AIRJ

Interested in SPDR S&P 500 ETF Trust? Here are five stocks we like better. Q3 earnings season, starting in October, is expected to again beat a lowball consensus of 28.5% growth after Q1 and Q2 results far exceeded estimates. Energy and technology sectors, fueled by high oil prices and AI-related spending from companies like NVIDIA and AMD, are driving much of the earnings outperformance. Analysts may be underestimating 2027 earnings growth, with the S&P 500 potentially advancing to 8,500 or higher, though falling oil prices pose a key risk. Q3 earnings reporting, which kicks off in October, looks set to be another solid season for the market. While factors including geopolitics, oil, inflation, and the FOMC point to volatility, earnings trends and seasonal trends suggest a robust rally will follow. Seasonally, Q4 is typically the strongest of the year, often starting off slow and then ending with a bang, usually capped off by a Santa Claus Rally. This year, the stage is set for significant outperformance and an affirmation of next year’s results that may lead to a substantial market reset. → 3 Under-the-Radar Defense Stocks With Record Backlogs The S&P 500 historically outperforms its consensus estimates, but outperformance tends to run in the low-single-digit range. Today's narrative is that Q1 and Q2 results were so far above consensus that they revealed a major market disconnect. Q1 results outperformed consensus by 1,750 bps versus the low set just ahead of peak season, topping out at just over 28.5% average earnings per share (EPS) growth, while Q2 results reflected acceleration, outperforming by 2,750 bps from the low to the high and peaking above 47%. With this in play, the Q3 consensus of 28.5% growth is a lowball estimate, likely to be surpassed and compounded by healthy guidance. → Ride-Share Reckoning: Tesla Drives Into Uber's Lane Oil has been a primary driver of outperformance. High oil prices are juicing energy company profits at all levels, with high prices aiding upstream operations and wide crack spreads and demand aiding downstream ops. The critical takeaway is that the energy sector, which grew EPS by 146% in Q2 and outperformed by 2,400 bps, is expected to remain strong in Q3 and potentially into Q4 and Q1 2027, underpinning market strength. The forecast for energy sector earnings growth is just over 100% for Q3. As robust as the energy outlook is, AI is what's driving the S&P 500 today. The information technology sector's earnings were the second-fastest-growing in Q2. NVIDIA (NASDAQ: NVDA) underpinned the gains, along with a broad group of infrastructure companies and a widening group of software companies successfully monetizing the technology. The Q3 forecast is for another 62% growth; the revision trend is positive, and outperformance is likely to be substantial. → High Gas Prices Aren't Budging—Here Are 3 Stocks That Benefit While NVIDIA is the primary driver, Advanced Micro Devices (NASDAQ: AMD) is unleashing another wave of GPU capacity. The MI450/Helios launch is expected to show strongly in Q3 results, including for AMD's ecosystem partners. Early signs, including from Hewlett Packard International (NYSE: HPE) (the primary source for Helios racks), show strength and momentum, with 42% new-order growth, backlog at record levels, and a pipeline suggesting exponential strength in upcoming quarters. Software could come back into the spotlight in a good way. Q2 results from names such as Salesforce (NASDAQ: CRM), Snowflake (NASDAQ: SNOW), and a host of cybersecurity companies showed how misplaced the SaaS-pocalypse fears were. Salesforce, for one, reported explosive growth in its AI offerings, with clients flocking to its platform rather than abandoning it. Key details include its data moat, data-handling capacity, and agentic automation. Profits, cash flow, and capital return also help. Seasonal factors suggest the market will continue moving sideways, potentially correcting ahead of the upcoming earnings season. JPMorgan (NYSE: JPM) kicks off the peak season with a mid-October report, but momentum may not build until early November, after big tech begins reporting and Election Day results are in. As it stands, community-based pushback against AI data centers is growing and delaying the buildout. Elections may come down to which candidates support data centers, although the build is likely to continue regardless of the outcome. The major hurdles are land, power, and water, with power and water more easily overcome. Companies such as Bloom Energy (NYSE: BE) and AirJoule (NASDAQ: AIRJ) provide hurdle-sidestepping technologies, and Bloom Energy, at least, is in high demand. AirJoule is waiting on UL product certification, which is anticipated soon. Another trigger for stock price action will be long-term forecasts and hints as to what 2027 will produce. Forecasts suggest another solid year but may be underestimating growth by a wide margin. Assuming the trends from the first half of the year remain in place, Q3 and Q4 will be strong, setting the stage for a solid first half of 2027, which analysts are not forecasting. Consensus as of early September suggests a good start, with Q1 2027 earnings expected to grow by nearly 18%, but a quick slowdown to nearly flat in Q2. In this scenario, the market is on track for at least four more quarters of S&P 500 earnings growth, outperformance, and upward revisions to drive stock price action. With this in play, the index is likely to trend higher and could easily advance to 8,500 or higher by early 2027. The biggest risk is the impact of oil prices on the earnings outlook—WTI is expected to revert to the $60 range sometime in 2027, which would cause a sharp slowdown in average growth. The article "Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For" was originally published by MarketBeat. View MarketBeat's top stocks for September 2026.

Image source: The Motley Fool. Friday, Aug. 14, 2026 at 8:30 a.m. ET Vice President of Investor Relations and Finance - Tom Divine Founder and Chief Executive Officer - Matt Jore Executive Chairman - Pat Eilers Chief Commercialization Officer - Bryan Barton Chief Financial Officer - Stephen Pang Need a quote from a Motley Fool analyst? Email [email protected] Operator: Greetings, and welcome to the AirJoule Technologies' Second Quarter 2026 Earnings Call. [Operator Instructions] Please note that this conference is being recorded. It's now my pleasure to turn the call over to your host, Tom Divine, Vice President of Investor Relations and Finance. Thank you. You may begin. Tom Divine: Thank you, and good morning. With me today for our second quarter 2026 earnings call are Matt Jore, Founder and Chief Executive Officer; Pat Eilers, Executive Chairman; Bryan Barton, Chief Commercialization Officer; and Stephen Pang, Chief Financial Officer. During this call, we will be referring to a presentation, which is available on the webcast platform and on the Investors section of our website. I would like to point out that many of the comments made during the prepared remarks and during the Q&A section are forward-looking statements that involve risks and uncertainties that could affect our actual results and plans. Many of these risks are beyond our control and are discussed in more detail in the Risk Factors and the forward-looking statements sections of our filings with the SEC. Although we believe the expectations expressed are based on reasonable assumptions, they are not guarantees of future performance and actual results or developments may differ materially. And now I will turn it over to Matt Jore. Matthew Jore: Thanks, Tom. Good morning, everyone, and thanks for joining us today for our second quarter 2026 earnings call. We've had some exciting developments over the last few months, and we're pleased to be discussing those today. On our last call in May, we talked about the growing public opposition to data center development. This was driven in large part by the power and water demands these facilities place on their communities. While it started as local opposition in mostly rural areas where data center development was occurring, public perception has shifted, and that opposition has gone mainstream even cultural icons like Willie Nelson and Erin Brockovich are weighing in, issuing statements and launching campaigns to oppose data center development in the United States. The political winds are shifting as well. New York recently enacted a moratorium on data center permits for facilities over 50 megawatts, making it the first state to explicitly pause data center development. When signing the executive order, Governor, Kathy Hochul, specifically said that existing regulatory frameworks are "Not yet prepared to address the large-scale water use and treatment from data centers, which could strain aquifers, surface waters and public infrastructure." in Texas, which has been welcoming data centers and thus has seen massive development in recent years Governor Greg Abbott announced a pause on grid connected data centers until a full and complete audit of all proposed development can be completed. He urge regulators to determine how much water proposed data centers will use and what their water supply is as well as information about their cooling technology. These policy actions are unfolding against the backdrop of growing water scarcity across the U.S. A few weeks ago, the Washington Post profiled Kearny, Arizona, a town of 2,000 people whose annual water allocation was cut by 75% after the reservoir that supplies that town fell to 1% of capacity. The town has prohibited lawn watering, car washing and even little league. The article concluded that other towns across the West could face the same fate. Communities are already running short on water and the demands of new development are colliding with a shrinking water supply. These are the problems that AirJoule helps solve. Our systems produce pure distilled water on site from the humidity in the air, powered by low-grade waste heat without drawing on municipal supply or local aquifers for data center operators, AirJoule offers a path to water access that does not put them in competition with the communities around them. It also helps solve a permitting problem. Water use is increasingly the factor that delays approval of new data centers because communities worry about long-term water usage. By using AirJoule systems, data center operators can show local officials and residents that it has a long-term solution to securing water. And over time, excess water produced by AirJoule can flow back into the community. Which eases local water stress rather than adding to it. For water-stressed regions, AirJoule provides a distributed source of clean water that does not depend on a distant reservoir. The same advantage applies well beyond data centers. In many water-scarce markets, water availability is constraining residential development. To that end, we recently announced an exclusive partnership with Kubota Corporation, to deploy AirJoule systems for residential development in water-scarce regions of Texas and California. Bryan is going to talk about that in greater detail. But it's a huge milestone for us on the path to commercialization. By partnering with Kubota, who has a 136-year legacy of environmental and water engineering expertise will be able to deploy AirJoule systems at scale and unlock residential development across the Southern U.S. Partnerships like the one we just announced with Kubota have been critical to our success. So far, GE Vernova, our joint venture partner, delivered a powerful validation of our technology this summer. In July, GE Vernova held a grand opening for its new Advanced Research Center Frontier campus in Niskayuna New York. They specifically highlighted AirJoule as one of the innovative technologies that GE Vernova is helping to develop. And they have an AirJoule Core system operating there as a showcase unit for customers and partners who visit that facility. You can see it also on their website and their recent posts on LinkedIn. This reflects the strength