r/scwo

I don't see any press release, but this SEC filing is available.

SCWO Q2 2026 summary by ChatGPT

• Revenue rose 280% to $2.26m and net loss improved from $4.58m to $2.70m.
• However, approximately $2m of revenue came from previously delayed OC San revenue being recognised after passing the revised factory acceptance test. This also made the 88% gross margin unusually high and unlikely to be repeatable.
• The $4.88m Olathe contract is encouraging. SCWO received approximately $2.3m upfront, but manufacturing had not started and no revenue was recognised yet.
• Cash was only $1.78m at quarter-end. H1 operating cash burn was $2.30m, although this was helped substantially by the Olathe upfront payment.
• SCWO raised $2.96m through 10% convertible notes with a $3 conversion price and $4.50 warrants, creating potential dilution.
• Management again warned of substantial doubt about the company continuing as a going concern and said more funding is required.
• Internal financial controls were also deemed ineffective due to insufficient accounting staff.

Overall, this was a positive quarter operationally: OC San passed FAT, Olathe provides contracted future revenue and losses reduced. However, the headline revenue and margin flatter the underlying performance. SCWO still needs to prove it can generate repeatable revenue while managing a very weak cash position and likely further dilution.

SCWO Q2 2026 financial summary

• Revenue: $2.26m, up from $595k
• Gross profit: $1.98m, versus a $276k loss
• Operating expenses: $3.60m, down 17%
• Operating loss: $1.62m, down from $4.64m
• Net loss: $2.70m, down from $4.58m
• Cash at quarter-end: $1.78m
• H1 operating cash burn: $2.30m
• Working capital: $2.42m
• Total debt: approximately $3.0m
• Stockholders’ equity: $2.99m, down from $6.72m at year-end

The results need some context: approximately $2m of Q2 revenue was previously delayed OC San revenue recognised after passing the factory acceptance test. This produced an unusually high reported gross margin that is unlikely to be sustainable.

SCWO also received approximately $2.3m upfront on the $4.88m Olathe contract, but none was recognised as revenue because manufacturing had not started. This customer payment materially improved reported cash flow.

The company raised $2.96m through 10% convertible notes, convertible at $3 with accompanying $4.50 warrants. It also recorded a $1.02m debt-modification charge after making the terms more favourable to lenders.

Overall, the income statement improved substantially, but the underlying financial position remains weak. Cash is below $2m, the company continues to make sizeable losses, further funding is required and management continues to report substantial doubt about SCWO’s ability to remain a going concern.

The DoD Success Memo enables government contracting officers across all Federal agencies to rapidly engage Arcadis and 374Water's AirSCWO technology to address the large and growing Federal waste destruction marketplace.

MORRISVILLE, NC – August 13, 2026 / ACCESS Newswire / 374Water Inc. (NASDAQ: SCWO) ("374Water" or the "Company"), a cleantech and environmental services company deploying supercritical water oxidation (“SCWO”) technology for the permanent destruction of PFAS and hazardous organic waste streams, today announced that U.S. Department of Defense (“DoD”) Defense Innovation Unit ("DIU") issued a Success Memo to 374Water’s demonstration partner, Arcadis, validating the performance of 374Water’s AirSCWO™ destruction technology. 

The Success Memo formally validates the economic and technical viability of a regional AirSCWO hub following a robust demonstration and evaluation program under the DoD's Environmental Security Technology Certification Program ("ESTCP"). It also designates successful completion of the Prototype Project (HQ0034-20-9-DIU) under 10 U.S.C. §4022 and establishes the conditions under which federal agencies may proceed directly to follow-on production awards.

This milestone connects federal validation with 374Water’s commercial Waste Destruction Services ("WDS") platform in Orlando, Florida, where the Company is building critical destruction infrastructure to serve PFAS, biosolids, industrial waste, and other difficult-to-treat waste streams.

“Over the past several months, we have been focused on building the AirSCWO operating platform, and the vision is taking shape,” said Danny Bogar, CEO of 374Water.

“We have established our long-term Waste Destruction Services hub in Orlando, creating a scalable platform for recurring revenues. We continue to earn market validation under the highest scrutiny, most recently through the Orange County Sanitation District acceptance test and now this Success Memo from the DoD’s Defense Innovation Unit. Together, these milestones increase our commercial momentum as we bring this critical infrastructure to the markets that need it most.”

The Federal Market

The Department of Defense has identified 574 military installations where PFAS contamination requires remediation action.  To date, one facility, the New Hampshire Pease Air National Guard base, has been remediated at a reported cost of more than $400M.

