Aqua Metals Q1 net loss narrows to $3.95 million; Lion Energy deal dropped
Aqua Metals reported a first quarter 2026 net loss of $3.95 million, or $1.22 per share, down from $8.32 million, or $10.27 per share, in the first quarter of 2025. The company also said it will not proceed with the non-binding term sheet to acquire Lion Energy, and cash and cash equivalents fell to $6.8 million from $10.8 million at December 31, 2025.
Key points
- Q1 2026 net loss was $3.95 million ($1.22 per share) versus $8.32 million ($10.27 per share) in Q1 2025.
- Total operating expense was $4.14 million versus $8.68 million a year earlier; Q1 2025 included a $5.25 million impairment and loss on disposal.
- Cash and cash equivalents were $6.82 million at March 31, 2026, compared with $10.81 million at December 31, 2025.
- The company will not pursue the Lion Energy acquisition under the February 11, 2026 term sheet terms and is evaluating alternative structures.
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 14, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.