Financial Statements — SCWO
Balance Sheet
(in millions USD)| Metric | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.78 | 0.45 | 0.93 | 2.15 | 6.88 | 1.96 | 5.08 | 7.94 | 12.80 | 14.60 | 9.15 | 2.41 | 3.13 | 11.24 | 6.85 | 6.30 | 0.03 |
| Short-term Investments | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 5.94 | 6.96 | -- | -- | -- | -- |
| Accounts Receivable | 0.62 | 2.41 | 0.64 | 0.86 | 0.09 | 0.29 | 0.06 | 0.08 | 0.02 | 0.02 | 0.03 | 0.04 | 0.24 | -- | -- | -- | -- |
| Inventory | 1.64 | 1.77 | 1.90 | 1.82 | 1.88 | 1.34 | 1.02 | 2.60 | 1.91 | 1.80 | 1.79 | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 6.01 | 5.17 | 6.24 | 7.53 | 11.58 | 6.08 | 8.81 | 13.35 | 16.84 | 18.34 | 15.04 | 9.86 | 10.86 | 11.41 | 6.90 | 6.32 | 0.05 |
| Property, Plant & Equipment | 4.74 | 3.99 | 3.48 | 3.20 | 2.72 | 0.28 | 0.26 | 0.22 | 0.18 | 0.14 | 0.14 | 0.12 | 0.01 | 0.00 | 0.00 | 0.00 | -- |
| Intangible Assets | 0.91 | 0.92 | 0.96 | 0.98 | 1.00 | 1.02 | 0.98 | 0.97 | 1.00 | 1.02 | 1.04 | 1.02 | 1.03 | 1.05 | 1.06 | 1.07 | -- |
| Total Non-current Assets | 6.98 | 5.84 | 5.12 | 4.83 | 4.40 | 3.98 | 3.41 | 1.20 | 1.19 | 1.16 | 1.18 | 1.14 | 1.04 | 1.05 | 1.08 | 1.09 | -- |
| Total Assets | 13.00 | 11.01 | 11.36 | 12.36 | 15.98 | 10.06 | 12.22 | 14.54 | 18.03 | 19.50 | 16.22 | 11.01 | 11.90 | 12.46 | 7.98 | 7.41 | -- |
| Accounts Payable | 1.58 | 1.38 | 1.24 | 1.05 | 0.82 | 0.77 | 0.89 | 0.76 | 0.38 | 0.33 | 0.87 | 1.04 | 0.68 | 0.14 | 0.08 | 0.16 | 0.20 |
| Total Current Liabilities | 3.59 | 3.65 | 4.33 | 2.88 | 2.85 | 1.59 | 1.54 | 1.63 | 0.57 | 0.52 | 1.07 | 1.26 | 1.43 | 0.91 | 0.10 | 0.18 | 0.49 |
| Long-term Debt | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.10 |
| Total Non-current Liabilities* | 6.42 | 3.70 | 0.53 | 0.56 | 0.55 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.18 |
| Total Liabilities* | 10.01 | 7.35 | 4.87 | 3.44 | 3.40 | 1.59 | 1.54 | 1.63 | 0.57 | 0.52 | 1.07 | 1.26 | 1.43 | 0.91 | 0.10 | 0.18 | 0.68 |
| Retained Earnings | (57.20) | (54.51) | (41.02) | (36.67) | (32.09) | (23.61) | (20.91) | (17.98) | (12.87) | (11.14) | (9.49) | (6.16) | (5.25) | (4.03) | (2.49) | (1.94) | (13.38) |
| Total Stockholder Equity* | 2.99 | 3.66 | 6.50 | 8.92 | 12.58 | 8.47 | 10.68 | 12.91 | 17.46 | 18.98 | 15.14 | 9.74 | 10.46 | 11.55 | 7.88 | 7.24 | (0.63) |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 2.26 | 0.55 | (1.68) | 0.27 | 0.27 | 0.54 | 0.01 | 0.08 | 0.04 | 0.32 | (0.12) | 0.01 | 0.05 | 0.80 | 0.79 | 0.92 | 1.03 | 0.27 | 0.01 | 0.02 |
