AirJoule Technologies Corporation Q4 FY2025 earnings call

Matt Jor mentioned 2025 was a year to build the foundation for commercialization and 2026 is to convert that into a commercial pipeline to revenue. AirJewel offers distributed water generation from the atmosphere. In 2025, they achieved technology validation with field deployments in places like Dubai, Texas, and Arizona State University, product development with focus on the AirJewel platform and Prime, partnerships such as with GE Renova, Net Zero Innovation Hub, U.S. Army, and 10X Investment, built a commercial pipeline with customer engagements and water purchase agreement model, and ensured sufficient capitalization. Pat Eilers talked about the importance of the Middle East region with its water stress and sector growth. Brian Barton discussed product roadmap including Core and Prime products, commercialization plans with customer engagement process stages and manufacturing progress. Steven Peng provided financial update on net operating expenses, net loss, joint venture details, cash position, and 2026 outlook and liquidity

2026 is the year to transition to commercial pipeline building, expecting to secure multiple long - term customer commitments across various markets, with customer relationships in 2026 laying the foundation for scaled commercial business in 2027 and beyond. The joint venture budgeted approximately 17 - 19 million in operating expenses in 2026, and AirJewel Technologies corporate operating expenses are expected to be approximately $15 million for the full year 2026

Q: Inquired about customer engagement from feed - on - street, distributor perspective and outreach.

A: Brian stated that conversations are initiated through customer direct contact, warm introductions, and conferences/trades shows.

Q: Asked about supply chain and scarce components.

A: Most components are commercially available, the aluminum vacuum chamber of the sorbent chamber is produced at scale, the sorbent coated contactor is a commodity with many vendors, and the coating process is commoditized.

Q: Questioned about the $10 million cap call on the joint venture and other CapEx needs in 2026.

A: Steven said the capital calls are part of the normal funding plan for the joint venture, and there are no other major CapEx beyond the forecasted cash needs.

Q: Asked about gross margins initially and at scale.

A: For 2026, the focus is on deployments, and the long - term gross margin target is around 30 - 35% at scale.

Q: Inquired about JV revenue in 2026.

A: It is expected that modest revenue will continue to grow.

Q: Asked about economics compared to desalination and water quality.

A: Desalination has lower operating costs, but AirJewel's value lies in speed to market, distributed water, resiliency, and water quality with distilled water.

Q: Questioned about commercial opportunities turning into firm orders.

A: There are various verticals with ongoing customer conversations, and deployments and proof of values will lead to commercial commitments