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AirJoule Technologies
(NASDAQ:AIRJ)
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Rating:63Neutral
Price Target:
$5.00
▲(3.31% Upside)
Action:Reiterated
Date:08/18/26
AIRJ scores as a moderate-risk, early-stage story: financial performance is the biggest drag due to zero revenue, widening losses, and ongoing cash burn, despite a low-debt balance sheet. The score is supported by strong technical uptrend indicators and a generally positive earnings-call narrative around commercialization progress and a multi-year liquidity runway, while valuation remains difficult to justify given losses and no dividend signal.
Positive Factors
Low leverage and liquidity
The combination of no debt and substantial cash provides financial flexibility while AirJoule funds commercialization, the joint venture, and planned deployments. Management’s stated liquidity runway into 2028 reduces immediate refinancing pressure and gives the company time to convert technical progress into recurring revenue.
Negative Factors
No reported revenue and widening losses
Zero reported revenue and sharply wider losses show that AirJoule has not yet established a commercially productive earnings base. Until sales scale, ongoing development and operating costs will continue to pressure results, making future profitability dependent on successful product adoption and execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and liquidity
The combination of no debt and substantial cash provides financial flexibility while AirJoule funds commercialization, the joint venture, and planned deployments. Management’s stated liquidity runway into 2028 reduces immediate refinancing pressure and gives the company time to convert technical progress into recurring revenue.
Read all positive factors
AirJoule Technologies (AIRJ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$335.20M
Dividend YieldN/A
Average Volume (3M)1.60M
Price to Earnings (P/E)―
Beta (1Y)1.20
Revenue GrowthN/A
EPS Growth-290.79%
CountryUS
Employees16
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-1.30
Shares Outstanding73,347,400
10 Day Avg. Volume988,228
30 Day Avg. Volume1,596,668
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)0.87
Price to Sales (P/S)0.00
P/FCF Ratio-41.22
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-0.03
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$9.69Price Target Upside100.15% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-1.03
Revenue Forecast (FY)$366.67K
AirJoule Technologies Business Overview & Revenue Model
Company Description
AirJoule Technologies Corporation operates as an atmospheric renewable energy and water harvesting technology company. It provides energy and dehumidification, water harvesting systems, water recapture systems, evaporative heat pump systems, water...
How the Company Makes Money
Publicly verifiable, company-specific details on AirJoule Technologies’ (AIRJ) revenue model and current revenue streams are null. In general terms consistent with an atmospheric-water-harvesting technology company, potential ways the company coul...
AirJoule Technologies Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Positive
The call emphasized strong commercial progress and validation: exclusive channel partnerships (Kubota), technology deployments (Prime operating, Core showcased at GE Vernova and UAE), industry recognition (Net Zero Hub selection, Expo City green license), manufacturing preparation, and a multi-year cash runway into 2028. Near-term challenges include a reported net loss of $8.5M driven by noncash charges, increased cash burn guidance (~$27–28M for 2026, up from prior ~$25M), modest revenue expected in 2026, and execution dependence on partners and the JV. On balance, the company demonstrated tangible commercialization momentum and partner validation that outweigh the near-term financial and execution risks.Positive Updates
Exclusive Partnership with Kubota Unlocks Residential Market
Signed an exclusive sales agreement with Kubota for residential developments in Texas and California; deploying 2 AirJoule Core systems (Corpus Christi, TX and Irvine, CA) later this quarter for developer showcases. Kubota brings global scale and water-engineering expertise, enabling centralized community water generation to address permitting hurdles (California requires 20-year water verification). Market backdrop cited: Texas population projected to grow ~53% by 2080 and California could lose up to ~10% of water supply by 2040, increasing demand for on-site water solutions.
Negative Updates
Net Loss Driven by Noncash Charges
Reported a net loss of $8.5 million for the quarter, which included approximately $5.1 million of noncash losses related to increases in the fair value of earn-out share liabilities and subject vesting share liabilities. This materially affected the bottom line for the period.
