374Water Q2 Revenue Jumps 280% to $2.26M, Gross Margin Hits 87%
SCWO sits 43% above its 52-week low of $1.75.
Summary
374Water reported Q2 2026 revenue of $2.26M (up 280% YoY) with 87% gross margin, and provided full financial statements showing a $2.7M net loss and $1.8M cash balance.
Key Events · Earnings and Guidance · SCWO
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Q2 Revenue Up 280%
Revenue reached $2.26M in Q2 2026, up from $0.6M in Q2 2025, driven by the OC San Factory Acceptance Test.
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Gross Margin Flips to 87%
Gross profit was $1.98M (87% margin) versus a gross deficit of $0.3M (-46% margin) a year ago.
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Net Loss Narrows
Net loss was $2.7M ($0.15/share) compared with $4.6M ($0.32/share) in Q2 2025; operating loss improved to $1.6M from $4.6M.
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Cash Position Tight
Cash and equivalents were $1.8M as of June 30, 2026, with $2.3M cash used in operations for H1 2026.
Analysis · SCWO · Manufacturing
374Water's Q2 results show a sharp improvement: revenue surged 280% year-over-year to $2.26 million, gross margin flipped from -46% to +87%, and operating loss narrowed from $4.6M to $1.6M. The company also disclosed $1.8M in cash and a $2.3M operating cash burn for H1 2026, alongside a going-concern warning from its recent 10-Q. The full financials and operational updates (OC San delivery in October, St. Cloud wrap-up in September, Olathe $4.8M deployment) provide material new detail beyond the preliminary revenue figure released on August 11.
At the time of this filing, SCWO was trading at $2.50 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $44.3M. The 52-week trading range was $1.75 to $10.90. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.