Aqua Metals, Inc.

AQMS

Aqua Metals, Inc.

AQMS

Insider Sentiment (TTM):

Last Purchase:2024-05-14Last Sale:2022-07-08Shares Purchased (TTM):0Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:191,453Shares Outstanding:3,236,557Institutional Ownership Pct.:5.92%

Earnings Market Reaction:

Filing Date:2026-07-30Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Cash And Cash Equivalents At Carrying Value	5	7	11	4	2	2	4	3	8	8	17	26
Notes And Loans Receivable Net Current	-	-	-	0	0	0	0	0	0	0	1	-
Accounts Receivable Net Current	-	-	-	-	-	0	0	0	0	0	0	0
Assets Current
Assets Current	7	11	13	4	2	2	5	4	9	10	18	27
Sales Type Lease Net Investment In Lease Excluding…	-	-	-	-	-	-	-	-	-	-	0	0
Inventory Net	0	0	0	0	0	0	0	0	1	1	1	1
Prepaid Expense And Other Assets Current	0	0	0	0	0	0	0	0	0	0	0	0
Assets Held For Sale Not Part Of Disposal Group Cu…	-	-	-	-	-	-	-	-	-	-	0	0
Property Plant And Equipment Net	5	6	6	6	5	11	16	17	17	14	10	12
Finite Lived Intangible Assets Net	0	0	0	0	0	0	0	0	0	0	0	0
Assets Noncurrent
Assets Noncurrent	6	6	6	7	7	16	22	24	24	21	15	15
Other Assets Noncurrent	0	0	0	1	2	5	5	8	7	7	5	1
Long Term Investments	-	-	-	-	-	-	-	-	-	-	0	2
Assets	13	17	20	11	9	18	26	28	34	31	34	42
Accounts Payable Current	0	1	1	1	1	1	1	1	2	2	2	1
Accrued Liabilities Current	2	2	4	3	2	3	3	2	3	3	2	2
Liabilities Current
Liabilities Current	3	4	4	3	4	7	8	7	8	8	5	4
Notes Payable Current	-	-	0	0	0	3	4	3	3	3	0	0
Long Term Notes Payable	-	-	-	-	-	-	0	-	-	-	3	-
Liabilities Noncurrent
Derivative Liabilities Noncurrent	-	-	-	-	-	1	1	-	-	-	0	-
Liabilities	3	4	5	4	4	9	10	8	8	9	8	7
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital Common Stock	288	288	285	273	268	266	264	261	261	252	250	249
Stockholders Equity
Stockholders Equity	10	13	15	7	5	10	16	21	25	23	26	35
Retained Earnings Accumulated Deficit	-279	-274	-270	-266	-263	-256	-248	-240	-235	-229	-223	-213
Treasury Stock Common Value	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-1	-1
Liabilities And Stockholders Equity	13	17	20	11	9	18	26	28	34	31	34	42
Common Stock Par Or Stated Value Per Share	0.001	-	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001
Common Stock Shares Authorized	300	-	300	300	300	300	300	300	300	200	300	200
Common Stock Shares Issued	4	-	3	2	1	1	1	1	1	1	1	1
Shares Outstanding	4	-	3	2	1	1	1	1	1	1	1	1
Treasury Stock Common Shares	0	-	0	0	0	0	0	0	0	0	0	0

