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Aqua Metals (AQMS)
NASDAQ:AQMS
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Aqua Metals
(NASDAQ:AQMS)
36Underperform
Aqua Metals (AQMS) vs. S&P 500 (SPY)
Market Cap
$9.79M
Dividend YieldN/A
Average Volume (3M)141.65K
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue Growth-100.00%
EPS Growth24.94%
CountryUS
Employees11
SectorIndustrials
Sector Strength91
IndustryWaste Management
Share Statistics
EPS (TTM)-1.03
Shares Outstanding8,896,350
10 Day Avg. Volume250,033
30 Day Avg. Volume141,648
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.46
Price to Sales (P/S)0.00
P/FCF Ratio-0.31
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue67.29
Enterprise Value/Gross Profit-1.14
Enterprise Value/Ebitda-0.09
Forecast
1Y Price Target
$3.00Price Target Upside206.12% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Aqua Metals Business Overview & Revenue Model
Company DescriptionAqua Metals, Inc. engages in the recycling of lead primarily in the United States. It produces and sells hard lead, lead compounds, and plastics. Aqua Metals, Inc. was incorporated in 2014 and is headquartered in Reno, Nevada.
How the Company Makes MoneyAqua Metals generates revenue primarily through the licensing and deployment of its AquaRefining™ technology, which is used by recycling facilities to process lead and other metals in a more sustainable manner. The company earns money by selling equipment and licensing its technology to third-party recyclers, who pay fees based on the amount of material processed using AquaRefining. Additionally, Aqua Metals may generate revenue from partnerships and joint ventures aimed at expanding its technology's reach and application. The company's focus on innovation and sustainability positions it to benefit from increasing regulatory and market demand for greener recycling solutions.
Aqua Metals Financial Statement Overview
Summary
Aqua Metals is facing significant financial challenges with negative revenue growth and operational losses. The balance sheet shows reasonable leverage, but profitability metrics are poor. Cash flow issues are evident, with negative free cash flow and operational difficulties impacting liquidity.Income Statement
Aqua Metals has been struggling with negative revenue growth, with consistent losses over the years. The company has not generated substantial revenue recently, and both EBIT and EBITDA margins are deeply negative, indicating significant operational challenges and inefficiencies.15
Very Negative
Balance Sheet
The company's debt-to-equity ratio is relatively low, indicating manageable levels of debt compared to equity. However, the negative net income results in a poor return on equity, reflecting inefficiencies in generating profit from shareholders' investments. The equity ratio is moderate, suggesting a balanced capital structure.30
Negative
Cash Flow
Free cash flow has been substantially negative, and operating cash flow to net income ratio indicates operational difficulties. While investing cash flow shows efforts towards investment, the negative free cash flow to net income ratio highlights challenges in converting earnings into cash.20
Very Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 0.00 | 25.00K | 4.00K | 173.00K | 108.00K | Gross Profit |
| 0.00 | -6.26M | -3.96M | -6.84M | -5.37M | EBIT |
| -23.85M | -24.46M | -15.58M | -17.46M | -15.39M | EBITDA |
| -23.85M | -22.05M | -14.24M | -16.85M | -21.68M | Net Income Common Stockholders |
| -24.55M | -23.94M | -15.43M | -18.19M | -25.76M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 4.08M | 16.52M | 7.08M | 8.14M | 6.53M | Total Assets |
| 26.36M | 33.60M | 33.50M | 33.27M | 35.14M | Total Debt |
| 4.27M | 3.23M | 6.48M | 718.00K | 1.19M | Net Debt |
| 192.00K | -13.29M | -601.00K | -7.42M | -5.34M | Total Liabilities |
| 10.12M | 7.54M | 12.59M | 5.74M | 4.00M | Stockholders Equity |
| 16.24M | 26.06M | 20.92M | 27.53M | 31.14M |
| Cash Flow | Free Cash Flow | |||
| -21.55M | -13.08M | -14.92M | -9.96M | -14.39M | Operating Cash Flow |
| -13.63M | -3.19M | -10.15M | -7.62M | -11.03M | Investing Cash Flow |
| -11.64M | -9.81M | -3.42M | -2.23M | 6.63M | Financing Cash Flow |
| 12.82M | 22.45M | 12.51M | 11.45M | 3.35M |
Aqua Metals Technical Analysis
Negative
0.98
Price Trends
1.57
Negative
1.84
Negative
2.58
Negative
Market Momentum
-0.16
Negative
34.45
Neutral
52.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AQMS, the sentiment is Negative. The current price of 0.98 is below the 20-day moving average (MA) of 1.20, below the 50-day MA of 1.57, and below the 200-day MA of 2.58, indicating a bearish trend. The MACD of -0.16 indicates Negative momentum. The RSI at 34.45 is Neutral, neither overbought nor oversold. The STOCH value of 52.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AQMS.