of our joint venture with GE Vernova, and we are grateful for their continued support through engineering and R&D initiatives. We've also got some very exciting technology in the hopper at AIRJ that we'll be sharing in upcoming communications. Before Bryan provides an update on our customer engagements and productization, I'll turn it over to Pat for an update on our international growth initiatives in the UAE. Pat? Patrick C. Eilers: Yes. Thanks, Matt. Good morning, everybody. Since the end of the quarter, we've achieved 2 important milestones related to our ongoing commercialization efforts in the UAE. First, we shipped an AirJoule Core system to the UAE for a series of deployments to demonstrate the technology and validate performance for customers across the country. The first showcase of this Core unit will take place in Dubai at one of Expo City Dubai's landmark destinations. We intend to leverage Expo City's sandbox test environment for the sustainable urban deployment, including technologies addressing challenges like water security. This deployment puts AirJoule in front of the visitors and industry leaders who visit the iconic location. Following the deployment at Expo City the AirJoule system will be used for on-site customer demonstrations and exhibitions across various Emirates of the UAE. Second, AirJoule was awarded one of UAE's first Expo City green licenses. The green license is the first of its kind in the UAE and it is the key enabler of the Green Innovation District, the country's first location dedicated to sustainable innovation. It emits only companies that can demonstrate a commitment to sustainability, and we were in the first cohort. It provides us with access to business missions throughout the Ministry of Economy and Tourism and a seat in the Green Modulus Leadership Forum. In a region where government engagement is paramount, this is a meaningful milestone for us. Our progress in the UAE is taking place as the region is increasingly focused on water security. The Gulf supplies roughly 40% of the world's desalinated water and more than 90% of that comes from about 56 plants. Several countries in the region draw 70% to 99% of their drinking water from the concentrated base. That was always an efficiency story. Events in the region over the past several months have made it a resilient story as well. AirJoule produces pure distilled water on-site across a range of climate conditions without drawing on municipal supplies, local aquifers or a connection to centralized infrastructure. That is what we are demonstrating with this latest AirJoule Core deployment. With that, I'll hand it over to Bryan for the commercial update. Bryan Barton: Thanks, Pat. Thanks, Matt. I want to walk through 3 areas this morning. Our commercial progress headlined by our recently announced partnership with Kubota, an update on our 2 product platforms, Prime and Core and our productization efforts. Let's start with commercialization. In July, we signed an exclusive sales agreement with Kubota Corporation, covering residential developments in Texas and California. Kubota will serve as the exclusive sales channel for AirJoule systems in that segment. As a part of the collaboration, we're also deploying 2 AirJoule Core systems with Kubota, one, near Corpus Christi, Texas, and the other in Irvine, California. These will start later this quarter. Kubota, which was founded in 1890, operates in more than 150 countries and brings wastewater treatment, water reclamation, PIPE systems and operations and maintenance capabilities to our partnership. They also have tremendous experience in supporting residential development in water constrained regions. The opportunity here is clear. In California and Texas, as well as other water constrained areas, water is now a primary gating item for residential development. Under California law, a residential development of more than 500 units cannot obtain approval without written verification that the water supply is sufficient over a 20-year horizon. That requirement is getting more and more difficult to meet. The state's owned water supply strategy projects that California could lose up to 10% of its water supply by 2040 due to hotter and drier weather conditions. When a developer cannot verify sufficient water supply, the projects stall. In Texas, the population is expected to grow by 53% by 2080. However, the state's recently adopted water plan projects that water supplies will be declining by 10% in the same time frame. Water supply is decreasing while the population is booming. This is the market we are addressing with Kubota. AirJoule unlocks residential projects by generating pure water on-site independent of municipal allocations and groundwater rights. Importantly, water produced by AirJoule is pure and distilled meeting not only FDA bottled water standards, but also meeting California's drinking water standards, which are the most stringent in the nation. Designing our system for the most demanding standard in the U.S. positions us well for the rest of our addressable markets. When it comes to performance, our systems produce water across a wide range of temperature and humidity conditions. This is what enables a single AirJoule product to serve both the U.S. Gulf Coast and Southern California. Also on the topic of customer engagement, our work with the Net Zero Innovation Hub for data centers will soon move from preparation to deployment. After being selected from more than 70 applicants in the fall of 2025, we successfully completed the Hub's technology acceleration program back in June. And throughout this program, we worked closely with the hub's members, including Google, Microsoft, Danfoss, Schneider Electric and Vertiv. We work with them to align AirJoule's waste heat-to-water capabilities with the real-world operation of data centers. We'll soon be shipping our first Prime unit to Europe for a deployment to show how AirJoule can convert low-grade data center waste heat into pure distilled water. Now let's talk about our products. I'll start with Prime. We commissioned our first full-scale Prime system at our Newark, Delaware facility back in May and has been operating ever since. After the initial start-up, we focused our engineering work on optimizing the run conditions for specific operating cycles. The learnings we gained from our field deployments of the Core systems have transferred directly to Prime. This includes the timing of fans, the sequencing of our vacuum pumps and the thermal management of our sorbent chambers. Our decision last year to concentrate our build and development activity on the Core platform is paying off now by compressing the Prime optimization time line. We are very pleased with the initial performance of the system. And we're tracking toward our expectation of 2,000 liters per day for this system. In late June, we held an unveiling ceremony of the Prime system, and we hosted both Delaware Governor Matt Meyer and U.S. Senator, Chris Coons as well as several local elected officials and representatives from economic development organizations. It was great to show off the Prime system, and we're grateful for their continued support. As I mentioned earlier, this first Prime system will be deployed in Europe, and we will be building additional systems over the coming months. This will this will allow us to continue optimizing the system at Newark as well as provide showcase systems for customer demonstrations. Turning to the Core system as a reminder, we've been using the Core system to demonstrate the technology for customers, but there is significant market demand for the Core product as a dehumidifier that also generates pure water, and we refer to this product as Core DH. Our head-to-head testing of Core DH against the incumbent desiccant wheel standard continues to demonstrate significant energy savings across our target humidity range. With this product, we're targeting the estimated 1.2 million unit installed base of conventional desiccant wheel systems and more specifically, applications where facilities operate between 30% and 50% relative humidity. We've already begun to deploy these systems, these dehumidifier systems with strategic customers for demonstrations and technology validation. The third area I want to cover is productization. In 2025 and 2026, we deployed several AirJoule systems for pilot projects and customer demonstrations, and these units have been critical in improving the technology in the field. We're continuing that work with a limited number of strategic customers this year. And in parallel, we're advancing the engineering that turns AirJoule into a commercial product designed for manufacturing, cost reduction, reliability testing and product certification. Running these efforts together rather than in sequence is deliberate. It lets commercial deployment and product development proceed at the same time and accelerates market adoption. Reliability has been a huge factor for us this year, huge focus for us this year. Since it's one of the most important factors that customers look for when evaluating a new product. We've built a component reliability program that evaluates every major component in the AirJoule system, and we operate dedicated test rigs through accelerated duty cycles, allowing us to identify problems and mitigate them early. In parallel with reliability and component testing, we're completing design for manufacturing work to prepare both platforms for scaled production. We're continuing to reduce and simplify the bill of materials, and we're working through a clear sequence to get us ready for contract manufacturing. Putting it all together, we're executing the commercialization plan that we've laid out for several quarters and I look forward to providing more updates on our next call. Now I'll pass it over to Stephen for the financial updates. Sze-Yin Pang: Thank you, Bryan. I'll walk through our financial results for the second quarter of 2026 and then provide an update on our 2026 outlook and liquidity position. For the second quarter, AirJoule Technologies reported net operating expenses of $4.1 million. This is inclusive of $0.8 million in administrative and engineering expenses reimbursed to us by the joint venture under a statement of work. Our net loss for the quarter was $8.5 million, the primary components below the operating line was $5.1 million of noncash losses due to the increase in the fair value of our earn-out shares liability and subject vesting shares liability. Now turning to the joint venture. Total JV operating expenses for the second quarter were approximately $5 million. The joint venture received $2.5 million in additional capital contributions from AirJoule Technologies during the quarter to support ongoing productization, manufacturing and commercial deployment activities. AirJoule Technologies ended the second quarter with $41.4 million of cash on the balance sheet. This includes $14.2 million of net proceeds from a registered direct offering we completed in early June. Combined cash across AirJoule Technologies and the JV was $43 million with no debt. Our guidance for the full year 2026 cash spend at AirJoule Technologies and the JV is now slightly higher at approximately $27 million to $28 million. This reflects increased commercialization activities as we pursue multiple projects and deployments across different market applications. Our liquidity is sufficient to fund our operations, the JV and our planned commercial deployments into 2028. Looking ahead, we still expect modest paid deployment revenue at the JV during 2026, with more meaningful commercial revenue beginning in 2027 as our Core and Prime deployments come online. We continue to maintain strong flexibility in managing our capital position and balance sheet, and we'll remain opportunistic and disciplined in evaluating anyfinancing and strategic opportunities that enhance our balance sheet and support long-term value creation. With that, I'll pass it back for the Q&A portion of the call. Operator: [Operator Instructions] Our first