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374Water (SCWO) investor relations material
374Water Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Focused on transforming waste management with proprietary AirSCWO technology, targeting the $450B+ market and emphasizing sustainable solutions for hazardous and non-hazardous waste, with regulatory changes driving demand, especially for PFAS destruction.
Achieved over 99.99% destruction of PFAS and other contaminants, securing contracts and expanding into federal, municipal, and industrial markets, including key milestones in Orlando and with the DoD.
Launched waste destruction services, signed key agreements, and advanced multiple projects, including with the University of North Carolina, Crystal Clean, and Clean Earth.
Strengthened leadership with new board members and executive appointments, bringing significant industry expertise.
Positioned for strong growth with a diversified commercial model, robust pipeline, and flexible go-to-market strategy including capital sales, leases, and services.
Financial highlights
Q2 2025 revenue was $600,000, up from $37,000 in Q2 2024; six-month revenue rose to $1.14M from $352,099 year-over-year.
Net loss for Q2 2025 was $4.6M, and for the six months ended June 30, 2025, was $8.28M, both higher year-over-year.
Operating expenses increased 45–69% year-over-year, mainly due to higher staffing, compensation, and expanded operations.
Cash and equivalents at June 30, 2025, were $2.1M, down from $10.7M at year-end 2024.
Gross margin improved to (12%) for the six months ended June 30, 2025, from (88%) in the prior year period.
Outlook and guidance
Maintains 2025 revenue targets set in January, with line of sight to $2M–$6M in revenue for the year and projects $250M–$500M in annual revenues within five years, subject to significant assumptions and risks.
Management expects continued losses and negative cash flows for the foreseeable future and will require additional capital to fund operations.
Plans to manufacture and deploy more mobile systems in 2026 and expand into hazardous waste destruction with higher tipping fees.
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