374Water Reports Preliminary Second Quarter 2026 Revenue of $2.2M and Advances Commercial Deployments Across Municipal and Federal Markets

374Water (NASDAQ:SCWO) reported preliminary second quarter 2026 revenue of more than $2.2 million, up from $0.6 million in 2025, with first-half 2026 revenue exceeding $2.8 million versus $1.1 million a year earlier.

Rhea-AI Summary

374Water (NASDAQ:SCWO) reported preliminary second quarter 2026 revenue of more than $2.2 million, up from $0.6 million in 2025, with first-half 2026 revenue exceeding $2.8 million versus $1.1 million a year earlier. According to 374Water, growth was driven largely by approximately $2.0 million recognized following a successful Factory Acceptance Test (FAT) for the Orange County Sanitation District (OC San) AirSCWO system.

The completed OC San FAT positions the company to invoice about $2.6 million in remaining contract billings and recognize roughly $1.1 million in additional revenue as milestones are met. 374Water also received a $4.8 million order from Olathe, KS, advanced a $600,000 St. Cloud, MN pilot to Phase III, and expanded its Orlando Waste Destruction Services hub to approximately 88,000 gallons of storage capacity. The company entered a strategic MOU with Arcadis focused on federal PFAS destruction opportunities and appointed Charles “Chuck” Weiser as Chief Financial Officer and Richard “Rick” Davis to the Board.

Positive

• Q2 2026 revenue >$2.2M vs. $0.6M in 2025
• First-half 2026 revenue >$2.8M vs. $1.1M in 2025
• OC San Factory Acceptance Test enables $2.6M remaining billings and $1.1M revenue
• New equipment order from Olathe, KS worth $4.8M
• St. Cloud, MN WDS pilot valued at $600,000 now in Phase III
• Expanded Orlando WDS hub with about 88,000 gallons waste storage capacity
• Strategic MOU with Arcadis targeting federal and industrial PFAS destruction markets

Negative

• None.

News Explained

374Water has completed Orange County Sanitation District’s factory acceptance test, but deployment and commissioning are planned for October 2026. The project therefore remains between factory acceptance and operational delivery, with $2.6 million of billings and $1.1 million of revenue tied to completing operational milestones.

Argus Aug 11 session 13 alerts

+7.44% close to close 4.3x rel. volume Open Argus

Details

Market move: SCWO +7.44% in the Aug 11 session. 2Q26 earnings report

+6.2% Peak in 4 hr 7 min

$41.64M Market Cap

On Aug 11, the day this news came out, SCWO closed 7.44% above the previous close. Argus tracked a peak move of +6.2% during that session. Our momentum scanner recorded 13 alerts for this stock that day. Relative volume reached 4.3x the daily average during tracking.

Data tracked by StockTitan Argus for the Aug 11 session.

Key Figures

Q2 revenue: $2.2M vs. $0.6M First-half revenue: $2.8M vs. $1.1M Recognized revenue: $2.0M +5 more

Q2 revenue

$2.2M vs. $0.6M

Q2 2026 preliminary revenue versus Q2 2025

First-half revenue

$2.8M vs. $1.1M

First half of 2026 versus the same period last year

Recognized revenue

$2.0M

Following the Orange County Sanitation District Factory Acceptance Test

Remaining billings

$2.6M

Orange County Sanitation District contract

Remaining contract revenue

$1.1M

Orange County Sanitation District project

Olathe order

$4.8M

Order from Olathe, Kansas

St. Cloud pilot

$600,000

Mobile Waste Destruction Services pilot project

Waste storage capacity

88,000 gallons

Orlando Waste Destruction Services hub

Previous Earnings Reports

5 past events · Latest: Mar 31

Same Type 5 events

1. Mar 31

   full-year earnings

   24h Move

   +1.8%

   Revenue declined while operating expenses and net loss increased.

2. Nov 12

   third-quarter earnings

   24h Move

   -21.6%

   Despite revenue growth, net loss, expenses, and financing concerns weighed on results.

