Aqua Metals, Inc.
AQMSOther · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | — | $0 | $25,000 | $4,000 | $173,000 | $108,000 |
| Operating income | −$23.3M | −$23.8M | −$24.5M | −$15.6M | −$17.5M | −$15.4M |
| Net income | −$22.6M | −$24.6M | −$23.9M | −$15.4M | −$18.2M | −$25.8M |
| Total assets | $19.7M | $26.4M | $33.6M | $33.5M | $33.3M | $35.1M |
| Total liabilities | $4.9M | $10.1M | $7.5M | $12.6M | $5.7M | $4.0M |
| Equity | $14.8M | $16.2M | $26.1M | $20.9M | $27.5M | $31.1M |
| EPS (diluted) | $-15.15 | $-38.25 | $-5.10 | $-0.20 | $-0.26 | — |
| Shares out. | 8.3M | 112.0M | 81.3M | 71.3M | 67.1M | 59.8M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- −153.3%
- Return on assets
- −114.9%
- Return on capital (ROCE)
- −152.7%
- Liabilities / assets
- 25.0%
- Debt / equity
- 0.33×
- Book value / share
- $1.78
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -46.56distress
- Accruals / assets
- −62.9%clean
- Piotroski F-Score
- 4/7mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 2 severe● 1 warning● 2 good- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Negative operating cash flow
- Conservative leverage (liabilities < 50% of assets)
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗May 17, 2016
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| West EricOfficer — Chief Financial Officer | May 19, 2026 | Tax withholding | 721 | $3.91 |
| West EricOfficer — Chief Financial Officer | Apr 13, 2026 | Tax withholding | 863 | $3.92 |
| Taecker Benjamin S.Officer — Chief Eng and Opr Officer | Apr 13, 2026 | Tax withholding | 715 | $3.92 |
| Cotton StephenOfficer — Chief Executive Officer | Apr 13, 2026 | Tax withholding | 2,352 | $3.92 |
| Cotton StephenOfficer — Chief Executive Officer | Feb 24, 2026 | Tax withholding | 3,307 | $4.76 |
| Taecker Benjamin S.Officer — Chief Eng and Opr Officer | Feb 24, 2026 | Tax withholding | 1,006 | $4.76 |
| West EricOfficer — Chief Financial Officer | Feb 24, 2026 | Tax withholding | 1,214 | $4.76 |
| West EricOfficer — Chief Financial Officer | Feb 13, 2026 | Grant | 28,390 | $4.72 |
| Cotton StephenOfficer — Chief Executive Officer | Feb 13, 2026 | Grant | 79,873 | $4.72 |
| Taecker Benjamin S.Officer — Chief Eng and Opr Officer | Feb 13, 2026 | Grant | 23,306 | $4.72 |
| Taecker Benjamin S.Officer — Chief Eng and Opr Officer | Jan 7, 2026 | D | 13 | $0.00 |
| Cotton StephenOfficer — Chief Executive Officer | Jan 7, 2026 | D | 2,100 | $0.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 238,985 | 3.8 | -11.2% |
| Apr 30, 2026 | 269,095 | 4.7 | -5.6% |
| Apr 15, 2026 | 284,953 | 7.6 | -4.6% |
| Mar 31, 2026 | 298,621 | 7.8 | +2.3% |
| Mar 13, 2026 | 291,979 | 8.4 | -19.2% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operationsMay 14, 2026
- Results of operationsMar 31, 2026
- Entered a material agreement · Completed an acquisition or disposition · Other material eventFeb 11, 2026
- Other material eventDec 2, 2025
- Results of operationsNov 12, 2025
- Entered a material agreement · Unregistered equity saleOct 16, 2025
- Delisting / listing-standard noticeSep 8, 2025
- Results of operationsAug 13, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 4FORM 4May 20, 2026
- 8-KFORM 8-KMay 14, 2026
- 10-QFORM 10-QMay 14, 2026
- 10-K/AFORM 10-K/AApr 30, 2026
- 4FORM 4Apr 15, 2026
- 4FORM 4Apr 15, 2026
- 4FORM 4Apr 15, 2026
- 8-KFORM 8-KMar 31, 2026
- 10-KFORM 10-KMar 31, 2026
- 4FORM 4Feb 26, 2026
- 4FORM 4Feb 26, 2026
- 4FORM 4Feb 26, 2026
- 4FORM 4Feb 17, 2026
- 4FORM 4Feb 17, 2026
- 4FORM 4Feb 17, 2026
Event-driven situations (1)
Spot an error in this record? Report it. Every correction is verified against the source filing before we change anything.