374Water, Inc. (SCWO) Income Statement
SCWO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSCWO revenue and net income
Where SCWO's revenue goes
2025Each bar shows an amount and its share of revenue. SCWO kept −9,754.2% of revenue as net income.
SCWO profit margins
SCWO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −51.7% | −58.5% | +40.0% | −8.6% |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SCWO quarterly EPS vs estimates
374Water beat the analyst EPS estimate in 2 of the last 6 quarters. Next report: November 11, 2026.
SCWO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $215,037 | $445,445 | $743,952 | $3.0M | $48,100 | $40,000 | $24,000 | $190,094 | $852,443 | $587,613 |
| Cost of revenue | $2.6M | $1.4M | $1.9M | $2.7M | $46,050 | $14,241 | $0 | $0 | $0 | $0 |
| Gross profit | −$2.4M | −$912,707 | −$1.1M | $336,501 | $48,100 | $40,000 | $24,000 | $190,094 | $852,443 | $587,613 |
| Research & development | $2.5M | $2.1M | $1.5M | $1.1M | $1.8M | $114,559 | $218,919 | $630,742 | $210,624 | $331,038 |
| Sales, general & admin | $16.3M | $9.8M | $6.0M | $4.0M | $1.4M | $323,806 | $217,510 | $239,352 | $210,491 | $318,067 |
| Total operating expenses | $18.8M | $11.9M | $7.5M | $5.1M | $3.2M | $438,365 | $436,429 | $870,094 | $421,115 | $649,105 |
| Operating income | −$21.1M | −$12.8M | −$8.6M | −$4.8M | −$3.2M | −$398,365 | −$412,429 | −$680,000 | $431,328 | −$61,492 |
| Interest income | $194,174 | $281,117 | $327,110 | $67,067 | $1,066 | $0 | $0 | $1,621 | $806 | — |
| Interest expense | $41,211 | $0 | — | $66,164 | $1,066 | $135,295 | $33,309 | $699 | $27,781 | $62,270 |
| Income before taxes | −$21.0M | −$12.4M | −$8.1M | −$4.7M | −$3.2M | −$533,660 | −$514,916 | −$679,078 | $404,353 | −$123,762 |
| Income taxes | — | — | $4 | −$66,164 | −$1,066 | $135,295 | $33,309 | −$922 | $26,975 | $62,270 |
| Net income | −$21.0M | −$12.4M | −$8.1M | −$4.7M | −$3.2M | −$668,955 | −$514,916 | −$679,078 | $404,353 | −$123,762 |
| EBITDA | −$20.2M | −$12.6M | −$8.0M | −$4.6M | −$3.1M | −$398,365 | −$475,973 | −$658,416 | $468,580 | −$29,121 |
| EPS (diluted) | −$0.09 | −$0.64 | −$0.06 | −$0.04 | −$0.06 | −$0.05 | −$0.14 | −$0.21 | $0.13 | −$0.04 |
| Gross margin | −1,093.5% | −204.9% | −149.0% | 11.2% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | −9,834.2% | −2,874.3% | −1,161.8% | −157.7% | −6,582.1% | −995.9% | −1,718.5% | −357.7% | 50.6% | −10.5% |
| Net margin | −9,754.2% | −2,791.4% | −1,089.3% | −155.5% | −6,579.2% | −1,672.4% | −2,145.5% | −357.2% | 47.4% | −21.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3M | $551,155 | $0 | $760,417 | $594,967 | $543,100 | $11,856 | $81,490 | $36,821 | $315,278 | $0 | $12,290 |
| Cost of revenue | $279,067 | $2.9M | $742,486 | $547,785 | $871,333 | $404,817 | $654,907 | $42,404 | $43,543 | $617,298 | $908,126 | $178,680 |
| Gross profit | $2.0M | −$2.4M | −$2.4M | $212,632 | −$276,366 | $138,283 | −$643,051 | $39,086 | −$6,722 | −$302,020 | −$1.0M | −$166,390 |
| Research & development | $284,589 | $449,834 | $703,818 | $755,944 | $531,170 | $533,587 | $617,177 | $424,579 | $566,568 | $535,147 | $550,686 | $317,573 |
| Sales, general & admin | $1.3M | $2.0M | $5.2M | $1.7M | $1.8M | $1.7M | $3.6M | $2.4M | $2.4M | $1.4M | $1.7M | $1.4M |
