AirJoule Exceeds Q2 EPS Estimates, Reports No Revenue

AirJoule Technologies reported Q2 EPS of $0.04, exceeding the consensus estimate of negative $0.08. The company did not report any commercial revenue, as expected, and remains in the pre-revenue phase with product launches slated for 2026. The cash balance was $30.5 million, helped by a $15 million private placement led by GE Vernova. Net income dropped to $2.51 million from $13.43 million in the prior year quarter, due to non-cash fair value adjustments rather than core business operations.

Title: AirJoule Technologies Reports Q2 2025 Earnings; Focuses on Pre-Revenue Phase and Upcoming Launches

AirJoule Technologies (NASDAQ: AIRJ), a pioneering company in energy-efficient atmospheric water harvesting and industrial dehumidification technologies, released its second quarter 2025 earnings on August 13, 2025. The company reported diluted earnings per share (EPS) of $0.04 (GAAP), surpassing the consensus estimate of negative $0.08 (GAAP). Despite the earnings beat, AirJoule did not report any commercial revenue, aligning with its pre-revenue phase and plans to launch products in 2026.

The company's cash balance stood at $30.5 million as of June 30, 2025, bolstered by a $15 million private placement led by GE Vernova. Net income (GAAP) dropped to $2.51 million from $13.43 million in the prior year quarter, largely due to non-cash fair value adjustments rather than core business operations. This indicates significant impacts from non-cash items rather than operational performance.

Key highlights from the quarter include the company's operational progress towards future commercialization. AirJoule reported an operating loss of $4.16 million, but posted positive net income due to changes in the fair value of share-based liabilities. The company ended the quarter with $30.5 million in cash and cash equivalents, reflecting a strong balance sheet and extended capital runway.

AirJoule has focused on product commercialization, manufacturing scale-up, and deepening its portfolio of strategic partnerships. The company's A250 industrial dehumidification system, designed to deliver dehumidified air with up to 80% energy savings, is on track for its first municipal field installation in Hubbard, Texas, in Q4 2025. The A1000 atmospheric water generator, aimed at industrial-scale on-site distilled water production, also advanced in its development cycle.

The company formed notable partnerships, including a memorandum of understanding with a major data center developer and a significant investment from GE Vernova. These partnerships aim to deploy AirJoule's technology for producing pure water from ambient air and waste heat within data center environments, a sector where sustainable solutions are increasingly essential. Pilot projects with Arizona State University and at a Dubai government facility built pipeline momentum and will serve as third-party validation cases.

Manufacturing readiness also improved, with AirJoule holding a ribbon-cutting for its Newark, Delaware facility, increasing capacity for both assembly and environmental testing. The company added two new independent directors, Denise Sterling and Thomas Murphy, with backgrounds relevant to finance, data center operations, and audit functions.

Management has not provided revenue guidance for 2025 and expects no product revenue this year. The company states it has "sufficient runway to support the Company’s operations through commercialization." Investors should focus on the ability of AirJoule to convert these pilots and development partnerships into binding sales contracts as commercialization nears.

References:
1. [https://www.nasdaq.com/articles/airjoule-beats-q2-eps-no-revenue](https://www.nasdaq.com/articles/airjoule-beats-q2-eps-no-revenue)
2. [https://www.stocktitan.net/news/AIRJ/air-joule-technologies-announces-second-quarter-2025-zg7d0vr7z2qt.html](https://www.stocktitan.net/news/AIRJ/air-joule-technologies-announces-second-quarter-2025-zg7d0vr7z2qt.html)