374Water's Q2 2025: Diverging Views on Growth, Revenue Targets, and DoD Partnerships

Revenue Growth and Diversification:
- 374Water Inc. reported $600,000 in revenue for Q2 2025, compared to $37,000 in the prior year, representing a significant increase of $560,000.
- Growth was driven by increased full-scale demonstration service revenues, treatability studies, and equipment revenues, reflecting the company's diversification into waste destruction services.

PFAS Contamination and Destruction Opportunities:
- 374Water has secured contracts and is actively bidding on projects related to PFAS contamination, such as AFFF firefighting foam destruction.
- The company is targeting a $5 million opportunity with the University of North Carolina, demonstrating the potential market size and demand for PFAS destruction solutions.

Expansion of Waste Destruction Services:
- The company is expanding its waste destruction services, now offering a flexible commercial model that includes capital sale and lease options, along with service management agreements.
- This expansion is driven by the need for advanced waste destruction solutions in municipal, federal, and industrial sectors, which has led to an increase in contracts and potential opportunities.

Board Expansion and Strategic Partnerships:
- 374Water strengthened its Board of Directors with the addition of experienced former CEOs, such as Steve Jones and Jim Pawloski, who bring expertise in environmental services and water management.
- These strategic partnerships aim to enhance the company's operational and commercial capabilities, enabling it to capitalize on its $1.8 billion pipeline of identified opportunities.

Capital Expenditure and Cash Position:
- The company ended Q2 with $2.1 million in cash and cash equivalents, focusing on supplementing operating cash needs through a new at-the-market facility and additional capital raising opportunities.
- This is in support of the company's growth initiatives, including the establishment of waste destruction services facilities and the deployment of mobile waste destruction service fleets.