Aqua Metals, Inc.(AQMS)Earnings, Financials & Key Ratios

AQMS•NASDAQ

$2.77

Price updated Jul 7, 2026

SectorIndustrials IndustryWaste Management Sub-IndustryRecycling and Resource Recovery

AboutAqua Metals, Inc. engages in the recycling of lead primarily in the United States. It produces and sells hard lead, lead compounds, and plastics. Aqua Metals, Inc. was incorporated in 2014 and is headquartered in Reno, Nevada.Show more

Revenue$0
EBITDA-$22M+1.7%
Net Income-$23M+7.8%
EPS (Diluted)-15.15+60.4%
ROE-146.04%-25.8%

AQMS Price & Volume

Aqua Metals, Inc. (AQMS) stock price & volume — 10-year historical chart

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Persistent Pre-Revenue Status Challenges Capital Sustainability

Investment Thesis • Updated 2026Q1

VerdictNegative

Growth:Mixed

Profitability:Negative

Financial:Vulnerable

Cash Flow:Burning

Primary Risk:Capital intensive commercialization risk

Key Thesis Takeaways

Aqua Metals remains in a high-risk, pre-commercial development phase, having failed to generate any revenue over the last ten quarters while sustaining significant operational losses.
The company's pivot toward proprietary electrochemical recycling technology necessitates ongoing capital expenditure, yet the lack of commercial scale and a $274.4 million accumulated deficit raise concerns regarding long-term viability.
Investors should monitor the company's ability to transition from research-focused operations to a self-sustaining business model, as current cash burn rates and equity dilution continue to weigh heavily on shareholder value.

Verdict Logic

the company has failed to generate any revenue in the last ten quarters while maintaining a $274.4 million accumulated deficit, suggesting substantial risk to capital preservation.

AQMS Growth Metrics

Aqua Metals, Inc. (AQMS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years-

3 Years-

TTM-

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM32.57%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM63.87%

Return on Capital

10 Years-67.55%

5 Years-91.45%

3 Years-112.69%

Last Year-139.45%

Latest AQMS News

Recent stock market news and headlines for Aqua Metals, Inc. (AQMS)

Globe News Wire·1 day ago

Aqua Metals Advances Headwaters ARC, Planned Midwest Battery Recycling and Critical Minerals Recovery Campus

RENO, Nev. , July 07, 2026 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS), a pioneer in sustainable critical minerals recovery and lithium battery recycling, today announced it has advanced to final site-specific diligence and negotiations for Headwaters ARC, the Company's planned commercial battery recycling and critical minerals recovery campus in the Midwest battery manufacturing corridor.

GlobeNewsWire·1 day ago

Aqua Metals Advances Headwaters ARC, Planned Midwest Battery Recycling and Critical Minerals Recovery Campus

Company advances final site-specific diligence for Midwest Headwaters ARC development opportunity with existing industrial infrastructure, substantial expansion acreage, and strategic proximity to rapidly growing LFP battery manufacturing capacity Company advances final site-specific diligence for Midwest Headwaters ARC development opportunity with existing industrial infrastructure, substantial expansion acreage, and strategic proximity to rapidly growing LFP battery manufacturing capacity

GlobeNewsWire·Jun 30, 2026

Aqua Metals to Participate in NAATBatt 2026 Recycling & Lifecycle Management Workshop

President & CEO Steve Cotton to present on circular battery supply chains as the Company advances commercialization of its next-generation battery recycling technology President & CEO Steve Cotton to present on circular battery supply chains as the Company advances commercialization of its next-generation battery recycling technology

Peers Comparison

Key metrics vs top competitors for Aqua Metals, Inc. (AQMS)

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Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
AQMSAqua Metals, Inc.Current	$2.77	$9.31M	-0.18	—	—	-146.04%	—
ALTGAlta Equipment Group Inc.	$6.10	$198.47M	-2.39	-2.17%	-4.33%	-3253.61%	—
ENVXEnovix Corporation	$4.99	$1.09B	-6.65	37.91%	-499.64%	-0.28%	—
RCUSArcus Biosciences, Inc.	$30.25	$3.05B	-9.19	-4.26%	-156.36%	-68.97%	—
ECVTEcovyst Inc.	$11.81	$1.29B	-19.36	2.7%	-7.71%	-10.2%	—
CHNRChina Natural Resources, Inc.	$3.77	$4.73M	-26.10	—	—	-1.45%	—