-lived asset impairment charge of $101.91 million[202]. - The company’s accumulated deficit increased to $369.77 million as of December 31, 2024, compared to $220.58 million in 2023, highlighting ongoing financial challenges[200]. - The basic and diluted net loss per share from continuing operations was $(29.47) in 2024, compared to $(3.60) in 2023, reflecting worsening financial performance[202]. Cash and Liquidity - As of December 31, 2024, the company had only $230 thousand in cash and cash equivalents, raising substantial doubt about its ability to continue as a going concern[56]. - As of March 24, 2025, AquaBounty had an accumulated deficit of $370 million and $557 thousand in cash[118]. - Cash and cash equivalents decreased to $230,362 as of December 31, 2024, down from $9.20 million at the end of 2023[200]. - The company had an accumulated deficit of $370 million as of December 31, 2024, and expects to continue experiencing significant losses in the foreseeable future[138]. - The company currently has all cash and cash equivalents deposited in Citizens Bank, N.A., posing a risk of loss if the financial institution fails[78]. Project Developments - AquaBounty paused construction of the Ohio Farm Project in June 2023 due to rising costs, with total estimated completion costs now between $485 million and $495 million[47][48]. - Construction of the Ohio Farm Project was paused in July 2023 due to rising project costs, and there is uncertainty regarding vendor availability for resuming construction[59]. - The company is seeking additional capital to fund the Ohio Farm Project and has engaged an investment bank to explore funding and strategic alternatives[58]. - The company may face delays in obtaining necessary approvals and permits for the Ohio Farm Project, which could further delay construction and commercialization efforts[61]. - The company sold its Indiana Farm in July 2024 and Canadian Farms in March 2025, designating these as discontinued operations[24]. Strategic Management - AquaBounty engaged an investment bank to explore funding and strategic alternatives for the Ohio Farm Project, requiring approximately $400 million to complete construction[50]. - The company has sold its intellectual property for GE Atlantic salmon as part of its strategic asset management[31]. - The company is exploring strategic alternatives to raise funds, including equity or debt financing, mergers, and asset sales[215]. - The Company is focusing on cost containment to preserve cash and extend its available liquidity[212]. - The Company continues to work with an investment bank to identify optimal paths for realizing the potential of its remaining assets[212]. Regulatory and Compliance - The company received a Nasdaq notice on October 31, 2022, due to its common stock closing bid price being below $1.00 for 30 consecutive business days, with a compliance period until May 1, 2023[82]. - A reverse stock split of 1-for-20 was approved by stockholders on October 12, 2023, and implemented on October 16, 2023, allowing the company to regain compliance with Nasdaq's minimum bid price requirement[83]. - The company has a public float of less than $250 million and annual revenue below $100 million, qualifying it as a "smaller reporting company" under SEC rules[88]. - The company is subject to the regulations of the Public Company Accounting Oversight Board (PCAOB) and must maintain independence in its financial reporting[190]. Cybersecurity - The company has developed a cybersecurity risk management program based on the NIST Cybersecurity Framework to protect its critical systems and information[96]. - The Board of Directors oversees the cybersecurity risk management program and receives periodic updates on cybersecurity risks and incidents[98]. - The company has not identified any material cybersecurity breaches during 2024, indicating effective risk management[97]. Operational Challenges - The company lacks extensive experience in managing large commercial-scale facilities, which may lead to operational challenges and increased costs[69]. - The company is vulnerable to disease outbreaks in salmon farming, which can significantly impact production costs and harvest yields[68]. - Investor concerns regarding the financial services industry could lead to less favorable financing terms, impacting the company's ability to secure necessary funding[77]. Asset Management - The company completed the sale of its Indiana Farm and certain Ohio Equipment Assets for net proceeds of $9.2 million in 2024, and the sale of Canadian operations for $1.9 million in March 2025[148]. - The company plans to continue selling non-core assets and equipment to fund working capital and the construction of its Ohio Farm Project[148][149]. - The company has raised substantial doubt about its ability to continue as a going concern within one year after the issuance of its consolidated financial statements[146][150].

Financial Performance - For the year ended December 31, 2024, product revenue totaled $789 thousand, a year-over-year decrease of 68% compared to $2.5 million in 2023[7] - Net loss for the year ended December 31, 2024 increased to $149.2 million compared to $27.6 million in 2023, including asset impairment charges of $129.8 million[7] - The company reported a comprehensive loss of $149.5 million for the year ended December 31, 2024, compared to $27.4 million in 2023[12] Cash and Assets - Cash, cash equivalents, and restricted cash totaled $230 thousand as of December 31, 2024, down from $9.2 million as of December 31, 2023[7] - Total current assets decreased to $11.3 million in 2024 from $31.0 million in 2023[11] - Total liabilities decreased to $18.2 million in 2024 from $22.5 million in 2023[11] Asset Sales and Proceeds - The company completed the auction of certain Ohio Equipment Assets for net proceeds of $2.2 million on February 11, 2025[4] - The sale of Canadian Farms and Corporate IP generated net proceeds of $1.9 million on March 3, 2025[4] Project Status and Future Plans - Construction activities for the Ohio Farm Site remained on pause throughout 2024, pending new sources of financing[7] - The company plans to continue assessing strategic alternatives for the Ohio Farm Project and marketing available assets to generate cash[4]

Core Insights - AquaBounty Technologies, Inc. reported significant financial challenges for the year ended December 31, 2024, including a substantial net loss and a drastic decrease in product revenue compared to the previous year [3][8]. Financial Performance - Product revenue for 2024 was $789 thousand, a decrease of 68% from $2.5 million in 2023 [8]. - The net loss for 2024 increased to $149.2 million, compared to $27.6 million in 2023, with asset impairment charges of $129.8 million included in this loss [8][12]. - Cash, cash equivalents, and restricted cash totaled $230 thousand as of December 31, 2024, down from $9.2 million at the end of 2023 [8][13]. Operational Developments - The company attempted to raise funds to resume construction at its Ohio Farm Site but was unsuccessful, leading to the sale of non-core assets for liquidity [3][4]. - The Indiana Farm was sold in July 2024, and the Canadian Farms operations were closed in December 2024 [3][8]. - An auction of certain Ohio Equipment Assets yielded net proceeds of $2.2 million in February 2025, and the sale of Canadian Farms and Corporate IP generated $1.9 million in March 2025 [4][8]. Asset and Liability Overview - Total assets decreased from $187.6 million in 2023 to $34.1 million in 2024, reflecting significant asset impairment and the sale of operations [10][11]. - Total liabilities were reported at $18.2 million as of December 31, 2024, compared to $22.5 million in 2023 [11]. Future Outlook - The company plans to continue exploring strategic alternatives for the Ohio Farm Project and will keep stakeholders informed of progress [4][5].

Core Points - AquaBounty Technologies, Inc. has announced the wind down of its hatchery operations in Bay Fortune, which includes workforce reductions and the exit of several senior management members [1][2] - The company has cited insufficient liquidity as the primary reason for the closure, despite efforts to raise capital through the sale of farms and equipment [2] - Key management changes include the resignation of CEO Dave Melbourne and the departure of COO Alejandro Rojas and CPO Melissa Daley due to the elimination of their positions [3] Company Operations - The Bay Fortune facility was AquaBounty's only remaining operating farm, and the wind down will involve culling all remaining fish and significantly reducing personnel over the coming weeks [2] - The company plans to continue working with its investment banker to explore alternatives for its Ohio farm project and will market available assets to generate cash [4] Company Background - AquaBounty Technologies positions itself as a leader in land-based aquaculture, focusing on innovative solutions to address food insecurity and climate change [5]