Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
374Water Inc. reported quarter ended September 30, 2022 results: revenue $0.9 million, net income $(912,826), EPS $(0.01).
- Period
- quarter ended September 30, 2022
- Revenue
- $0.9 million
- Net income
- $(912,826)
- EPS
- $(0.01)
- Result
- reported results
Exact text from the filing
Revenue for the third quarter of 2022 was $0.9 million compared to $19,000 for the same quarter of 2021, an increase of 4,756%. The increase in revenue during 2022 was primarily as a result of recognizing a portion of the revenue associated with the sale of our first AirSCWOTM system. 1 General and administrative expenses were $387,018 in the third quarter of 2022, compared to $143,147 in the third quarter of 2022. The change in the quarter is primarily associated with our increased insurance costs, marketing and business development expenses, dues and subscriptions, and stock-based compensation expenses. Research and development expenses were $118,253 in the third quarter of 2022, compared to $115,936 in the third quarter of 2021. The change in the quarter is primarily associated with the increase in engineering expenses attributed to the design of the AirSCWOTM 30 - which has a capacity of 30 wet tonne / day, a 5x scale up of the AirSCWOTM 6 system. Net loss was $(912,826), or $(0.01
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