Aqua Metals reports Q2 2026: $4.48M net loss, $4.74M cash on hand

Aqua Metals reported results for the quarter ended June 30, 2026, posting a net loss of $4.48 million for the three months and $8.43 million year-to-date. The company held $4.74 million in cash and cash equivalents as of June 30, 2026, and continued pilot operations with over 5,000 cumulative opera…

Aqua Metals reported results for the quarter ended June 30, 2026, posting a net loss of $4.48 million for the three months and $8.43 million year-to-date. The company held $4.74 million in cash and cash equivalents as of June 30, 2026, and continued pilot operations with over 5,000 cumulative operating hours at its Innovation Center and demonstration plant. Management outlined a phased commercialization plan for its Headwaters ARC battery recycling campus focused on staged preprocessing followed by AquaRefining deployment.

Financial Highlights

Net loss: $4.48 million for the three months ended June 30, 2026; $8.43 million for the six months ended June 30, 2026.
Operating expense (total): $4.59 million for Q2 2026 and $8.73 million for the six months ended June 30, 2026.
Cash and cash equivalents: $4.74 million as of June 30, 2026 (down from $10.81 million at December 31, 2025).
Total assets: $12.62 million as of June 30, 2026 (compared with $19.71 million at December 31, 2025).
Weighted average shares outstanding, basic and diluted: 3,408,273 for the three months ended June 30, 2026.

Business Highlights

Commercialization strategy: Announced a phased Headwaters ARC plan — Phase 1 to deploy commercially proven mechanical preprocessing for LFP feedstocks to recover copper, aluminum and high-specification black mass; Phase 2 to integrate AquaRefining to produce battery-grade lithium carbonate, iron phosphate and graphite.
Site progress: Advanced to final site-specific diligence and negotiations for a Midwest development opportunity including an existing ~150,000 sq. ft. facility and ~50+ acres near multiple LFP gigafactories; expect development path announcement pending diligence, negotiations, financing and approvals.
Processing and equipment: Progressed Phase 1 processing configuration and evaluation of preprocessing equipment partners with multiple commercial systems operating at industrial scale; near-term announcement of selected Phase 1 equipment and strategic processing partner expected.
Technology validation: Continued operations at the Innovation Center and demonstration plant with more than 5,000 cumulative operating hours to validate process flows, support Headwaters ARC engineering and advance battery-grade product development; independently confirmed recovery of battery-grade lithium carbonate from LFP and NMC feedstocks.
Commercial and capital engagement: Expanded discussions with feedstock suppliers, logistics partners and offtake counterparties; advanced project and equipment financing, third-party real estate structures and engaged Newmark’s Advanced Manufacturing Practice Group as advisor.

Original SEC Filing:

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