AquaBounty Q2 net loss $50.5M (incl $44.5M impairment); cash drops to $0.7M; sells Indiana farm

AQUABOUNTY TECHNOLOGIES INC

2024-Q2 EPS reported -$16.00 vs consensus -$1.16 ▼ miss (-1277.5%)

Net loss of $50.5M in Q2 2024 vs $6.5M in Q2 2023; includes $44.5M non-cash impairment on farm assets.
Cash and cash equivalents fell to $0.7M as of June 30, 2024 from $9.2M at Dec 31, 2023.
Completed sale of Indiana farm and certain Ohio equipment on July 26, 2024 for $9.2M net.
Secured $10M bridge loan in April 2024 (repaid July 26); exploring further asset sales.
David F. Melbourne Jr. promoted to CEO effective June 7, 2024; Sylvia Wulf remains non-executive Chair.

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