| Total operating expenses | $3.6M | $2.2M | $5.9M | $4.6M | $4.4M | $3.9M | $4.2M | $2.8M | $3.0M | $1.9M | $2.3M | $1.7M |
| Operating income | −$1.6M | −$4.6M | −$8.4M | −$4.4M | −$4.6M | −$3.8M | −$4.8M | −$2.7M | −$3.0M | −$2.2M | −$3.3M | −$1.9M |
| Interest income | $18,295 | $11,594 | $47,021 | $11,088 | $46,355 | $89,710 | $65,679 | $36,626 | $74,192 | $104,620 | $185,009 | $148,834 |
| Interest expense | $89,923 | $13,059 | — | — | $0 | $0 | — | — | — | — | $38,241 | — |
| Income before taxes | −$2.7M | −$4.6M | −$8.3M | −$4.3M | −$4.6M | −$3.7M | −$4.8M | −$2.7M | −$2.9M | −$2.0M | −$3.1M | −$1.7M |
| Income taxes | — | — | — | — | — | — | $1 | $1 | −$3 | −$1 | −$185,009 | −$148,834 |
| Net income | −$2.7M | −$4.6M | −$8.3M | −$4.3M | −$4.6M | −$3.7M | −$4.8M | −$2.7M | −$2.9M | −$2.0M | −$3.1M | −$1.7M |
| EBITDA | −$2.4M | −$4.3M | −$7.9M | −$4.2M | −$4.4M | −$3.5M | −$4.6M | −$2.7M | −$2.9M | −$2.0M | −$3.1M | −$1.7M |
| EPS (diluted) | −$0.15 | −$0.26 | $0.00 | −$0.03 | −$0.03 | −$0.03 | −$0.04 | −$0.20 | −$0.20 | −$0.20 | −$0.02 | −$0.01 |
| Gross margin | 87.7% | −432.2% | — | 28.0% | −46.5% | 25.5% | −5,423.8% | 48.0% | −18.3% | −95.8% | — | −1,353.9% |
| Operating margin | −71.7% | −834.3% | — | −573.5% | −779.5% | −697.0% | −40,833.5% | −3,364.5% | −8,199.4% | −698.2% | — | −15,316.4% |
| Net margin | −119.2% | −829.5% | — | −571.9% | −769.9% | −681.0% | −40,279.3% | −3,315.5% | −7,963.7% | −642.1% | — | −14,088.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SCWO's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SCWO financial results
In fiscal year 2025 (ended December 31, 2025), 374Water reported revenue of $0.2 million, down 51.7% from the year before. It had a net loss of $21.0 million, a net profit margin of −9,754.2%. Diluted earnings per share came to −$0.09. Over five years revenue grew at an average rate of 40.0% a year.
See the SCWO stock overview for the latest quote and news, or the SCWO chart for price history and technical indicators.
SCWO income statement FAQ
What is 374Water's annual revenue?
374Water reported total revenue of $0.2 million for fiscal year 2025, which ended on December 31, 2025. That was down 51.7% from $0.4 million the previous year.
Is 374Water profitable?
No. 374Water reported a net loss of $21.0 million in fiscal 2025, a net profit margin of −9,754.2%; its operating margin was −9,834.2%.
What is 374Water's gross margin?
374Water's gross margin was −1,093.5% in fiscal 2025: for every $100 of revenue, 374Water kept $-1093 after the direct cost of its products and services.
How much does 374Water spend on research and development?
374Water spent $2.5 million on research and development in fiscal 2025, 1,174.0% of revenue.
How fast is 374Water growing?
Revenue grew 40.0% a year on average over the last five fiscal years, from $0.0 million to $0.2 million.
What are 374Water's earnings per share?
374Water earned $-0.09 per diluted share in fiscal 2025, compared with $-0.64 a year earlier.
When will 374Water report its next earnings?
374Water is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does 374Water's fiscal year end?
374Water's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.