Aquabounty Technologies Inc Financials
This page shows Aquabounty Technologies Inc (AQB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).
Cash burn outlasted the balance sheet, turning a once cash-funded buildout after heavy reinvestment into a business with negative equity.
Between FY2023 and FY2025, operating cash burn fell to-$8.7M from-$24.2M , showing some cost reduction. But total assets fell to$10.3M from$187.6M and equity turned negative, so the smaller loss came alongside a much smaller balance sheet rather than a fully funded operating base.
Cash dropped from
FY2024's net loss of
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 Aquabounty Technologies Inc'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.
Aquabounty Technologies Inc carries a low D/E ratio of -1.84, meaning only $-1.84 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
Aquabounty Technologies Inc's current ratio of 1.18 is below the typical benchmark, resulting in a score of 19/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Aquabounty Technologies Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Aquabounty Technologies Inc generates $0.47 in operating cash flow (-$8.7M OCF vs -$18.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Aquabounty Technologies Inc earns $-19.5 in operating income for every $1 of interest expense (-$4.0M vs $206K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Aquabounty Technologies Inc reported -$18.5M in net income in fiscal year 2025. This represents an increase of 87.6% from the prior year.
Aquabounty Technologies Inc earned $-4.77 per diluted share (EPS) in fiscal year 2025. This represents an increase of 87.7% from the prior year.
Cash & Balance Sheet
Aquabounty Technologies Inc held $501K in cash against $3.5M in long-term debt as of fiscal year 2025.
Aquabounty Technologies Inc had 4M shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.
Margins & Returns
Capital Allocation
AQB 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 | $48K-73.5% | $180K |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | $425K-74.1% | $1.6M |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | -$377K+74.2% | -$1.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | $70K-8.4% | $77K |
| SG&A Expenses | $622K | N/A | $1.4M-20.2% | $1.8M+52.6% | $1.2M | N/A | $1.5M-52.1% | $3.1M |
| Operating Income | -$622K | N/A | -$1.5M+55.1% | -$3.3M-182.6% | -$1.2M | N/A | -$1.6M+94.5% | -$29.6M |
| Interest Expense | $300K | N/A | N/A | $91K | $0 | N/A | $1.0M+4.3% | $963K |
| Income Tax | $0 | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Net Income | -$1.2M | N/A | -$1.4M+59.1% | -$3.4M-940.9% | $401K | N/A | -$3.4M+93.3% | -$50.5M |
| EPS (Diluted) | $-0.26 | N/A | $-0.36+58.6% | $-0.87-890.9% | $0.11 | N/A | $-0.88+93.3% | $-13.08 |
AQB Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.2M-0.9% | $10.3M-57.2% | $24.2M-9.3% | $26.7M-9.5% | $29.4M-13.6% | $34.1M-71.1% | $117.8M-7.6% | $127.4M |
| Current Assets | $10.2M-0.8% | $10.3M+599.5% | $1.5M-62.6% | $3.9M-41.3% | $6.7M-40.7% | $11.3M-69.6% | $37.3M+1.6% | $36.7M |
| Cash & Equivalents | $441K-12.1% | $501K-47.3% | $951K+30.4% | $730K-46.6% | $1.4M+493.1% | $230K-54.0% | $500K-31.3% | $728K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | $466K+273.3% | $125K |
| 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 | $12.4M+1.2% | $12.2M+2.5% | $11.9M-8.5% | $13.0M+4.6% | $12.5M-31.6% | $18.2M+2.9% | $17.7M-26.5% | $24.1M |
| Current Liabilities | $8.6M-1.8% | $8.7M-26.7% | $11.9M-8.4% | $13.0M+4.7% | $12.4M-23.2% | $16.2M+30.8% | $12.4M-33.8% | $18.7M |
| Long-Term Debt | $3.8M+8.6% | $3.5M-55.9% | $7.9M-7.0% | $8.5M+678.5% | $1.1M-45.3% | $2.0M-62.3% | $5.3M+2.7% | $5.2M |
| Total Equity | -$2.1M-12.5% | -$1.9M-115.4% | $12.2M-10.1% | $13.6M-19.8% | $17.0M+7.1% | $15.8M-84.2% | $100.1M-3.2% | $103.3M |
