AquaBounty Q2 revenue down 26% to $788k; net loss widens to $6.5M; pauses Ohio farm

AQUABOUNTY TECHNOLOGIES INC

2023-Q2 EPS reported -$0.18 revenue$1,186,276

Q2 product revenue $788k, down 26% YoY from $1.1M; net loss $6.5M vs $5.5M.
Cash and restricted cash fell to $43.8M from $102.6M at Dec 31, 2022.
Paused construction of Pioneer, Ohio farm due to substantial cost increase; evaluating options.
Indiana farm achieved highest quarterly output; demand exceeds supply.
Expanding broodstock/egg production at PEI farm; exploring new species and territories.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AQUABOUNTY TECHNOLOGIES INC reported the quarter ended June 30, 2023 results: revenue $788 thousand, net income $6.5 million.

Period: the quarter ended June 30, 2023
Revenue: $788 thousand
Net income: $6.5 million
Result: reported results

Exact text from the filing

Generated $788 thousand in product revenue in the second quarter, a year-over-year decrease of 26% as compared to $1.1 million in the second quarter of 2022. · Net loss in the second quarter of 2023 was $6.5 million, as compared to $5.5 million in the second quarter of 2022.

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Source: SEC EDGAR

accession 0001603978-23-000034

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