question comes from the line of Jeffrey Campbell with Seaport Research Partners. Jeffrey Campbell: Congratulations on all the progress that you're making. You said that AirJoule is deploying the Core DH to strategic customers beginning in the third quarter of [indiscernible]. Just provides some colors maybe [indiscernible] areas that you're targeting or maybe just some specific types of businesses. Bryan Barton: I'm sorry, Jeff, you were breaking up a little bit. We got that this is about the Core DH deployments. Can you repeat? Jeffrey Campbell: As the Core DH, I was wondering if you could give us a little color on maybe where these initial strategic applications are being located geographically and maybe specific types of businesses that you're targeting if that's relevant? Bryan Barton: Yes. Thank you for the question. And as we said, we are deploying Core DH systems to strategic customers for industrial dehumidification. And really this segment where spaces need to be kept dry. And I would maybe just elaborate that this is a strategic deployments. These are seeking to validate the performance and the efficacy of the Core operating system, and we're focusing on both deployments that can enhance our commercial product adoption with strategic customers in that sense as well as some industrial focused customers that see the value of both the dehumidification and the water that's generated. Jeffrey Campbell: Okay. And Bryan, you discussed preparations for contract manufacturing, specifically highlighting cost reduction and simplifying materials. I wondered if you could add any color with regard to, a, are both models in the optimization is the effort on time? And when do you expect to be ready to present enhancing designs to manufacturing partners? Bryan Barton: Yes. I think both DFM activities and kind of cost simplification activities are on track for Prime and Core. The Prime engineering is effectively going through, right, those cost component changes and some simplifications for manufacturing. And it's on time for this 2027 contract manufacturing conversations, and we're preparing on schedule for that. For the Core product, it's a little bit even though we've had Core for a while, getting that product to be really ready for Prime time. I'm very excited about the dehumidification market opportunity in front of us with this product. And we are pushing to -- we're on time. We're also pushing to accelerate that effort. In the past, and we've clearly communicated a 2027 products there for Core DH, and we're on track for that. Matthew Jore: Sorry, Matt here. Just wanted to add on the first topic. Keep in mind, Bryan mentioned the $1.2 million installed base for that dehumidification market. I'm pretty excited about that. That gives you a little bit of color on where we're heading with it. On contract manufacturing, it's important to recognize that the vast majority of the components that go into a Core or Prime system are built around the heart of the system, the coated contactor, the metal organic framework coated contactor. So there are name many manufacturers who already have ERP system, supply chain all set up for all the rest of the relatively commodity components. So it's not a heavy lift is my point. Jeffrey Campbell: Yes. Understood. If I can ask one last one. With regard to Kubota and the development work that's going on there? Can you just give us a little color on what the thought is? Like I am wondering are the installation is going to be more centralized maybe for a planned development? Or will each home have an AirJoule? And would one Core enough water supply for each home. Just anything you can tell us there so we can start to visualize it a little bit. Sze-Yin Pang: Yes, Jeff, thanks. I think we have a rendering that was, I believe, released. But the idea is a planned residential community. This is a multi-home community where there are several houses, and there would be a centralized water generation system and recycling system. So AirJoule brings the pure distilled portable water for the drinking water for the community. And then there's water recycling system as well for the community. So it's kind of that centralized community picture. Operator: Our next question comes from the line of Alex Fuhrman with Lucid Capital Markets. Alex Fuhrman: Congratulations on all of your recent announcements and progress towards commercialization. Matt, I wanted to ask about the path to 2,000 liters per day. It sounds like you're very happy with the progress that you're making and that you're confident you're going to be able to hit that target. Can you give us an update on where you've been performing lately and just what that arc has looked like over the past 6 months? And just give us a sense of what other kinds of tweaks and optimizations we're talking about that are getting you to that 2,000 liters per day? Matthew Jore: Alex, this is -- I know that the correct question was directed to me, but I'm going to let Bryan answer it before I do. I think it's important that you recognize long term, these communities are looking and regulators are looking at permitting where companies, data centers or residential developers can show 20 or 100 years in the case of Arizona water supply. So that's really what we're pointing to long term 2,000 liters a day is just the start. Long term, we want to do 10,000 and 20,000 liters, and that's what we're focusing on. But for now, I'll let Bryan answer the current state of Prime. Bryan Barton: Thanks, Matt. Thank you for the question, Alex. We commissioned this system in May. It's been operating outdoors ever since. And we've been really impressed with the speed upon which it's come online and operated. It's running 24/7 with high uptime. And there's a lot of water and data that's being generated through a lot of different environmental conditions. And I guess as a reminder, to everyone, right, the system operates depending on the humidity levels in the air. So when we talk about 2,000 liters per day, up to 2,000 liters per day, that's at the higher side of the humidity levels. And what makes AirJoule unique is the ability to not only run on waste but to generate humidity under a wide range of environmental conditions. And thankfully, we've been blessed with hot warm days that are humid as well as dry days. And so we've been getting really great data across the gamut. We are really, I'm very pleased with its performance coming online. And yes, we are on track to hitting the 2,000 liters per day. And we have a specific measures now identified to close the gap and to have the system really operating aspect. Alex Fuhrman: Okay. That's really helpful. And then if I could ask 1 on capital. It sounds like a very high-class problem that you're going to be burning a little bit more cash than expected at the JV, given the accelerated commercialization, how much capital do you envision committing to the JV this year and next? Sze-Yin Pang: Yes, Alex, this is Stephen here. We haven't provided 2027 guidance. But as we think about to slightly higher $27 million, $28 million guidance that we provided for this year. The incremental capital above the $25 million is geared towards the JV. The additional capital has really helped -- helps steer some incremental units that we have earmarked for additional customer interest that we're seeing. So from a G&A standpoint, certainly nothing higher at the corporate entity but all of this is earmarked towards enhanced deployments. I would think about next year as similar to kind of what we're thinking about right now. I think from a CapEx standpoint, certainly, we're evaluating the contract manufacturing partners to help eliminate some of the incremental CapEx we'll likely need if we were to scale up production on our own. But from a R&D and current G&A spend perspective, we expect next year right now to kind of trend similarly from what we're seeing. Operator: Our next question comes from the line of Ryan Pfingst with B. Riley Securities. Ryan Pfingst: Maybe starting with the collaboration with Kubota. I think residential is the main opportunity. But are you exploring broader commercialization efforts with those guys in other verticals? Bryan Barton: Yes. Thanks, Ryan, for the question. Today, our partnership and conversations with Kubota are focused on the residential multi-home communities. Ryan Pfingst: Appreciate that. And then maybe turning to Europe, with the Prime expected to shift near term for the Net Zero Innovation Hub for data centers I'm curious what you envision resulting from that program, whether it be technology partnerships, commercial deployment opportunities or anything else that you're looking for? Bryan Barton: Yes, thanks. I think this is a really great opportunity for us to highlight our product and how it's integrated for data center waste heat operation. And as shared on the call, the hub includes major key members in the sector, so Microsoft, Google, Data4, Danfoss and then Schneider and Vertiv to round it out. But highlighting the system and integration into data centers is really a key showcase for these guys. And I think the expected success is really the carry on from there into how AirJoule can specifically enable data center operations for those players. Matthew Jore: Yes. Ryan, I would add to Bryan's comment, this whole theme of permitting unlocking the opportunity if these data centers look at the air for their next source of water and demonstrate that. That's all it takes. They need to demonstrate a long-term solution to not deplete aquifers. And so that's what I view the Net Zero Innovation Hub is all about that, demonstrate the efficacy of the water from air system. The alternative is aquifers that are going to deplete. And so that's what it offers data centers. That's what I get excited about because it's a long-term initiative that they can point to now just entering into a contract with us. So thank you for your question. Operator: [Operator Instructions] Our next question comes from the line of Amit Dayal with H.C. Wainwright. Amit Dayal: Just trying to confirm if Carrier did invest in AirJoule and where that relationship stands in terms of commercialization efforts? Bryan Barton: Are you asking as it relates to the most recently completed offering or just more broadly speaking? Amit Dayal: Well, just in relation to the deal with Kubota. Bryan Barton: Yes, Amit, thanks. I think Carrier is very interested in a couple of things. One, obviously, the HVAC market sectors. HVAC being over $300 billion market and Carrier being a key leader in that sector. And also, they're a great strategic partner as it comes to data centers, Carrier providing some, let's call it a heat recovery system for -- to keep data centers, cold while also providing warm water, for example, for AirJoule to be used on location. So those are 2 really important strategic initiatives under Carrier, and they are engaged in both of those efforts. So thinking about the dehumidification and where that technology is going at large in terms of our longer-term product road map in the HVAC sector as well as, yes, the data center engagement. Amit Dayal: Okay. Understood. And then are there any regulatory incentives that could be growing at a state or federal level that could support the commercialized efforts for these types of offerings? Matthew Jore: That's a great -- sorry, Bryan. That's a great question, and we're definitely exploring those. We're -- in my remarks, I talked about the attention that's being paid on water we aim to do our best to inform Congress and all government regulatory bodies that water is a real issue. And Bryan hosted Senator Chris Coons, as he made in his remarks, as he referenced and that part of that is to make sure that everyone at the policymaking level understands how serious this issue is and what a fantastic solution AirJoule is. So we're active in terms of communication there. Amit Dayal: And then the 2 just last one for me here, guys. The 2 units that are deployed, I guess, in relation to be development. Is this just to continue sort of benchmarking performance, et cetera, or to start showcasing these offerings to developers? Any clarity on that would be helpful. Bryan Barton: Yes, Amit, it's really the latter, showcasing the technology development -- sorry, the technology opportunity to the developers and how we can actually unlock residential communities. So 2 of the areas that are of key focus, right, are the Irvine, California and Corpus Christi, Texas, both locations that are facing difficulty expanding development in general, but specifically on residential communities. So Kubota selected these 2 locations really as a focus for them to highlight the technology to the developers. Operator: Ladies and gentlemen, that concludes our question-and-answer session. I'll turn the floor back to Mr. Jore for any final comments. Matthew Jore: Thanks, Melissa. Thanks, everyone, for joining us this morning. The second quarter moved air jewel from validating the technology to building defined commercial channels. Our exclusive sales agreement with Kubota gives us a channel into residential development in 2 states where water decides whether projects get built. Our first Prime system is operating at Newark and ships to Europe this quarter, we have a Core system operating at GE Vernova's Frontier campus and another in the UAE supporting customer demonstrations. Every deployment we execute over the balance of this year builds towards scaled commercial activity in 2027. Thank you very much. Operator: Thank you. This concludes today's conference call. You may disconnect your lines at this time. Thank you for your participation. Before you buy stock in AirJoule Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and AirJoule Technologies wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $432,621!