$AIRJ

AirJoule Technologies Corp.

CIK:0001855474|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cost and expenses:
General and administrative	$ 3,817,932	$ 3,751,211	$ 7,162,278	$ 6,537,695
Research and development	172,807	401,623	388,278	789,542
Sales and marketing	118,047	7,794	163,950	22,003
Depreciation and amortization	4,405	2,289	8,307	3,877
Loss from operations	(4,113,191)	(4,162,917)	(7,722,813)	(7,353,117)
Other income (expense):
Interest income	292,929	283,733	577,594	526,758
Equity loss from investment in AirJoule, LLC	(2,510,952)	(2,089,667)	(65,658,820)	(4,319,945)
Change in fair value of Earnout Shares liability	(2,393,000)	6,276,000	(965,000)	19,108,000
Change in fair value of True Up Shares liability	0	0	0	106,106
Change in fair value of Subject Vesting Shares liability	(2,730,000)	934,000	(2,289,000)	6,408,000
Change in fair value of Equity Line Obligation liability	0	0	35,598	0
Other expense, net	0	(286,818)	(1,577)	(285,470)
Total other income (expense), net	(7,341,023)	5,117,248	(68,301,205)	21,543,449
Income (loss) before income taxes	(11,454,214)	954,331	(76,024,018)	14,190,332
Income tax benefit	2,920,649	1,558,882	17,664,912	3,201,539
Net income (loss)	$ (8,533,565)	$ 2,513,213	$ (58,359,106)	$ 17,391,871
Class A Common Stock
Other income (expense):
Weighted average common stock outstanding, basic (in Shares)	69,735,011	59,247,717	68,484,583	57,656,530
Basic net income (loss) per share, Class A common stock (in Dollars per share)	$ (0.12)	$ 0.04	$ (0.85)	$ 0.3
Weighted average Class A common stock outstanding, diluted	69,735,011	60,179,241	68,484,583	58,727,169
Diluted net income (loss), per share, Class A common stock (in Dollars per share)	$ (0.12)	$ 0.04	$ (0.85)	$ 0.3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income (loss)	$ (58,359,106)	$ 17,391,871
Adjustment to reconcile net income (loss) to cash (used in) provided by operating activities:
Depreciation and amortization	8,307	3,877
Deferred tax benefit	(17,664,912)	(3,201,539)
Amortization of operating lease right-of-use assets	16,517	15,766
Change in fair value of Earnout Shares liability	965,000	(19,108,000)
Change in fair value of True Up Shares liability	0	(106,106)
Change in fair value of Subject Vesting Shares liability	2,289,000	(6,408,000)
Change in fair value of Equity Line Obligation liability	(35,598)	286,819
Loss on disposition of property and equipment	1,577	0
Equity loss from investment in AirJoule, LLC	65,658,820	4,319,945
Stock-based compensation	2,850,550	2,419,596
Changes in operating assets and liabilities:
Due from related party	934,723	2,496,577
Prepaid expenses and other assets	(233,078)	(355,138)
Operating lease liabilities	(16,889)	(14,230)
Accounts payable	108,564	217,385
Accrued expenses and other liabilities	(283,427)	(122,308)
Net cash used in operating activities	(3,759,952)	(2,163,485)
Cash flows from investing activities
Purchases of property and equipment	(19,506)	(11,376)
Investment in AirJoule, LLC	(12,500,000)	(10,000,000)
Net cash used in investing activities	(12,519,506)	(10,011,376)
Cash flows from financing activities
Proceeds from the exercise of options and purchases pursuant to employee stock purchase plan	62,365	99,718
Proceeds from the PIPE offering, net	0	14,556,106
Proceeds from the issuance of common stock	36,453,501
Deferred offering costs paid	(546,674)	0
Taxes paid related to net share settlement of equity awards	(121,055)	0
Net cash provided by financing activities	35,848,137	14,655,824
Net increase in cash, cash equivalents and restricted cash	19,568,679	2,480,963
Cash, cash equivalents and restricted cash, beginning of period	21,848,455	28,021,748
Cash, cash equivalents and restricted cash, end of the period	41,417,134	30,502,711
Supplemental non-cash investing and financing activities:
Issuance of True Up Shares	0	2,082,894
Deferred offering costs included in accrued expenses and other current liabilities	137,524	312,375
Supplemental cash flow information:
Taxes paid	$ 0	$ 0

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash, cash equivalents and restricted cash	$ 41,417,134	$ 21,848,455
Prepaid expenses and other current assets	983,726	750,648
Total current assets	43,175,366	23,811,617
Operating lease right-of-use asset	98,584	115,102
Property and equipment, net	34,166	24,544
Investment in AirJoule, LLC	263,498,454	316,657,273
Other assets	33,696	33,696
Total assets	306,840,266	340,642,232
Current liabilities
Accounts payable	316,624	163,107
Other accrued expenses	1,838,594	2,066,218
Operating lease liability, current	36,046	34,437
Total current liabilities	2,191,264	2,263,762
Earnout Shares liability	7,161,000	6,196,000
Subject Vesting Shares liability	3,469,000	1,180,000
Operating lease liability, non-current	71,067	89,564
Deferred tax liability	45,310,133	62,975,045
Total liabilities	58,202,464	72,704,371
Commitments and contingencies (Note 9)
Stockholders' equity
Preferred stock, $0.0001 par value; 25,000,000 authorized shares and 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Additional paid-in capital	117,502,404	78,444,477
Retained earnings	131,128,157	189,487,263
Total stockholders' equity	248,637,802	267,937,861
Total liabilities and stockholders’ equity	306,840,266	340,642,232
Related Party
Current assets
Due from related party	774,506	1,212,514
Class A Common Stock
Stockholders' equity
Common stock value	$ 7,241	$ 6,121