AquaBounty suffers massive financial loss in 2024

In March 2025, AquaBounty Technologies announced its financial results for the full year ending December 31, 2024. The company experienced significant challenges, reporting a product revenue totaling only $789 thousand, a staggering decline of 68% from $2.5 million in the previous year. This drop in revenue was largely driven by the sale of its Indiana grow-out farm in July and subsequent winding down of fish rearing operations at Canadian Farms by December. The overall net loss ballooned to $149.2 million, dramatically higher than the $27.6 million loss recorded in 2023, which included substantial asset impairment charges totaling $129.8 million across various projects and assets. As of December 31, 2024, AquaBounty's cash reserves had dwindled to $230 thousand, down from $9.2 million a year prior, raising concerns about its financial viability and ability to continue operations. In March 2025, AquaBounty completed the sale of its Canadian Farms and corporate intellectual property for net proceeds of $1.9 million, seeking liquidity to support its ongoing operations amid financial struggles. The company indicated that it would continue efforts to evaluate strategic options for its Ohio Farm Project and pursue the sale of remaining assets to bolster cash flow and navigate future challenges. The company remains committed to enhancing productivity and sustainability within the aquaculture sector despite its current financial woes and operational restructuring. Moreover, AquaBounty explicitly acknowledged significant risks that could impact its ability to operate successfully in the future, including challenges in generating cash, securing additional funding, and potential losses from strategic decisions.