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,335,314!* That performance is why people listen. With a track record of beating the S&P 500 by nearly 5x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 20, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. AirJoule (AIRJ) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

This article first appeared on GuruFocus. Net Operating Expenses: $3.6 million for Q1 2026, including $0.8 million in administrative and engineering expenses reimbursed by the JV. Net Loss: Driven primarily by a $63.1 million loss from investment in AR2JV, partially offset by a $14.7 million tax benefit. Non-Cash Impairment Charge: Approximately $55 million recorded on the AirJoule JV equity method investment line, with no impact on cash or operational performance. JV Operating Expenses: Approximately $5.5 million for Q1 2026. JV Capital Contributions: Received $10 million from AirJoule Technologies during the quarter. Cash Position: AirJoule Technologies ended Q1 with $31.1 million; combined cash with the JV was $35 million, with no debt. Liquidity Guidance: Full-year 2026 cash spend guidance unchanged; liquidity sufficient to fund operations through 2027. Revenue Outlook: Expects modest deployment revenue at the JV in 2026, with more meaningful commercial revenue beginning in 2027. Warning! GuruFocus has detected 3 Warning Sign with AIRJ. Is AIRJ fairly valued? Test your thesis with our free DCF calculator. Release Date: August 14, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. AirJoule Technologies Corp (NASDAQ:AIRJ) completed the build of its first full-scale AirJoule Prime system, which is now operational at its Newark, Delaware facility, marking a significant milestone in its productization strategy. The company's AirJoule Core platform design is now locked, with two product variants (AWG and DH) targeting distinct markets, including the US military and the dehumidification sector, with commercial launches planned for late 2026 and 2027. Initial performance data for the Core DH variant shows up to approximately 40% energy savings versus incumbent desiccant wheel technology, driven by its metal organic framework sorbent that regenerates at much lower temperatures. The company is seeing strong customer demand and deepening engagements across multiple markets, including hyperscale data centers, residential development, and the Middle East, with a clear path to building a commercial pipeline for 2027. AirJoule Technologies Corp (NASDAQ:AIRJ) maintains a strong balance sheet with a combined cash position of $35 million and no debt, which is sufficient to fund operations and planned commercial deployments through 2027. The company's products already meet FDA bottled water standards and are designed to be compliant with California's stringent water quality standards, positioning them well for regulatory approval across various markets. AirJoule Technologies Corp (NASDAQ:AIRJ) recorded a non-cash impairment charge of approximately $55 million related to its AirJoule JV equity method investment, driven by a decline in its share price, which negatively impacted its quarterly financial results. The company's net loss for the quarter was significantly impacted by a $63.1 million loss from its investment in the AR2JV, partially offset by a tax benefit, highlighting ongoing financial challenges. Commercial revenue is expected to be modest in 2026, with more meaningful revenue not anticipated until 2027, indicating a prolonged period before significant top-line growth materializes. The company faces uncertainty in the sales process, as customers may require pilot deployments or additional performance data before placing orders, which could delay the conversion of its pipeline into firm contracts. The first AirJoule Prime unit is planned for deployment in Europe, but the company has not yet disclosed the specific customer or site, and the system is still in the optimization phase, with performance improvements expected over the coming months. The company's go-to-market strategy is complex, as different end markets (e.g., data centers, residential, military) have varying regulatory frameworks and adoption timelines, which could slow the pace of scaling commercial activity. Q: What will it take for customers to potentially place orders for the new AirJoule units, and what does the sales process look like from here to field deployment? A: Bryan Barton, Chief Commercialization Officer, explained that the sales process varies by customer. Some customers require pilot deployments to validate performance, while others are satisfied with seeing the system operational and reviewing real-world performance data. Additionally, some customers facing urgent water scarcity are eager to move forward more quickly. The company is managing a range of conversations, recognizing that each customer has unique requirements for making a purchase decision. Q: Can you provide an update on customer interest in the water purchase agreement model, and is that something we could see materialize in late 2026 or is it more of a 2027 event? A: CEO Matt Jore highlighted that water purchase agreements are most compelling when tied to waste heat utilization, which significantly reduces regeneration costs and the levelized cost of water. He noted that the company is planning to secure commitments for water purchase agreements in parallel with equipment sales for the Prime platform this year, rather than waiting until 2027. This approach is particularly attractive for sites like data centers where waste heat can drive down water production costs. Q: Now that the Core design is essentially locked, what still needs to be done to finalize the Prime design, and will insights from Core's field performance inform Prime's final design? A: Bryan Barton clarified that substantially all engineering was completed through the Core platform, as both systems share the same sorbent chamber architecturethe Prime simply integrates 16 of these chambers. He stated that no substantial engineering modifications are expected for Prime. The company will now focus on "shaking down" and optimizing the Prime system independently, rather than relying on Core's field performance to inform Prime's design. Q: Can you provide some color on the roadmap to reduce unit costs now that the Core and Prime designs are stable? A: Bryan Barton explained that the primary cost-reduction activities will occur throughout the remainder of 2026, focusing on sourcing the most cost-effective, high-quality pumps, fans, and other system components. This work has begun for Core and is starting for Prime, with the goal of substantially completing the process before the Core AWG launch at year-end and fully completing it before the Prime and DH launches. He noted that validating the quality and performance of inbound components takes time. Q: Is the sorbent (MOF) you are currently using stable, or are you still evaluating other MOFs from research at the joint venture? A: Bryan Barton stated that the company is exploring alternative MOFs and non-MOF sorbents within its research pipeline to ensure it has the best technology possible. However, the current sorbent, which is scaled and available in large quantities at a cost-effective price, is performing very well and serves as the benchmark. Any alternative material would need to deliver substantial performance improvements to justify its adoption in a product variant. Q: What planning or work is being done towards a contract manufacturing shift in 2028, and are you still targeting that year for a ramp-up? A: Bryan Barton confirmed that initial conversations with contract manufacturing assembly houses have begun. Since the system is largely composed of off-the-shelf components, assembly houses are well-positioned to scale production using the company's assembly instructions. While details on maturity are not yet disclosed, the company is still planning for 2028 as the target for volume scale, driven by customer pull and the capability to meet that volume. Q: For the Core deployments expected in the fourth quarter, which customer is most likely to place the first order, or are multiple customers ready and waiting for certifications? A: Bryan Barton noted that initial Core deployments are largely positioning customers who are principally interested in the Prime system, though there are also Core-specific customers. The Core DH product will go to market through pilot programs, and the company is engaged with the U.S. military for Core AWG products. He indicated that more specific disclosures about engaged customers will be provided in due time. Q: Regarding the slide showing AirJoule CapEx at 1% to 3% of total facility build costs for a 100-megawatt data center, is that the standard siting density you're thinking about for data center conversations? A: Bryan Barton clarified that the slide represents a scenario where AirJoule replaces 100% of a data center's total water demand, which would be a very sizable project. He does not anticipate initial projects to be at that scale. The company's conversations are primarily focused on new data center builds facing permitting issues and water scarcity, where AirJoule can help get projects back on track by providing on-site water generation. Q: Are the conversations with data center customers being driven more by water issues at new siting locations or by the ability to improve efficiency at current sites? A: Bryan Barton stated that most conversations are centered on new data center builds where permitting and community pushback in water-scarce regions are challenges. AirJoule is positioned as a solution to address these constraints. Pat Eilers added that there is also a sustainability and insurance aspect to distributed water generation, which provides resiliency and is attractive to hyperscalers even if it is not the primary water source. Q: How much more performance improvement do you think you can extract from the first fully assembled Prime unit through tweaks and improvements? A: Bryan Barton explained that with the system just becoming operational, the company is beginning the optimization or "shakedown" process. Improvements will come from individual component optimization, such as fans and pumps, as well as sorbent-level changes like the thickness or quantity of sorbent in each contactor. He expects to see performance tweaks and improvements over the coming months, with a more meaningful update to be provided on the next quarterly call. