AquaBounty Technologies 11/5/2024 Earnings Report

AquaBounty Technologies EPS Results

• Actual EPS: -$0.88
• Consensus EPS: -$0.88
• Beat/Miss: Met Expectations
• One Year Ago EPS: -$1.60

AquaBounty Technologies Revenue Results

• Actual Revenue: $0.05 million
• Expected Revenue: $0.10 million
• Beat/Miss: Missed by -$50.00 thousand
• YoY Revenue Growth: N/A

AquaBounty Technologies Announcement Details

• Date: 11/5/2024
• Time: After Market Closes
• Conference Call Date: N/A
• Conference Call Time: N/A

AquaBounty Technologies (NASDAQ:AQB) is a biotechnology company focused on aquaculture innovation through the development and commercialization of genetically engineered fish. Its flagship product, AquAdvantage Salmon, is an Atlantic salmon strain enhanced with a growth hormone gene that enables faster growth and more efficient feed conversion compared with conventional farmed salmon. By integrating biotechnology into seafood production, AquaBounty aims to address global protein demand while reducing the environmental footprint associated with marine aquaculture.

Founded in 1991, AquaBounty is headquartered in Maynard, Massachusetts, and operates a state-of-the-art, land-based incubation and grow-out facility in Panama. The company’s research and development activities are conducted under strict regulatory oversight, including approval by the U.S. Food and Drug Administration and Health Canada. These approvals paved the way for the first commercial harvests of AquAdvantage Salmon, positioning the company at the forefront of sustainable aquaculture solutions.

In addition to its Panama facility, AquaBounty engages with stakeholders throughout North America to support supply chain integration and product distribution. The company collaborates with seafood processors, distributors, and retailers to bring its fast-growing salmon to market, emphasizing traceability and quality control in every step. AquaBounty’s approach seeks to balance consumer demand for protein with wider environmental and resource-use considerations.

AquaBounty is led by Dr. Ron Stotish, President and Chief Executive Officer, who has guided the company’s strategic direction and regulatory efforts since joining the executive team. Supported by a board and management team with expertise in biotechnology, aquaculture, and food safety, the company continues to explore additional applications of genetic enhancement in aquaculture species while maintaining a focus on sustainability and regulatory compliance.