AirJoule Technologies Corporation
- Open
- 4.29
- Day high
- 4.54
- Day low
- 4.12
- Prev close
- 4.44
- Volume
- 1.8M
- Mkt cap
- $282M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.2
- P/S
- —
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$34K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
AirJoule Technologies Corporation (AIRJ) is a Industrials company listed on NASDAQ. The stock is down 7% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
AirJoule Technologies Corporation (AIRJ) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AIRJ earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 15, 2026 | $-0.06 | $0.17 | +383.3% | — | — |
| Mar 31, 2026 | $-0.09 | $-0.37 | -311.1% | — | — |
| Nov 13, 2025 | $-0.10 | $-0.07 | +30.0% | $-974500 | — |
| Aug 13, 2025 | $-0.09 | $0.04 | +144.4% | — | — |
| Mar 25, 2025 | $-0.07 | $-0.23 | -228.6% | $124140 | — |
| Nov 13, 2024 | — | $0.07 | — | — | — |
| Aug 22, 2024 | — | $0.24 | — | — | — |
| May 20, 2024 | — | $-0.28 | — | — | — |
| Mar 11, 2024 | — | $0.00 | — | — | — |
| Nov 9, 2023 | — | $-0.12 | — | — | — |
| Aug 21, 2023 | — | $-0.08 | — | — | — |
| May 15, 2023 | — | $-0.02 | — | — | — |
AIRJ insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 10, 2026 | MacDonald Chadofficer: Chief Legal Officer | Sell | 1,987 | $4.50 |
| Jun 10, 2026 | MacDonald Chadofficer: Chief Legal Officer | Sell | 5,320 | $4.65 |
| Jun 9, 2026 | Pang Stephen S.officer: Chief Financial Officer | Option | 23,125 | — |
| Jun 9, 2026 | EILERS PATRICK Cdirector, officer: Executive Chairman | Tax | 1,832 | $4.87 |
| Jun 9, 2026 | EILERS PATRICK Cdirector, officer: Executive Chairman | Option | 6,250 | — |
| Jun 9, 2026 | MacDonald Chadofficer: Chief Legal Officer | Option | 23,125 | — |
| Jun 9, 2026 | JORE MATTHEW Bdirector, 10 percent owner, officer: Chief Executive Officer | Option | 12,500 | — |
| Jun 9, 2026 | Pang Stephen S.officer: Chief Financial Officer | Tax | 7,248 | $4.87 |
| Jun 9, 2026 | JORE MATTHEW Bdirector, 10 percent owner, officer: Chief Executive Officer | Tax | 3,729 | $4.87 |
| Jun 1, 2026 | Sterling Denise Marie Bruciadirector | Option | 25,487 | — |
| Jun 1, 2026 | Sterling Denise Marie Bruciadirector | Grant | 30,227 | — |
| Jun 1, 2026 | Porter Stuart Ddirector, 10 percent owner: | Option | 28,037 | — |
| Jun 1, 2026 | Porter Stuart Ddirector, 10 percent owner: | Grant | 30,227 | — |
| Jun 1, 2026 | Agrawal Ajaydirector | Option | 28,037 | — |
| Jun 1, 2026 | Agrawal Ajaydirector | Grant | 30,227 | — |
Source: AIRJ SEC Form 4 filings, latest Jun 10, 2026. For informational purposes only — not investment advice.
See the full AIRJ insider & 13F page →AirJoule Technologies Corporation company profile
Overview
Montana Technologies Corporation (NASDAQ:AIRJ) is a thermal energy and water harvesting technology company founded on March 14, 2024, and headquartered in Ronan, Montana. The company went public through an IPO on March 11, 2023, making it a relatively new entrant to the public markets. Montana Technologies focuses on developing and commercializing its proprietary AirJoule technology, which aims to provide efficient and sustainable air conditioning solutions while simultaneously extracting pure water from ambient air.
Business
Montana Technologies operates in the emerging field of atmospheric water generation and energy-efficient cooling systems. The company's core innovation is its AirJoule technology, which represents a novel approach to solving two critical global challenges: energy-efficient cooling and water scarcity. The AirJoule system functions as a dual-purpose device that simultaneously provides air conditioning and extracts potable water from atmospheric humidity. Traditional air conditioning systems consume enormous amounts of energy primarily to remove heat and humidity from indoor spaces, with the extracted water typically discarded as waste. Montana Technologies' approach captures this otherwise wasted water while using advanced thermal management techniques to reduce the overall energy consumption of the cooling process. The technology addresses the growing global demand for both cooling solutions and clean water access. As climate change intensifies heat waves and droughts worldwide, and as urbanization increases in water-stressed regions, solutions that can efficiently provide both cooling and water generation become increasingly valuable. The company positions its technology as particularly relevant for applications in arid climates, off-grid locations, and areas with unreliable water infrastructure. Montana Technologies currently operates as a single business segment focused entirely on the development and future commercialization of AirJoule technology. The company has not yet generated revenue from product sales, indicating it remains in the research, development, and pre-commercialization phase of its business lifecycle.