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in AirJoule Technologies Corporation? Here are five stocks we like better. Commercial expansion: AirJoule signed an exclusive agreement with Kubota for residential developments in Texas and California, with two Core system deployments planned for the third quarter. It is also pursuing data-center, industrial dehumidification and international opportunities, including a Prime deployment in Europe and a Core demonstration in the UAE. Product and manufacturing progress: The company said its full-scale Prime system in Delaware is operating continuously and targeting output of up to 2,000 liters of water per day in high-humidity conditions. Prime contract-manufacturing discussions and Core commercial product plans remain on track for 2027. Financial position: AirJoule reported a second-quarter net loss of $8.5 million and ended the quarter with $41.4 million in cash, while the company and joint venture held a combined $43 million with no debt. It raised its 2026 cash-spend outlook to approximately $27 million-$28 million but said liquidity should fund operations and deployments into 2028. MarketBeat Week in Review – 07/27- 07/31 AirJoule Technologies (NASDAQ:AIRJ) said its second-quarter efforts centered on expanding commercial channels for its atmospheric water-generation and dehumidification systems, including an exclusive residential-development sales agreement with Kubota Corp. and planned deployments in the United States, Europe and the United Arab Emirates. Founder and Chief Executive Officer Matt Jore said water constraints and growing scrutiny of data-center development are creating demand for systems that can generate distilled water on-site from air humidity using low-grade waste heat. He cited recent policy actions in New York and Texas concerning data-center development and water use, arguing that access to water is increasingly becoming a permitting issue for new facilities. → Lumentum Just Delivered the AI Growth Investors Wanted 5 AI Stocks Are Pulling Back—Which Growth Catalysts Still Look Strongest? “The second quarter moved AirJoule from validating the technology to building defined commercial channels,” Jore said in closing remarks. In July, AirJoule signed an exclusive sales agreement with Kubota covering residential developments in Texas and California. Under the arrangement, Kubota will be the exclusive sales channel for AirJoule systems in that market segment. → Ryman Checks Into a $1.38B Hospitality Upgrade AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next Chief Commercialization Officer Bryan Barton said the companies expect to deploy two AirJoule Core systems later in the third quarter, with one near Corpus Christi, Texas, and the other in Irvine, California. The deployments are intended to demonstrate the technology to developers in regions where water availability can limit residential construction. Barton said the anticipated model is a centralized system serving a planned, multi-home residential community rather than an AirJoule unit installed at every individual home. AirJoule would provide distilled potable water, alongside a community water-recycling system, he said. → Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal The company said its water meets FDA bottled-water standards and California drinking-water standards. Barton cited California’s requirement that residential developments of more than 500 units obtain verification of adequate water supplies over a 20-year horizon. When asked whether the Kubota relationship could extend into other verticals, Barton said current partnership discussions are focused on multi-home residential communities. AirJoule also outlined activity related to data centers. The company said it completed the NetZero Innovation Hub for Data Centers’ technology acceleration program in June after being selected from more than 70 applicants in late 2025. The program included collaboration with members such as Google, Microsoft, Data4, Danfoss, Schneider Electric and Vertiv. The company plans to ship its first Prime unit to Europe for a deployment designed to demonstrate the conversion of low-grade data-center waste heat into distilled water. Jore said data-center operators could use such systems to demonstrate a long-term water solution that does not rely on depleting local aquifers. AirJoule commissioned its first full-scale Prime system at its Newark, Delaware, facility in May. Barton said the system has operated outdoors since commissioning and is running continuously with high uptime. The company is targeting production of up to 2,000 liters per day under higher-humidity conditions, while noting that output depends on environmental humidity levels. Barton said engineering work has focused on fan timing, vacuum-pump sequencing and thermal management of sorbent chambers. He added that the company has identified measures intended to close the gap to the system’s operating specification. For its Core platform, AirJoule said it sees demand for industrial dehumidification applications, particularly facilities that operate between 30% and 50% relative humidity. The company is targeting an estimated installed base of 1.2 million conventional desiccant-wheel systems and has begun deploying Core dehumidifier units with strategic customers for demonstrations and validation. Separately, Executive Chairman Pat Eilers said AirJoule shipped a Core system to the UAE for customer demonstrations. The first showcase will take place at Expo City Dubai, followed by deployments and exhibitions across other Emirates. AirJoule also received one of the UAE’s first Expo City green licenses, which the company said provides access to business missions and participation in the Green Modulus Leadership Forum. Management said it is pursuing field deployments while simultaneously preparing both the Prime and Core platforms for commercial manufacturing. Barton said the company has established a component reliability program using dedicated test rigs and accelerated duty cycles to identify potential problems. The company is also working to simplify bills of materials, reduce costs and complete design-for-manufacturing work. Barton said Prime is on schedule for contract-manufacturing discussions in 2027, while the Core dehumidification product remains on track for a 2027 commercial product timeline. Jore said most components used in the Core and Prime systems are relatively common components surrounding the company’s metal-organic-framework-coated contactor, which he described as the core of the system. Chief Financial Officer Stephen Pang said AirJoule reported second-quarter net operating expenses of $4.1 million, including $0.8 million of administrative and engineering expenses reimbursed by its joint venture under a statement of work. Net loss was $8.5 million, primarily reflecting $5.1 million in non-cash losses tied to increases in the fair value of earn-out share and vesting-share liabilities. Joint venture operating expenses totaled about $5 million in the quarter. AirJoule contributed $2.5 million in additional capital to the joint venture. Quarter-end cash totaled $41.4 million, including $14.2 million of net proceeds from a June registered direct offering. Combined cash between AirJoule and the joint venture was $43 million, with no debt. The company raised its 2026 cash-spend outlook slightly to approximately $27 million to $28 million, citing increased commercialization activity across multiple projects and deployments. Pang said AirJoule expects modest paid deployment revenue at the joint venture during 2026, followed by more meaningful commercial revenue beginning in 2027 as Core and Prime deployments come online. Management said current liquidity is sufficient to fund operations, the joint venture and planned commercial deployments into 2028. Montana Technologies Corporation operates as an atmospheric renewable energy and water harvesting technology company. It provides energy and dehumidification, evaporative cooling, and atmospheric water generation through its AirJoule technology. The company is headquartered in Ronan, Montana. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "AirJoule Technologies Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributes the company's strategic focus to growing public and political opposition to data center development, specifically regarding power and water demands. The company is positioning its technology as a solution to permitting delays, allowing operators to demonstrate long-term water security without competing for municipal supplies. A new exclusive partnership with Kubota Corporation targets residential development in water-scarce regions of Texas and California, where water availability is currently a primary gating item for project approval. The joint venture with GE Vernova provided critical technology validation this summer through the operation of an AirJoule Core system at their new Advanced Research Center. Operational progress is being driven by a 'parallel' engineering approach, running reliability testing and design for manufacturing simultaneously to accelerate market adoption. International expansion in the UAE is focused on both efficiency and resiliency, leveraging the region's heavy reliance on centralized desalination infrastructure. Management expects modest paid deployment revenue through the joint venture in 2026, with more meaningful commercial revenue beginning in 2027. The company is preparing for contract manufacturing in 2027 by simplifying the bill of materials and leveraging existing supply chains for commodity components. Liquidity is projected to be sufficient to fund operations, the joint venture, and planned commercial deployments into 2028. Future product development aims to scale capacity from the current 2,000 liters per day to targets of 10,000 and 20,000 liters to meet large-scale industrial needs. Upcoming deployments in Europe with the Net Zero Innovation Hub will focus on integrating waste heat-to-water capabilities within real-world data center operations. The $8.5 million net loss for the quarter was primarily driven by $5.1 million in non-cash losses related to the fair value increase of earn-out and subject vesting shares liabilities. Full-year 2026 cash spend guidance was revised slightly higher to $27 million to $28 million to support increased commercialization across multiple market applications. The company completed a registered direct offering in June, contributing to a quarter-end cash balance of $41.4 million. Regulatory risks are highlighted by new moratoriums on data center permits in New York and a pause on grid connections for data centers in Texas, which management views as a catalyst for adoption of their off-grid water solutions. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management is targeting an installed base of 1.2 million conventional desiccant wheel units, specifically for facilities operating between 30% and 50% relative humidity. Initial strategic deployments are focused on industrial customers who value both high-efficiency dehumidification and the generation of pure water. Design for manufacturing (DFM) activities for both Prime and Core platforms are on track for 2027 contract manufacturing engagements. Management noted that because most components are commodity-based, the transition to contract manufacturing will not be a 'heavy lift' for the organization. The Prime system commissioned in May is running 24/7 with high uptime, and management confirmed they are on track to hit the 2,000 liters per day target. Optimization efforts have focused on fan timing, vacuum pump sequencing, and thermal management of sorbent chambers based on data from Core field deployments. Carrier remains a strategic partner focused on the $300 billion HVAC market and heat recovery systems that provide the warm water necessary for AirJoule systems in data centers.

