Aquabounty Technologies Inc (OQ:AQB)
Business Focus: Aquaculture
| Sector: Consumer Non-Cyclicals | Industry: Fishing & Farming |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 233 Ayer Road Suite 4, Suite 4 HARVARD MA 01451 |
| Tel: | N/A |
| Website: | https://aquabounty.com |
| IR: | See website |
| Key People | ||
| Sylvia A. Wulf Chairman of the Board, Chief Executive Officer | David F. Melbourne President | David A. Frank Chief Financial Officer, Treasurer | Angela M. Olsen General Counsel, Corporate Secretary |
| Business Overview |
| AquaBounty Technologies, Inc. is a land-based aquaculture company. The Company provides fresh Atlantic salmon to nearby markets by raising its fish in monitored land-based fish farms. Its land-based Recirculating Aquaculture System (RAS) farms, including a grow-out farm located in Indiana, United States and a broodstock and egg production farm located on Prince Edward Island, Canada, are designed to prevent disease and to include multiple levels of fish containment to protect wild fish populations. RAS facilities provide water treatment technology, including the use of ozone, salt treatment and ultraviolet radiation to kill potential bacterial, fungal, or viral pathogens which might enter the system. The Company is vertically integrated and maintains its own broodstock hatchery, which produces the eggs that it grow-out to harvest size in its production farms. The Company has expertise in fish breeding, genetics, and health and nutrition to deliver disruptive solutions. |
| Financial Overview |
| For the three months ended 31 March 2024, Aquabounty Technologies Inc revenues increased 20% to $477K. Net loss increased 72% to $11.2M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Interest Expense increase from $66K to $209K (expense), Other Income (expense), Net decrease from $63K (income) to $1K (expense). |
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