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AIRJ

AirJoule Technologies Corporation

AIRJ

AirJoule Technologies Corporation • NASDAQ
$3.26 ▲ 1.24% (+0.04)
Market Cap $197.63 M
52w High $11.60
52w Low $2.96
Dividend Yield 0%
P/E -20.37
Volume 240.84K
Outstanding Shares 60.62M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $2.997M ▼ $-4.012M ▼ 0% $-0.15 ▼ $-6.397M ▼
Q2-2025 $0 $4.161M ▲ $2.513M ▼ 0% $0.042 ▼ $956.618K ▲
Q1-2025 $0 $3.19M ▲ $14.879M ▲ 0% $0.27 ▲ $-3.181M ▲
Q4-2024 $0 $2.797M ▲ $-14.306M ▼ 0% $-0.28 ▼ $-16.26M ▼
Q3-2024 $0 $2.377M $35.017M 0% $0.63 $-2.375M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $26.008M ▼ $372.73M ▼ $86.376M ▼ $286.353M ▼
Q2-2025 $30.503M ▲ $376.085M ▲ $87.515M ▼ $288.57M ▲
Q1-2025 $23.001M ▼ $365.606M ▼ $95.423M ▼ $270.183M ▲
Q4-2024 $28.022M ▼ $369.852M ▼ $117.742M ▲ $252.11M ▼
Q3-2024 $30.688M $374.393M $108.692M $265.701M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.012M ▼ $-1.872M ▲ $-2.757M ▲ $133.892K ▼ $-4.495M ▼ $-1.879M ▲
Q2-2025 $2.513M ▼ $-2.236M ▼ $-4.876M ▲ $14.614M ▲ $7.502M ▲ $-2.247M ▼
Q1-2025 $14.879M ▲ $72.246K ▲ $-5.135M ▼ $41.76K ▲ $-5.021M ▼ $72.25K ▲
Q4-2024 $-14.306M ▼ $-2.7M ▲ $-3.027K ▲ $37.453K ▲ $-2.666M ▲ $-2.703M ▲
Q3-2024 $35.017M $-3.985M $-9.477K $33.073K $-3.961M $-3.994M

Five-Year Company Overview

Income Statement

Income Statement AirJoule is still a pre‑revenue company, so its income statement looks more like a research project than an operating business. There is essentially no sales activity yet, only development and corporate costs. Recent profits on paper appear to be driven by one‑off or non‑operating items rather than a functioning business model, so they are unlikely to be a good guide to future performance. Day‑to‑day, the core operations are still loss‑making, which is normal for a hardware‑heavy climate‑tech company at this stage but means the path to meaningful revenue is still ahead, not behind.

Balance Sheet

Balance Sheet The balance sheet is very light, reflecting a young, early‑stage company. Assets and cash are modest, with no meaningful debt, so financial leverage is low but funding capacity is also limited. Equity has moved around as the company has raised capital and gone through its SPAC process, and the current capital base looks thin relative to the scale of manufacturing and commercialization they are targeting. This suggests future growth is likely to depend heavily on additional funding, partner support, or both.

Cash Flow

Cash Flow Cash flow shows a small but persistent burn: money going out to support operations and development, with no commercial inflows yet. Investment in equipment and facilities has been limited so far, underscoring that the business is still in the build‑out and pilot phase rather than full‑scale production. The key cash flow risk is straightforward: until commercial sales ramp, the company will rely on external financing and partner contributions to sustain operations and scale up manufacturing.

Competitive Edge

Competitive Edge AirJoule’s competitive story rests on a mix of novel technology and strong partners rather than market share today. It targets a niche at the intersection of water generation, dehumidification, and ultra‑efficient cooling, where traditional HVAC and water systems are often energy‑intensive. Its patent portfolio around sorbent materials and pressure‑swing systems, combined with alliances with Carrier, GE Vernova, and BASF, gives it a meaningful early advantage and credibility. Against that, the company operates in markets dominated by large incumbents, faces emerging climate‑tech competitors, and must prove that its systems can deliver reliable performance and attractive economics at scale, not just in pilots.

Innovation and R&D

Innovation and R&D Innovation is the clear strength: AirJoule is built around advanced metal‑organic frameworks, heat‑recycling processes, and the ability to turn low‑grade waste heat into clean water and efficient dehumidification. The product roadmap—industrial water generators, high‑efficiency dehumidifiers, and potential next‑generation HVAC systems—shows a broad ambition. R&D efforts are reinforced by joint ventures and collaborations with major industrial and technology players, and by early field deployments that help validate the technology in real‑world settings. The main uncertainties lie in scaling manufacturing, driving down costs, maintaining performance in varied climates, and turning innovative technology and contract structures (like water purchase agreements) into repeatable, profitable business.

Summary

Overall, AirJoule looks like an early‑stage, deep‑tech climate company with an unusually strong set of partners and a compelling technological promise, but with very limited current financial scale. The business is still pre‑revenue, with a light balance sheet and ongoing cash burn, so its future depends heavily on successful commercialization, manufacturing scale‑up, and continued access to capital. If its technology performs as advertised and its partnerships convert into real installations and recurring contracts, the financial profile could change materially; if not, the small resource base leaves limited room for error. This is best viewed as a high‑uncertainty, long‑duration execution story rather than a mature industrial business at this time.

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