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Aqua Metals (AQMS)
NASDAQ:AQMS
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Aqua Metals
(NASDAQ:AQMS)
35Underperform
Aqua Metals (AQMS) vs. S&P 500 (SPY)
Market Cap
$13.43M
Dividend YieldN/A
Average Volume (3M)63.14K
Price to Earnings (P/E)―
Beta (1Y)2.02
Revenue Growth-100.00%
EPS Growth24.94%
CountryUS
Employees53
SectorIndustrials
Sector Strength70
IndustryWaste Management
Share Statistics
EPS (TTM)-3.77
Shares Outstanding8,290,601
10 Day Avg. Volume77,818
30 Day Avg. Volume63,142
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)607.63
Price to Cash Flow (P/CF)-1.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$3.00Price Target Upside104.08% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Aqua Metals Business Overview & Revenue Model
Company DescriptionAqua Metals, Inc. (AQMS) is a technology company specializing in sustainable metal recycling. Headquartered in McCarran, Nevada, the company focuses on developing and commercializing its proprietary AquaRefining™ technology, which is designed to recycle lead and other metals in an environmentally friendly manner. Aqua Metals operates in the recycling and clean technology sectors, offering innovative solutions that aim to reduce the environmental impact of traditional smelting processes.
How the Company Makes MoneyAqua Metals generates revenue primarily through the licensing and deployment of its AquaRefining™ technology, which is used by recycling facilities to process lead and other metals in a more sustainable manner. The company earns money by selling equipment and licensing its technology to third-party recyclers, who pay fees based on the amount of material processed using AquaRefining. Additionally, Aqua Metals may generate revenue from partnerships and joint ventures aimed at expanding its technology's reach and application. The company's focus on innovation and sustainability positions it to benefit from increasing regulatory and market demand for greener recycling solutions.
Aqua Metals Financial Statement Overview
Summary
Aqua Metals is under financial stress with negative profitability and significant cash flow challenges. Despite a manageable debt-to-equity ratio, the company faces liquidity risks due to declining equity and assets. Operational inefficiencies and volatile revenue growth further strain financial stability.Income Statement
Aqua Metals shows consistent revenue but struggles with profitability. The TTM gross profit margin is significantly negative at -33920.83%, and the net profit margin is -113075.00%, indicating high operational costs relative to revenue. Revenue growth is volatile with a negative trend, reflecting challenges in generating consistent sales. The EBIT and EBITDA margins further highlight substantial losses, pointing to operational inefficiencies.35
Negative
Balance Sheet
The balance sheet shows moderate financial stability with a TTM debt-to-equity ratio of 0.18, indicating manageable leverage. However, declining equity and total assets suggest potential liquidity concerns. The TTM equity ratio is 73.37%, which is strong, but the declining trend in stockholders' equity and total assets poses a risk.50
Neutral
Cash Flow
Aqua Metals faces substantial cash flow challenges, with negative operating and free cash flows in the TTM. The operating cash flow to net income ratio is 0.63, suggesting inefficiencies in converting earnings to cash. The free cash flow growth is negative, highlighting ongoing difficulties in generating sufficient cash after capital expenditures.30
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 24.00K | 25.00K | 4.00K | 173.00K | 108.00K | 4.87M | Gross Profit |
| -8.14M | -6.26M | -3.96M | -6.84M | -5.37M | -19.93M | EBIT |
| -22.48M | -24.46M | -15.58M | -17.46M | -15.39M | -40.79M | EBITDA |
| -25.41M | -22.05M | -14.24M | -16.85M | -21.68M | -37.69M | Net Income Common Stockholders |
| -27.14M | -23.94M | -15.43M | -18.19M | -25.76M | -44.80M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 3.69M | 16.52M | 7.08M | 8.14M | 6.53M | 7.58M | Total Assets |
| 5.21M | 33.60M | 33.50M | 33.27M | 35.14M | 69.45M | Total Debt |
| 5.32M | 3.23M | 6.48M | 718.00K | 1.19M | 10.11M | Net Debt |
| 1.63M | -13.29M | -601.00K | -7.42M | -5.34M | 2.54M | Total Liabilities |
| 10.88M | 7.54M | 12.59M | 5.74M | 4.00M | 19.86M | Stockholders Equity |
| -5.67M | 26.06M | 20.92M | 27.53M | 31.14M | 49.59M |
| Cash Flow | Free Cash Flow | ||||
| -32.00M | -13.08M | -14.92M | -9.96M | -14.39M | -38.25M | Operating Cash Flow |
| -17.05M | -3.19M | -10.15M | -7.62M | -11.03M | -25.18M | Investing Cash Flow |
| -14.58M | -9.81M | -3.42M | -2.23M | 6.63M | -10.57M | Financing Cash Flow |
| 8.98M | 22.45M | 12.51M | 11.45M | 3.35M | 22.43M |
Aqua Metals Technical Analysis
Negative
1.47
Price Trends
1.96
Negative
2.04
Negative
3.27
Negative
Market Momentum
-0.01
Positive
43.66
Neutral
34.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AQMS, the sentiment is Negative. The current price of 1.47 is below the 20-day moving average (MA) of 1.87, below the 50-day MA of 1.96, and below the 200-day MA of 3.27, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 43.66 is Neutral, neither overbought nor oversold. The STOCH value of 34.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AQMS.