| Retained Earnings | -$389.5M-0.3% | -$388.3M-3.8% | -$374.1M-0.4% | -$372.7M-0.9% | -$369.4M+0.1% | -$369.8M-29.4% | -$285.7M-1.2% | -$282.3M |
AQB Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.0M+67.9% | -$3.2M-92.5% | -$1.7M-6.7% | -$1.5M+34.4% | -$2.4M-111.9% | -$1.1M+72.2% | -$4.0M+7.4% | -$4.3M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | $256K-62.0% | $674K-22.9% | $874K |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | -$1.4M+70.7% | -$4.7M+10.0% | -$5.2M |
| Investing Cash Flow | N/A | $24K-99.0% | $2.5M+171.3% | $912K-75.5% | $3.7M+413.0% | $725K-91.7% | $8.7M+1298.7% | -$725K |
| Financing Cash Flow | $960K-64.5% | $2.7M+550.7% | -$600K | $0+100.0% | -$232K-286.7% | $124K+102.5% | -$4.9M-324.3% | $2.2M |
| 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 |
AQB 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 | -789.0%+21.8pp | -810.8% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | -3380.5%+13025.1pp | -16405.6% |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | -7120.2%+20914.9pp | -28035.1% |
| Return on Equity | N/A | N/A | -11.3%+13.5pp | -24.8%-27.1pp | 2.4% | N/A | -3.4%+45.5pp | -48.9% |
| Return on Assets | -11.7% | N/A | -5.7%+6.9pp | -12.7%-14.0pp | 1.4% | N/A | -2.9%+36.8pp | -39.6% |
| Current Ratio | 1.19+0.0 | 1.18+1.1 | 0.12-0.2 | 0.30-0.2 | 0.54-0.2 | 0.70-2.3 | 3.02+1.1 | 1.96 |
| Debt-to-Equity | -1.78+0.1 | -1.84-2.5 | 0.65+0.0 | 0.62+0.6 | 0.06-0.1 | 0.13+0.1 | 0.050.0 | 0.05 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | -9789.6%-6903.7pp | -2885.9% |
Note: Shareholder equity is negative (-$1.9M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
Is Aquabounty Technologies Inc profitable?
No, Aquabounty Technologies Inc (AQB) reported a net income of -$18.5M in fiscal year 2025.
How much debt does Aquabounty Technologies Inc have?
As of fiscal year 2025, Aquabounty Technologies Inc (AQB) had $501K in cash and equivalents against $3.5M in long-term debt.
What is Aquabounty Technologies Inc's operating cash flow?
Aquabounty Technologies Inc (AQB) generated -$8.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Aquabounty Technologies Inc's total assets?
Aquabounty Technologies Inc (AQB) had $10.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Aquabounty Technologies Inc's current ratio?
Aquabounty Technologies Inc (AQB) had a current ratio of 1.18 as of fiscal year 2025, which is considered adequate.
What is Aquabounty Technologies Inc's debt-to-equity ratio?
Aquabounty Technologies Inc (AQB) had a debt-to-equity ratio of -1.84 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Aquabounty Technologies Inc's return on assets (ROA)?
Aquabounty Technologies Inc (AQB) had a return on assets of -178.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Aquabounty Technologies Inc's cash runway?
Based on fiscal year 2025 data, Aquabounty Technologies Inc (AQB) had $501K in cash against an annual operating cash burn of $8.7M. This gives an estimated cash runway of approximately 1 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.
Why is Aquabounty Technologies Inc's debt-to-equity ratio negative or unusual?
Aquabounty Technologies Inc (AQB) has negative shareholder equity of -$1.9M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Aquabounty Technologies Inc's Piotroski F-Score?
Aquabounty Technologies Inc (AQB) has a Piotroski F-Score of 3 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 Aquabounty Technologies Inc's earnings high quality?
Aquabounty Technologies Inc (AQB) has an earnings quality ratio of 0.47x, 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.
Can Aquabounty Technologies Inc cover its interest payments?
Aquabounty Technologies Inc (AQB) has an interest coverage ratio of -19.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Aquabounty Technologies Inc?
Aquabounty Technologies Inc (AQB) scores 20 out of 100 on our Financial Profile, indicating weak 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.