Montana Technologies (AIRJ) AI Stock Analysis

• Market Cap: $279.23M
• Dividend Yield: N/A
• Average Volume (3M): 217.14K
• Price to Earnings (P/E): 7.0
• Beta (1Y): 0.70
• Revenue Growth: N/A
• EPS Growth: -100.27%
• Country: US
• Employees: 17
• Sector: Industrials
• Sector Strength: 72
• Industry: Electrical Equipment & Parts
• EPS (TTM): -0.07
• Shares Outstanding: 60,439,594
• 10 Day Avg. Volume: 114,041
• 30 Day Avg. Volume: 217,136
• PEG Ratio: <0.01
• Price to Book (P/B): 1.64
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -17.08
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $12.00
• Price Target Upside: 116.22% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: ―

Montana Technologies' stock faces significant challenges due to zero revenue and negative cash flows, overshadowing the low P/E ratio and recent corporate investments. While the technical analysis indicates bearish trends, the potential for strategic growth through innovative technologies and partnerships offers some optimism. However, substantial improvements in revenue generation and operational efficiency are critical for a more favorable outlook.

Positive Factors

Strategic Investment

The $15M investment from GE Vernova Ventures will accelerate commercialization of AirJoule® systems, enhancing market reach and product development.

Innovative Technology

The new water-from-air technology positions the company to tap into a $450 billion market, addressing water security and energy efficiency needs.

Executive Incentives

Performance-based awards align executive incentives with company goals, potentially driving improved performance and shareholder value over time.

Negative Factors

Zero Revenue

Consistent zero revenue indicates critical issues in monetizing products, threatening long-term sustainability and growth prospects.

Negative Cash Flows

Negative cash flows suggest struggles in generating cash from operations, raising concerns about liquidity and financial health.

Operational Inefficiencies

Negative EBIT and EBITDA highlight operational inefficiencies, indicating challenges in achieving profitability and efficient cost management.

Montana Technologies Business Overview & Revenue Model

Company Description

Montana Technologies (AIRJ) is a cutting-edge company operating in the advanced technology sector, specializing in the development and production of innovative air purification systems. Leveraging state-of-the-art technology, Montana Technologies provides solutions aimed at improving air quality in various environments, ranging from industrial settings to residential spaces. The company is committed to sustainability and enhancing public health through its core products and services.

How the Company Makes Money

Montana Technologies generates revenue primarily through the sale of its air purification systems and related services. The company's key revenue streams include direct sales to consumers and businesses, as well as partnerships with industrial clients who require large-scale air purification solutions. Additionally, the company offers maintenance and subscription services for ongoing filter replacements and system upgrades, providing a steady flow of recurring revenue. Strategic partnerships with environmental agencies and organizations further bolster its earnings by expanding its market reach and enhancing product development.

Montana Technologies Financial Statement Overview

Summary

Montana Technologies faces significant challenges with revenue generation and operational profitability, as indicated by consistently zero revenue and negative margins. The balance sheet offers some stability with strong equity, but historical issues and negative cash flows highlight potential liquidity risks. Overall, the company needs to address core operational inefficiencies and improve revenue streams for sustainable growth.

Income Statement

Montana Technologies reports zero revenue consistently, indicating a critical issue with revenue generation. Despite reported net income in the TTM, EBIT and EBITDA remain negative, highlighting operational inefficiencies. The absence of revenue growth and negative margins across EBIT and EBITDA suggest financial instability.

Balance Sheet

The company has a strong equity base with a substantial stockholders' equity relative to its total assets, indicating potential stability. However, the debt-to-equity ratio is low, reflecting minimal leverage risk. The equity ratio is favorable, but historical negative equity in previous years raises concerns about financial management.