Aqua Metals Risk Analysis
Aqua Metals disclosed 28 risk factors in its most recent earnings report. Aqua Metals reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Aqua Metals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $7.50B | 12.89 | 3.19% | 3.38% | 3.64% | -14.27% | |
58 Neutral | $131.03M | ― | -169.61% | ― | 0.60% | -115.20% | |
53 Neutral | $86.68M | ― | -5.04% | ― | 68.63% | 27.27% | |
45 Neutral | $485.45M | ― | -38.88% | ― | -30.80% | -84.41% | |
45 Neutral | $85.42M | ― | -18.96% | ― | 11.09% | 0.41% | |
43 Neutral | $1.08B | ― | -90.88% | ― | -29.45% | -10.79% | |
35 Underperform | $13.43M | ― | -116.08% | ― | -100.00% | 24.94% |
* Industrials Sector Average
Performance Comparison
AQMS
Aqua Metals
1.47
-9.62
-86.74%
FCEL
Fuelcell Energy
4.10
-28.90
-87.58%
KOPN
Kopin
0.86
-0.63
-42.28%
PLUG
Plug Power
1.13
-1.76
-60.90%
LQMT
Liquidmetal Technologies
0.09
0.02
28.57%
TSE:BLDP
Ballard Power Systems
1.66
-2.41
-59.21%
Aqua Metals Earnings Call Summary
Earnings Call Date: Mar 31, 2025 | % Change Since: -21.39% | Next Earnings Date: May 1, 2025
Earnings Call Sentiment Neutral
Aqua Metals demonstrated significant technological and strategic advancements with successful pilot operations, reduced CO2 emissions, and strategic partnerships. However, financial challenges, including delays in the Sierra ARC facility completion and increased net loss, present hurdles. The company is actively pursuing financing and adapting its strategy to align with market conditions.Highlights
Successful Pilot Plant Operations
Aqua Metals successfully operated its Lithium AquaRefining pilot plant for over a year, including a three-week continuous 24/7 endurance run in December, producing over 600 pounds of battery-grade lithium carbonate with purity levels exceeding 99.5%.
Significant CO2 Reduction
The AquaRefining process produces 83% less CO2 than traditional hydrometallurgical recycling methods, highlighting its environmental benefits.
Strategic Partnerships and Agreements
Aqua Metals formed a partnership with 6K Energy to provide up to 30% of recycled content for 6K's domestic cathode manufacturing facility, advancing the closed-loop battery material supply chain.
Strong Financial Positioning
The company raised approximately $50 million during the year, with a significant portion from insider support, and secured a tax abatement from the State of Nevada.
Recognition and Awards
Aqua Metals was selected by the US Department of Energy for the ACME-REVIVE program and was recognized as a Top Project of 2024 by Environment + Energy Leader.
Lowlights
Sierra ARC Facility Completion Delays
The completion of the Sierra ARC facility remains on hold pending further financing, delaying potential revenue generation.
Impairment Costs
Aqua Metals recognized an impairment of approximately $2.6 million related to vendor equipment deposits for equipment no longer needed under the revised plan.
Increased Net Loss
The company reported a net loss of approximately $24.6 million for the year, compared to a net loss of $24 million in the previous year.
Company Guidance
During the Aqua Metals Q4 and full-year 2024 earnings call, the management provided several key metrics and strategic updates. The company reported a net loss of approximately $24.6 million for the fiscal year, with an associated loss per share of $3.83. Despite a challenging macroeconomic environment, Aqua Metals successfully operated its Lithium AquaRefining pilot plant continuously for over a year, achieving a notable milestone by producing more than 600 pounds of battery-grade lithium carbonate with purity levels exceeding 99.5% during a December endurance run. The company raised approximately $50 million in financing, with over two-thirds coming from Aqua Metals' leadership and board. Moreover, Aqua Metals secured an up to $2.2 million tax abatement from the State of Nevada and was selected for the US Department of Energy's ACME-REVIVE program. Looking forward, the company aims to advance colocation and licensing opportunities and pursue strategic funding to support its growth initiatives, including scaling operations to process up to 7,000 tons of black mass annually.Aqua Metals Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Aqua Metals Strengthens Board with New Appointments
Positive
Feb 7, 2025
On February 3, 2025, Aqua Metals appointed Steve Henderson and Eric Gangloff to its Board of Directors. With extensive experience in automotive, specialty chemicals, manufacturing, and finance, Henderson and Gangloff bring strategic expertise to support the company’s growth and commercialization strategy. Their addition is expected to aid Aqua Metals in advancing its AquaRefining™ process, strengthening industry reach, securing financing, and expanding commercial partnerships to enhance its position in the battery recycling and critical minerals production market.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.