374Water reports $2.2 million Q2 revenue after Orange County contract milestone

374Water Inc has reported a significant increase in preliminary revenue for the second quarter of 2026, driven by the successful completion of a Factory Acceptance Test with California's Orange County Sanitation District. The company announced that preliminary revenue exceeded $2.2 million, a sharp rise from $0.6 million during the same period last year. Approximately $2 million of this revenue is linked to the milestone achieved with OC San, marking a crucial step in the ongoing project.

The completion of the Factory Acceptance Test allows 374Water to move into the next phase of its agreement with OC San. This progression not only enables the company to recognize an additional $1.1 million in revenue but also positions them to receive $2.6 million in remaining billings as other operational milestones are met. The company has scheduled the deployment of its commissioning team and system for October, which underscores its commitment to advancing this key project.

In addition to the OC San contract, 374Water highlighted other successes, including a $4.8 million order from Olathe, Kansas, and a $600,000 pilot project in St. Cloud, Minnesota, which is entering its third phase. The company is also expanding its Waste Destruction Services facility in Orlando, Florida, which is essential for its recurring-revenue strategy. This facility currently boasts about 88,000 gallons of waste storage capacity.

Looking ahead, CEO Danny Bogar emphasized the company's focus on building long-term growth and strengthening operational foundations. 374Water aims to forge new partnerships, expand its Orlando facility, and commercialize its AFFF waste destruction services in the second half of 2024. The full financial results for the quarter ending June 30, 2026, are set to be released on August 14, which will provide further insight into the company's ongoing initiatives and financial health.