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…
Earnings analysis · 10-Q
AQB earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Net Loss Narrowed YoY
Net loss improved to $1.2 million for Q1 2026 from $1.6 million in Q1 2025, a 25% reduction.
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Operating Loss Decreased
Operating loss reduced by 47% to $622 thousand from $1.166 million year-over-year.
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General and Administrative Expenses Cut
General and administrative expenses decreased to $1.159 million, down 46% from $537 thousand in Q1 2025.
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Cash Raised from Equity Issuance
Raised $1.15 million from an equity transaction involving the sale of 1,269,509 shares of common stock.
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Discontinued Operations Loss Reduced
Loss from discontinued operations decreased by 37% to $275 thousand, reflecting lower ongoing costs.
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No Sales and Marketing Costs
Sales and marketing expenses dropped to zero due to the cessation of salmon rearing activities.
What to watch
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Going Concern Doubt
Substantial doubt about the ability to continue as a going concern due to only $441 thousand in cash and ongoing losses.
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High Dividend Burden from Preferred Stock
Issuance of Series A Convertible Preferred Stock includes high cumulative dividends that could worsen liquidity.
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Potential Significant Dilution
Conversion of preferred stock may lead to significant dilution for common stockholders, affecting share value.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.