AIRJ Signs Exclusive Sales Agreement with Kubota Corporation, Commissions First Full-Scale AirJoule Prime System, and Extends Commercialization into the UAE RONAN, Mont., Aug. 13, 2026 (GLOBE NEWSWIRE) -- AirJoule Technologies Corporation (NASDAQ: AIRJ) (“AirJoule Technologies” or “AIRJ”), a leading platform technology that unleashes the power of water from air, today announced its results for the second quarter of 2026 and provided a business update. “We are continuing to execute on our plan to commercialize the AirJoule technology,” said Matt Jore, Founder and Chief Executive Officer of AirJoule Technologies. “Our Kubota partnership enables us to deploy AirJoule systems for residential development in two states where water is a binding constraint on new housing. Alongside that, we have been operating our first Prime system and optimizing its performance before its deployment to Europe. We completed the technology acceleration program supported by the Net Zero Innovation Hub for Data Centers, we were awarded one of the first Expo City Dubai Green Licences in the UAE, and we now have an AirJoule Core system operating at GE Vernova’s new Advanced Research Center Frontier Campus. The technology is validated, and we are working closely with our partners to bring the AirJoule products to our customers.” Second Quarter 2026 Highlights Strategic Partnerships and Agreements Kubota Corporation Exclusive Sales Agreement: AIRJ entered into an exclusive sales agreement with Kubota Corporation (“Kubota”) under which Kubota will act as the exclusive sales channel for AirJoule systems into multi-unit residential developments in Texas and California. Two AirJoule Core systems will be deployed at sites near Corpus Christi, Texas, and Irvine, California, with deployment commencing in the third quarter of 2026. Kubota, established in 1890, maintains operations in more than 150 countries and has expertise in wastewater treatment, water reclamation, pipe systems, and operations and maintenance. Net Zero Innovation Hub for Data Centers: AIRJ completed the technology acceleration program of the Net Zero Innovation Hub for Data Centers (the “Hub”) in June 2026, having been selected from a field of more than seventy applicants in the fall of 2025. Over the course of the program, AIRJ worked with Hub member organizations, among them Google, Microsoft, Data4, Danfoss, Schneider Electric, and Vertiv, to align the AirJoule waste-heat-to-water platform with data center operating requirements. AIRJ expects to ship its first AirJoule Prime system to Europe in the third quarter of 2026, where it will demonstrate the ability to convert low-grade waste heat into pure distilled water. GE Vernova Advanced Research Center Frontier Campus: GE Vernova opened its Advanced Research Center Frontier Campus in Niskayuna, New York, in July 2026 and highlighted AirJoule as one of the key technologies that its research center supports. An AirJoule Core system is installed at the campus and operates as a demonstration unit for customers and partners visiting the site. The installation reflects GE Vernova’s continued support for the 50/50 joint venture with AIRJ. Expo City Dubai Green Licence: In July 2026, AirJoule Technologies received one of the first Expo City Dubai Green Licences, admitting the company to the inaugural cohort of the Green Innovation District. The Green Innovation District is the UAE’s first district dedicated to sustainable innovation, and the Green Licence is awarded only to companies able to demonstrate sustainability credentials. AirJoule Core Deployment Program in the UAE: In early August 2026, AIRJ shipped an AirJoule Core system to the UAE to support a program of customer demonstrations and performance validation across the country. The initial installation will be at Expo City Dubai, which exhibits technologies addressing water security and related challenges to a public and industry audience. Subsequent placements will support on-site customer demonstrations and exhibitions across various emirates of the UAE. Product Development and Manufacturing First Full-Scale AirJoule Prime System Commissioned and Operating: AIRJ commissioned its first full-scale AirJoule Prime system at its Newark, Delaware facility in May 2026, and the system has operated outdoors since commissioning. System 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. AirJoule Prime Unveiling: On June 26, 2026, AIRJ unveiled the first Prime system, hosting Delaware Governor Matt Meyer and United States Senator Chris Coons, along with local elected officials and representatives from regional economic development organizations. Additional Prime Systems Under Construction: AIRJ is building additional Prime systems at Newark over the coming months. The additional systems allow AIRJ to continue optimizing at Newark and to provide showcase assets for customer demonstrations and performance validation while the first system is deployed in Europe. Core DH Energy Performance: Head-to-head testing of the AirJoule Core DH system against an incumbent desiccant wheel standard continued to demonstrate significant energy savings across AIRJ’s target humidity range. Core DH targets the 1.2 million unit installed base of conventional desiccant wheel systems in dry storage and cold storage facilities that operate between 30% and 50% relative humidity. AIRJ is deploying Core DH systems to strategic customers beginning in the third quarter of 2026. Productization and Manufacturing Readiness: AIRJ ran commercial deployment and product development in parallel during the quarter, continuing to deploy systems with a limited number of strategic customers while a second engineering track completes design for manufacturing, cost reduction, reliability testing, and product certification for production at scale. AIRJ is also reducing and simplifying the bill of materials on both platforms and working through a defined sequence to prepare for contract manufacturing. Balance Sheet and Liquidity Cash Position: AIRJ ended the second quarter of 2026 with $41.4 million of cash on the balance sheet, which includes $14.2 million of net proceeds from a registered direct offering completed in June 2026. Combined cash across AirJoule Technologies and the joint venture was $43.0 million with no debt. Capital Contributions to the Joint Venture: AirJoule Technologies funded $2.5 million in capital contributions to the joint venture during the second quarter to support ongoing productization, manufacturing, and commercial deployment activities. Total joint venture operating expenses for the quarter were approximately $5.0 million. 2026 Spend Framework Updated: AIRJ now expects approximately $27 million to $28 million of combined cash spend across AirJoule Technologies and the AirJoule joint venture during 2026, compared with the approximately $25 million communicated previously. The increase reflects greater commercialization activity at the joint venture as AIRJ pursues multiple projects and deployments across different applications. AIRJ has sufficient liquidity to fund operations, the joint venture, and planned commercial deployments into 2028. 2026 Outlook Key priorities for the remainder of 2026 include: Product Launches: Continue optimizing the first AirJoule Prime system; bring additional Prime systems online at Newark; and deploy AirJoule Core DH systems. Customer Deployments: Begin the two Kubota Core deployments near Corpus Christi, Texas and Irvine, California; deploy the first Prime system in Europe through the Net Zero Innovation Hub for Data Centers; execute the AirJoule Core demonstration program in the UAE beginning at Expo City Dubai; and build the deployed reference base and contracted customer relationships that support scaled commercial activity in 2027. Manufacturing and Scale: Complete design for manufacturing and bill-of-materials reduction work on both platforms and continue contract manufacturing preparations. Quarterly Report on Form 10-Q AirJoule Technologies’ condensed consolidated financial statements and related footnotes are available in its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, which is expected to be filed with the Securities and Exchange Commission (“SEC”) on August 14, 2026. Earnings Call Webcast AirJoule Technologies will host a conference call to discuss second quarter 2026 results at 8:30 AM ET on Friday, August 14, 2026. To access the live audio webcast of the conference call, please visit the AirJoule Technologies investor relations website at https://airjouletech.com/investors. To participate by phone, dial 877-407-6184. An archived webcast will be available following the call. About AirJoule Technologies Corporation AirJoule Technologies Corporation (NASDAQ: AIRJ) is a leading platform technology that unleashes the power of water from air. Through its joint venture with GE Vernova and in partnership with Carrier Global Corporation, the Company is freeing the world of its water and energy constraints by delivering groundbreaking sorption technologies. For more information, visit https://airjouletech.com. Follow AirJoule Technologies on LinkedIn: https://www.linkedin.com/company/airjoule-tech/ Forward Looking Statements The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding AirJoule Technologies and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “may,” “should,” “will,” “expect,” “might,” “plan,” “anticipate,” “could,” “intend,” “target,” “goal,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “positioned,” “seek,” “would” or “continue,” and the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, AirJoule Technologies expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. AirJoule Technologies cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond AirJoule Technologies’ control. These risks include, but are not limited to, our ability to implement business plans and forecasts, including the ability to develop, deploy and commercialize our technology and equipment, risks related to our arrangements with strategic partnerships and other third parties; the availability and cost of materials needed to develop, deploy and commercialize our technology and equipment, our status as an early stage company with limited operating history, and the other risks and uncertainties described in our SEC filings including the “Risk Factors” section of our most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. AirJoule Technologies’ SEC filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings. Trademark Protection AirJoule Technologies’ name, logos and website name and address are trademarks or service marks. Solely for convenience, in some cases, the trademarks, trade names and service marks referred to in this press release are listed without the applicable ®, TM and SM symbols, but AirJoule Technologies will assert, to the fullest extent under applicable law, its rights to these trademarks, trade names and service marks. Contacts Investor Relations & Media:Tom Divine – Vice President, Investor Relations and [email protected]

