Wed, Aug 14, 8:05 PM (327 days ago)
Aqua Metals, Inc. reported a net loss of $11.9 million for the six months ended June 30, 2024, compared to a loss of $9.4 million in the same period of 2023, with no revenue generated from commercial operations. Operating expenses increased significantly, driven by higher plant operations costs due to expanded staffing and operational activities. Cash used in operations totaled $8 million, reflecting a shift from a cash inflow of $5.5 million in 2023, primarily due to a non-recurring lease transaction. The company had cash and cash equivalents of $7.8 million against current liabilities of $7.9 million, raising concerns about its ability to sustain operations over the next twelve months without additional capital. The company continues to pursue funding through equity or debt to support its lithium-ion battery recycling initiatives. Future operations may be impacted by rising interest rates and declining lithium mineral prices, which have affected lender confidence in financing projects.