Aqua Metals, Inc. Q3 FY2025 earnings call

• Advanced technology with validation of AquaRefining platform, processing 1 metric ton of LFP cathode scrap to produce battery-grade lithium carbonate.
• Expanded commercial pathways with MOU agreements with Moby Robotics and Impossible Metals for deep-sea mineral feedstocks, and LOI with Westwind Elements for potential nickel supply.
• Strengthened balance sheet with $17.1 million in new funding, maintaining a proactive raise for strategic momentum.
• Regained Nasdaq listing compliance and continued active industry engagement through events like the battery show.

During Q3, Aqua Metals reported a net loss of $2.8 million for the quarter or negative $1.52 per share compared to a net loss of $4.7 million or negative $6.87 per share in 2024. Year-to-date net loss improved to $12.3 million or negative $7.41 per share from $19.2 million or negative $27.63 per share in the same period last year. Cash and cash equivalents ended the quarter at $2.9 million, up from $1.9 million at the end of Q2. Capital raised was $17.1 million, providing multiple quarters of strategic runway.

• Anticipate a modest increase in cash use as they ramp R&D process optimization and site readiness efforts in support of commercialization.
• Focus on maintaining liquidity, aligning investment with clear milestones, and advancing the commercialization plan efficiently.
• Proactive capital raise provides multiple quarters of strategic runway and flexibility for strategic initiatives.

• Aqua Metals cautions investors not to place undue reliance on forward-looking statements and disclaims obligation to update or revise such statements except as required by law.

Q: Can you expand on your financial position and the runway that you see?

A: Aqua Metals has $17 million in capital infusion, providing multiple quarters of financial runway, supporting engineering, permitting, and site selection for the first commercial-scale facility, with a position of strength and stability.

Q: Should investors expect more business development updates in the near term?

A: They are actively advancing initiatives and expect to share additional developments as they mature, potentially as early as this quarter, with a focus on steady progress towards long-term value creation