Aqua Metals Risk Analysis
Aqua Metals disclosed 28 risk factors in its most recent earnings report. Aqua Metals reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Aqua Metals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $4.44B | 11.99 | 5.16% | 249.23% | 4.01% | -11.87% | |
61 Neutral | $9.28M | 11.63 | 2.21% | ― | <0.01% | ― | |
47 Neutral | $182.79M | ― | -41.10% | ― | -28.62% | -543.45% | |
46 Neutral | $52.00M | ― | -44.84% | ― | -0.91% | -305.99% | |
36 Underperform | $9.79M | ― | -167.48% | ― | -100.00% | 24.94% |
* Industrials Sector Average
Performance Comparison
AQMS
Aqua Metals
0.98
-7.34
-88.22%
AWX
Avalon Holdings
2.36
0.00
0.00%
PESI
Perma-Fix
10.31
-1.18
-10.27%
QRHC
Quest Resource
2.37
-6.99
-74.68%
GWAV
Greenwave Technology Solutions
0.21
-8.63
-97.62%
AMBI
Ambipar Emergency Response
4.59
1.27
38.25%
Aqua Metals Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: -10.91%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a strategic pivot by Aqua Metals to enhance their product offerings and improve operational efficiency. While they have achieved significant milestones in product line expansion and recycling breakthroughs, they are also grappling with financial challenges such as increased net loss and impairment charges. The sale of Sierra ARC is a strategic move to manage debt and conserve cash, positioning the company to better navigate current market conditions.Q1-2025 Updates
Positive Updates
Product Line Expansion
Aqua Metals produced initial samples of nickel carbonate and mixed hydroxide precipitate, which unlock new revenue opportunities and enhance value propositions for partners.
LFP Recycling Breakthrough
Completed engineering analysis and demonstration for lithium recovery from LFP batteries, allowing the handling of a 50% NMC and 50% LFP input blend, doubling lithium carbonate output.
Purity and Performance Advancements
Improved battery-grade lithium carbonate assays to meet specific customer specifications, strengthening Aqua Metals' position as a trusted supplier.
Debt Retirement and Cash Conservation
Sale of Sierra ARC property to retire all debt, generating cash reserves and reducing holding costs by approximately $100,000 per month.
Negative Updates
Impairment Charge
A non-cash impairment charge of approximately $5.2 million related to the Sierra ARC facility due to a strategic shift and revised capital allocation priorities.
Net Loss Increase
Net loss for the quarter was approximately $8.3 million, compared to a net loss of $5.5 million in the same period last year.
Reduced Cash Position
Ended the quarter with total cash of approximately $1.6 million.
Company Guidance
During the Aqua Metals' First Quarter Financial Results Call, several key metrics and strategic decisions were highlighted, which are expected to shape the company's financial and operational trajectory. Aqua Metals recorded a net loss of approximately $8.3 million or a negative $1.03 per basic and diluted share for the three months ending March 31, 2025, compared to a net loss of $5.5 million or a negative $1.05 per share for the same period in 2024. The company ended the quarter with a cash balance of $1.6 million and plans to bolster its financial position by selling the Sierra ARC property, which is anticipated to retire all existing debt and reduce holding costs by approximately $100,000 per month. Operationally, Aqua Metals achieved significant milestones, including producing initial samples of nickel carbonate and mixed hydroxide precipitate and advancing its lithium recovery process from LFP batteries. These developments broaden the company's product line and enhance its value proposition to potential partners. The company is actively engaging with potential financial and strategic partners to secure funding for its first commercial arc, with a focus on optimizing plant economics and exploring co-location opportunities to improve capital and operational efficiencies.Aqua Metals Corporate Events
Executive/Board Changes
Aqua Metals CFO Judd Merrill to Resign
Neutral
May 1, 2025
On April 25, 2025, Aqua Metals announced that Judd Merrill, the Chief Financial Officer, will resign effective May 16, 2025, following the filing of the company’s quarterly report. To ensure a smooth transition, Merrill will continue to provide financial and accounting support as a consultant until August 2025.
Spark’s Take on AQMS Stock
According to Spark, TipRanks’ AI Analyst, AQMS is a Underperform.
Aqua Metals faces significant financial and operational challenges, marked by negative revenue growth and persistent losses. While there are promising strategic initiatives and technological advancements, these are overshadowed by the immediate financial hurdles and bearish technical indicators. The overall stock score reflects these substantial risks, tempered slightly by strategic partnerships and board enhancements.
To see Spark’s full report on AQMS stock, click here.
Executive/Board ChangesBusiness Operations and Strategy
Aqua Metals Strengthens Board with New Appointments
Positive
Feb 7, 2025
On February 3, 2025, Aqua Metals appointed Steve Henderson and Eric Gangloff to its Board of Directors. With extensive experience in automotive, specialty chemicals, manufacturing, and finance, Henderson and Gangloff bring strategic expertise to support the company’s growth and commercialization strategy. Their addition is expected to aid Aqua Metals in advancing its AquaRefining™ process, strengthening industry reach, securing financing, and expanding commercial partnerships to enhance its position in the battery recycling and critical minerals production market.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.