AquaBounty Technologies(AQB) - 2024 Q4 - Annual Results

Financial Performance - For the year ended December 31, 2024, product revenue totaled $789 thousand, a year-over-year decrease of 68$2.5 million in 2023[7] - Net loss for the year ended December 31, 2024 increased to $149.2 million compared to$27.6 million in 2023, including asset impairment charges of $129.8 million[7] - The company reported a comprehensive loss of$149.5 million for the year ended December 31, 2024, compared to $27.4 million in 2023[12] Cash and Assets - Cash, cash equivalents, and restricted cash totaled$230 thousand as of December 31, 2024, down from $9.2 million as of December 31, 2023[7] - Total current assets decreased to$11.3 million in 2024 from $31.0 million in 2023[11] - Total liabilities decreased to$18.2 million in 2024 from $22.5 million in 2023[11] Asset Sales and Proceeds - The company completed the auction of certain Ohio Equipment Assets for net proceeds of$2.2 million on February 11, 2025[4] - The sale of Canadian Farms and Corporate IP generated net proceeds of $1.9 million on March 3, 2025[4] Project Status and Future Plans - Construction activities for the Ohio Farm Site remained on pause throughout 2024, pending new sources of financing[7] - The company plans to continue assessing strategic alternatives for the Ohio Farm Project and marketing available assets to generate cash[4]