3. Aug 12

   second-quarter earnings

   24h Move

   -2.7%

   Revenue increased, but net loss widened and cash declined year over year.

4. May 15

   first-quarter earnings

   24h Move

   +11.3%

   Revenue rose, but net loss and operating expenses increased substantially.

5. Mar 27

   fourth-quarter earnings

   24h Move

   -6.3%

   Annual revenue declined, losses increased, and a registered direct offering was completed.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

supercritical water oxidation, pfas, factory acceptance test, mou

4 terms

supercritical water oxidation technical

"deploying supercritical water oxidation technology for the permanent destruction"

Supercritical water oxidation is a process that uses extremely hot and pressurized water to break down waste materials into harmless substances, such as carbon dioxide and water. It is considered an efficient and environmentally friendly method for treating hazardous waste streams. For investors, advancements or increased adoption of this technology can signal growth opportunities in waste management and environmental services sectors.

pfas technical

"including PFAS through its proprietary AirSCWO technology"

PFAS are a group of human-made chemicals used in many everyday products, such as non-stick cookware, water-repellent clothing, and food packaging, because they resist heat, water, and grease. They are often called "forever chemicals" because they do not break down easily in the environment or the human body, potentially leading to health concerns. For investors, the presence of PFAS-related risks can impact companies’ reputations, legal liabilities, and future costs.

factory acceptance test technical

"Successfully completing the Orange County Sanitation District Factory Acceptance Test"

A factory acceptance test is a final, documented set of checks and demonstrations performed at the manufacturer’s site to prove that equipment or a system meets the buyer’s technical specifications and will operate as promised before it is shipped. Think of it like a thorough test drive and inspection before taking delivery; for investors it reduces the risk of costly delays, extra fixes, or performance shortfalls that can affect project timelines and budgets.

mou regulatory

"executed a MOU with Arcadis to pursue federal PFAS destruction opportunities"

A memorandum of understanding (MOU) is a written agreement that outlines the basic terms and shared intentions between parties before a formal contract is drawn up. Think of it as a detailed handshake that signals commitment to work together; for investors it matters because an MOU can indicate a likely future deal, partnership or transaction that could affect a company’s strategy, revenues or risks, even though it often lacks full legal force.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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374Water's 2026 first half revenue exceeds $2.8M, more than doubling the Company's revenue for the same period last year.

MORRISVILLE, NC / ACCESS Newswire / August 11, 2026 / 374Water Inc. (NASDAQ:SCWO) ("374Water" or the "Company"), a leading cleantech environmental services company deploying supercritical water oxidation technology for the permanent destruction of organic waste including PFAS through its proprietary AirSCWO™ technology, today provided a business update in advance of reporting its financial results for the second quarter ended June 30, 2026. The Company will release its complete financial results on August 14, 2026.

"The second quarter of 2026 has been about building towards long-term growth from a strong technical and operational foundation," said Danny Bogar, Chief Executive Officer of 374Water. "Since I assumed the role of CEO earlier this year, our team has remained focused on alignment and execution. We are converting years of technology development into rapidly growing revenue, more deployed systems, long-term contracts, and durable partnerships. We have expanded our flagship Waste Destruction Services hub in Orlando, executed a MOU with Arcadis to pursue federal PFAS destruction opportunities, completed a rigorous government PFAS demonstration with the Department of Defense validated by independent results, and cleared a critical Factory Acceptance Test for California's Orange County Sanitation District."

"While there is still significant work ahead, I believe the progress we've made positions 374Water to capitalize on the growing demand for permanent destruction solutions. As society and regulatory pressures increase, customers will seek proven, scalable solutions for the destruction of harmful and persistent pollutants. The second half of 2026 will be about creating additional partnerships, expanding our facility and capacity in Orlando, and commercializing our AFFF waste destruction services."