While destruction of AFFF is underway, with approximately one billion dollars spent to date, large legacy stockpiles of AFFF and its residual contaminants need to be destroyed and replaced with a new, non-fluorine-based firefighting foam. In addition to the DoD, the Departments of Energy and Transportation are directly involved in PFAS remediation projects around the country.

"The DIU Success Memo confirms, in writing, that AirSCWO performs as advertised, and that federal agencies can procure it as a commercial product," said Howard Teicher, VP, Government at 374Water. "The OTA is expected to significantly accelerate the Federal government’s PFAS remediation efforts, and with our partnership with Arcadis and the commercial infrastructure to perform 374Water is leading the way to destroy forever chemicals forever."

What Does a “Success Memo” Mean?

The DIU/ESTCP program is one of the most comprehensive independent evaluations of PFAS destruction technologies to date, validating AirSCWO’s ability to treat a broad range of real-world waste streams generated by municipalities, industry, and government agencies.

Under the federal Other Transaction Authority (“OTA”) framework, a DIU Success Memo formally closes the prototype phase and authorizes production awards. For 374Water, the practical significance is procurement by federal agencies seeking permanent PFAS destruction at scale.  These agencies are authorized to move directly toward deployment with a validated, OTA-eligible technology and an established partner team.

“This Success Memo is a milestone for both Arcadis and 374Water,” said Dr. Craig Divine, Senior Vice President at Arcadis. “The AirSCWO technology coupled with this Success Memo offers the whole of the US Military, and in fact any Federal entity, streamlined contracting options and the ability to permanently destroy AFFF and other PFAS wastes. Arcadis is a trusted advisor with significant federal contracting experience and after the extensive technology validation completed during this DIU/ESTCP program, we are pleased to collaborate with 374Water.”

The Regional Hub Model: Built for This Moment

The DIU/ESTCP prototype project evaluated the hub-and-spoke concept that underpins this strategy: centralized PFAS destruction facilities capable of receiving concentrated waste streams from multiple installations and industrial customers across a geographic region. Orlando is 374Water’s first commercial expression of that model.

Commercially, the Orlando WDS platform translates those demonstration results into a service model for customers that need long-term destruction capacity for biosolids, PFAS, industrial sludges, microplastics, pharmaceuticals, and other difficult-to-manage waste streams while creating recurring revenue opportunities for 374Water.

"The Orlando Waste Destruction Service platform shows how we intend to turn validated AirSCWO performance into recurring commercial service capacity," added Bogar. "As customers seek permanent solutions for PFAS, biosolids, and other difficult waste streams, we believe 374Water is uniquely positioned at the intersection of environmental infrastructure, regulatory change, and growing demand for destruction technologies. We are building the foundation for what we believe can become a critical piece of the nation's waste destruction infrastructure."

374Water's Orlando Facility — operating under a license agreement with the City of Orlando — is the Company's advanced Waste Destruction Services hub. The expanded facility has added 88,000 gallons of onsite tank storage, upgraded AirSCWO capacity for significantly higher throughput, and target between $3 million and $5 million in annual recurring revenue at initial scale, with negotiations underway to more than double installed capacity. Iron Bridge serves as the commercial reference model for precisely the kind of regional infrastructure the DoD envisioned when funding the ESTCP prototype.

The federal procurement pathway opened by the DIU Success Memo and the OTA accelerates 374Water's ability to replicate this model at additional federal, commercial TSDF, or public-private partnership sites by reducing the need to repeat full demonstration cycles before deployment.

Does anyone know if earnings are still expected to come out after hours today? 8/14

374Water Reports Preliminary Second Quarter 2026 Revenue of $2.2M and Advances Commercial Deployments Across Municipal and Federal Markets

374Water’s 2026 first half revenue exceeds$2.8M, more than doubling the Company’s revenue for the same period last year.

MORRISVILLE, NC / ACCESS Newswire / August 11, 2026 / 374Water Inc. (NASDAQ:SCWO) ("374Water" or the "Company"), a leading cleantech environmental services company deploying supercritical water oxidation technology for the permanent destruction of organic waste including PFAS through its proprietary AirSCWO™ technology, today provided a business update in advance of reporting its financial results for the second quarter ended June 30, 2026.  The Company will release its complete financial results on August 14, 2026.