| Cost of Revenue* | 0.28 | 0.20 | 0.74 | 0.55 | 0.87 | 0.40 | 0.65 | 0.04 | 0.04 | 0.62 | 0.91 | 0.18 | 0.05 | 0.72 | 0.72 | 0.81 | 0.90 | 0.25 | 0.00 | -- |
| Gross Profit* | 1.98 | 0.35 | (2.43) | 0.21 | (0.28) | 0.14 | (0.64) | 0.04 | (0.01) | (0.30) | (1.03) | (0.17) | 0.00 | 0.08 | 0.07 | 0.11 | 0.13 | 0.03 | 0.01 | -- |
| Research & Development | 0.28 | 0.45 | 0.70 | 0.76 | 0.53 | 0.53 | 0.62 | 0.42 | 0.57 | 0.54 | 0.55 | 0.32 | 0.27 | 0.36 | 0.39 | 0.12 | 0.42 | 0.19 | 0.10 | 0.12 |
| Selling, General & Admin | 1.34 | 1.44 | 1.62 | 1.46 | 1.18 | 0.94 | 1.30 | 1.02 | 1.05 | 0.46 | 0.87 | 0.54 | 0.68 | 0.59 | 0.54 | 0.39 | 0.38 | 0.26 | 0.51 | 0.37 |
| Total Operating Expenses | 3.60 | 4.95 | 5.94 | 4.57 | 4.36 | 3.92 | 4.20 | 2.78 | 3.01 | 1.90 | 2.29 | 1.72 | 1.77 | 1.76 | 1.83 | 1.02 | 1.34 | 0.90 | 0.56 | 0.57 |
| Operating Income | (1.62) | (4.60) | (8.36) | (4.36) | (4.64) | (3.79) | (4.84) | (2.74) | (3.02) | (2.20) | (3.31) | (1.88) | (1.77) | (1.68) | (1.75) | (0.91) | (1.21) | (0.87) | (0.55) | (0.55) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Pretax Income | (2.70) | (4.57) | (8.35) | (4.35) | (4.58) | (3.70) | (4.78) | (2.70) | (2.93) | (2.02) | (3.08) | (1.73) | (1.65) | (1.64) | (1.69) | (0.91) | (1.21) | (0.87) | (0.46) | -- |
| Tax Provision | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | (2.70) | (4.57) | (8.35) | (4.35) | (4.58) | (3.70) | (4.78) | (2.70) | (2.93) | (2.02) | (3.08) | (1.73) | (1.65) | (1.64) | (1.69) | (0.91) | (1.21) | (0.87) | (0.49) | (0.55) |
| Diluted EPS | 0.15 | (0.26) | (1.35) | 0.03 | (0.03) | (0.03) | (0.70) | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.21 | (2.51) | (4.12) | (2.58) | (4.13) | (3.49) | (3.09) | (2.56) | (2.43) | (2.51) | (2.34) | (1.82) | (1.70) | (3.18) | (2.35) | (1.57) | (1.14) | 0.12 | (0.79) | (0.58) |
| Capital Expenditures | 0.91 | 0.35 | -- | 0.46 | 0.31 | 0.30 | 0.48 | 0.03 | 0.05 | 0.00 | 0.05 | 0.04 | 0.00 | 0.01 | 0.02 | 0.12 | 0.00 | 0.00 | -0.00 | 0.00 |
| Free Cash Flow* | (0.70) | (2.85) | -- | (3.04) | (4.44) | (3.79) | (3.57) | (2.59) | (2.47) | (2.51) | (2.39) | (1.87) | (1.70) | (3.19) | (2.37) | (1.69) | (1.14) | 0.11 | (0.79) | (0.58) |
| Investing Cash Flow | (0.91) | (0.35) | (0.54) | (0.46) | (0.60) | (0.30) | 0.35 | (0.60) | (0.40) | -0.00 | 1.91 | (0.04) | -0.00 | (0.01) | 3.96 | 0.88 | (7.00) | -0.00 | 0.02 | -0.00 |
| Financing Cash Flow | 2.03 | 0.10 | 6.93 | 1.83 | -0.00 | 0.02 | 11.44 | 0.04 | (0.03) | 0.00 | (1.93) | 0.07 | 7.15 | 8.29 | 0.03 | 0.00 | 0.00 | 0.00 | 5.05 | 1.13 |
* Derived from reported values