374Water Reports Second Quarter 2025 Financial Results

Core Viewpoint - 374Water Inc. is experiencing strong momentum in its AirSCWO technology deployments, particularly in waste destruction projects, which are expected to drive future growth and operational success [2][6]. Operational Highlights - The company initiated a biosolids destruction project in Orlando, which is anticipated to expand in scope upon successful completion [2]. - Progress was made in manufacturing the AS6 System for deployment to Orange County Sanitation in the latter half of 2025 [2]. - An AS6 System was successfully delivered to Clean Earth's facility in Detroit as part of a Department of Defense project aimed at PFAS waste destruction [3]. - The company deployed its technology in a project at Colorado School of Mines, focusing on PFAS waste destruction solutions [4]. - The first phase of a biosolids destruction demonstration in Orlando was completed, achieving non-detectable PFAS levels in effluent [7]. Financial Summary - For Q2 2025, revenue reached $600,000, a significant increase from $37,000 in the same period last year, primarily driven by waste destruction services and equipment manufacturing [9]. - Operating expenses rose by 45% to $4.4 million, attributed to increased compensation and administrative costs [9]. - The net loss for Q2 2025 was $4.6 million, compared to $2.9 million in the prior year [9]. - Cash and cash equivalents decreased to $2.1 million from $10.7 million at the end of 2024, with working capital also declining [11]. Strategic Developments - The company signed a Waste Destruction Services term sheet with a leading environmental solutions provider to enhance its operational capabilities [10]. - New board appointments include Stephen Jones and James Pawloski, who bring extensive industry experience to support the company's growth [5]. Future Outlook - The company anticipates completing the manufacturing of an AS1 system and launching initial Waste Destruction Services operations in the second half of 2025 [6]. - Continued advancements in the AirSCWO technology are expected to generate demand across municipal, federal, and industrial waste destruction markets [6].