Revenue Performance - Product revenue for Q2 2024 was $180,000, a decrease of 77% compared to $788,000 in Q2 2023[81] - GE Atlantic salmon revenue was $0 in Q2 2024, down from $755,000 in Q2 2023, marking a 100% decrease[84] - Total product revenue for the six months ended June 30, 2024, was $657,000, a decline of 45% from $1,186,000 in the same period of 2023[92] Financial Losses - Operating loss for Q2 2024 was $49.5 million, a significant increase of 669% from $6.4 million in Q2 2023[81] - The company recorded a net loss of $50.5 million in Q2 2024, up 676% from a net loss of $6.5 million in Q2 2023[81] - The company expects to continue incurring net losses and negative cash flows from operating activities for the foreseeable future[104] Expenses - Research and development expenses decreased by 63% to $65,000 in Q2 2024 from $178,000 in Q2 2023[81] - General and administrative expenses increased by 12% to $3.4 million in Q2 2024 from $3.1 million in Q2 2023[81] Cash Flow and Liquidity - Net cash used in operating activities for the six months ended June 30, 2024, was $61.7 million, compared to a net loss of $13.0 million for the same period in 2023[101] - Cash flows from investing activities decreased significantly, with $2.0 million used in 2024 compared to $46.6 million in 2023[103] - The company had $728 thousand in cash and cash equivalents as of June 30, 2024, raising concerns about its ability to continue as a going concern[104] - Cash provided by working capital improved due to reductions in inventory and other current assets[102] Financing Activities - Financing activities generated $5.1 million from new debt in 2024, a substantial increase from $394 thousand in 2023[103] - A loan agreement was entered into for up to $10 million to fund working capital, with $5 million advanced in April 2024[106] - The sale of the Indiana farm and certain equipment generated net proceeds of $9.2 million, aimed at increasing cash liquidity[107] - Interest-bearing debt increased to $6.7 million as of June 30, 2024, from $4.6 million at the end of 2023[116] - The company may finance its cash needs through sales of non-core assets, equity offerings, and debt financings, which could dilute existing shareholders[108] Market Conditions - The company is actively seeking new financing options to support construction and working capital needs[69] - Inflation is expected to continue negatively impacting the company's results in the near term[70]

Exhibit 99.1 AquaBounty Technologies Announces Second Quarter 2024 Financial Results HARVARD, Mass., August 6, 2024 -- AquaBounty Technologies, Inc. (NASDAQ: AQB) ("AquaBounty" or the "Company"), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced the Company's financial results for the second quarter and six months ended June 30, 2024. Second Quarter 2024 Highlights and Recent Developments · Net loss in the second quarter of 2024 was up signific ...

Harvard, Massachusetts--(Newsfile Corp. - August 6, 2024) - AquaBounty Technologies, Inc. (NASDAQ: AQB) ("AquaBounty" or the "Company"), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced the Company's financial results for the second quarter and six months ended June 30, 2024.Second Quarter 2024 Highlights and Recent DevelopmentsNet loss in the second quarter of 2024 was up significantly at $50.5 million as compared to $6.5 million in the seco ...

David F. Melbourne Jr. Promoted to Chief Executive Officer of AquaBounty; Sylvia Wulf to Continue as Non-Executive Board ChairJune 07, 2024 8:00 AM EDT | Source: AquaBounty Technologies, Inc.Harvard, Massachusetts--(Newsfile Corp. - June 7, 2024) - The Board of Directors of AquaBounty Technologies, Inc. (NASDAQ: AQB) ("AquaBounty" or the "Company"), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced that David F. Melbourne Jr. has ...

AquaBounty Technologies, Inc. (AQB) came out with a quarterly loss of $1.53 per share versus the Zacks Consensus Estimate of a loss of $1.42. This compares to loss of $1.80 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.75%. A quarter ago, it was expected that this company would post a loss of $1.52 per share when it actually produced a loss of $2.19, delivering a surprise of -44.08%.Over the last four quarters, the compan ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________ Form 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------|----------------------- ...

Exhibit 99.1 AquaBounty Technologies Announces First Quarter 2024 Financial Results HARVARD, Mass., May 15, 2024 -- AquaBounty Technologies, Inc. (NASDAQ: AQB) ("AquaBounty" or the "Company"), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced the Company's financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights and Recent Developments | --- | --- | |------------------------------------------------------------ ...

Table of Contents | --- | --- | --- | --- | --- | |----------------------------------------------------|--------------------|-----------------------------------------------------------------|-------------------------------|-------| | | | | | | | | | Commission file number: 001-36426 _____________________________ | | | | AquaBounty | (Exact name of | Technologies, registrant as specified in its charter) | Inc. | | | Delaware (State or other jurisdiction of | | | 04-3156167 (I.R.S. Employer | | | incorporatio ...

Exhibit 99.1 AquaBounty Technologies Announces Fourth Quarter and Full Year 2023 Financial Results HARVARD, Mass., April 1, 2024 -- AquaBounty Technologies, Inc. (NASDAQ: AQB) ("AquaBounty" or the "Company"), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced the Company's financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter and Full Year 2023 Highlights and Recent Developments · Generated $553 thousand ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________ Form 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------|--------------- ...