Aquabounty Technologies
AQBUSD
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- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- — Prior regular-session close from the quote source.
- — Regular-session low and high so far today.
- — Regular-session shares traded.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- — 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own AQB if AQB is a distressed asset-sale option on the Ohio Farm Project, not an aquaculture growth company.
AQB price history
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Investment thesis
What must happen next
Because AquaBounty sold its farms and GE salmon IP, common-equity value now depends on converting the impaired Ohio Farm Project into cash or an assumed-liability sale; absent a binding buyer, creditors and carrying costs can absorb the residual value.StrengtheningMateriality: High
Item 1 says that after the Indiana Farm, Canadian Farms, and Corporate IP sales, the company’s primary remaining asset is the Ohio Farm Project. If Ohio monetization clears liabilities, common shareholders may retain option value; if not, the equity is structurally impaired.
Watch: The prospective Ohio subsidiary buyer signs a binding purchase agreement with proceeds or assumed liabilities sufficient to restore positive residual equity.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 says that after the Indiana Farm, Canadian Farms, and Corporate IP sales, the company’s primary remaining asset is.
Open source ↗The company has little room to wait because asset sales have replaced operations as the funding source; without new capital or an asset closing, liquidity pressure will dictate terms and raise dilution or distress risk.StrengtheningMateriality: High
MD&A says AquaBounty had $501 thousand of cash at December 31, 2025 and requires new funding to provide liquidity for working capital and its evolving strategic plan. Timing matters more than long-term industry potential: weak liquidity can force a value-destructive transaction before shareholders see any upside.
Watch: A binding Ohio asset sale closes with substantial upfront cash proceeds.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
MD&A says AquaBounty had $501 thousand of cash at December 31, 2025 and requires new funding to provide liquidity for.
Open source ↗Exiting fish rearing can shrink the loss base because sales and marketing and R&D are gone and only a small corporate staff remains; the benefit fails if transaction, legal, site-maintenance, or public-company costs replace farm operating costs.StrengtheningMateriality: Medium
MD&A says AquaBounty no longer has sales and marketing expenses or research and development operations after the cessation of salmon rearing activities in March 2025. Lower burn extends the time available to sell Ohio or find a strategic alternative; renewed losses shorten the runway and increase financing risk.
Watch: The Ohio site sale stalls and maintenance, security, taxes, or insurance costs persist longer than expected.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
MD&A says AquaBounty no longer has sales and marketing expenses or research and development operations after the cessation of salmon.
Open source ↗AquaBounty no longer has the proprietary GE salmon moat that could have justified a premium operating story; any upside must come from a new strategic direction or shell-and-asset transaction, not from scaling its former biotechnology aquaculture platform.StrengtheningMateriality: Medium
Item 1 says AquaBounty sold the Canadian Farms and Corporate IP, including the intellectual property for the GE Atlantic salmon, in March 2025. Investors should underwrite a restructuring outcome, not a revival of the old GE salmon growth thesis.
Watch: The buyer of the GE salmon IP grants AquaBounty a license-back or joint venture that restores participation in the GE salmon economics.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 says AquaBounty sold the Canadian Farms and Corporate IP, including the intellectual property for the GE Atlantic salmon.
Open source ↗
Full investment case & evidence
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Original research
Because AquaBounty sold its farms and GE salmon IP, common-equity value now depends on converting the impaired Ohio Farm Project into cash or an assumed-liability sale; absent a binding buyer, creditors and carrying costs can absorb the residual value. If Ohio monetization clears liabilities, common shareholders may retain option value; if not, the equity is structurally impaired.
The company has little room to wait because asset sales have replaced operations as the funding source; without new capital or an asset closing, liquidity pressure will dictate terms and raise dilution or distress risk. Timing matters more than long-term industry potential: weak liquidity can force a value-destructive transaction before shareholders see any upside.
Exiting fish rearing can shrink the loss base because sales and marketing and R&D are gone and only a small corporate staff remains; the benefit fails if transaction, legal, site-maintenance, or public-company costs replace farm operating costs. Lower burn extends the time available to sell Ohio or find a strategic alternative; renewed losses shorten the runway and increase financing risk.
AquaBounty no longer has the proprietary GE salmon moat that could have justified a premium operating story; any upside must come from a new strategic direction or shell-and-asset transaction, not from scaling its former biotechnology aquaculture platform. Investors should underwrite a restructuring outcome, not a revival of the old GE salmon growth thesis.
All standing thesis claims
Original report summary
AQB is a distressed asset-sale option on the Ohio Farm Project, not an aquaculture growth company.
Bull case and bear case
Bull case and bear case for Aquabounty Technologies
Where the evidence on Aquabounty Technologies stands: Strengthening on the latest evidence (Oct 15, 2026). Of its 4 thesis points, 4 strengthening.
Bull case: what the evidence supports
Because AquaBounty sold its farms and GE salmon IP, common-equity value now depends on converting the impaired Ohio Farm Project into cash or an assumed-liability sale; absent a binding buyer, creditors and carrying costs can absorb the residual value.
The company has little room to wait because asset sales have replaced operations as the funding source; without new capital or an asset closing, liquidity pressure will dictate terms and raise dilution or distress risk.
Exiting fish rearing can shrink the loss base because sales and marketing and R&D are gone and only a small corporate staff remains; the benefit fails if transaction, legal, site-maintenance, or public-company costs replace farm operating costs.
AquaBounty no longer has the proprietary GE salmon moat that could have justified a premium operating story; any upside must come from a new strategic direction or shell-and-asset transaction, not from scaling its former biotechnology aquaculture platform.
Bear case: what would count against it
The prospective Ohio subsidiary buyer signs a binding purchase agreement with proceeds or assumed liabilities sufficient to restore positive residual equity.
A binding Ohio asset sale closes with substantial upfront cash proceeds.
The Ohio site sale stalls and maintenance, security, taxes, or insurance costs persist longer than expected.
Thesis-Break Engine
Thesis-break watch · Aquabounty Technologies
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedEntered a material definitive agreement.
Aquabounty Technologies filed an SEC 8-K on 2026-10-08: Entered a material definitive agreement. It is a dated development that tests the current thesis.
- MixedRegulation FD disclosure.
Aquabounty Technologies filed an SEC 8-K on 2026-08-06: Regulation FD disclosure. It is a dated development that tests the current thesis.
- MixedOther material event.
Aquabounty Technologies filed an SEC 8-K on 2026-07-08: Other material event. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- The prospective Ohio subsidiary buyer signs a binding purchase agreement with proceeds or assumed liabilities sufficient to restore positive residual equity.
- A binding Ohio asset sale closes with substantial upfront cash proceeds.
- The Ohio site sale stalls and maintenance, security, taxes, or insurance costs persist longer than expected.
- The buyer of the GE salmon IP grants AquaBounty a license-back or joint venture that restores participation in the GE salmon economics.
AQB news
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Financial statements
AQB income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.