Second Quarter and Recent Business Highlights

• Preliminary second quarter revenue exceeded $2.2M vs. $0.6M in 2025, driven by approximately $2.0M recognized following the OC San Factory Acceptance Test

• Preliminary first half revenue of approximately $2.8M vs. $1.1M in 2025

• Continued progress on commercial equipment sales and deliveries, including:

  1. Successfully completing the Orange County Sanitation District ("OC San") Factory Acceptance Test, a key commercial milestone that positions the Company to invoice approximately $2.6M in remaining contract billings, while supporting revenue recognition of approximately $1.1M of remaining contract value.

  2. Receiving an order for $4.8M from Olathe, KS,

  3. Deploying an AirSCWO mobile system to St. Cloud, MN for a $600,000 pilot project which is now in its third phase, and

  4. Expanding the Waste Destruction Services ("WDS") facility in Orlando, FL.

• The company also continues discussions with strategic industry participants regarding project development, commercial partnerships, and infrastructure capital opportunities.

Expanding the Waste Destruction Services Platform

The Orlando regional hub is designed as the Company's first recurring-revenue waste destruction facility. As customer volumes increase, management believes the facility will become a scalable cash-generating asset supporting municipal, industrial, and federal customers while serving as the blueprint for future regional Waste Destruction Services hubs. The Orlando WDS hub now includes approximately 88,000 gallons of waste storage capacity, allowing the Company to receive and stage significantly larger volumes of PFAS-contaminated waste.

Management believes the Orlando Waste Destruction facility has the potential to generate multi-million-dollar annual recurring revenues as customer contracts are secured and processing volumes ramp up.

Arcadis MOU Establishes Commercial Framework for Federal PFAS Destruction

During the quarter, 374Water announced a strategic relationship with Arcadis, one of the world's leading engineering and environmental consulting firms. This collaboration is expected to accelerate commercial opportunities primarily across the Federal and Industrial markets by combining Arcadis' global engineering capabilities with 374Water's destruction technology.

Management believes the U.S. government's need to destroy PFAS-containing waste, including AFFF and other contaminated materials, represents a multi-billion-dollar long-term remediation market. Through its collaboration with Arcadis and successful Department of Defense demonstration programs, the Company is positioning itself to compete for future federal destruction projects as procurement opportunities emerge.

Factory Acceptance Test and Delivery Scheduled for OC Sanitation District

374Water completed the Factory Acceptance Test ("FAT") for its AirSCWO system as part of the delivery and deployment milestones for Orange County Sanitation District ("OC San"). Completion of the Factory Acceptance Test activates the next phase of the project, positioning the Company to recognize the remaining $1.1 million in revenue while receiving $2.6 million in remaining billings, as operational milestones are completed. The Company and OC San have planned for the deployment of the 374Water commissioning team and system in October of this year.

Together with active projects in Orlando, St. Cloud, and Olathe, 374Water continues to build a growing portfolio of municipal reference installations that management believes will support future commercial growth across North America.

Leadership and Governance

374Water appointed Charles "Chuck" Weiser, CPA, as Chief Financial Officer. Mr. Weiser succeeds Adrienne Anderson, who served as Interim Chief Financial Officer and will continue to support the Company.

The Board appointed Richard "Rick" Davis to the Board of Directors. Mr. Davis previously served on the Board from 2021 through June 2025 and, is the former Chief Executive Officer of PowerVerde.

Looking Ahead

"We are working to build a Company that delivers - safely, consistently, transparently, and with urgency," said Bogar. "Our commercial momentum is translating into greater revenue visibility. We have approximately $2.6 million remaining to be invoiced under the OC San contract. Our $600,000 St. Cloud WDS pilot is in Phase III, and we hope to expand that relationship going forward. In addition, with over $4.8M expected from our Olathe, KS contract, an expanded Orlando destruction hub, and multiple strategic collaborations advancing, we believe we are building a foundation for recurring growth. "As we strengthen our balance sheet, align with strategic partners such as Arcadis, and bring new customers to our Orlando hub, we believe the market will recognize the value of 374Water. The opportunity in front of us is significant. Our job now is to execute."