Interested in Unilever PLC? Here are five stocks we like better. Unilever raised its full-year outlook after second-quarter underlying sales growth accelerated to 5.8%, driven by 5.5% volume growth—the company’s strongest quarterly volume performance since 2010. Growth was led by power brands, Home Care and emerging markets: Home Care sales increased 9.1% in the second quarter, while India grew 10%. Foods underperformed, slowing to 0.2% growth amid weakness in North America and Europe. Despite roughly €300 million of first-half inflation, underlying operating margin improved to 20.3%. Unilever expects greater pricing contributions in the second half, continued modest margin improvement and €6 billion in share buybacks from 2026 to 2029. AirJoule Technologies: A Cool Shot at a Multibagger Unilever (NYSE:UL) reported accelerating volume-led growth in the second quarter, prompting the consumer products company to raise its full-year outlook as it expects pricing to become a larger contributor in the second half. Underlying sales rose 4.8% in the first half, including 4.2% from volume and 0.6% from price, Chief Financial Officer Srinivas Phatak said on the company’s results call. Second-quarter underlying sales growth accelerated to 5.8%, driven by 5.5% volume growth, which management described as Unilever’s strongest quarterly volume performance since 2010. → Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit McCormick & Company Falls to Value Levels Income Investors Love First-half turnover was €25.6 billion, up 0.5% from a year earlier. Acquisitions net of disposals contributed 0.7% to turnover growth, while currency movements reduced turnover by 4.9%. Underlying operating profit rose 0.9% to €5.2 billion, and underlying earnings per share increased 2.4% to €1.61. Free cash flow increased €500 million year over year to €1.5 billion. Unilever said its power brands, which account for 78% of turnover, grew 6% in the first half and 6.9% in the second quarter. Second-quarter power-brand volume growth was 6.8%, with 15 of the company’s 30 power brands posting double-digit growth. → This Tiny AI Supplier Could Be More Important Than the Chipmakers 5 Oversold Large-Cap Stocks That May Be Worth Buying Soon Beauty and Wellbeing recorded first-half underlying sales growth of 5.9%, accelerating to 8.1% in the second quarter. Hair care grew 9% during the half, supported by Dove, Sunsilk and K18. Vaseline posted double-digit growth, while the prestige beauty portfolio also accelerated, with Paula’s Choice, Hourglass and Tatcha each delivering double-digit growth in the second quarter. Personal Care grew 4.8% in the first half and 5.9% in the second quarter. Unilever said it regained market leadership in U.S. deodorants, supported by Dove, while Rexona returned to growth in Brazil after changes to format mix and shelf space. → 2 Stocks Built to Thrive If Inflation Refuses to Fade Home Care was the company’s fastest-growing business group, with underlying sales up 7.6% in the first half and 9.1% in the second quarter. Nearly all first-half growth came from volume. The segment benefited from strong fabric-cleaning growth in India, Brazil and Indonesia, as well as continued momentum in fabric enhancers led by Comfort. Foods grew 1.2% in the first half but slowed to 0.2% growth in the second quarter. Management cited weaker performance in North America and Europe, particularly in U.S. condiments, where it said increased competition in premium mayonnaise products using alternative oils, including avocado oil, hurt performance. The company said it is rolling out a Hellmann’s avocado line and adjusting pricing and distribution plans. Emerging markets continued to be a key growth driver. Asia Pacific Africa delivered 7.3% underlying sales growth in the first half, with 6.1% from volume, while Latin America grew 7.6%, including 5.7% volume growth. India led the second-quarter performance, with 10% underlying sales growth. Management said the country achieved record market shares in laundry and hair care. China grew by a mid-single-digit rate, aided by digital and e-commerce channels, while Indonesia grew 7% on broad-based gains across business groups. North America grew 2.7% in the first half, with 3.2% volume growth, and growth accelerated to 3.6% in the second quarter. The company cited gains in deodorants, skin cleansing, hair care and prestige beauty. Europe declined 0.9% in the first half amid a softer market environment, with the weakness concentrated in Foods. Management said it had not seen a material divergence between sell-in and sell-out trends in the U.S. While some retailer destocking occurred in Foods, it was not material at the company level. Underlying operating margin expanded 10 basis points to 20.3% in the first half despite a 70-basis-point year-over-year decline in gross margin. Phatak said inflation, including commodity, controlled-cost and other pressures, totaled about €300 million in the first half and is expected to total about €550 million in the second half. The company now expects full-year inflation of roughly €800 million to €900 million, centered around €850 million. Much of the inflation is concentrated in Home Care and emerging markets, according to Phatak. Unilever maintained Brand and Marketing Investment at 16.1% of turnover, with additional spending directed toward power brands, innovation and FIFA World Cup activations. The company said overheads improved by approximately 70 basis points after completing an €800 million productivity program ahead of schedule. Phatak said Unilever expects second-half gross margins to remain around first-half levels on an absolute basis as higher pricing reaches the income statement. The company expects some volume sensitivity as prices rise. Unilever raised its full-year outlook and now expects underlying sales growth within its multiyear range of 4% to 6%, with approximately 3% volume growth for the year. It expects second-half underlying sales growth of 4% to 5%, led by pricing, and continues to target a modest improvement in underlying operating margin versus 2025. The company expects currency headwinds to ease in the second half. Based on July spot rates, it projected a full-year currency impact on turnover of around 3%, compared with a 4.9% reduction during the first half. On capital allocation, Unilever increased its second-quarter dividend by 3% and completed a €1.5 billion share repurchase program in June. It expects operating performance and proceeds from the Foods transaction to support €6 billion in share buybacks between 2026 and 2029. Unilever also completed the acquisition of U.S. supplements brand Grüns in June. Management said the business complements its wellbeing portfolio and expands its exposure to premium, high-growth and digitally led consumer segments. The company said its planned combination of Foods with McCormick is progressing, with regulatory, tax, filing and integration work continuing. Unilever PLC is a global consumer goods company with roots dating back to the early 20th century, formed from the merger of the British firm Lever Brothers and the Dutch company Margarine Unie. The company develops, manufactures and markets a broad portfolio of branded products in personal care, home care and foods and refreshments. Unilever's corporate structure and listings reflect its long history in both the United Kingdom and the Netherlands, and it operates at scale across diverse consumer markets worldwide. Unilever's business is organized around major product categories—Beauty & Personal Care, Home Care and Foods & Refreshment—and includes numerous well-known consumer brands across those categories. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Unilever Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Interested in Oracle Corporation? Here are five stocks we like better. Oracle posted a record fiscal Q4 with revenue of $19.2 billion, up 21%, while full-year revenue topped $67 billion for the first time. Cloud infrastructure revenue jumped 93% and cloud applications rose 10%, reflecting strong AI and cloud demand. Future revenue visibility surged as remaining performance obligations climbed to $638 billion, up 363%. Oracle said it signed $67 billion in AI infrastructure contracts during the quarter and now has $75 billion in combined prepaid or bring-your-own-hardware commitments. Oracle is ramping up investment and guiding for major growth in fiscal 2027, including about $70 billion in net cash capital expenditures and roughly $40 billion in financing. Management forecasts 34% constant-currency revenue growth for fiscal 2027, with first-quarter cloud revenue expected to rise 58% to 64%. AirJoule Technologies: A Cool Shot at a Multibagger Oracle (NYSE:ORCL) reported a record fiscal fourth quarter and outlined plans for another year of heavy capital investment as executives said demand for AI infrastructure, cloud database services and cloud applications is driving a sharp increase in contracted future revenue. On the company’s fourth-quarter and fiscal 2026 earnings call, Chief Financial Officer Hilary Maxson said revenue reached $19.2 billion in the quarter, up 21% in U.S. dollars. Cloud infrastructure