Aug 13, 2026 earnings call — IPR resolution and water business expansion
Company closed remaining patent challenges and reported second quarter revenue of approximately $3.8 million.
Revenue $0.0B (est $0.0B) · EPS $-0.11 (est $-0.07)
Key quotes
"In June, we announced the end of all remaining attempts to challenge our patents under inter partes review."
"Through our collaboration with national engineering firm Civil & Environmental Consultants, RSSCT testing performed at our Analytical Design Center in Grand Forks, North Dakota is available now to the hundreds of water utility clients they serve across the country."
"Put simply, the air segment functions as a self-funding growth engine, producing both the capital and market credibility that enable us to invest aggressively in water while continuing to deliver value to shareholders."
Analyst Q&A 1
air settlements and timing, water deals
Q (Robert Brown · Lake Street): He asked how many air cases remain, when settled supply will convert to revenue and a baseline, the appeal timing, and the status of water offtake talks and how macro changes affect customers.
A: They have settled all but one remaining case and are in discussions with that party; settlements are in place and they are waiting for supply contracts to come up for renewal so they can quote. They expect an increase starting in the second half of this year and expect a significant increase in product supply revenue on the air side for 2026 over 2025 but do not have a hard number. They are confident on the appeal and are hoping for a decision this year; on water they are negotiating with several significant parties, expect hard news most likely in the third quarter, hope those deals turn into business by the end of the year, and expect material news on a rejuvenation facility by the end of September.
"I do expect that we'll see a significant increase in the actual product supply revenue on the air side for 2026 over 2025, and I just don't have a hard number on what that is at this time." — Richard MacPherson (CEO)