AirJoule Technologies Corporation reported its financial results for the third quarter of 2025, revealing a net loss of $4.0 million, compared to a net income of $35.0 million in the same period last year. The company’s revenue remains non-existent as it continues to focus on product development and market entry. For the nine months ended September 30, 2025, the company recorded a net income of $13.4 million, a significant decrease from $230.0 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.
Operating expenses for the third quarter increased to $3.0 million from $2.4 million year-over-year, driven by higher general and administrative costs, particularly in share-based compensation. Research and development expenses showed a notable decrease, reflecting a reversal of previously accrued costs. The company’s total assets as of September 30, 2025, stood at $372.7 million, slightly up from $369.9 million at the end of 2024, with cash and cash equivalents totaling $26.0 million.
In terms of strategic developments, AirJoule has been actively pursuing partnerships to enhance its market presence. The company entered into a PIPE transaction in April 2025, raising approximately $14.2 million through the issuance of 3.8 million shares of Class A common stock. Additionally, AirJoule has committed to contribute $82.3 million to its joint venture with GE Vernova, aimed at commercializing its water generation technology. The company is also focused on scaling its manufacturing capabilities and expects to launch initial AirJoule systems capable of producing over 250 liters of water per day in 2025.
Operationally, AirJoule has not reported any revenue yet, as it is still in the development phase of its technology. The company is targeting industries with high water and energy demands, such as data centers and advanced manufacturing, and estimates a total addressable market of approximately $450 billion. The management anticipates that future capital requirements will depend on the success of its product launches and the establishment of strategic partnerships. The company remains an emerging growth entity and has opted to delay the adoption of certain accounting standards, which may affect comparability with other public companies.
About AirJoule Technologies Corp.
AirJoule Technologies develops innovative water harvesting and dehumidification systems that extract pure water from atmospheric vapor using energy-efficient sorbent and pressure swing technologies. Its solutions target water scarcity, industrial dehumidification, HVAC efficiency, and sustainability markets worldwide. Through strategic partnerships with industry leaders like GE Vernova, BASF, CATL, and Carrier, the company aims to commercialize scalable, environmentally friendly systems for industrial, data center, manufacturing, military, and HVAC applications.
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