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10‑Q10‑K

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-24.46%	-37.45%	-45.24%	-	-	-	-	-	-	-	-	-
2025	-27.69%	-52.94%	-52.49%	-1.18%	65.64%	92.42%	-5.52%	-29.96%	-37.32%	8.88%	-7.48%	-23.13%
2024	-3.74%	-20.70%	-22.94%	1.50%	-15.50%	-31.00%	31.94%	46.07%	-7.85%	-22.46%	-51.34%	-66.20%
2023	-	-	-	0.00%	0.00%	-32.74%	-8.74%	-20.00%	-39.58%	-8.92%	-19.14%	-29.18%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	2.43	3.07	3.03	1.15	0.65	0.31	0.57	0.59	1.19	1.19	3.97	7.45
Quick Ratio	2.27	2.91	2.91	1.04	0.53	0.24	0.51	0.52	1.05	1.03	3.73	7.15
Working Capital	4.05M	7.48M	8.98M	508.00K	-1.26M	-4.95M	-3.54M	-2.90M	1.46M	1.63M	13.69M	23.15M
Leverage & Debt
Debt to Equity	0.32	0.30	0.33	0.61	0.81	0.90	0.62	0.36	0.34	0.38	0.29	0.18
Interest Coverage TTM	-495.48	-69.07	-34.98	-26.49	-26.75	-30.70	-41.55	-72.69	-71.24	-46.75	-39.39	-28.40
Debt Ratio	0.24	0.23	0.25	0.38	0.45	0.47	0.38	0.27	0.25	0.27	0.22	0.16
Efficiency & Turnover
Asset Turnover TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding TTM	-	-	-	-	-	-	-	-	-	-	576.70	1,241.00
Receivables Turnover TTM	-	-	-	-	-	0.00	-	0.00	-	-	0.63	0.29
Per Share Metrics
Free Cash Flow Per Share TTM	-3.35	-3.55	-7.14	-7.39	-14.10	-21.75	-33.57	-36.75	-39.24	-15.90	-21.03	-15.50
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Operating Profit Margin TTM	-	-	-	-	-	-	-	-	-108,280.00%	-103,040.00%	-97,856.00%	-70,656.00%
Net Profit Margin TTM	-	-	-	-	-	-	-	-	-105,900.00%	-100,336.00%	-95,752.00%	-71,528.00%
Growth Metrics
Net Revenue Growth (1Y)	-	-	-	-	-100.00%	-100.00%	-100.00%	-100.00%	-	525.00%	525.00%	-85.88%
Net Income Growth (1Y)	-42.34%	-32.57%	-7.77%	-5.49%	4.77%	8.11%	2.58%	51.76%	53.75%	60.52%	55.13%	10.61%
EPS Growth (1Y)	-84.60%	-83.13%	-60.38%	-54.83%	-28.75%	-26.52%	-24.95%	13.13%	4.55%	18.56%	25.20%	-15.74%
Valuation Metrics
P/E TTM	-0.62	-0.76	-0.32	-0.36	-0.16	-0.56	-0.66	-0.94	-1.50	-2.36	-2.98	-6.42
P/B TTM	1.03	1.06	0.49	1.40	0.86	1.59	1.00	1.22	1.57	2.59	2.74	3.24
P/S TTM	-	-	-	-	-	-	-	-	1,584.55	2,368.37	2,855.53	4,593.12
Market Cap	9.85M	13.85M	7.17M	9.13M	4.41M	15.14M	16.18M	25.49M	39.61M	59.21M	71.39M	114.83M
Enterprise Value	5.11M	7.04M	-3.64M	5.54M	2.48M	16.82M	15.63M	25.53M	34.76M	53.89M	57.82M	89.26M
Calculated Values
Free Cash Flow TTM	-11.43M	-11.48M	-10.68M	-10.53M	-12.83M	-17.61M	-21.55M	-25.05M	-24.29M	-8.75M	-9.88M	-7.88M
Net Debt	-4.74M	-6.82M	-10.81M	-3.59M	-1.93M	1.68M	-543.00K	38.00K	-4.85M	-5.32M	-13.56M	-25.56M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2024-05-14Purchase

Owner: Merrill, Judd

Title: Chief Financial Officer

Shares: 37,500

Price/Share: $0.39

Value: $14,625.00

Shares Owned: 2,076,416

Relationship: Officer

Ownership: Direct

2024-05-14Purchase

Owner: Taecker, Benjamin S.

