374Water Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $215,037 | $445,445 | $743,952 | $3.0M | $48,100 |
| Cost of revenue | $2.6M | $1.4M | $1.9M | $2.7M | $0 |
| Gross profit | -$2.4M | -$912,707 | -$1.1M | $336,501 | $48,100 |
| Research and development | $2.5M | $2.1M | $1.5M | $1.1M | $375,032 |
| Operating expenses | $18.8M | $11.9M | $7.5M | $5.1M | $3.2M |
| Operating income | -$21.1M | -$12.8M | -$8.6M | -$4.8M | -$3.2M |
| Pretax income | -$21.0M | -$12.4M | -$8.1M | -$4.7M | -$3.2M |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$21.0M | -$12.4M | -$8.1M | -$4.7M | -$3.2M |
| Balance Sheet | |||||
| Cash and equivalents | — | $10.7M | $10.4M | $4.0M | $11.1M |
| Current assets | $5.9M | $14.9M | $14.9M | $8.7M | $11.3M |
| Total assets | $11.4M | $19.2M | $16.1M | $9.9M | $12.4M |
| Current liabilities | $4.2M | $3.1M | $1.4M | $1.7M | $86,371 |
| Total liabilities | $4.7M | $3.7M | $1.4M | $1.7M | $86,371 |
| Stockholders' equity | $6.7M | $15.5M | $14.7M | $8.3M | $12.3M |
| Cash Flow Statement | |||||
| Cash from operations | -$14.3M | -$10.6M | -$9.0M | -$4.9M | -$1.8M |
| Depreciation and amortization | $678,656 | $156,002 | $18,098 | $2,447 | $2,447 |
| Stock-based compensation | $3.5M | $1.2M | $925,181 | $610,741 | $204,217 |
| Capital expenditure | $1.9M | $554,942 | $105,990 | $144,567 | $1,190 |
| Free cash flow | -$16.2M | -$11.1M | -$9.1M | -$5.1M | -$1.8M |
| Impairments | — | — | — | — | $0 |
Shares outstanding 17.5M
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.