Aqua Metals posts FY2023 net loss of $23.9M, advances Sierra ARC campus

Aqua Metals, Inc.

Net loss of $23.9M ($0.25/share) vs $15.4M ($0.20) in 2022; adjusted net loss $19.1M ($0.20).
Revenue not material; company in limited pilot production throughout 2023.
Cash and equivalents $16.5M at Dec 31, 2023; cash used in ops $3.2M for year.
Phase 1 of Sierra ARC on track to commission this summer, targeting ~$30M annual revenue at current metals prices.
Executed offtake agreement with 6K Energy; secured $25M equity from Yulho Co., Ltd.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Aqua Metals, Inc. reported the full-year ended December 31, 2023 results: net income $23.9 million, EPS $(0.25) per basic and diluted share.

Period: the full-year ended December 31, 2023
Net income: $23.9 million
EPS: $(0.25) per basic and diluted share
Result: reported results

Exact text from the filing

The net loss for 2023 was $23.9 million, or $(0.25) per basic and diluted share, compared to a net loss of $15.4 million, or $(0.20) per basic and diluted share, for 2022.

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Aqua Metals, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-009609

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