Title: Chief Eng and Opr Officer

Shares: 25,000

Price/Share: $0.39

Value: $9,750.00

Shares Owned: 1,114,929

Relationship: Officer

Ownership: Direct

2024-05-14Purchase

Owner: Cotton, Stephen

Title: Chief Executive Officer

Shares: 250,000

Price/Share: $0.39

Value: $97,500.00

Shares Owned: 6,352,233

Relationship: Director,Officer

Ownership: Direct

2024-05-14Purchase

Owner: Divito, Vincent L

Title: -

Shares: 62,500

Price/Share: $0.39

Value: $24,375.00

Shares Owned: 421,698

Relationship: Director

Ownership: Direct

2024-05-14Purchase

Owner: Zhang, Peifang

Title: -

Shares: 62,500

Price/Share: $0.39

Value: $24,375.00

Shares Owned: 313,550

Relationship: Director

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2024-05-14	Merrill, Judd	Officer	Chief Financial Officer	Direct	Purchase	37,500	0.39	$14,625.00	2,076,416	4
2024-05-14	Taecker, Benjamin S.	Officer	Chief Eng and Opr Officer	Direct	Purchase	25,000	0.39	$9,750.00	1,114,929	4
2024-05-14	Cotton, Stephen	Director,Officer	Chief Executive Officer	Direct	Purchase	250,000	0.39	$97,500.00	6,352,233	4
2024-05-14	Divito, Vincent L	Director	-	Direct	Purchase	62,500	0.39	$24,375.00	421,698	4
2024-05-14	Zhang, Peifang	Director	-	Direct	Purchase	62,500	0.39	$24,375.00	313,550	4
2024-05-14	Mcmurtry, David	Officer	Chief Business Officer	Direct	Purchase	25,000	0.39	$9,750.00	743,873	4
2024-05-14	Yi, Sung	Director	-	Indirect	Purchase	75,000	0.39	$29,250.00	105,500	4
2024-05-14	Smith, Edward J	Director	-	Direct	Purchase	25,000	0.39	$9,750.00	334,050	4
2023-11-17	Divito, Vincent L	Director	-	Direct	Purchase	5,000	0.89	$4,450.00	339,590	4
2023-07-19	Zhang, Peifang	Director	-	Direct	Purchase	72,900	1.10	$80,190.00	251,050	4
2023-07-19	Divito, Vincent L	Director	-	Direct	Purchase	9,000	1.10	$9,900.00	334,590	4
2023-07-19	Smith, Edward J	Director	-	Direct	Purchase	90,500	1.10	$99,550.00	309,050	4
2022-12-29	Zhang, Peifang	Director	-	Direct	Purchase	10,000	0.99	$9,900.00	133,095	4
2022-12-28	Kanen, David	Director	-	Indirect	Purchase	34,180	0.75	$25,635.00	351,218	4
2022-12-27	Kanen, David	Director	-	Indirect	Purchase	150,995	0.73	$110,226.35	325,683	4
2022-12-23	Philotimo, Fund, Lp, Kane…	DirectorOther	-	Indirect	Purchase	283,250	0.71	$201,107.50	212,437	4
2022-12-23	Divito, Vincent L	Director	-	Direct	Purchase	10,000	0.69	$6,900.00	257,408	4
2022-12-23	Zhang, Peifang	Director	-	Direct	Purchase	50,000	0.70	$35,000.00	123,095	4
2022-12-14	Smith, Edward J	Director	-	Direct	Purchase	100,000	0.64	$64,000.00	173,095	4
2022-07-08	Cotton, Stephen	Director,Officer	Chief Executive Officer	Direct	Sale	283,758	0.77	$218,493.66	3,787,217	4
2022-07-08	Taecker, Benjamin S.	Officer	Chief Eng and Opr Officer	Direct	Sale	49,556	0.77	$38,158.12	365,091	4
2022-03-24	Cotton, Stephen	Director,Officer	Chief Executive Officer	Direct	Sale	100,605	1.41	$141,853.05	4,070,975	4
2022-03-24	Taecker, Benjamin S.	Officer	Chief Eng and Opr Officer	Direct	Sale	13,431	1.41	$18,937.71	414,647	4
2022-01-05	Cotton, Stephen	Director,Officer	Chief Executive Officer	Direct	Sale	124,474	1.27	$158,081.98	4,171,580	4
2022-01-05	Taecker, Benjamin S.	Officer	Chief Eng and Opr Officer	Direct	Sale	35,676	1.27	$45,308.52	428,078	4
2021-07-02	Cotton, Stephen	Director,Officer	Chief Executive Officer	Direct	Sale	193,173	2.71	$523,498.83	1,483,354	4
2021-07-02	Merrill, Judd	Officer	Chief Financial Officer	Direct	Sale	85,311	2.71	$231,192.81	482,249	4
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Institutional Ownership

