Key Highlights

  • Second quarter Revenue reached USD 2.26 million, up roughly 280% from about USD 0.6 million a year earlier, with a gross Margin of 87% compared with a gross Deficit in 2025.
  • The second quarter net loss narrowed to USD 2.7 million, or USD 0.15 per share, from USD 4.6 million, or USD 0.32 per share, while the operating loss was USD 1.6 million.
  • Cash and equivalents totalled USD 1.8 million on June 30, 2026, and operating cash use for the first half fell to USD 2.3 million from USD 7.6 million.
  • Roughly USD 2.6 million has yet to be billed on the Orange County Sanitation District job, billing that follows milestone completion, and AirSCWO delivery is slated for October 2026 after a successful factory acceptance test.

Expectations for the Next Report and the Lack of Formal Guidance at 374Water Inc. (NASDAQ:SCWO)

374Water Inc. (NASDAQ:SCWO) is based in Morrisville, North Carolina, and its AirSCWO supercritical water oxidation units destroy PFAS and other difficult waste streams. Third quarter 2026 figures are due on Monday, November 16, 2026. With no numeric revenue or Earnings outlook from management, second quarter numbers form the baseline, and first-half revenue reached USD 2.8 million versus about USD 1.1 million a year earlier. Attention will fall on whether the Orange County Sanitation District work and the Olathe, Kansas deployment turn into sales.

Gross Profit Swing and Cost Cuts in the Second Quarter at 374Water Inc. (NASDAQ:SCWO)

Gross profit at 374Water Inc. (NASDAQ:SCWO) reached USD 1.98 million for the quarter, an 87% margin, versus a gross deficit of roughly USD 0.3 million (about -46%) in the second quarter of 2025. Operating expenses landed at USD 3.6 million, down from USD 4.3 million, and management cited annualised cost reductions near USD 3.2 million. The net loss shrank 41% on a calculated basis to USD 2.7 million. Chief Executive Danny Bogar described the Factory Acceptance Test for the OC San system as a major milestone and said AirSCWO is positioned for the growing biosolids issue. The Olathe project is a contracted USD 4.8 million job, while St. Cloud is valued at roughly USD 600 thousand.

Runway Math and Operating Cash Use for 374Water Inc. (NASDAQ:SCWO)

374Water (NASDAQ:SCWO) held USD 1.8 million of cash and equivalents on June 30, 2026, against first-half operating cash use of USD 2.3 million. On a calculated basis that works out to about USD 0.38 million a month, or roughly 4.7 months at the current pace. Cash consumption, though, has narrowed dramatically from the USD 7.6 million recorded in the first half of 2025. The risks include reliance on a few large projects, invoicing tied to milestones, the need to raise more Capital and the timing of deliveries.

Where Things Stand

374Water Inc. (NASDAQ:SCWO) enters its November 16, 2026 release off a quarter in which unit Economics improved at a striking pace. Sales of USD 2.26 million grew roughly 280%, gross margin hit 87%, and the net loss narrowed to USD 2.7 million from USD 4.6 million, while the operating loss sat at USD 1.6 million. Liquidity remains tight: cash and equivalents were USD 1.8 million at June 30, 2026, and operations used USD 2.3 million in the first half. An October 2026 handover to the Orange County Sanitation District, with roughly USD 2.6 million still awaiting invoice, is the next event likely to shape third quarter revenue, and cash conversion from it will matter to 374Water (NASDAQ:SCWO) holders.