AirJoule Technologies Announces Second Quarter 2026 Results and Provides Business Update
AirJoule Technologies Corp. (AIRJ) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 AirJoule Technologies Announces Second Quarter 2026 Results and Provides Business Update AIRJ Signs Exclusive Sales Agreement with Kubota Corporation, Commissions First Full-Scale AirJoule Prime System, and Extends Commercialization into the UAE Ronan, Mont., August
How this was made
The 30-second read
Why it matters
The most tradable elements are the exclusive Kubota sales agreement (deployment start in Q3 2026), the first Prime system operating outdoors and the expected first Prime shipment to Europe in Q3 2026, plus an updated 2026 combined cash spend framework ($27M to $28M).
Market read
Traders can reassess AIRJ’s commercialization timeline and funding runway after the filing’s partnership and spend-framework updates.
What to watch
Key sensitivities are whether Prime/Core deployments convert into recurring orders, manufacturing readiness for cost reduction, and whether the updated 2026 spend increase is matched by measurable commercial traction.
AirJoule Technologies Announces Second Quarter 2026 Results and Provides Business Update
AIRJ advanced commercialization through the Kubota agreement, Prime commissioning, and UAE deployment, but reported a $8,533,565 net loss, no reported revenue, and increased its combined 2026 cash-spend framework to approximately $27 million to $28 million.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| General and administrativeGAAP | $ 3,817,932 | – | – |
| Research and developmentGAAP | $ 172,807 | – | – |
| Sales and marketingGAAP | $ 118,047 | – | – |
| Depreciation and amortizationGAAP | $ 4,405 | – | – |
| Loss from operationsGAAP | $ (4,113,191 ) | – | – |
| Interest incomeGAAP | $ 292,929 | – | – |
| Equity loss from investment in AirJoule, LLCGAAP | $ (2,510,952 ) | – | – |
| Change in fair value of Earnout Shares liabilityGAAP | $ (2,393,000 ) | – | – |
| Change in fair value of Subject Vesting Shares liabilityGAAP | $ (2,730,000 ) | – | – |
| Total other income (expense), netGAAP | $ (7,341,023 ) | – | – |
| Income (loss) before income taxesGAAP | $ (11,454,214 ) | – | – |
| Income tax benefitGAAP | $ 2,920,649 | – | – |
| Net income (loss)GAAP | $ (8,533,565 ) | – | – |
| Basic net income (loss) per share, Class A common stockGAAP | $ (0.12 ) | – | – |
| Diluted net income (loss), per share, Class A common stockGAAP | $ (0.12 ) | – | – |
| Weighted average Class A common stock outstanding, basicGAAP | 69,735,011 | – | – |
| Weighted average Class A common stock outstanding, dilutedGAAP | 69,735,011 | – | – |
| Six-month loss from operationsGAAP | $ (7,722,813 ) | – | – |
| Six-month net income (loss)GAAP | $ (58,359,106 ) | – | – |
| Six-month basic net income (loss) per share, Class A common stockGAAP | $ (0.85 ) | – | – |
| Six-month diluted net income (loss), per share, Class A common stockGAAP | $ (0.85 ) | – | – |
2026 outlook
- Noteapproximately $27 million to $28 million of combined cash spend across AirJoule Technologies and the AirJoule joint venture during 2026
- NoteAIRJ has sufficient liquidity to fund operations, the joint venture, and planned commercial deployments into 2028.
- NoteAIRJ expects to ship its first AirJoule Prime system to Europe in the third quarter of 2026.
- NoteTwo AirJoule Core systems will be deployed at sites near Corpus Christi, Texas, and Irvine, California, with deployment commencing in the third quarter of 2026.
What drove it
- AIRJ entered into an exclusive sales agreement under which Kubota Corporation will act as the exclusive sales channel for AirJoule systems into multi-unit residential developments in Texas and California.
- AIRJ commissioned its first full-scale AirJoule Prime system at its Newark, Delaware facility in May 2026.
- AIRJ completed the Net Zero Innovation Hub for Data Centers technology acceleration program in June 2026.
- An AirJoule Core system is installed at GE Vernova's Advanced Research Center Frontier Campus and operates as a demonstration unit.
