SCWO · 374water Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $551.2K | - | $760.4K | $595.0K | $543.1K | - | $81.5K | $36.8K | $315.3K | - |
| Cost of Revenue | $404.8K | - | $547.8K | $871.3K | $404.8K | - | $42.4K | $43.5K | $617.3K | - |
| Gross Profit | $348.4K | - | $212.6K | ($276.4K) | $138.3K | - | $39.1K | ($6.7K) | ($302.0K) | - |
| R&D | $449.8K | - | $755.9K | $531.2K | $533.6K | - | $424.6K | $566.6K | $535.1K | - |
| SG&A | $1.44M | - | $1.46M | $1.18M | $942.4K | - | $1.02M | $1.05M | $459.7K | - |
| Total Operating Expenses | $4.95M | - | $4.57M | $4.36M | $3.92M | - | $2.78M | $3.01M | $1.90M | - |
| D&A | $209.3K | - | $177.9K | $167.0K | $164.0K | - | $10.3K | $892 | $24.6K | - |
| Operating Income | ($4.60M) | - | ($4.36M) | ($4.64M) | ($3.79M) | - | ($2.74M) | ($3.02M) | ($2.20M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $0 | - | $0 | $0 | $0 | - | $0 | $0 | $0 | - |
| Net Income | ($4.57M) | - | ($4.35M) | ($4.58M) | ($3.70M) | - | ($2.70M) | ($2.93M) | ($2.02M) | - |
| EPS - Basic | - | - | - | - | - | - | - | - | - | - |
| EPS - Diluted | ($0.26) | - | $0.30 | ($0.30) | ($0.20) | - | - | - | - | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $447.5K | $3.20M | $933.3K | $2.15M | $6.88M | $10.65M | $1.96M | $5.08M | $7.94M | $10.45M |
| Accounts Receivable | $2.41M | $668.9K | $643.6K | $863.8K | $94.1K | $269.7K | $288.8K | $57.4K | $84.3K | $64.8K |
| Inventory | $1.77M | $1.47M | $1.90M | $1.82M | $1.88M | $1.70M | $1.34M | $1.02M | $2.60M | $2.28M |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $5.17M | $5.85M | $6.24M | $7.53M | $11.58M | $14.89M | $6.08M | $8.81M | $13.35M | $14.90M |
| Total Assets | $11.01M | $11.41M | $11.36M | $12.36M | $15.98M | $19.18M | $10.06M | $12.22M | $14.54M | $16.12M |
| Current Liabilities | $3.65M | $4.18M | $4.33M | $2.88M | $2.85M | $3.13M | $1.59M | $1.54M | $1.63M | $1.37M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $7.35M | $4.68M | $4.87M | $3.44M | $3.40M | $3.71M | - | $1.54M | $1.63M | $1.37M |
| Stockholders' Equity | $3.66M | $6.72M | $6.50M | $8.92M | $12.58M | $15.47M | $8.47M | $10.68M | $12.91M | $14.75M |
| Retained Earnings | ($54.51M) | ($49.94M) | ($41.02M) | ($36.67M) | ($32.09M) | ($28.39M) | ($23.61M) | ($20.91M) | ($17.98M) | ($15.95M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($2.51M) | - | - | - | ($3.49M) | - | - | - | ($2.51M) | - |
| Investing Cash Flow | ($345.9K) | - | - | - | ($297.3K) | - | - | - | ($590) | - |
| Financing Cash Flow | $103.1K | - | - | - | $24.0K | - | - | - | $0 | - |
| CapEx | $345.9K | - | - | - | $297.3K | - | - | - | $0 | - |
| Free Cash Flow | ($2.85M) | - | - | - | ($3.79M) | - | - | - | ($2.51M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 63.2% | - | 28.0% | -46.5% | 25.5% | - | 48.0% | -18.3% | -95.8% | - |
| Operating margin | -834.3% | - | -573.5% | -779.5% | -697.0% | - | -3364.5% | -8199.4% | -698.2% | - |
