Aqua Metals Inc. ( (AQMS) ) has released its Q3 earnings. Here is a breakdown of the information Aqua Metals Inc. presented to its investors.
Aqua Metals Inc. is a company specializing in clean, water-based recycling technologies for lead and lithium-ion batteries, utilizing its patented AquaRefining process to achieve high purity and minimal waste. In the latest earnings report, Aqua Metals reported a significant net loss of $17.1 million for the nine months ending September 30, 2024, compared to a $13.9 million loss in the same period last year. Key financial metrics include a decrease in cash and cash equivalents to $2.95 million from $16.52 million at the end of 2023, and total assets declined to $28.48 million from $33.6 million. Aqua Metals faces a challenging liquidity situation with current liabilities standing at $7.1 million and an accumulated deficit of $240.3 million. The company has a strategic focus on demonstrating its non-polluting AquaRefining technology for lithium-ion batteries while continuing to seek partnerships and licensing opportunities in the lead battery market. Given its current financial position, Aqua Metals plans to raise additional capital to sustain operations and continue its innovative recycling efforts, although the future availability of such resources remains uncertain.
