Aqua Metals, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-4.5M | $-4.0M | $-4.4M | $-3.1M | $-6.8M | $-8.3M | $-7.4M | $-5.2M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $196.0K | $197.0K | $197.0K | $197.0K | $200.0K | $221.0K | $220.0K | $229.0K |
| Amortization | $15.0K | $15.0K | $17.0K | $17.0K | $18.0K | $18.0K | $18.0K | $27.0K |
| Stock-Based Compensation | $325.0K | $450.0K | $776.0K | $452.0K | $346.0K | $701.0K | $574.0K | $638.0K |
| Net Cash from Operating Activities | $-2.6M | $-3.8M | $-2.6M | $-2.3M | $-2.5M | $-2.8M | $-2.0M | $-3.6M |
| Investing Activities | ||||||||
| Capital Expenditures | $0 | $0 | $4.0K | $0 | $132.0K | $289.0K | $469.0K | $1.0M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $0 | $-2.0M | $-2.1M | $35.0K | $5.3M | $-375.0K | $-574.0K | $-1.3M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $558.0K | $1.9M | $11.9M | $4.0M | $-2.4M | $638.0K | $3.7M | $52.0K |
| Net Change in Cash | $-2.1M | $-4.0M | $7.2M | $1.7M | $344.0K | $-2.5M | $1.1M | $-4.9M |
| Free Cash Flow | $-2.6M | $-3.8M | $-2.6M | $-2.3M | $-2.7M | $-3.0M | $-2.5M | $-4.6M |