374Water Inc.
Business
374Water Inc. is a cleantech and environmental services company developing proprietary supercritical water oxidation (AirSCWO) technology to destroy and mineralize organic waste streams—including sewage sludge, biosolids, hazardous waste, and PFAS—across municipal, federal, and industrial markets. The company offers capital sales of modular and mobile AirSCWO systems (6–10+ tons per day), waste destruction services (WDS) through partnerships with wastewater facilities and treatment disposal facilities, pre- and post-treatment equipment, laboratory testing, and operations & maintenance services. 374Water serves three primary markets: municipal water and wastewater utilities; federal agencies (DoD, DoE, FAA); and industrial sectors (oil & gas, chemicals, pharmaceuticals, battery recycling).
Summary from 10-K filed 2026-03-31
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues | 215,037 | 445,445 | 743,952 | 3 | 48,100 | |
| Cost of revenues | −3 | −1 | −2 | −3 | 0 | |
| Gross Margin | −2 | −912,707 | −1 | 336,501 | 48,100 | |
| Research and development | 3 | 2 | 1 | 1 | 375,032 | |
| Compensation and related expenses | 8 | 5 | 3 | 2 | 0 | |
| Professional fees | 3 | 2 | 508,795 | 768,548 | 343,862 | |
| General and administrative | 5 | 3 | 3 | 2 | 1 | |
| Total Operating Expenses | 19 | 12 | 8 | 5 | 3 | |
| Loss from Operations | −21 | −13 | −9 | −5 | −3 | |
| Interest income | 194,174 | 281,117 | 446,669 | — | — | |
| Interest expense | −41,211 | 0 | — | — | — | |
| Other income | 19,049 | 88,027 | 92,685 | — | 334 | |
| Total Other Income, net | 172,012 | 369,144 | 539,354 | — | — | |
| Net Loss before Income Taxes | −21 | −12 | −8 | −5 | −3 | |
| Provision for Income Taxes | 0 | 0 | 0 | 0 | 0 | |
| Net Loss | −21 | −12 | −8 | −5 | −3 | |
| Net Loss per Share - Basic and Diluted | −1.38 | −0.92 | −0.06 | — | — | |
| Weighted Average Common Shares Outstanding - Basic and Diluted | 15 | 13 | 130 | — | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 3 | 11 | 10 | — | — | |
| Accounts receivable, net of credit allowance | 668,903 | 269,733 | 64,792 | 0 | — | |
| Other accounts receivable | 26,577 | 43,886 | — | — | — | |
| Unbilled accounts receivable | 0 | 2 | 1 | 918,164 | — | |
| Inventory, net | 1 | 2 | 2 | 2 | 0 | |
| Contract assets | 91,100 | 136,651 | 0 | — | — | |
| Prepaid expenses | 395,807 | 431,412 | 581,085 | 153,455 | 218,466 | |
| Total Current Assets | 6 | 15 | 15 | 9 | 11 | |
| Property and equipment, net | 4 | 3 | 230,971 | 143,079 | 959 | |
| Intangible asset, net | 943,224 | 1 | — | — | — | |
| Right-of-use asset, net | 571,741 | 691,014 | — | — | — | |
| Other assets | 202,103 | 20,847 | — | — | — | |
| Total Long-Term Assets | 6 | 4 | 1 | 1 | 1 | |
| Total Assets | 11 | 19 | 16 | 10 | 12 | |
| Accounts payable and accrued expenses | 1 | 906,394 | 572,297 | 1 | 62,981 | |
| Accrued bonuses | 80,000 | 570,000 | — | — | — | |
| Accrued contract loss provision | 2 | 1 | 500,000 | — | — | |
| Accrued legal settlement | 0 | 335,000 | — | — | — | |
| Unearned revenue | 312,905 | 197,683 | — | — | — | |
| Note payable | 8,270 | 0 | — | — | — | |
| Secured promissory note | 630,000 | 0 | — | — | — | |
| Financing liability | 159,342 | 0 | — | — | — | |
| Operating lease liabilities | 119,693 | 101,320 | 0 | — | — | |
| Other liabilities | 23,384 | 17,279 | 36,787 | — | — | |
| Total Current Liabilities | 4 | 3 | 1 | 2 | 86,371 | |
| Unearned revenue, less current portion | 30,000 | 30,000 | — | — | — | |
| Note payable, less current portion | 34,879 | 0 | — | — | — | |
| Operating lease liabilities, less current portion | 431,683 | 551,376 | 0 | — | — | |
| Total Long-term Liabilities | 496,562 | 581,376 | 0 | — | — | |
| Total Liabilities | 5 | 4 | 1 | 2 | 86,371 | |
| Preferred Stock: 50,000,000; 1,000,000 Designated as Convertible Series D preferred shares authorized; par value $0.0001 per share, nil issued and outstanding at December 31, 2025 and 2024, respectively. | 0 | 0 | 0 | 0 | 3 | |
| Common stock: 1,000,000,000 common shares authorized, par value $0.0001 per share, 17,143,771 and 14,130,198 shares outstanding at December 31, 2025 and 2024, respectively | 1,715 | 1,444 | 13,266 | 12,669 | 12,531 | |
