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AquaBounty Technologies Inc. (AQB-0.94%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial position, highlighting a significant net loss of $149.2 million for the year, compared to a loss of $27.6 million in the previous year.
AquaBounty reported a decrease in cash and cash equivalents to $230 thousand as of December 31, 2024, down from $8.2 million at the end of 2023.
The company recorded impairment charges totaling $129.8 million, primarily related to its Ohio Farm Project and Canadian operations.
AquaBounty sold its Indiana Farm in July 2024 and its Canadian Farms in March 2025, designating these operations as discontinued in its financial statements.
The company is actively seeking additional capital to continue its operations, citing substantial doubt about its ability to continue as a going concern.
AquaBounty's primary asset remains its investment in the Ohio Farm Project, with ongoing efforts to secure new investment or strategic partnerships.
The company continues to face risks related to its history of net losses, ability to raise funds, and potential delays in farm construction and operations.
AquaBounty's stock is currently traded on the Nasdaq Capital Market under the symbol 'AQB', with recent notices from Nasdaq regarding compliance with listing requirements.
The company does not anticipate paying cash dividends in the foreseeable future, focusing instead on financing growth and development.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AquaBounty Technologies Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.