No data available for chart

2026-03-31

5.92%

Inst. Shares: 191,453

Shares Outstanding: 3,236,557

2025-12-31

16.19%

Inst. Shares: 242,003

Shares Outstanding: 1,494,502

2025-09-30

11.20%

Inst. Shares: 159,785

Shares Outstanding: 1,426,216

2025-06-30

92.64%

Inst. Shares: 843,143

Shares Outstanding: 910,129

2025-03-31

149.91%

Inst. Shares: 1,213,590

Shares Outstanding: 809,571

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	191,453	3,236,557	5.92%
2025-12-31	242,003	1,494,502	16.19%
2025-09-30	159,785	1,426,216	11.20%
2025-06-30	843,143	910,129	92.64%
2025-03-31	1,213,590	809,571	149.91%
2024-12-31	932,773	641,960	145.30%
2024-09-30	17,016,941	681,619	-
2024-06-30	18,063,411	618,965	-
2024-03-31	20,797,457	5,502,730	-
2023-12-31	19,168,172	4,696,597	-
2023-09-30	20,176,175	5,080,889	-
2023-06-30	14,421,437	84,184,884	17.13%
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Aqua Metals, Inc. (AQMS) — SEC Financial Statements & Analysis

Aqua Metals, Inc. (AQMS) is a secondary smelting & refining of nonferrous metals company, incorporated in DE. Aqua Metals, Inc. trades on Nasdaq as: AQMS. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), Aqua Metals, Inc. reported a -100.00% year-over-year revenue growth, a Debt-to-Equity ratio of 0.32x, a Price-to-Sales (P/S) ratio of 1584.55x (TTM), a Price-to-Book (P/B) ratio of 1.03x (TTM), at a market cap of $9.85M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: -100.00%
Debt To Equity: 0.32x
P/S TTM: 1584.55x
P/B TTM: 1.03x
Market Cap: $9.85M

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Aqua Metals, Inc. in?

Aqua Metals, Inc. (AQMS) operates in the Secondary Smelting & Refining of Nonferrous Metals industry.

What is AQMS's market cap?

Aqua Metals, Inc. (AQMS) has a market capitalization of $9.85M as of 2026-06-30.

What exchange does AQMS trade on?

Aqua Metals, Inc. (AQMS) trades on the Nasdaq.

Where is Aqua Metals, Inc. incorporated?

Aqua Metals, Inc. is incorporated in DE.

Aqua Metals, Inc.

Financial Statements

Custom Table

Interactive Financial Visualizations

Earnings Market Reaction

Performance and Valuation Metrics

Insider Transactions

Institutional Ownership

Aqua Metals, Inc. (AQMS) — SEC Financial Statements & Analysis

Frequently Asked Questions

Companies in Secondary Smelting & Refining of Nonferrous Metals

Wall Street's data.
Main Street's price.

Aqua Metals, Inc. (AQMS) — SEC Financial Statements & Analysis

Frequently Asked Questions

Companies in Secondary Smelting & Refining of Nonferrous Metals

Wall Street's data.Main Street's price.

Wall Street's data.
Main Street's price.