AirJoule Technologies Corporation reported its financial results for the second quarter of 2025, revealing a net income of $2.5 million for the three months ended June 30, 2025, compared to $13.4 million for the same period in 2024. For the six months ended June 30, 2025, the company recorded a net income of $17.4 million, a significant decrease from $195 million in the prior year, primarily due to a one-time gain of $333.5 million recognized in 2024 from the contribution of intellectual property to AirJoule, LLC. The company’s revenue remains at zero, as it has not yet commenced sales of its products.
In terms of operational metrics, AirJoule's general and administrative expenses increased to $3.8 million in Q2 2025 from $3.2 million in Q2 2024, driven by higher share-based compensation and professional services costs. Research and development expenses decreased significantly, reflecting a shift in focus and resource allocation. The company also reported a loss from operations of $4.2 million for the quarter, a slight improvement from a loss of $4.3 million in the same quarter last year.
Strategically, AirJoule has made notable advancements, including the completion of a PIPE offering in April 2025, which raised approximately $14.6 million through the sale of 3.8 million shares at $3.98 each. The company has also entered into a committed equity facility allowing it to raise up to $30 million over the next three years, although no sales under this agreement have commenced as of June 30, 2025. Additionally, AirJoule continues to invest in its joint venture with GE Vernova, contributing $10 million to the AirJoule JV, with a remaining commitment of $85 million.
As of June 30, 2025, AirJoule reported total assets of $376.1 million, with cash and cash equivalents amounting to $30.5 million. The company’s stockholders' equity increased to $288.6 million, up from $252.1 million at the end of 2024. Looking ahead, AirJoule aims to scale its manufacturing capabilities and commercialize its technology, targeting markets with high demand for water and energy solutions. The company anticipates that its strategic partnerships will facilitate market penetration and product development, positioning it for future growth in a projected $450 billion addressable market.
About AirJoule Technologies Corp.
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