AirJoule Technologies Corporation has recently released its 10-K report, detailing its operations as an atmospheric renewable energy and water harvesting technology company. The company provides energy and dehumidification, evaporative cooling, and atmospheric water generation through its AirJoule technology. Headquartered in Ronan, Montana, the company was formerly known as Montana Technologies Corporation and changed its name to AirJoule Technologies Corporation in November 2024.
In the 10-K report, AirJoule Technologies discusses its growth strategy and outlook, anticipating significant opportunities in global markets with an estimated combined total addressable market of approximately $450 billion. The report highlights the company’s focus on commercialization and scaling manufacturing of its AirJoule systems through global partnerships with GE Vernova and Carrier, aiming to improve water security and reduce global emissions.
Item 7 of the report, "Management’s Discussion and Analysis of Financial Condition and Results of Operations," provides a detailed breakdown of the company's financial performance. For the year ended December 31, 2024, the company reported $215.7 million in net income, representing a significant increase compared to a net loss of $11.4 million in the previous year.
The report also outlines the components of the company's results of operations, including revenue, operating expenses, and other income (expense). It details the increase in general and administrative expenses to $9.0 million, research and development expenses of $2.0 million, and sales and marketing expenses of $0.2 million for the year ended December 31, 2024. Additionally, the report discusses transaction costs incurred in connection with the business combination, depreciation and amortization expenses, interest income, and gains and losses from investments and liabilities.
Today the company's shares have moved -20.6% to a price of $5.73. Check out the company's full 10-K submission here.
