AQB earnings analysis
What we found in AQB's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
AquaBounty Technologies, Inc. reported a net loss of $1.2 million for the three months ended March 31, 2026, which represents an improvement from the $1.6 million loss in the same period last year. With no revenue to report, the company's focus remains on managing costs, particularly with operating expenses decreasing substantially as a result of strategic asset sales and restructuring. The company continues to face significant liquidity challenges, with only $441 thousand in cash as of the end of the period.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Net Loss Narrowed YoY
- Net loss improved to $1.2 million for Q1 2026 from $1.6 million in Q1 2025, a 25% reduction.
- Operating Loss Decreased
- Operating loss reduced by 47% to $622 thousand from $1.166 million year-over-year.
- General and Administrative Expenses Cut
- General and administrative expenses decreased to $1.159 million, down 46% from $537 thousand in Q1 2025.
- Cash Raised from Equity Issuance
- Raised $1.15 million from an equity transaction involving the sale of 1,269,509 shares of common stock.
- Discontinued Operations Loss Reduced
- Loss from discontinued operations decreased by 37% to $275 thousand, reflecting lower ongoing costs.
- No Sales and Marketing Costs
- Sales and marketing expenses dropped to zero due to the cessation of salmon rearing activities.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Going Concern Doubt
- Substantial doubt about the ability to continue as a going concern due to only $441 thousand in cash and ongoing losses.
- High Dividend Burden from Preferred Stock
- Issuance of Series A Convertible Preferred Stock includes high cumulative dividends that could worsen liquidity.
- Potential Significant Dilution
- Conversion of preferred stock may lead to significant dilution for common stockholders, affecting share value.
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads about the same as the one before it.
What came before.
- 10-K · March 31, 2026
- AquaBounty has largely wound down operating farms and IP: it sold its Indiana Farm (July 2024) and Canadian Farms and Corporate IP (March 2025) and now holds primarily the Ohio Farm Project (assets held for sale). The…
- 10-Q · October 28, 2025
- AquaBounty reported a Q3 net loss of $1,380,773 (EPS -$0.36) on revenue of $0 for the quarter. Liquidity remains the key risk: cash increased to $951,434 but current liabilities ($11,933,588) far exceed current assets…
- 10-Q · August 5, 2025
- AquaBounty reported a consolidated net loss of $3,373,037 for Q2 2025 (three months ended June 30, 2025) and basic/diluted net loss per share of $0.87. The company generated $729,569 in cash at June 30, 2025, improved…
- 10-K · March 27, 2025
- AquaBounty’s 2024 10‑K documents a strategic retrenchment: the company sold its grow‑out farms (Indiana in July 2024 and Canadian farms in March 2025), divested Corporate IP, recorded large impairments totaling $129.8…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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