Cash Flow

Operating cash flow is consistently negative, suggesting struggles with cash generation from core operations. The free cash flow is also negative, indicating potential liquidity challenges. The cash flow from financing activities is positive, which could reflect dependency on external financing rather than operational efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-23.03K	0.00	0.00	0.00	0.00
EBITDA	-24.88M	-11.18M	-11.37M	-2.77M	-2.25M
Net Income	-926.77K	215.70M	-11.38M	-2.79M	-2.31M
Balance Sheet
Total Assets	372.73M	369.85M	556.13K	295.97M	293.83M
Cash, Cash Equivalents and Short-Term Investments	26.01M	28.02M	375.80K	1.29M	2.84M
Total Debt	132.05K	154.23K	49.54K	0.00	0.00
Total Liabilities	86.38M	117.74M	6.46M	11.86M	11.77M
Stockholders Equity	286.35M	252.11M	-5.90M	284.10M	282.06M
Cash Flow
Free Cash Flow	-6.76M	-24.28M	-5.20M	-2.85M	-1.90M
Operating Cash Flow	-6.74M	-24.26M	-5.10M	-2.85M	-1.89M
Investing Cash Flow	-12.77M	-10.02M	0.00	167.55K	-13.02K
Financing Cash Flow	14.83M	61.93M	265.30K	4.97M	4.54M

Montana Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 5.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AIRJ, the sentiment is Negative. The current price of 5.55 is above the 20-day moving average (MA) of 3.92, above the 50-day MA of 4.71, and above the 200-day MA of 5.04, indicating a bearish trend. The MACD of -0.53 indicates Positive momentum. The RSI at 32.71 is Neutral, neither overbought nor oversold. The STOCH value of 17.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AIRJ.

Montana Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
EAF	46 Neutral	$310.87M	-1.53	―	―	-3.66%	32.11%
FCEL	45 Neutral	$207.01M	―	-29.51%	―	78.82%	-20.81%
AIRJ	43 Neutral	$279.23M	7.03	-0.34%	―	―	-100.27%
TGEN	43 Neutral	$192.21M	―	-29.60%	―	24.01%	5.55%
NVX	41 Neutral	$274.35M	-2.47	-45.13%	―	-14.27%	-28.56%
TE	40 Underperform	$1.01B	―	-55.98%	―	―	-394.37%

Montana Technologies Corporate Events

Montana Technologies Secures $15M Investment for AirJoule

On April 23, 2025, AirJoule Technologies Corporation announced a $15 million private placement investment anchored by GE Vernova Ventures LLC, aimed at accelerating the commercialization of its AirJoule® system. The investment will support the deployment of AirJoule® A1000™ units, which can produce 1,000 to 3,000 liters of pure water per day using low-grade waste heat. Additionally, AirJoule and GE Vernova have commenced a strategic project to integrate AirJoule® technology into GE Vernova products, focusing on converting waste heat into distilled water for industrial applications such as data centers and power generation. This collaboration highlights the potential for improved energy efficiency and on-site water production, positioning AirJoule Technologies as a significant player in addressing global water scarcity challenges.

Spark’s Take on AIRJ Stock

According to Spark, TipRanks’ AI Analyst, AIRJ is a Neutral.

Montana Technologies’ stock is currently under pressure due to significant financial performance challenges, including zero revenue and negative cash flows. While the valuation appears attractive with a low P/E ratio, this is overshadowed by the company’s operational inefficiencies. Technical analysis reflects a bearish trend, although the stock is nearing oversold territory. The recent corporate event announcement provides some optimism for future growth, but substantial improvements in revenue and profitability are necessary for a stronger outlook.

To see Spark’s full report on AIRJ stock, click here.

Montana Technologies Unveils Innovative Water-from-Air Technology

On March 5, 2025, AirJoule Technologies announced the release of a presentation for upcoming investor conferences, highlighting its innovative technology that efficiently produces pure distilled water from air using ambient air and waste heat. The company is poised to impact several industries, including HVAC and data centers, with its superior performance and energy efficiency, supported by partnerships with major companies like GE Vernova and BASF. The announcement underscores AirJoule’s strategic positioning to address significant market opportunities, estimated at $450 billion, by leveraging its technology to improve water security and energy efficiency.

Montana Technologies Approves Executive Performance-Based Awards

On February 12, 2025, AirJoule Technologies Corporation’s Compensation Committee approved performance-based restricted stock unit awards for executives Matthew B. Jore and Jeffrey D. Gutke under the company’s 2024 Incentive Award Plan. These awards, which are subject to vesting based on either stock price goals or cumulative revenue, aim to enhance shareholder returns and company performance over a three-year period ending December 31, 2027. The initiative reflects the company’s commitment to aligning executive compensation with performance metrics, potentially impacting company operations and stakeholder interests.