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374Water Inc. (the Company , 374Water , We , or Our ) is a cleantech and environmental services company developing supercritical water oxidation technology ( SCWO ) for the destruction of organic waste streams within the municipal, federal, and industrial markets. 374Water offers our proprietary AirSCWO technology, which is designed to destroy and mineralize a broad spectrum of non-haz…
The business is unprofitable at the operating level (-9834.15% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 51.7% YoY. Margins deteriorated 6959.9pp alongside, both lines moving the wrong way.
ROIC dropped from -65.52% to -141.75%, capital efficiency is deteriorating. Negative free cash flow of -$16M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$223K
▼ -51.7% YoY
Net Income (TTM)
-$22M
▼ -68.7% YoY
Op. Margin
-9843.40%
▼ -6959.9pp YoY
ROIC
-235.10%
▼ -76.2pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$16M
▼ -45.6% YoY
Op. Cash Flow (TTM)
-$13M
▼ -35.3% YoY
Net Debt
$1M
Cash & Equiv.
$452K
5Y CAGR: +40.0%
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