Read all updates
Q2-2026 Updates
Positive
Negative
Exclusive Partnership with Kubota Unlocks Residential Market
Signed an exclusive sales agreement with Kubota for residential developments in Texas and California; deploying 2 AirJoule Core systems (Corpus Christi, TX and Irvine, CA) later this quarter for developer showcases. Kubota brings global scale and water-engineering expertise, enabling centralized community water generation to address permitting hurdles (California requires 20-year water verification). Market backdrop cited: Texas population projected to grow ~53% by 2080 and California could lose up to ~10% of water supply by 2040, increasing demand for on-site water solutions.
Read all positive updates
Company Guidance
Management updated financial and operational guidance and key metrics: Q2 net operating expenses were $4.1M (including $0.8M reimbursed), net loss $8.5M (including $5.1M of non‑cash fair‑value losses), and JV operating expenses were ~ $5M with AirJoule contributing $2.5M of additional JV capital; AirJoule ended Q2 with $41.4M cash (including $14.2M net proceeds from a June registered direct offering) and combined AJT+JV cash of ~$43M with no debt. Full‑year 2026 cash spend guidance was raised slightly to ~$27–28M to support accelerated commercialization, and management expects liquidity to fund operations, the JV and planned deployments into 2028; modest paid JV deployment revenue is expected in 2026 with more meaningful commercial revenue beginning in 2027. Operational targets highlighted include the Prime system trending toward ~2,000 liters/day and the Core DH targeting a ~1.2 million‑unit desiccant‑wheel market, with two Kubota Core deployments slated to start later this quarter (Corpus Christi, TX and Irvine, CA).AirJoule Technologies Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -11.20K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -102.52M | -27.28M | -11.18M | -11.35M | -2.77M | -2.31M |
| Net Income | -84.79M | -9.04M | 215.70M | -11.38M | -2.79M | -2.31M |
Balance Sheet | ||||||
| Total Assets | 306.84M | 340.64M | 369.85M | 556.13K | 295.97M | 293.83M |
| Cash, Cash Equivalents and Short-Term Investments | 41.42M | 21.85M | 28.02M | 375.80K | 1.29M | 2.84M |
| Total Debt | 107.11K | 124.00K | 154.23K | 49.54K | 0.00 | 0.00 |
| Total Liabilities | 58.20M | 72.70M | 117.74M | 6.46M | 11.86M | 11.77M |
| Stockholders Equity | 248.64M | 267.94M | 252.11M | -5.90M | 284.10M | 282.06M |
Cash Flow | ||||||
| Free Cash Flow | -7.25M | -5.65M | -24.28M | -5.20M | -2.85M | -1.90M |
| Operating Cash Flow | -7.23M | -5.63M | -24.26M | -5.10M | -2.85M | -1.89M |
| Investing Cash Flow | -20.28M | -17.77M | -10.02M | 0.00 | 167.55K | -13.02K |
| Financing Cash Flow | 38.43M | 17.23M | 61.93M | 265.30K | 4.97M | 4.54M |
AirJoule Technologies Technical Analysis
Neutral
4.84
Price Trends
4.82
Negative
4.41
Positive
3.88
Positive
Market Momentum
-0.16
Positive
42.31
Neutral
19.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AIRJ, the sentiment is Neutral. The current price of 4.84 is below the 20-day moving average (MA) of 5.19, above the 50-day MA of 4.82, and above the 200-day MA of 3.88, indicating a neutral trend. The MACD of -0.16 indicates Positive momentum. The RSI at 42.31 is Neutral, neither overbought nor oversold. The STOCH value of 19.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AIRJ.
AirJoule Technologies Risk Analysis
AirJoule Technologies disclosed 51 risk factors in its most recent earnings report. AirJoule Technologies 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
AirJoule Technologies Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $335.20M | -3.53 | -32.48% | ― | ― | -290.79% | |
49 Neutral | $1.20B | -4.36 | -22.15% | ― | 1.09% | 62.70% | |
48 Neutral | $1.35B | -2.05 | -144.49% | ― | 426.99% | 36.20% | |
46 Neutral | $94.49M | -7.56 | -59.21% | ― | -6.45% | -106.73% | |
46 Neutral | $161.77M | -9.12 | 64.26% | 0.90% | 0.86% | 17.02% | |
43 Neutral | $79.05M | -0.57 | -63.44% | ― | -52.63% | -7.51% |
* Industrials Sector Average
AIRJ
AirJoule Technologies
4.57
-0.17
-3.59%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.