 

“The second quarter of 2026 has been about building towards long-term growth from a strong technical and operational foundation,” said Danny Bogar, Chief Executive Officer of 374Water. “Since I assumed the role of CEO earlier this year, our team has remained focused on alignment and execution.  We are converting years of technology development into rapidly growing revenue, more deployed systems, long-term contracts, and durable partnerships. We have expanded our flagship Waste Destruction Services hub in Orlando, executed a MOU with Arcadis to pursue federal PFAS destruction opportunities, completed a rigorous government PFAS demonstration with the Department of Defense validated by independent results, and cleared a critical Factory Acceptance Test for California’s Orange County Sanitation District.”

 

“While there is still significant work ahead, I believe the progress we’ve made positions 374Water to capitalize on the growing demand for permanent destruction solutions.  As society and regulatory pressures increase, customers will seek proven, scalable solutions for the destruction of harmful and persistent pollutants.  The second half of 2026 will be about creating additional partnerships, expanding our facility and capacity in Orlando, and commercializing our AFFF waste destruction services.”

 

Second Quarter and Recent Business Highlights

·        Preliminary second quarter revenue exceeded $2.2M vs. $0.6M in 2025, driven by      approximately $2.0M recognized following the OC San Factory Acceptance Test

·        Preliminary first half revenue of approximately $2.8M vs. $1.1M in 2025

·        Continued progress on commercial equipment sales and deliveries, including:

1)     Successfully completing the Orange County Sanitation District (“OC San”) Factory Acceptance Test, a key commercial milestone that positions the Company to invoice approximately $2.6M in remaining contract billings, while supporting revenue recognition of approximately $1.1M of remaining contract value.

2)     Receiving an order for $4.8M from Olathe, KS,  

3)     Deploying an AirSCWO mobile system to St. Cloud, MN for a $600,000 pilot project which is now in its third phase, and

4)     Expanding the Waste Destruction Services (“WDS”) facility in Orlando, FL. 

·        The company also continues discussions with strategic industry participants regarding project development, commercial partnerships, and infrastructure capital opportunities.

Expanding the Waste Destruction Services Platform

The Orlando regional hub is designed as the Company's first recurring-revenue waste destruction facility.  As customer volumes increase, management believes the facility will become a scalable cash-generating asset supporting municipal, industrial, and federal customers while serving as the blueprint for future regional Waste Destruction Services hubs.  The Orlando WDS hub now includes approximately 88,000 gallons of waste storage capacity, allowing the Company to receive and stage significantly larger volumes of PFAS-contaminated waste.

Management believes the Orlando Waste Destruction facility has the potential to generate multi-million-dollar annual recurring revenues as customer contracts are secured and processing volumes ramp up.

Arcadis MOU Establishes Commercial Framework for Federal PFAS Destruction

During the quarter, 374Water announced a strategic relationship with Arcadis, one of the world’s leading engineering and environmental consulting firms.  This collaboration is expected to accelerate commercial opportunities primarily across the Federal and Industrial markets by combining Arcadis’ global engineering capabilities with 374Water’s destruction technology.

Management believes the U.S. government's need to destroy PFAS-containing waste, including AFFF and other contaminated materials, represents a multi-billion-dollar long-term remediation market. Through its collaboration with Arcadis and successful Department of Defense demonstration programs, the Company is positioning itself to compete for future federal destruction projects as procurement opportunities emerge.

Factory Acceptance Test and Delivery Scheduled for OC Sanitation District

374Water completed the Factory Acceptance Test (“FAT”) for its AirSCWO system as part of the delivery and deployment milestones for Orange County Sanitation District (“OC San”).  Completion of the Factory Acceptance Test activates the next phase of the project, positioning the Company to recognize the remaining $1.1 million in revenue while receiving $2.6 million in remaining billings, as operational milestones are completed. The Company and OC San have planned for the deployment of the 374Water commissioning team and system in October of this year.

Together with active projects in Orlando, St. Cloud, and Olathe, 374Water continues to build a growing portfolio of municipal reference installations that management believes will support future commercial growth across North America.

Leadership and Governance

374Water appointed Charles “Chuck” Weiser, CPA, as Chief Financial Officer. Mr. Weiser succeeds Adrienne Anderson, who served as Interim Chief Financial Officer and will continue to support the Company.

The Board appointed Richard “Rick” Davis to the Board of Directors. Mr. Davis previously served on the Board from 2021 through June 2025 and, is the former Chief Executive Officer of PowerVerde.  

Hi everyone, it's been a long time. I am back! I plan to make more videos on SCWO, using more visuals and trying to make boring poop into fun! lol
Anyway idk how often I'll do this, but I hope you guys tune in, and maybe with the feedback I'll get, I'll try and be more consistent... on another hand, I am still in touch with someone at the team, and possibly planning for another trip up to their expanded facility in the coming future & tba