Aqua Metals, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | — | $0 | $25,000 | $4,000 | $173,000 |
| Operating income | -$23.3M | -$23.8M | -$24.5M | -$15.6M | -$17.5M |
| Cost of revenue | $2.4M | $7.2M | $6.3M | $4.0M | $7.0M |
| Cash from operations | -$10.3M | -$13.6M | -$3.2M | -$10.1M | -$7.1M |
| Capital expenditure | $425,000 | $7.9M | $5.6M | $4.8M | $2.4M |
| Free cash flow | -$10.7M | -$21.6M | -$8.8M | -$14.9M | -$9.4M |
| Impairments | — | $2.6M | $4.9M | $579,000 | $545,000 |
| Total assets | $19.7M | $26.4M | $33.6M | $33.5M | $33.3M |
| Total liabilities | $4.9M | $10.1M | $7.5M | $12.6M | $5.7M |
Shares outstanding 3.4M · Free float 18.5%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.