374Water
Develops AirSCWO systems and waste-destruction services for organic waste streams.
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Profile
Develops modular AirSCWO systems and provides waste-destruction services for organic waste streams, including PFAS-impacted materials. It serves industrial, municipal and federal markets through a commercialization model that combines equipment deployments with services.
AirSCWO oxidizes organic contaminants and is designed to leave reusable water, inert minerals, vent gas and recoverable energy. The supercritical-water-oxidation process addresses a broad range of organic waste streams, including PFAS-impacted materials. Modular, decentralized systems and Waste Destruction Services target industrial, municipal and federal markets; deployments have included municipal, Department of Defense and Space Force settings.
Operations remain in commercialization and do not yet have a demonstrated full-scale operating history. Progress depends on converting demonstrations and equipment or service deployments into full-scale operations, as well as execution through recent executive transitions.
Company facts
Categories
Key statistics
Year to date +13.7% · Average volume (30d) 55.3K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 17, 2026Q2 FY26 | — | −$0.15 | — | — | $2.3M | — | −1.60% |
| Aug 14, 2026Q2 FY26 | — | −$0.15 | — | — | $2.3M | — | −1.60% |
| Aug 12, 2026Q2 FY26 | — | — | — | — | $2.2M | — | 0.00% |
| May 14, 2026Q1 FY26 | — | −$0.26 | — | — | $551.2K | — | −1.31% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $543.1K | $595.0K | $760.4K | −$1.7M | $551.2K | $2.3M | |
| Gross profit | $138.3K | −$276.4K | $212.6K | −$2.4M | −$2.4M | $2.0M | |
| Operating income | −$3.8M | −$4.6M | −$4.4M | −$8.4M | −$4.6M | −$1.6M | |
| Net income | −$3.7M | −$4.6M | −$4.3M | −$8.3M | −$4.6M | −$2.7M | |
| Diluted EPS | −$0.26 | −$0.32 | −$0.30 | −$0.55 | −$0.26 | −$0.15 | |
| Gross margin | 25.5% | -46.5% | 28.0% | — | -432.2% | 87.7% | |
| Operating margin | -697.0% | -779.5% | -573.5% | — | -834.3% | -71.7% |
Fiscal years (4-quarter sums)FY21 $49.1K · FY22 $3.0M · FY23 $744.0K · FY24 $445.4K · FY25 $215.0K
Balance sheet, Jun 30, 2026Cash & short-term investments $1.8M · Total debt $4.1M · Total assets $13.0M · Shareholders' equity $3.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 17.50M · Float 11.23M · 64.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Nagar Yaacov · 10 percent owner | 1.77M | 10.12% | Form 4 | Apr 30, 2026 |
| Vanguard Capital Management LLC | 322.8K | 1.84% | 13F | May 15, 2026 |
| Captrust Financial Advisors | 206.7K | 1.18% | 13F | May 15, 2026 |
| Stephen H. McKnight · director | 191.5K | 1.09% | Form 4 | Feb 27, 2026 |
| Hamilton Lane Advisors LLC | 160.2K | 0.92% | 13F | Apr 8, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 12, 2026 | Brad Ian Meyers | officer: Chief Operating Officer | −9,831 | $2.33 |
| Jun 11, 2026 | Brad Ian Meyers | officer: Chief Operating Officer | −9,000 | $2.46 |
| Dec 16, 2025 | Kline Russell | officer: Chief Financial Officer | +20,000 | $0.2200 |
| Dec 16, 2025 | Stephen J. Jones | director, officer: Interim CEO | +450,000 | $0.2311 |
| Oct 23, 2025 | Yaacov Nagar | 10 percent owner | −473,211 | $0.4340 |
Peers
- Clean Harbors
High-temperature PFAS destruction for municipal, federal and industrial waste
- Xylem
Municipal and industrial PFAS water treatment with mobile systems
- Perma-Fix Environmental Services
Chemical PFAS destruction for concentrated liquid waste streams
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| 374Water | $2.73 | −3.19% | $48.8M | — | — | 25.8 | +280.2% |
| Clean Harbors | $310.71 | +0.02% | $16.40B | 37.7 | 31.0 | 2.6 | +12.0% |
| Xylem | $112.64 | +1.19% | $25.99B | 26.5 | 18.9 | 2.8 | +1.5% |
| Perma-Fix Environmental Services | $18.12 | −0.06% | $384.2M | — | — | 6.7 | −11.7% |
| Median | 32.1 | 24.9 | 2.8 | +1.5% |