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374Water
(NASDAQ:SCWO)
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Rating:49Neutral
Price Target:
$2.50
▼(-6.72% Downside)
Action:Reiterated
Date:10/01/26
The score is held down primarily by weak financial performance—negative gross profit, heavy losses, significant cash burn, and higher leverage. Technicals are more constructive on a medium-term basis (price above key longer-term moving averages) but near-term momentum is neutral/soft. Valuation support is limited because the company is unprofitable (negative P/E) and no dividend yield is available.
Positive Factors
Revenue Rebound
The sharp trailing-twelve-month revenue rebound indicates improving commercialization activity and greater customer adoption of 374Water’s technology. If sustained, a larger revenue base can improve operating leverage, support deployment scale, and strengthen the company’s ability to convert its offering into a repeatable business.
Negative Factors
Persistent Unprofitability
Negative gross profit and losses far exceeding revenue show that the current business has not yet reached economic scale. Until pricing, project execution, and recurring service contribution improve enough to cover costs, growth may continue to require external funding and may not translate into durable earnings power.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Rebound
The sharp trailing-twelve-month revenue rebound indicates improving commercialization activity and greater customer adoption of 374Water’s technology. If sustained, a larger revenue base can improve operating leverage, support deployment scale, and strengthen the company’s ability to convert its offering into a repeatable business.
Read all positive factors
374Water (SCWO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$48.82M
Dividend YieldN/A
Average Volume (3M)53.92K
Price to Earnings (P/E)―
Beta (1Y)0.76
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees48
SectorIndustrials
Sector Strength72
IndustryIndustrial - Pollution & Treatment Controls
Share Statistics
EPS (TTM)-1.26
Shares Outstanding17,624,750
10 Day Avg. Volume36,795
30 Day Avg. Volume53,924
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)4.62
Price to Sales (P/S)144.49
P/FCF Ratio-1.92
Enterprise Value/Market Cap0.73
Enterprise Value/Revenue18.94
Enterprise Value/Gross Profit-13.70
Enterprise Value/Ebitda-1.90
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.4
Revenue Forecast (FY)$54.60M
374Water Business Overview & Revenue Model
Company Description
374Water Inc. provides a technology that transforms wet wastes into recoverable resources in the United States. The company transforms wet wastes, including sewage sludge, biosolids, food waste, hazardous and non-hazardous waste, and forever chemi...
How the Company Makes Money
374Water’s revenue model is based on commercializing its SCWO technology through a combination of (a) sale of treatment systems and associated engineering/integration work, (b) recurring service revenue tied to operating, maintaining, and supporti...
374Water Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted significant revenue growth, successful partnerships, and future revenue projections, indicating a positive trajectory. However, these were tempered by increased operating expenses, net loss, and Nasdaq compliance issues, creating a balance between positive progress and financial challenges.Positive Updates
Revenue Growth
Revenue for Q3 2025 increased to $760,000 compared to $81,000 in the prior year, primarily from waste destruction services.
Negative Updates
Increased Operating Expenses
Total operating expenses increased 64% to $4.6 million in Q3 2025 compared to $2.8 million in the prior year.
Read all updates
Q3-2025 Updates
Positive
Negative
Revenue Growth
Revenue for Q3 2025 increased to $760,000 compared to $81,000 in the prior year, primarily from waste destruction services.