| Additional paid-in capital | 57 | 44 | 31 | 16 | 15 | |
| Accumulated deficit | −50 | −28 | −16 | −8 | −3 | |
| Accumulated other income | 2,471 | 2,471 | 2,471 | −19,296 | 0 | |
| Total Stockholders' Equity | 7 | 15 | 15 | 8 | 12 | |
| Total Liabilities & Stockholders' Equity | 11 | 19 | 16 | 10 | 12 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −21 | −12 | −8 | −5 | — | |
| Depreciation and amortization | 752,026 | 226,039 | 85,816 | 67,573 | 46,050 | |
| Non-cash lease expense | 119,273 | 35,450 | — | — | — | |
| Issuance of common stock for services | 290,872 | 383,879 | 71,200 | — | — | |
| Stock-based compensation | 4 | 1 | 925,181 | 610,741 | 204,217 | |
| Gain on legal settlement | 0 | −22,303 | — | — | — | |
| Accrued interest added to secured promissory note | 30,000 | 0 | — | — | — | |
| Inventory reserve | 0 | 50,000 | 0 | — | — | |
| Accounts receivable | −399,170 | −204,941 | −64,792 | 0 | 32,330 | |
| Other accounts receivable | 17,309 | −4,137 | −39,749 | 0 | — | |
| Unbilled accounts receivable | 2 | −158,454 | −576,389 | −918,164 | — | |
| Inventory | 229,581 | −1 | −615,967 | −2 | 0 | |
| Contract assets | 45,551 | −136,651 | — | — | — | |
| Prepaid expenses | 301,110 | 149,673 | −427,630 | — | 14,483 | |
| Other assets | −181,256 | −20,847 | 0 | — | — | |
| Accounts payable and accrued expenses | 448,891 | 215,721 | −877,285 | 1 | −142,512 | |
| Accrued bonuses | −490,000 | 570,000 | 0 | — | −83,094 | |
| Accrued contract loss provision | 600,000 | 500,000 | 500,000 | — | — | |
| Accrued legal settlement | −335,000 | 335,000 | — | — | — | |
| Unearned Revenue | 115,222 | 97,683 | −70,109 | — | — | |
| Other Liabilities | 6,105 | −19,508 | 23,259 | — | — | |
| Operating lease liability | −101,320 | −73,768 | 0 | — | — | |
| Net cash used in Operating activities | −14 | −11 | −9 | −5 | −2 | |
| Purchases of property and equipment | −2 | −554,942 | −105,990 | −144,567 | −1,190 | |
| Increase in intangible assets | 0 | −98,602 | −5,725 | — | — | |
| Net cash used in investing activities | −2 | −653,544 | 2 | −2 | 28,345 | |
| Repayments on note payable | −5,042 | 0 | — | — | — | |
| Repayments on financing liability | −106,163 | 0 | — | — | — | |
| Proceeds from secured promissory note | 600,000 | 0 | — | — | — | |
| Proceeds from the exercise of options | 24,000 | 60,000 | — | — | 42,845 | |
| Gross proceeds from the issuance of common stock | 9 | 12 | 137,500 | 0 | 5 | |
| Issuance costs related to sales of common stock | −404,200 | −902,256 | — | — | — | |
| Net cash provided by financing activities | 9 | 11 | 14 | 25,049 | 13 | |
| Net (decrease) increase in cash | −7 | 206,240 | 6 | −7 | 11 | |
| Cash paid for interest | 0 | 0 | 0 | 0 | 0 | |
| Cash paid for taxes | 0 | 0 | — | — | — | |
| Cashless stock option exercises | 11 | 100 | — | — | — | |
| Equipment purchase in accounts payable | 0 | 118,376 | — | — | — | |
| Initial right-of-use asset and liability | 0 | 726,464 | 0 | — | — | |
| Reclassification of inventory to property and equipment | 0 | 2 | — | — | — | |
| Issuance of restricted common stock | 20 | 0 | — | — | — | |
| Equipment financed with a note payable | 48,191 | 0 | — | — | — | |
| Accrued expense settled with shares of common stock | 105,000 | 0 | — | — | — | |
| Prepaid insurance financed | 265,505 | 0 | — | — | — | |
| Deemed dividend on warrant modification | 573,928 | 0 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is 374Water Inc.'s CIK number?
374Water Inc.'s SEC CIK number is 0000933972 (933972). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find 374Water Inc.'s SEC filings?
All of 374Water Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did 374Water Inc. last report earnings?
374Water Inc. (SCWO) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001654954-26-004906). This is 374Water Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is 374Water Inc.'s most recent earnings 8-K?
374Water Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001654954-26-004906. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View 374Water Inc.'s latest earnings 8-K →
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