374Water Reports First Quarter 2025 Financial Results

Core Insights - 374Water Inc. reported its financial and operational results for Q1 2025, focusing on the commercial rollout of its AirSCWO technology and expanding its waste destruction services [1][2][4] Financial Performance - Revenue for Q1 2025 was $0.5 million, an increase from $0.3 million in the prior year, primarily driven by equipment manufacturing services and full-scale demonstrations [12][20] - Total operating expenses rose 106% to $3.9 million compared to $1.9 million in the previous year, attributed to increased general and administrative expenses, professional fees, and compensation [12][20] - The net loss for Q1 2025 was $3.7 million, compared to a net loss of $2.0 million in the prior year [12][20] Operational Developments - The company is advancing its AirSCWO technology, with significant progress in ruggedizing and optimizing the system, and plans for multiple deployments throughout 2025 [5][6] - A contract was awarded by the State of North Carolina to destroy 1,000 gallons of AFFF containing PFAS, with potential for an additional 29,000 gallons in a subsequent phase [2][4] - The company has appointed new executives, including Raj Melkote as Chief Technology Officer and Stephen Jones to the Board of Directors, to enhance its commercial strategy [3][12] Market Context - The U.S. EPA's recent actions to combat PFAS contamination are expected to create strong demand for 374Water's AirSCWO platform, as companies seek to limit liability and comply with new regulations [4][6] - The company is establishing Waste Destruction Services operations at a partner facility, which will support its commercial rollout [12][6] Upcoming Initiatives - The company anticipates completing various waste destruction demonstrations and launching its AS1 and AS6 units, with plans to accept third-party waste streams [5][12] - Key upcoming events include the completion of a 90-day biosolids destruction demonstration at Orlando's facility and the anticipated Department of Defense project in Detroit [12][6]