secwatch.observer — SEC 8-K summary
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Issuer:     374Water Inc. (SCWO)
CIK:        0000933972
Form:       8-K
Filed at:   2024-03-29T23:59:59+00:00
Accession:  0001654954-24-003956
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

374Water FY2023 revenue falls 75% to $744K; operating expenses rise to $7.5M
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- Revenue of $744K for FY2023, down 75% from $3.02M in FY2022, as focus shifted to deployment of sold unit and customer relationships.
- Total operating expenses increased 48% to $7.5M due to higher compensation and G&A, including workforce growth and marketing.
- Working capital at Dec 31, 2023 was $13.5M, up from $7.1M YoY, providing sufficient capital for operations.
- New contract with City of Orlando for AirSCWO 6 deployment at Iron Bridge facility: 400 metric tons sludge/month, $812K fee, expected H2 2024.
- Collaboration with DIU, Arcadis, Clean Earth to advance PFAS remediation for defense sites; Orange County Sanitation deployment still expected H1 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933972/000165495424003956/0001654954-24-003956-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933972/000165495424003956/scwo_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-003956

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer