AquaBounty Technologies Announces Second Quarter 2025 Financial Results

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]