The call highlighted several significant achievements, including technological advancements in lithium carbonate production, cost competitiveness, strategic partnerships, and a strengthened financial position. However, it also revealed financial losses and the need for a reverse stock split to maintain NASDAQ compliance. Overall, the sentiment is balanced with a slight positive tilt due to the potential for future growth and partnerships.

Company Guidance

In the recent Aqua Metals second quarter financial results call, a comprehensive guidance was provided, highlighting several key metrics and developments. The company reported producing lithium carbonate with fluorine content below 30 parts per million, which is considered best-in-class globally for recycled lithium. They achieved production of over 1 metric ton of high-purity nickel-manganese-cobalt mixed hydroxide cake for qualification sampling. Aqua Metals also successfully tested nickel refinery residue and is preparing for tests on undersea nodules rich in nickel and cobalt. They initiated trials for sodium sulfate regeneration technology, aiming to reduce chemical costs and minimize waste streams. The company is designing a modular, scalable commercial ARC facility capable of processing between 10,000 and 60,000 metric tons of black mass annually. Aqua Metals' internal analysis suggests that their U.S.-based AquaRefining process is cost-competitive with Chinese hydrometallurgical recycling and operates at roughly half the cost of traditional U.S. methods. Financially, Aqua Metals ended the quarter with cash and cash equivalents of approximately $1.9 million, which increased to $3.2 million by the date of the call. They completed the sale of their Sierra ARC facility, generating $4.3 million in cash, which was used to retire a $3 million building loan. This resulted in the company having no debt. Operating expenses were reduced to $0.8 million from $2.4 million a year ago, and G&A expenses decreased to $2.2 million from $3.4 million, reflecting workforce reductions. Despite these efforts, the company reported a net loss of $6.8 million for the quarter.

Best-in-Class Lithium Carbonate Production

Aqua Metals produced lithium carbonate with fluorine content below 30 parts per million, potentially the highest spec globally for recycled lithium. Approximately 100 kilograms were produced for strategic counterparties to evaluate.

Cost Competitiveness Achieved

Aqua Metals' internal analysis shows that AquaRefining in the U.S. is cost competitive with Chinese hydrometallurgical recycling and operates at roughly half the cost of traditional U.S. methods.

Strategic Partnerships and Collaboration

The company is in discussions with potential strategic partners for a phased build-out of a scalable commercial ARC facility and to support a fully domestic closed-loop battery material supply chain.

Strong Financial Position

Completed the sale of the Sierra ARC facility, generating approximately $4.3 million, which was used to retire the $3 million Summit building loan, eliminating all company debt.

Patent Allowance Secured

Secured a U.S. patent allowance that covers foundational aspects of AquaRefining technology for the lithium-ion battery recycling space, supporting licensing and partnership opportunities.

Aqua Metals (AQMS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

AQMS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	- / -	-0.76	―	―	―
Aug 13, 2025	2025 (Q2)	- / -7.44	-10	25.60% (+2.56)	―
May 08, 2025	2025 (Q1)	- / -1.03	-10	89.70% (+8.97)	―
Mar 31, 2025	2024 (Q4)	- / -10.30	-10	-3.00% (-0.30)
Nov 14, 2024	2024 (Q3)	-8.00 / -7.60	-8	5.00% (+0.40)	―
Aug 05, 2024	2024 (Q2)	-10.00 / -10.00	-12	16.67% (+2.00)	―
May 15, 2024	2024 (Q1)	-10.00 / -10.00	-12	16.67% (+2.00)
Mar 27, 2024	2023 (Q4)	-10.00 / -18.00	-10	-80.00% (-8.00)
Nov 08, 2023	2023 (Q3)	-10.00 / -8.00	-10	20.00% (+2.00)
Aug 09, 2023	2023 (Q2)	-9.00 / -12.00	-8	-50.00% (-4.00)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AQMS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 13, 2025	$4.22	$3.99	-5.45%
May 08, 2025	$11.05	$9.67	-12.49%
Mar 31, 2025	$18.70	$18.60	-0.53%
Nov 14, 2024	$19.10	$16.70	-12.57%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Aqua Metals (AQMS) report earnings?

Aqua Metals (AQMS) is schdueled to report earning on Oct 30, 2025, After Close (Confirmed).

What is Aqua Metals (AQMS) earnings time?

Aqua Metals (AQMS) earnings time is at Oct 30, 2025, After Close (Confirmed).

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