374Water Inc. (NASDAQ:SCWO), a leading cleantech and environmental services company deploying supercritical water oxidation technology for the destruction of PFAS and other organic waste streams, today reported financial results for the second quarter ended June 30, 2026.
Revenue was $2.26 million, compared with approximately $0.6 million in the second quarter of 2025, representing an increase of approximately 280% quarter-over-quarter, driven by the completion project milestones, most notable the Orange County Sanitation District Factory Acceptance Test, and associated revenues. Revenue for the first six months of 2026 was $2.8 million, compared with approximately $1.1 million for the same period in 2025.
Gross profit for the quarter was $1.98 million, representing a gross margin of 87%, compared with a gross deficit of approximately $0.3 million and a negative gross margin in the second quarter of 2025.
"The second quarter marked an important achievement for 374Water, driven by our successful completion of the OC San Factory Acceptance Test, which enabled us to recognize approximately $2.0 million in revenue and demonstrate meaningful commercial progress," said CEO Danny Bogar.
"Beyond the revenue milestone, the greater accomplishment is what our team and technology have proven - AirSCWO can reliably destroy biosolids at the source and at scale. This milestone allows us to begin invoicing the remaining $2.6 million of the OC San contract as we achieve additional contractual milestones and, more broadly, demonstrates that AirSCWO is ready to address the massive and growing biosolids challenge-starting in California and extending across the United States."
SCWO shares inched up two cents to $2.48.
