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AIRJW

AirJoule Technologies Corporation

AIRJW

AirJoule Technologies Corporation • NASDAQ
$0.64 ▼ -5.90% (-0.04)
Market Cap $38.80 M
52w High $1.28
52w Low $0.64
Dividend Yield 0%
P/E 0
Volume 200
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 essentially a pre‑revenue company today. Reported profits or EBITDA improvements are driven more by accounting items and early-stage structuring than by an underlying, mature business. Operating expenses are still relatively small, reflecting a team that is building out rather than running a full commercial platform. Earnings per share figures are not yet a reliable indicator of long‑term profitability, because there is no recurring revenue base and results can swing with non‑operating gains or one‑off items. Overall, the income statement looks like that of a development‑stage technology company still preparing for commercialization, not an operating industrial business.

Balance Sheet

Balance Sheet The balance sheet is small and quite simple. Assets have grown from almost nothing to a modest level, showing early investment in the technology and organization, but not yet in large‑scale plants or inventory. The company carries no financial debt, which reduces interest burden but also means growth will likely depend on new equity, strategic partners, or future non‑dilutive funding. Equity has moved around over the years, likely reflecting SPAC and capitalization mechanics, rather than operating performance. Cash remains limited, so the balance sheet underlines that AirJoule is still in a capital‑hungry build‑out phase and will need careful funding management as it moves toward commercial production.

Cash Flow

Cash Flow Cash flow from operations is negative, which is expected for a company with no revenue that is spending to develop products and partnerships. There is essentially no visible capital spending yet, suggesting the firm is still in the design, prototyping, and partnership stage rather than building large manufacturing assets on its own balance sheet. Free cash flow is modestly negative, but given the tiny scale, even small changes in spending or funding can have a noticeable impact. In practical terms, AirJoule is consuming cash to build its future business and will likely continue to rely on external capital and partner support until commercial sales ramp meaningfully.

Competitive Edge

Competitive Edge AirJoule is trying to carve out a niche in atmospheric water harvesting and ultra‑efficient dehumidification, which sit at the intersection of water, energy, and climate technology. Its main strengths are: a clearly differentiated sorbent‑based technology; a strong patent wall including exclusive licenses from a major national lab; and unusually deep partnerships with large industrial players such as Carrier, GE Vernova, BASF, and CATL. These partners bring manufacturing muscle, supply security, and access to customers, which could be a major advantage versus smaller competitors. On the other hand, the company is pre‑commercial, so its real‑world cost structure, reliability, and customer acceptance are still unproven. Competitively, AirJoule appears to have a promising position on paper, but its moat will only be validated once units are deployed at scale, perform as advertised, and withstand competitive responses from traditional HVAC and water‑treatment providers.

Innovation and R&D

Innovation and R&D Innovation is the core of AirJoule’s story. The company is built around advanced sorbent materials and a clever process that uses low‑grade waste heat to pull clean water from the air while reducing the energy needed for cooling. This design aligns well with growing needs in data centers, industrial dehumidification, water‑stressed regions, and more efficient HVAC systems. The firm is also experimenting with business models such as selling water by volume, which could create recurring revenue if customers adopt it. R&D appears tightly linked to key partners and national lab IP, suggesting a strong technical foundation and ongoing pipeline of improvements. The main R&D risks are classic for this stage: scaling from lab and pilot performance to mass‑produced, low‑cost systems; maintaining material performance over long lifetimes; and staying ahead of rival technologies in a rapidly evolving climate‑tech field.

Summary

AirJoule today looks less like a traditional construction or industrial company and more like an early‑stage climate‑tech platform built inside a SPAC structure. Financial statements reflect a business that has not yet begun commercial operations: no meaningful revenue, negative operating cash flow, a small but debt‑free balance sheet, and results that can be distorted by one‑off or non‑operating items. The investment case around the company, as described, rests almost entirely on the strength of its technology, intellectual property, and strategic partnerships rather than on current financial performance. If AirJoule can deliver on its promised energy savings, effectively use waste heat, and reliably generate clean water at scale, it could address large, global markets ranging from data centers to agriculture and building HVAC. However, the path from here to there involves typical early‑stage risks: execution on productization, manufacturing scale‑up through joint ventures, obtaining sufficient capital, and proving real‑world economics and durability to customers. Overall, AirJoule appears to be in the pre‑commercial, high‑potential but high‑uncertainty phase, where tracking technical milestones, partner progress, and the first real deployments is much more informative than focusing on current earnings or margins.