374Water Inc (SCWO)
NASDAQIndustrialsIndustrial - Pollution & Treatment ControlsSnapshot 2026-09-04
$3.32+2.15%
Close 2026-09-04 · 1-day change
NASDAQIndustrialsIndustrial - Pollution & Treatment ControlsSnapshot 2026-09-04
QuarterlyIQ Insights · SCWO
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Scale the Waste Destruction Services business by commercial deployments, expanding municipal and federal contracts, and increasing recurring revenue.
Stated as a priority in 2 of last 2 quarters. Revenue grew from approximately $0.6 million in 2025-Q2 to $2.26 million in 2026-Q2, a 280% increase, with first half 2026 revenue at $2.8 million versus $1.1 million in first half 2025. Management is delivering on scaling the Waste Destruction Services platform with expanding commercial deployments and recurring revenue.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Industrials names rated weak grew net income 53% of the time over the next year (vs 58% for the rest of the cohort, n=6963).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“Our team has been intensely focused on one objective: turning AirSCWO into a scalable Waste Destruction Services business while executing our projects.”
“374Water is scaling its recurring revenue platform to better serve municipal, federal, and industrial markets, with AirSCWO positioned as the end-of-pipe solution.”
Continue executing municipal contracts, build infrastructure, and establish partnerships to accelerate market penetration and revenue growth.
Stated in 2 of last 2 quarters. Management reports advancing multiple municipal deployments including OC San, St. Cloud, and Olathe, and building infrastructure such as the Orlando WDS facility. Strategic partnerships with Arcadis and others are progressing. The trajectory shows delivering on commercial deployments and partnership expansion.
“Expanded relationship with City of Orlando, executed strategic collaboration with Arcadis, and received validation from U.S. Army Corps of Engineers.”
“Contracted AirSCWO 6 system for OC San met factory acceptance test; infrastructure buildout underway at Orlando; mobile system deployed to St. Cloud; strategic partnerships advancing.”
Reduce operating costs and improve gross margins through operational efficiencies and cost discipline while prioritizing capital for revenue growth.
Stated in 2 of last 2 quarters. Gross margin improved dramatically from -46% in 2025-Q2 to 87% in 2026-Q2, and operating expenses decreased from $4.3 million to $3.6 million over the same period. The company also reduced operating costs by $3.2 million annually. The trajectory shows delivering on margin improvement and cost discipline.
“The Company has also taken action to reduce its operating costs by approximately $3.2 million on an annualized basis.”
“Gross margins expanded 38 percentage points year-over-year; cash used in operating activities improved 28% versus prior year quarter.”
Shift revenue recognition from 2025 to 2026 for certain contracts to better reflect operational milestones and commercial progress.
Stated in 2 of last 2 quarters. Management shifted revenue recognition from 2025 to 2026, evidenced by $2.0 million revenue recognized in 2026-Q2 from the OC San Factory Acceptance Test milestone. This reflects delivering on deferred revenue recognition as planned.
“Revenue milestone from OC San Factory Acceptance Test recognized in Q2 2026, unlocking $2.0 million in revenue.”
“Revenue associated with that system, which had been included in prior 2025 guidance, is now expected to be recognized in 2026.”
Grow monthly revenue from initial operations to more than $400,000 by late 2027 through scaling WDS facilities and modular AirSCWO platforms.
Stated in 2 of last 2 quarters. Management projects monthly revenue growth from $100,000-$200,000 currently to over $400,000 by late 2027 through modular expansion of WDS facilities. This is a forward-looking target with no current revenue at that level, so trajectory is aspirational.
“The WDS facility is designed for modular expansion with revenue potential increasing from $100,000-$200,000 monthly to over $400,000 by late 2027.”
“We expect initial operations to generate between $100,000 to $200,000 in monthly revenue, increasing to more than $400,000 monthly by late 2027.”
Over the trailing year it converted 0.86x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, Fed net liquidity, long-term interest rates (low R² over the window).
26 material management or governance events in the past 24 months, led by executive changes. Historically, Industrials names rated volatile grew net income 58% of the time over the next year (vs 57% for the rest of the cohort, n=2592).
Not investment advice. As of 2026-09-04.