AQUABOUNTY TECHNOLOGIES INC SEC 10-Q Report

AquaBounty Technologies Inc., a biotechnology company specializing in genetically engineered fish, has released its Form 10-Q report for the third quarter of 2025. The report outlines significant financial and operational changes, including the impact of asset sales and strategic shifts in the company's operations.

Financial Highlights

Revenue: AquaBounty reported no revenue for the three months ended September 30, 2025, a decline from $47,812 in the same period in 2024. This decrease is attributed to the sale of farms and the cessation of operations.

Operating Loss: The company recorded an operating loss of $1.48 million for the three months ended September 30, 2025, an improvement from the $1.62 million loss in 2024. This improvement reflects reduced general and administrative expenses.

Net Loss: AquaBounty's net loss for the three months ended September 30, 2025, was $1.38 million, compared to $3.40 million in 2024. The reduction in net loss is primarily due to decreased operating costs and asset sales.

Net Loss Per Share: The net loss per share was $(0.36) for the three months ended September 30, 2025, compared to $(0.88) in 2024, indicating improved financial performance and cost management.

Business Highlights

Discontinued Operations: AquaBounty Technologies sold its Indiana Farm in July 2024 and its Canadian Farms in March 2025, marking a strategic shift in operations. These sales have been classified as discontinued operations, significantly impacting the company's operational focus.

Operational Focus: The company has paused construction of its Ohio Farm Project due to increased costs and is exploring strategic alternatives for this asset, including potential new investments or partnerships.

Asset Sales: Throughout 2024 and 2025, AquaBounty engaged in recurring sales of selected equipment originally intended for the Ohio Farm Project, as well as the sale of its Canadian subsidiary's assets, including intellectual property for GE Atlantic salmon.

Headcount and Cost Reduction: Following the winding down of fish rearing operations, AquaBounty has significantly reduced its headcount and ongoing operating costs, maintaining a small core team to oversee strategic options and asset transactions.

Future Outlook: The company is focused on realizing the potential of its Ohio Farm Project through new investment, partnership, or other strategic options, while continuing to sell available Ohio Equipment Assets to generate liquidity.

General and Administrative Expenses: These expenses have decreased due to reductions in personnel costs, legal fees, and other professional fees, although there were increases in insurance costs and a legal settlement expense.

Strategic Alternatives: AquaBounty is working with an investment bank to identify optimal paths forward for its remaining assets, emphasizing the need for additional capital to continue operations and explore strategic opportunities.

SEC Filing: AQUABOUNTY TECHNOLOGIES INC [ AQB ] - 10-Q - Oct. 28, 2025