Revenue model
Montana Technologies has not yet established a revenue-generating business model, as evidenced by zero revenue across all reported periods. The company is currently in the pre-revenue development stage, funded primarily through equity financing and focused on advancing its AirJoule technology toward commercial viability. Once commercialized, the company's anticipated business model would likely involve direct product sales of AirJoule systems to various customer segments. Potential customers could include residential consumers in water-scarce regions, commercial buildings seeking energy-efficient HVAC solutions, industrial facilities requiring both cooling and process water, and government or humanitarian organizations deploying water generation systems in remote or disaster-affected areas. The company's future profitability will depend heavily on several critical factors. Energy costs represent a significant consideration, as the efficiency of the AirJoule technology relative to traditional cooling systems will determine its competitive advantage. Raw material costs for manufacturing the systems, particularly any specialized components required for the thermal energy harvesting process, will directly impact gross margins. The competitive landscape includes established HVAC manufacturers who might develop competing technologies, as well as other atmospheric water generation companies that could offer alternative solutions. Regulatory factors could either enhance or constrain the business model, as energy efficiency standards might favor innovative technologies like AirJoule, while safety and water quality regulations could create compliance costs. Geographic factors will also play a crucial role, as the technology's effectiveness varies with humidity levels and ambient temperatures, making certain markets more attractive than others. The company's success will ultimately depend on achieving manufacturing scale economies while demonstrating clear cost and performance advantages over existing separate cooling and water generation solutions.
Competitive moat
Montana Technologies' potential competitive moat centers primarily around its proprietary AirJoule technology and any intellectual property protection surrounding the thermal energy harvesting and water extraction processes. However, the strength of this moat remains largely unproven given the company's pre-revenue status and the absence of detailed public information about its patent portfolio or technological barriers to entry. The company operates in a space where several potential moat-eroding factors exist. Large, established HVAC manufacturers like Carrier, Trane, and Daikin possess significant resources for research and development, extensive distribution networks, and existing customer relationships that could enable them to develop competing technologies or acquire emerging competitors. Similarly, the atmospheric water generation market includes several other companies working on various extraction technologies, creating a competitive environment where technological superiority must be continuously maintained. The dual-purpose nature of the AirJoule technology could provide some differentiation, as most competitors focus on either cooling or water generation separately. However, this advantage depends on the technology proving superior to using best-in-class separate systems for each function. Network effects are limited in this business model, as individual installations don't benefit from others using the same technology. The company's small size and limited financial resources compared to potential competitors represent a significant vulnerability. Without substantial revenue or proven market traction, Montana Technologies faces the challenge of maintaining technological leadership while larger competitors could potentially replicate or improve upon its innovations. The ultimate strength of the company's moat will depend on factors not yet publicly demonstrable: the depth of its intellectual property protection, the complexity of replicating its technology, and its ability to establish first-mover advantages in key markets before well-funded competitors enter the space.
Risks & safety
Montana Technologies presents a mixed margin of safety profile, with strong liquidity but significant operational risks due to its pre-revenue status. • Liquidity Position: Strong current ratio of 7.83x and $28.0 million in cash and short-term investments as of Q4 2024, providing substantial near-term financial cushion • Debt Level: Minimal debt with debt-to-equity ratio of 0.0006, indicating very low financial leverage and solvency risk • Cash Burn: Negative free cash flow of $24.3 million for FY 2024, suggesting approximately 1.2 years of cash runway at current burn rate • Valuation Metrics: Trading at 1.92x P/E ratio based on FY 2024 net income of $215.7 million (though this appears to include significant non-operating gains), and 1.61x price-to-book ratio • Operating Performance: Consistently negative EBITDA from operations across all quarters, with no revenue generation to date • Other Considerations: High asset base of $369.9 million relative to market cap suggests potential asset backing, though much may represent intangible development costs rather than liquidation value
Recent development
Based on the available financial data, Montana Technologies has been primarily focused on technology development and corporate establishment activities since its recent founding and public listing. The company's financial statements show significant fluctuations in net income across quarters, with FY 2024 showing a substantial positive net income of $215.7 million despite consistent operational losses, suggesting the recognition of significant non-cash gains, potentially related to asset revaluations or equity transactions. The company has maintained a consistent focus on research and development activities, as evidenced by the steady operational cash outflows across all reported periods. The absence of revenue generation indicates that Montana Technologies remains in the pre-commercialization phase, likely conducting extensive testing, refinement, and regulatory preparation for its AirJoule technology. The company's asset base has grown substantially since its early days, increasing from $5.4 million in total assets in FY 2022 to $369.9 million by Q4 2024, indicating significant investment in technology development, intellectual property, and potentially manufacturing preparation. The maintenance of strong cash positions throughout this period suggests successful equity fundraising activities to support ongoing development efforts. Without available earnings call transcripts, specific strategic initiatives, partnership developments, or commercialization timelines remain unclear. However, the financial trajectory suggests Montana Technologies is building toward a commercial launch phase, with substantial resources allocated to bringing the AirJoule technology to market readiness.
AIRJ company profile · for informational purposes only — not investment advice.
Track AIRJ with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free