- AIRJ shipped an AirJoule Core system to the UAE in early August 2026 for customer demonstrations and performance validation.
- AIRJ is completing design for manufacturing, cost reduction, reliability testing, product certification, bill-of-materials reduction, and contract manufacturing preparations.
Concerns
- The condensed consolidated statements of operations do not report revenue or gross profit.
- AIRJ reported a $ (8,533,565 ) net loss and $ (0.12 ) diluted net loss per share for the three months ended June 30, 2026.
- Equity loss from investment in AirJoule, LLC was $ (2,510,952 ) for the quarter and $ (65,658,820 ) for the six months ended June 30, 2026.
- AIRJ updated its combined 2026 cash-spend expectation to approximately $27 million to $28 million, compared with approximately $25 million communicated previously.
- Prime system performance is progressing toward the published specification rather than reported as having achieved it.
What to watch
- Deployment of the two Kubota AirJoule Core systems near Corpus Christi, Texas, and Irvine, California, commencing in the third quarter of 2026.
- Shipment and deployment of the first AirJoule Prime system in Europe in the third quarter of 2026.
- Performance of the commissioned Prime system against the published specification of up to 2,000 liters per day at less than 200 watt-hours per liter when paired with low-grade waste heat.
- Execution of the AirJoule Core demonstration program in the UAE beginning at Expo City Dubai.
- Progress on design for manufacturing, bill-of-materials reduction, reliability testing, product certification, and contract manufacturing preparations.
- Combined cash spend across AirJoule Technologies and the joint venture during 2026.
Balance sheet and cash flow
- Cash, cash equivalents and restricted cash as of June 30, 2026: $ 41,417,134; December 31, 2025: $ 21,848,455.
- Total current assets as of June 30, 2026: $ 43,175,366; December 31, 2025: $ 23,811,617.
- Investment in AirJoule, LLC as of June 30, 2026: $ 263,498,454; December 31, 2025: $ 316,657,273.
- Total assets as of June 30, 2026: $ 306,840,266; December 31, 2025: $ 340,642,232.
- Total current liabilities as of June 30, 2026: $ 2,191,264; December 31, 2025: $ 2,263,762.
- Total liabilities as of June 30, 2026: $ 58,202,464; December 31, 2025: $ 72,704,371.
- Total stockholders' equity as of June 30, 2026: $ 248,637,802; December 31, 2025: $ 267,937,861.
- Combined cash across AirJoule Technologies and the joint venture was $43.0 million with no debt.
- AIRJ received $14.2 million of net proceeds from a registered direct offering completed in June 2026.
- Net cash used in operating activities for the six months ended June 30, 2026: $ (3,759,952 ); six months ended June 30, 2025: $ (2,163,485 ).
- Purchases of property and equipment for the six months ended June 30, 2026: $ (19,506 ); six months ended June 30, 2025: $ (11,376 ).
- Investment in AirJoule, LLC for the six months ended June 30, 2026: $ (12,500,000 ); six months ended June 30, 2025: $ (10,000,000 ).
- Net cash used in investing activities for the six months ended June 30, 2026: $ (12,519,506 ); six months ended June 30, 2025: $ (10,011,376 ).
- Proceeds from the issuance of common stock for the six months ended June 30, 2026: $ 36,453,501.
- Net cash provided by financing activities for the six months ended June 30, 2026: $ 35,848,137; six months ended June 30, 2025: $ 14,655,824.
- Net increase in cash, cash equivalents and restricted cash for the six months ended June 30, 2026: $ 19,568,679; six months ended June 30, 2025: $ 2,480,963.
Analysis
AIRJ's second-quarter update centered on commercial deployment activity rather than reported revenue. The company signed an exclusive sales agreement with Kubota for multi-unit residential developments in Texas and California, with two Core deployments commencing in the third quarter of 2026. It also completed the Net Zero Innovation Hub for Data Centers program, expects to ship its first Prime system to Europe in the third quarter of 2026, and shipped a Core system to the UAE in early August for demonstrations and performance validation.
