The following is a summary of the Aqua Metals, Inc. (AQMS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Aqua Metals reported a cash balance of approximately $3 million by the end of Q3 2024.

• The company implemented a reverse stock split to meet NASDAQ listing requirements.

• Net loss for Q3 2024 was approximately $5.2 million, translating to a negative $0.76 per share.

• Net loss for the nine months ended September 30, 2024, was roughly $17 million, or a negative $2.77 per share.

Business Progress:

• Advanced pilot operations at AquaRefining, consistently producing high-purity lithium carbonate over 99.5%.

• Progressing strategic financing and commercial initiatives to support expansion, including Sierra AquaRefining Campus.

• Engaged in substantial commercial discussions revolving around potential long-term off-take and supply agreements, particularly for the Sierra ARC facility.

Opportunities:

• Long-term financing term sheets in place to build out phases 1 and 2 of the Sierra ARC.

• Commercial agreements and substantial capital commitment for growth showcasing potential to meet increasing demands for lithium recycling.

Risks:

• Delayed funding impacts the progression to commercial scale; the company is working to finalize financing for essential phases.

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