Filing Flows › 374Water (SCWO) › Q3 2025
374Water (SCWO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
374Water (SCWO) reported revenue of $760K for the third quarter 2025 (Q3 2025), +833% from a year earlier and +28% from the quarter before. Operating margin was -573.5%, net loss $4.3M (571.9% of revenue).
374Water, Q3 2025: revenue $760K (+833% year over year), operating margin -573.5%, net loss $4.3M, operating cash flow −$2.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $760K | +28% | +833% |
| Operating profit | −$4.4M | — | — |
| Net earnings | −$4.3M | — | — |
| Operating cash flow | −$2.6M | — | — |
What changed
Revenue was $760K in Q3 2025, up 833% year over year and up 28% from the previous quarter.
Gross margin was 28.0%, down 20.0 points from a year earlier. Operating costs exceeded revenue by $4.4M, an operating margin of -573.5%. Operating expenses grew 64% against revenue growth of 833%. The fastest-growing cost line was General & admin (+127%). The quarter ended with a net loss of $4.3M, narrower than the previous quarter's $4.6M loss.
Operating cash flow was −$2.6M. Non-cash charges added back $196K of depreciation and amortization and $814K of share-based compensation. Working capital and other items added $755K. Capital expenditures of $457K exceeded it, leaving free cash flow of −$3.0M.
Questions
What was 374Water's revenue in the third quarter 2025?
374Water (SCWO) reported revenue of $760K for the third quarter 2025 (Q3 2025), +833% from a year earlier and +28% from the quarter before.
Was 374Water profitable in the third quarter 2025?
Operating loss was $4.4M (-573.5% of revenue) and net loss $4.3M.
Source: 374Water 10-Q on SEC EDGAR.