374Water Inc.SCWO

NasdaqIndustrialsMotors & Generators
Price (close)
$3.09
Market cap
$54.7M
P/E
—
Revenue (TTM)
$1.9M
Net income
-$20.0M
Dividend yield
—
1-year total return
-0.3%
Net margin
-1056.2%
Revenue growth
53.5%
Debt / equity
0.01x

What 374Water Inc. does.

374Water Inc. (the “Company”, “374Water”, “We”, or “Our”) is a cleantech and environmental services company developing supercritical water oxidation technology (“SCWO”) for the destruction of organic waste streams within the municipal, federal, and industrial markets. 374Water offers our proprietary AirSCWO technology, which is designed to destroy and mineralize a broad spectrum of non-hazardous and hazardous organic wastes producing safe dischargeable water streams, safe mineral effluent, safe vent gas, and recoverable heat energy. Importantly, our AirSCWO system is designed to eliminate recalcitrant organic wastes without creating waste byproducts, as well as to simplify existing, complex waste processing and disposal practices. Our AirSCWO technology is designed to effectively convert solid and liquid wastes such as sewage sludge, biosolids, food waste, hazardous and non-hazardous waste, including ‘forever chemicals’ (e.g., “per-and polyfluoroalkyl substances” or “PFAS”) into inert and recoverable resources including water, minerals, and heat energy.

374Water made significant commercial and technological progress throughout the 2025 fiscal year. We continue to make technological breakthroughs in processing solids and slurries, as well as liquid waste streams across three main market sectors – industrial, municipal, and federal. Throughout the year we established our Waste Destruction Services (“WDS”) hub at the City of Orlando’s Iron Bridge Water Reclamation Facility, deployed a commercial AirSCWO system to Detroit, MI, for a six week Department of Defense (“DoD”) Destruction Demonstration of six PFAS-impacted waste streams, deployed our mobile AirSCWO lab to Peterson Space Force Base in Colorado, and tested waste streams from several clients, including major oil and gas companies, multi-national chemical and pharmaceutical companies, the United States DoD and defense contractors, and resource recovery companies, at our laboratory in the Research Triangle, North Carolina.

Revenue and profit, by fiscal year.

Fiscal year202020212022202320242025
Revenue$86,570$48,100$3.0M$743,952$445,445$215,037
Net income$40,337-$3.2M-$4.7M-$8.1M-$12.4M-$21.0M
Free cash flow$64,759-$1.8M-$5.1M-$9.1M-$11.1M-$16.2M

More on SCWO.

Figures from 374Water Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.