Wed, May 15, 9:12 PM (305 days ago)
374Water Inc. reported a net loss of $2,024,465 for Q1 2024, an increase from the $1,640,343 loss in Q1 2023. Revenue decreased significantly by 61% to $315,278, primarily due to fewer milestones reached and reduced direct contract costs. Operating expenses rose by 8% to $1,899,183, driven by higher research and development costs and professional fees, despite a decrease in compensation and general administrative expenses. Cash and cash equivalents stood at $7,936,161, down from $10,445,404 at year-end 2023. The company faces substantial doubt about its ability to continue as a going concern but plans to activate its $100 million ATM equity offering to secure additional capital.