Monitor for progress on the Olathe contract delivery and Orlando WDS facility buildout, which are key to revenue inflection. Cash runway is limited ($3.2M at year-end) — watch for financing announcements or strategic partnership closures that could extend the runway.
Price Chart
Executive Summary
374Water reported Q1 2026 revenue of $551,155, essentially flat year-over-year (vs $543,100 in Q1 2025). Gross margin expanded 38 percentage points to 63%, but net loss widened to $(4.6M) from $(3.7M) due to continued investment in commercial infrastructure and non-recurring items. The company highlighted operational milestones including a $4.5M+ Olathe contract, a 5-year Orlando WDS agreement, and DoD PFAS destruction validation, but cash burn remains high with only $3.2M cash at year-end 2025 and no guidance provided.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $551,155 vs $543,100 in Q1 2025 (+1.5% YoY)
- Gross margin improved to 63% from 25% year-over-year
- Net loss widened to $(4,571,623) from $(3,698,414) in Q1 2025
- Cash used in operations improved 28% to $(2,508,341) from $(3,494,477)
- Received $2.2M milestone payment on $4.5M+ Olathe contract with Garney Construction
- Signed 5-year agreement with City of Orlando for WDS facility buildout
- Cash and cash equivalents at Dec 31, 2025: $3.2M, down from $10.7M at Dec 31, 2024
- No revenue or EPS guidance provided for future periods
Financial Impact
Revenue essentially flat YoY at $551K; gross margin improved to 63% from 25%; net loss increased 24% to $(4.6M)
Risk Factors
- Cash burn continues with only $3.2M cash at Dec 31, 2025; additional financing needed
- Revenue remains minimal and lumpy; no recurring revenue base established yet
- Net loss growing faster than revenue; path to profitability unclear
- No forward guidance provided, limiting visibility into near-term trajectory
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001654954-26-004906 |
| Document: scwo_8k.htm | 0001654954-26-004906 |
| Document: 0001654954-26-004906-index-headers.html | 0001654954-26-004906 |
| Document: 0001654954-26-004906-index.html | 0001654954-26-004906 |
| Document: 0001654954-26-004906.txt | 0001654954-26-004906 |
| 8-K Data (Synthetic) | 0001654954-26-004906 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 18, 2026 9w ago | 8-K | $2.49 $3.25 | ▲ +30.52% | ▲ +32.47% | $2.36 (−5.22%) |
Aug 11, 2026 10w ago | 424B5 | $2.32 $3.31 | ▼ −42.67% | ▼ −43.73% | $2.36 (−1.72%) |
May 14, 2026 23w ago | 8-K | $2.26 $2.31 | ▲ +2.21% | ▲ +0.09% | $2.36 (+4.42%) |
Apr 16, 2026 27w ago | 8-K | $3.29 $2.22 | ▼ −32.52% | ▼ −38.34% | $2.36 (−28.27%) |
Apr 15, 2026 27w ago | 8-K | $3.29 $2.22 | ▼ −32.52% | ▼ −38.34% | $2.36 (−28.27%) |
Mar 31, 2026 29w ago | 8-K | $2.89 $2.41 | ▲ +16.61% | ▲ +26.33% | $2.36 (+18.34%) |
Feb 24, 2026 34w ago | 8-K | $2.74 $3.50 | ▲ +27.74% | ▲ +32.97% | $2.36 (−13.87%) |
US Market Status
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