Read all positive updates
Company Guidance
During the 374Water Third Quarter 2025 financial results conference call, the company provided guidance indicating a promising outlook for 2026 with expected revenues between $6 to $8 million, reflecting a 50% to 100% increase over anticipated 2025 revenues. The company is focusing on waste destruction services, capital sales of equipment, and leasing options to drive growth. They reported a significant revenue increase in Q3 2025 to $760,000, up from $81,000 in the prior year, primarily due to a rise in service revenues. Operating expenses rose by 64% to $4.6 million, leading to a net loss of $4.3 million for the quarter. The company also highlighted its cash position, with cash and cash equivalents at $900,000 as of September 30, 2025, bolstered by a $7 million raise from an ATM facility, sustaining operations into Q2 2026. 374Water is actively pursuing additional capital to support strategic growth initiatives and aims for a potential breakeven in operating income by 2027, contingent on the pace of market expansion and deal execution.374Water Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
28
Negative
Cash Flow
12
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.89M | 215.04K | 445.44K | 743.95K | 3.02M | 48.10K |
| Gross Profit | -2.61M | -2.35M | -912.71K | -1.11M | 336.50K | 48.10K |
| EBITDA | -18.82M | -20.18M | -12.60M | -8.02M | -4.62M | -3.12M |
| Net Income | -19.96M | -20.98M | -12.43M | -8.10M | -4.69M | -3.16M |
Balance Sheet | ||||||
| Total Assets | 13.00M | 11.41M | 19.18M | 16.12M | 9.92M | 12.41M |
| Cash, Cash Equivalents and Short-Term Investments | 1.78M | 3.20M | 10.65M | 10.45M | 5.99M | 11.13M |
| Total Debt | 4.06M | 1.22M | 652.70K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 10.01M | 4.68M | 3.71M | 1.37M | 1.66M | 86.37K |
| Stockholders Equity | 2.99M | 6.72M | 15.47M | 14.75M | 8.25M | 12.33M |
Cash Flow | ||||||
| Free Cash Flow | -11.25M | -16.22M | -11.24M | -9.15M | -5.15M | -1.84M |
| Operating Cash Flow | -9.00M | -14.33M | -10.59M | -9.03M | -4.95M | -1.84M |
| Investing Cash Flow | -2.25M | -1.90M | -653.54K | 1.85M | -2.16M | 28.34K |
| Financing Cash Flow | 10.88M | 8.77M | 11.45M | 13.58M | 25.05K | 12.87M |
374Water Technical Analysis
Negative
2.68
Price Trends
2.74
Negative
2.48
Positive
2.60
Positive
Market Momentum
<0.01
Positive
39.76
Neutral
12.70
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SCWO, the sentiment is Negative. The current price of 2.68 is below the 20-day moving average (MA) of 3.02, below the 50-day MA of 2.74, and above the 200-day MA of 2.60, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 39.76 is Neutral, neither overbought nor oversold. The STOCH value of 12.70 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SCWO.
374Water Risk Analysis
374Water disclosed 1 risk factors in its most recent earnings report. 374Water reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
374Water 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% | |
53 Neutral | $52.13M | -14.86 | -8.88% | ― | 8.89% | -6.47% | |
49 Neutral | $48.82M | -2.11 | -401.94% | ― | ― | ― | |
48 Neutral | $22.46M | -3.59 | -58.08% | ― | 82.74% | 17.79% | |
46 Neutral | $12.62M | -3.08 | -326.60% | ― | 11.42% | 13.68% | |
45 Neutral | $9.49M | 60.68 | 1.01% | 4.65% | -13.77% | -78.34% | |
43 Neutral | $16.21M | -0.55 | -68.70% | ― | -0.17% | 37.55% |
* Industrials Sector Average
SCWO
374Water
2.66
-4.34
-62.00%
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374Water Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
374Water Implements Major Share Authorization and Governance Changes
Positive
Sep 30, 2026
On September 25, 2026, 374Water Inc. reconvened its 2026 virtual Annual Meeting of Stockholders after an initial session on September 18 lacked a quorum, ultimately securing sufficient shareholder participation to vote on director elections and ke...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
374Water Appoints Veteran Finance Executive as New CFO
Positive
Jul 8, 2026
On July 1, 2026, 374Water Inc. appointed board member and veteran finance executive Charles Weiser as Chief Financial Officer, formalizing his role under a new employment agreement that includes salary, bonus eligibility and equity awards structur...
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.