About 374Water

374Water Inc. (NASDAQ:SCWO) is a global industrial technology and services company providing innovative solutions addressing wastewater treatment and waste management issues within the industrial, municipal, and federal markets. 374Water's AirSCWO technology is designed to efficiently destroy and mineralize a broad spectrum of nonhazardous and hazardous organic wastes, producing safe dischargeable water streams, safe mineral effluent, safe vent gas, and recoverable heat energy. 374Water's AirSCWO technology has the potential to assist its customers to meet discharge requirements, reduce or eliminate disposal costs, remove bottlenecks, and reduce litigation and other risks. 374Water continues to be a leader in innovative waste treatment solutions, dedicated to creating a greener future and eradicating harmful pollutants. Learn more by visiting www.374water.com and follow us on LinkedIn.

Forward-Looking Statements

Certain statements in this communication are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "anticipate," "believe," "confidence," "could," "design," "estimate," "expect," "intend," "may," "plan," "predict," "project," "potential," or other comparable terminology are intended to identify forward-looking statements. 374Water has based these forward-looking statements on its current expectations, assumptions, estimates, beliefs, and projections. While 374Water believes these expectations, assumptions, estimates, and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the 374Water's control. These forward-looking statements are subject to risks and uncertainties, including those discussed under "Risk Factors" in 374Water's Form 10-k for the year ended December 31, 2025, and in 374Water's subsequent filings and reports with the SEC. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by laws, 374Water disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations Contact

Belton Copp
Vice President
Direct: 401-419-1545
Belton.Copp@374water.com
www.374Water.com

SOURCE: 374Water Inc.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What revenue did 374Water (NASDAQ:SCWO) report for Q2 2026?

374Water reported preliminary Q2 2026 revenue of more than $2.2 million. According to 374Water, this compares to about $0.6 million in the second quarter of 2025 and was driven largely by revenue recognized after the Orange County Sanitation District Factory Acceptance Test.

How did 374Water’s first-half 2026 revenue compare to 2025?

374Water’s preliminary first-half 2026 revenue exceeded $2.8 million, up from about $1.1 million in 2025. According to 374Water, this more than doubled year-ago levels, reflecting growth from commercial deployments, including the OC San project and Waste Destruction Services activities.

What is the value of 374Water’s contract with Orange County Sanitation District (OC San)?

According to 374Water, completion of the OC San Factory Acceptance Test supports recognition of approximately $1.1 million in remaining contract revenue and positions the company to invoice about $2.6 million in remaining billings as further deployment milestones are achieved.

What new municipal contracts did 374Water (SCWO) secure in Olathe and St. Cloud?

374Water received an equipment order from Olathe, Kansas valued at about $4.8 million and is running a $600,000 Waste Destruction Services pilot in St. Cloud, Minnesota. According to 374Water, the St. Cloud pilot has progressed to its third phase during 2026.

How is 374Water expanding its Orlando Waste Destruction Services hub?

374Water expanded its Orlando Waste Destruction Services hub to roughly 88,000 gallons of waste storage capacity. According to 374Water, the site is designed as its first recurring-revenue destruction facility and a blueprint for future regional hubs serving municipal, industrial, and federal customers.

What is the purpose of 374Water’s MOU with Arcadis announced in 2026?

The MOU with Arcadis aims to pursue PFAS destruction opportunities, primarily in federal and industrial markets. According to 374Water, the collaboration combines Arcadis’ engineering capabilities with its AirSCWO technology to compete for future government and industrial remediation projects involving PFAS-containing waste.

Who are the new leadership appointments at 374Water in 2026?

374Water appointed Charles “Chuck” Weiser, CPA, as Chief Financial Officer and added Richard “Rick” Davis to its Board of Directors. According to 374Water, Weiser succeeds interim CFO Adrienne Anderson, while Davis previously served on the Board from 2021 through June 2025.