Airjoule Technologies Corp Financials
This page shows Airjoule Technologies Corp (AIRJ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
AirJoule’s balance sheet is being shaped more by capital and asset remeasurement effects than by cash-generating operations.
FY2024 produced a rare split between profit and cash: net income reached$215.7M while operating cash flow was-$24.3M . Because FY2025 still showed operating cash outflow of-$5.6M while equity remained$267.9M , the company’s financial cushion appears to come from prior balance-sheet events rather than from operations funding themselves.
The liquidity picture looks strong on paper, but the 10.5x current ratio is inflated by only
The balance-sheet posture became more conservative in FY2025: liabilities fell to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Airjoule Technologies Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Airjoule Technologies Corp carries a low D/E ratio of 0.27, meaning only $0.27 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 10.52, Airjoule Technologies Corp holds $10.52 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Airjoule Technologies Corp earns a strong -3.4% return on equity (ROE), meaning it generates $-3 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 78/100. This is down from 85.6% the prior year.
Airjoule Technologies Corp passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
For every $1 of reported earnings, Airjoule Technologies Corp generates $0.62 in operating cash flow (-$5.6M OCF vs -$9.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Airjoule Technologies Corp's EBITDA was -$13.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 79.4% from the prior year.
Airjoule Technologies Corp reported -$9.0M in net income in fiscal year 2025. This represents a decrease of 104.2% from the prior year.
Cash & Balance Sheet
Airjoule Technologies Corp generated -$5.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 76.7% from the prior year.
Airjoule Technologies Corp held $21.8M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
Airjoule Technologies Corp's ROE was -3.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 88.9 percentage points from the prior year.
Capital Allocation
Airjoule Technologies Corp invested $1.0M in research and development in fiscal year 2025. This represents a decrease of 50.1% from the prior year.
Airjoule Technologies Corp invested $18K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 5.5% from the prior year.
AIRJ Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | $402K+3.5% | $388K | N/A | N/A | $1.1M |
| SG&A Expenses | $3.3M | N/A | $3.0M-21.0% | $3.8M+34.6% | $2.8M | N/A | $2.4M-24.1% | $3.2M |
| Operating Income | -$3.6M | N/A | -$3.0M+27.8% | -$4.2M-30.5% | -$3.2M | N/A | -$2.4M+45.2% | -$4.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$14.7M | N/A | -$2.4M-53.7% | -$1.6M+5.1% | -$1.6M | N/A | -$1.3M-2.5% | -$1.2M |
| Net Income | -$49.8M | N/A | -$4.0M-259.6% | $2.5M-83.1% | $14.9M | N/A | $35.0M+160.7% | $13.4M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AIRJ Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $296.5M-13.0% | $340.6M-8.6% | $372.7M-0.9% | $376.1M+2.9% | $365.6M-1.1% | $369.9M-1.2% | $374.4M-1.2% | $379.0M |
| Current Assets | $32.8M+37.8% | $23.8M-14.5% | $27.9M-13.0% | $32.0M+31.0% | $24.4M-22.3% | $31.5M-6.4% | $33.6M-6.6% | $36.0M |
| Cash & Equivalents | $31.1M+42.3% | $21.8M-16.0% | $26.0M-14.7% | $30.5M+32.6% | $23.0M-17.9% | $28.0M-8.7% | $30.7M-11.4% | $34.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $55.2M-24.0% | $72.7M-15.8% | $86.4M-1.3% | $87.5M-8.3% | $95.4M-19.0% | $117.7M+8.3% | $108.7M-27.0% | $149.0M |
| Current Liabilities | $1.4M-37.6% | $2.3M+14.9% | $2.0M-22.1% | $2.5M+52.5% | $1.7M-58.8% | $4.0M-10.7% | $4.5M+27.1% | $3.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $241.3M-10.0% | $267.9M-6.4% | $286.4M-0.8% | $288.6M+6.8% | $270.2M+7.2% | $252.1M-5.1% | $265.7M+15.5% | $230.1M |
