AQMS Nasdaq· Aqua Metals
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AQMS Nasdaq· Aqua Metals
Earnings report Q3 2023

Aqua Metals Reports No Revenue in Latest Quarter

Segments of revenue

Aqua Metals did not generate any revenue in the latest quarter, both in the three months ended September 30, 2023, and the same period in 2022. The company's operations have been focused on research and development, as well as the build-out of their battery recycling facilities.


Aqua Metals' primary focus during the period was on advancing their AquaRefining processes and developing their Li AquaRefining battery recycling technology. The company has been making improvements to their processes and facilities, which indicates their commitment to innovation and staying at the forefront of the industry. Management comments suggest that Aqua Metals has been rapidly advancing from planning and validation phases to execution and operation of their pilot facility and the build-out of their commercial facility.


The lack of revenue in the latest quarter is a significant weakness for Aqua Metals. The company has not engaged in commercial operations since 2019, and their financial performance has been primarily driven by research and development activities. This lack of revenue generation poses a challenge for Aqua Metals in terms of sustaining their operations and achieving profitability.


Aqua Metals did generate nominal revenue from the sale of lead finished goods, but this revenue was not significant enough to impact the overall financial performance of the company. It is worth noting that Aqua Metals' focus on developing their battery recycling technology and improving their processes indicates their long-term vision and commitment to sustainability.


Aqua Metals reported no revenue in the latest quarter, as their operations have been primarily focused on research and development and the build-out of their battery recycling facilities. While the company's commitment to innovation and sustainability is commendable, the lack of revenue generation poses a significant challenge for Aqua Metals. Investors should closely monitor the company's progress in commercializing their technology and generating revenue in the future.

Source documents

Form 10-Q  filed on Nov 08, 2023
35 pages scanned

Reference data

Company financials Q3 revenue 25k
Analyst estimates Q3 EPS missed by -0.00%
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