AquaBounty Q3 revenue +12% to $733k, net loss $6.1M; Ohio farm cost estimate $485-495M

AQUABOUNTY TECHNOLOGIES INC

2023-Q3 EPS reported -$4.98 revenue$1,919,409

Product revenue $733k vs $653k in Q3 2022; net loss $6.1M vs $5.4M loss a year ago.
Cash and restricted cash $17.8M at Sept 30, 2023, down from $102.6M at Dec 31, 2022.
Ohio farm total cost estimate raised to $485-495M (previous range lower); ~$140M spent to date.
Entered non-binding MOU with Noble Salmon (Benish Group) for a RAS salmon farm in Georgia.
Management noted market price decline for Atlantic salmon impacted results despite higher farm output.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AQUABOUNTY TECHNOLOGIES INC reported third quarter and nine months ended September 30, 2023 results: revenue $733 thousand, net income Net loss in the third quarter of 2023 was $6.1 million.

Period: third quarter and nine months ended September 30, 2023
Revenue: $733 thousand
Net income: Net loss in the third quarter of 2023 was $6.1 million
Result: reported results

Exact text from the filing

today announced the Company’s financial results for the third quarter and nine months ended September 30, 2023. Third Quarter 2023 Highlights and Recent Developments · Generated $733 thousand in product revenue in the third quarter, a year-over-year increase of 12% as compared to $653 thousand in the third quarter of 2022; · Net loss in the third quarter of 2023 was

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Source: SEC EDGAR

accession 0001603978-23-000058

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