| Retained Earnings | $139.7M-26.3% | $189.5M-10.6% | $211.9M-1.9% | $215.9M+1.2% | $213.4M+7.5% | $198.5M-6.7% | $212.8M+19.7% | $177.8M |
AIRJ Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.3M-46.6% | -$1.6M+14.6% | -$1.9M+16.3% | -$2.2M-3194.6% | $72K+102.7% | -$2.7M+32.2% | -$4.0M+64.3% | -$11.2M |
| Capital Expenditures | $20K | $0-100.0% | $7K-41.7% | $11K | $0-100.0% | $3K-68.1% | $9K | N/A |
| Free Cash Flow | -$2.4M-47.8% | -$1.6M+14.9% | -$1.9M+16.4% | -$2.2M-3210.4% | $72K+102.7% | -$2.7M+32.3% | -$4.0M | N/A |
| Investing Cash Flow | -$10.0M-100.4% | -$5.0M-81.4% | -$2.8M+43.5% | -$4.9M+5.0% | -$5.1M-169547.8% | -$3K+68.1% | -$9K-44.6% | -$7K |
| Financing Cash Flow | $21.6M+785.7% | $2.4M+1722.0% | $134K-99.1% | $14.6M+34895.4% | $42K+11.5% | $37K+13.2% | $33K-99.8% | $18.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AIRJ Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -20.6% | N/A | -1.4%-2.3pp | 0.9%-4.6pp | 5.5% | N/A | 13.2%+7.3pp | 5.8% |
| Return on Assets | -16.8% | N/A | -1.1%-1.8pp | 0.7%-3.4pp | 4.1% | N/A | 9.3%+5.8pp | 3.5% |
| Current Ratio | 23.23+12.7 | 10.52-3.6 | 14.15+1.5 | 12.67-2.1 | 14.75+6.9 | 7.83+0.4 | 7.46-2.7 | 10.15 |
| Debt-to-Equity | 0.23-0.0 | 0.27-0.0 | 0.300.0 | 0.30-0.0 | 0.35-0.1 | 0.47+0.1 | 0.41-0.2 | 0.65 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
Is Airjoule Technologies Corp profitable?
No, Airjoule Technologies Corp (AIRJ) reported a net income of -$9.0M in fiscal year 2025.
What is Airjoule Technologies Corp's EBITDA?
Airjoule Technologies Corp (AIRJ) had EBITDA of -$13.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Airjoule Technologies Corp's return on equity (ROE)?
Airjoule Technologies Corp (AIRJ) has a return on equity of -3.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Airjoule Technologies Corp's free cash flow?
Airjoule Technologies Corp (AIRJ) generated -$5.7M in free cash flow during fiscal year 2025. This represents a 76.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Airjoule Technologies Corp's operating cash flow?
Airjoule Technologies Corp (AIRJ) generated -$5.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Airjoule Technologies Corp's total assets?
Airjoule Technologies Corp (AIRJ) had $340.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Airjoule Technologies Corp's capital expenditures?
Airjoule Technologies Corp (AIRJ) invested $18K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Airjoule Technologies Corp spend on research and development?
Airjoule Technologies Corp (AIRJ) invested $1.0M in research and development during fiscal year 2025.
What is Airjoule Technologies Corp's current ratio?
Airjoule Technologies Corp (AIRJ) had a current ratio of 10.52 as of fiscal year 2025, which is generally considered healthy.
What is Airjoule Technologies Corp's debt-to-equity ratio?
Airjoule Technologies Corp (AIRJ) had a debt-to-equity ratio of 0.27 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Airjoule Technologies Corp's return on assets (ROA)?
Airjoule Technologies Corp (AIRJ) had a return on assets of -2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Airjoule Technologies Corp's cash runway?
Based on fiscal year 2025 data, Airjoule Technologies Corp (AIRJ) had $21.8M in cash against an annual operating cash burn of $5.6M. This gives an estimated cash runway of approximately 47 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Airjoule Technologies Corp's Piotroski F-Score?
Airjoule Technologies Corp (AIRJ) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Airjoule Technologies Corp's earnings high quality?
Airjoule Technologies Corp (AIRJ) has an earnings quality ratio of 0.62x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Airjoule Technologies Corp?
Airjoule Technologies Corp (AIRJ) scores 46 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.