| EBITDA margin | -796.3% | - | -550.1% | -751.5% | -666.8% | - | -3351.9% | -8197.0% | -690.4% | - |
| Net margin | -829.5% | - | -571.9% | -769.9% | -681.0% | - | -3315.5% | -7963.7% | -642.1% | - |
| Free cash flow margin | -517.9% | - | - | - | -698.2% | - | - | - | -795.7% | - |
| FCF / Net income | 0.62 | - | - | - | 1.03 | - | - | - | 1.24 | - |
| R&D / Revenue | 81.6% | - | 99.4% | 89.3% | 98.2% | - | 521.0% | 1538.7% | 169.7% | - |
| SG&A / Revenue | 261.6% | - | 192.3% | 199.1% | 173.5% | - | 1254.5% | 2857.1% | 145.8% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -41.5% | - | -38.3% | -37.1% | -23.1% | - | -26.9% | -24.0% | -13.9% | - |
| Return on equity | -124.9% | - | -66.9% | -51.4% | -29.4% | - | -31.9% | -27.5% | -15.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.42 | 1.40 | 1.44 | 2.61 | 4.07 | 4.76 | 3.81 | 5.73 | 8.17 | 10.85 |
| Quick ratio | 0.93 | 1.05 | 1.00 | 1.98 | 3.41 | 4.22 | 2.97 | 5.07 | 6.58 | 9.19 |
| Cash ratio | 0.12 | 0.76 | 0.22 | 0.75 | 2.42 | 3.41 | 1.23 | 3.31 | 4.86 | 7.60 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 3.01 | 1.70 | 1.75 | 1.39 | 1.27 | 1.24 | 1.19 | 1.14 | 1.13 | 1.09 |
| Liabilities / Assets | 0.67 | 0.41 | 0.43 | 0.28 | 0.21 | 0.19 | - | 0.13 | 0.11 | 0.09 |
| Efficiency | ||||||||||
| Asset turnover | 0.05 | - | 0.07 | 0.05 | 0.03 | - | 0.01 | 0.00 | 0.02 | - |
| Inventory turnover | 0.23 | - | 0.29 | 0.48 | 0.22 | - | 0.03 | 0.04 | 0.24 | - |
| Days sales outstanding | 1593d | - | 309d | 530d | 63d | - | 1293d | 569d | 98d | - |
| Days inventory outstanding | 1598d | - | 1264d | 763d | 1692d | - | 11572d | 8519d | 1538d | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 9.7x | - | - | - | - | - | - | - |
| P / B | 13.5x | - | 59.4x | 47.7x | 35.9x | - | - | - | - | - |
| P / S | 89.9x | - | 507.2x | 714.3x | 830.6x | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 1.5% | - | 833.1% | 1515.8% | 72.3% | - | 563.1% | -26.2% | -60.7% | - |
| Revenue CAGR (3y) | -11.7% | - | -6.2% | -16.7% | 25.7% | - | 62.5% | 36.1% | 580.6% | - |
| Revenue CAGR (5y) | 253.4% | - | 163.4% | 188.1% | 102.4% | - | 93.6% | 105.7% | 129.1% | - |
| Gross profit growth (YoY) | 152.0% | - | 444.0% | -4011.4% | - | - | - | - | - | - |
| Operating income growth (YoY) | -21.5% | - | -59.1% | -53.6% | -72.0% | - | -45.7% | -70.7% | -31.1% | - |
| Net income growth (YoY) | -23.6% | - | -61.0% | -56.2% | -82.7% | - | -56.0% | -77.7% | -23.4% | - |
| EPS growth (YoY) | -30.0% | - | - | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 24.7% | - | - | - | -51.1% | - | - | - | 21.3% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -70.9% | -56.5% | -23.3% | -16.5% | -2.6% | 4.9% | -51.5% | -43.7% | -14.7% | 78.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$645.0K totalTreatability Study Services$645.0K · 100.0%
Peer comparison
Same SIC group: Motors & Generators
Comparing 374Water Inc. against the 4 most active filers in the same SIC group.