The income statement reported a $ (4,113,191 ) loss from operations and a $ (8,533,565 ) net loss for the three months ended June 30, 2026, compared with net income of $ 2,513,213 in the prior-year quarter. The quarterly result included a $ (2,510,952 ) equity loss from investment in AirJoule, LLC, a $ (2,393,000 ) change in fair value of Earnout Shares liability, and a $ (2,730,000 ) change in fair value of Subject Vesting Shares liability. No revenue, gross profit, gross margin, or segment financial results were reported in the release's financial statements.
Product execution advanced with the first full-scale Prime system commissioned at Newark in May 2026 and operating outdoors since commissioning. AIRJ said performance is progressing toward the published specification of up to 2,000 liters per day at less than 200 watt-hours per liter when paired with low-grade waste heat. The company is building additional Prime systems while it deploys the first system in Europe, and it is pursuing Core DH deployments to strategic customers beginning in the third quarter of 2026.
Liquidity increased during the first six months of 2026. Cash, cash equivalents and restricted cash were $ 41,417,134 at June 30, 2026, versus $ 21,848,455 at December 31, 2025, and combined cash across AIRJ and the joint venture was $43.0 million with no debt. Cash flows included $ 36,453,501 of proceeds from the issuance of common stock and $ (12,500,000 ) invested in AirJoule, LLC. AIRJ funded $2.5 million of joint-venture capital contributions during the quarter and updated its 2026 combined cash-spend framework to approximately $27 million to $28 million from approximately $25 million communicated previously, citing greater commercialization activity.
Management, verbatim
We are continuing to execute on our plan to commercialize the AirJoule technology.
Matt Jore, Founder and Chief Executive Officer of AirJoule Technologies
The technology is validated, and we are working closely with our partners to bring the AirJoule products to our customers.
Matt Jore, Founder and Chief Executive Officer of AirJoule Technologies
Not in the filing
stated, not guessed- Total revenue
- Revenue prior-year comparison, prior-quarter comparison, year-over-year change, and quarter-over-quarter change
- Segment revenue and segment comparisons
- Gross profit and gross margin
- Total operating expenses
- Non-GAAP operating income, net income, EPS, and reconciliations
- Quarterly operating cash flow
- Free cash flow
- Share repurchases, dividends, and other capital-return disclosures
- Prior-quarter values and quarter-over-quarter changes for reported quarterly income-statement metrics
- Revenue, gross-margin, operating-expense, and tax-rate guidance
- Previous-quarter outlook for guidance comparison
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is an SEC 8-K (Item 2.02) with an exhibit announcing Q2 2026 results and business updates for AirJoule Technologies.
Ticker impact
AirJoule reports Q2 2026 results and discloses a new exclusive sales agreement with Kubota plus updated 2026 cash-spend guidance.
Moderately positive bias, with follow-through likely if investors view the Kubota deployments and Prime/Europe timeline as credible and funded.
The filing is a primary disclosure (8-K with exhibit) and includes concrete partnership and deployment timing, but it is not an earnings beat with quantified revenue/profit figures in the provided excerpt.
Market effects
Supports the narrative of water-from-air and waste-heat-to-water commercialization progress, potentially improving sentiment toward early-stage clean-tech hardware developers.
UAE and US (Texas/California) deployment plans may attract regional sustainability and water-security stakeholders, but impact is likely limited beyond AIRJ.
Europe demonstration shipment timing (Q3 2026) adds a cross-region validation datapoint for similar thermal and water-treatment technologies.
Counterpoint
The update emphasizes partnerships and system commissioning, but without disclosed revenue scale in the excerpt, the market may still discount near-term financial impact and focus on execution and unit economics risk.
Key entities
- companyAirJoule Technologies Corporation
NASDAQ-listed platform technology company reporting Q2 2026 results and commercialization updates.
- companyKubota Corporation
Partner named as exclusive sales channel for AirJoule systems into multi-unit residential developments in Texas and California.
- companyGE Vernova
Opened a research center campus in July 2026 with an AirJoule Core system installed as a demonstration unit.
- organizationNet Zero Innovation Hub for Data Centers
Program whose technology acceleration work AirJoule completed in June 2026 to align its platform with data center requirements.
- programExpo City Dubai Green Licence
UAE green licensing recognition awarded to AirJoule in July 2026, enabling participation in the Green Innovation District cohort.