revenue grew 93%, which Maxson attributed to demand for AI workloads and database services, while cloud applications revenue rose 10%. → Meta Unveils Subscriptions: A New Offering With Real Growth Potential Microsoft Build 2026 Is Really Just One Big AI Stress Test Non-GAAP operating income increased 22% to $8.6 billion, and non-GAAP earnings per share were $2.11, up 24% in U.S. dollars. Maxson said EPS growth included a one-time net gain on investment; excluding that gain, non-GAAP EPS rose 20%. For the full fiscal year, Oracle surpassed $67 billion in revenue for the first time. Non-GAAP operating income was $29 billion, up 16%, and non-GAAP EPS was $7.63, up 27%, including one-time investment gains. Excluding those gains, non-GAAP EPS was $6.83. Cash flow from operations was $32 billion, up 54%. → Cybersecurity Earnings: 1 AI Standout and 2 Stocks Under Pressure MongoDB's AI Advantage Is Starting to Show Up in Results Maxson said Oracle’s remaining performance obligations, or RPO, ended the year at $638 billion, up 363%. She described the figure as “unprecedented” and said it gives the company visibility into future revenue growth backed by long-term customer commitments. Oracle expects 12% of RPO to be recognized over the next 12 months and another 34% between 13 and 36 months. Maxson said those percentages are expected to accelerate in coming quarters based on the company’s current long-term outlook. → Planet Labs: Coming Back Down to Earth Chief Executive Officer Clay Magouyrk said Oracle signed $67 billion in AI infrastructure contracts during the quarter, with the majority structured as either bring-your-own-hardware or prepaid arrangements. He said Oracle now has $75 billion in combined bring-your-own-hardware or prepaid customer contracts, adding that those contracts have “no degradation in margin” compared with other contracts. Magouyrk also said Oracle delivered more than 1.2 gigawatts of capacity to customers in fiscal 2026 and expects fiscal first-quarter delivery to approach 1 gigawatt, nearly matching the capacity delivered over the prior four quarters combined. He said global GPU utilization was 97.5% and that, when 35,000 GPUs from 59 customers came up for renewal in the fourth quarter, 49% of customers renewed for 92% of those GPUs, with most of the remaining capacity resold to other customers in the same quarter. Chief Executive Officer Mike Sicilia said Oracle Cloud Applications generated $4.1 billion in revenue in the quarter, up 10%, while SaaS deferred revenue increased 16%. He said Oracle took thousands of customers live during the quarter, including more than 300 in Fusion alone. Sicilia cited customer activity including Exelon adopting Oracle’s utilities platform, Wright County Sheriff’s Office going live with Oracle’s Public Safety Suite, Westfield Insurance implementing Fusion ERP and Piraeus Bank going live with Oracle Banking. He also said Oracle continued its electronic health record deployment at the U.S. Department of Veterans Affairs, adding four VA medical centers in Michigan during the quarter and four more in Ohio in early June. Oracle also said the U.S. Office of Personnel Management announced an agency-wide award to Oracle for Fusion HCM, though Sicilia noted that award was not part of fourth-quarter bookings. In database, Sicilia said cloud database revenue grew 29% in the quarter, with multi-cloud revenue up 404% year over year and bookings up 325%. He said Oracle is still in the “early innings” of multi-cloud database growth as it opens new regions and partnerships, including with other cloud providers. Sicilia said customers have moved beyond AI experimentation and are looking to deploy “enterprise-grade, complete agentic solutions” to help run their businesses. He said Oracle has delivered more than 1,000 AI agents across its application suites over the past year. Oracle is also introducing new pricing models for agentic AI features. Sicilia said many AI capabilities in Oracle’s core applications will continue to be included at no extra charge, while customers can buy additional agentic capacity through token bundles usable across application suites. He said Oracle is also introducing outcome-based commercial models, such as pricing interview agents based on the number of candidates screened or hospitality upsell agents based on a percentage of consumer upsell transactions. During the fourth quarter, Oracle began a limited rollout of token bundles, with 33 customers including Aon Services Corporation and Liberty Energy pre-purchasing tokens for access to more advanced reasoning and models, Sicilia said. Oracle’s full-year net cash outlay for capital expenditures was $48 billion, including prepayments and timing impacts of about $8 billion. For fiscal 2027, Maxson said Oracle expects net cash outlay for capital expenditures of about $70 billion. That figure includes customer prepayments and timing impacts expected at $20 billion to $25 billion, meaning reported capital expenditures will be higher by that amount. To support its investment program, Maxson said Oracle expects to raise about $40 billion in debt and equity in fiscal 2027, including a previously announced $20 billion at-the-market equity issuance. She said Oracle does not anticipate raising additional debt funding in calendar 2026. Oracle guided for fiscal 2027 total revenue growth of 34% in constant currency. Maxson said non-GAAP EPS is expected to be $8.05, up 18% in constant currency, excluding one-time investment gains recorded in fiscal 2026 from Ampere and Bloom Energy. For the fiscal first quarter of 2027, Oracle expects total revenue growth of 27% to 29% in U.S. dollars, cloud revenue growth of 58% to 64%, and non-GAAP EPS of $1.72 to $1.76, up 17% to 20% in U.S. dollars. Maxson said revenue and earnings are expected to accelerate in the second half of the year as additional data center capacity comes online. In response to analyst questions about component cost inflation, Magouyrk said recent increases in capital expenditures were largely tied to timing rather than component prices. He said Oracle uses fixed-price contracts when it has certainty on costs, but when supply chain or future cost risks are higher, contracts include mechanisms that allow costs to float so Oracle is not left with reduced margins. Asked how investors should evaluate returns during the heavy investment period, Maxson said Oracle sees high-20s return on invested capital at steady state for large infrastructure projects at the project level, once revenues have ramped. On competition in AI data centers, Magouyrk said Oracle remains focused on customer satisfaction and service delivery. He said demand continues to exceed supply, and that Oracle’s ability to design, secure, operate and support large-scale cloud infrastructure is central to retaining and winning customers. Oracle said it expects to announce fiscal first-quarter 2027 results on September 10 and plans to hold its Investor Day on October 28 in Las Vegas. Oracle Corporation is a multinational technology company that develops and sells database software, cloud engineered systems, enterprise software applications and related services. The company is widely known for its flagship Oracle Database and a portfolio of enterprise-grade software products that support data management, application development, analytics and middleware. Over recent years Oracle has expanded its focus to include cloud infrastructure and cloud applications, positioning itself as a provider of both platform and software-as-a-service solutions for large organizations. Oracle's product and service offerings include Oracle Database and the Autonomous Database, Oracle Cloud Infrastructure (OCI), enterprise resource planning (ERP), human capital management (HCM) and supply chain management (SCM) cloud applications (often grouped under Oracle Fusion Cloud Applications), middleware such as WebLogic, and developer technologies including Java and MySQL. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Oracle Q4 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for June 2026.

This article first appeared on GuruFocus. Release Date: May 15, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. AirJoule Technologies Corp (NASDAQ:AIRJ) has made significant progress in 2026, including the completion of the first AirJoule Prime full-scale system at their Newark, Delaware facility. The company has a strong cash position with no debt, supporting operations through 2027. AirJoule is seeing strong customer demand across various markets, particularly in hyperscale data centers and residential development. The AirJoule Core platform has improved performance and durability, with the design now essentially locked. The company is actively engaged in the Middle East, with plans to scale across the UAE and broader GCC markets, leveraging their technology for water security. AirJoule Technologies Corp (NASDAQ:AIRJ) recorded a non-cash impairment charge of approximately $55 million, impacting their financial results. The company reported a net loss of $49.8 million for the first quarter of 2026. There is uncertainty around the timeline for customer orders, as some customers require pilot deployments before committing to larger orders. The commercialization of the AirJoule Core and Prime systems is still in progress, with full-scale commercial revenue expected to begin in 2027. The company faces challenges in reducing unit costs and optimizing the performance of their systems, which are ongoing processes. Warning! GuruFocus has detected 2 Warning Sign with AIRJ. Is AIRJ fairly valued? Test your thesis with our free DCF calculator. Q: What will it take for customers to place orders for the new units? Do they need pilot deployments first? A: (Unidentified_5) Customers have different requirements; some want to see pilot deployments, while others are satisfied with operational data. We are having a range of conversations with various customers, each with unique needs before committing to orders. Q: How much more improvement in performance can be expected from the assembled unit? A: (Unidentified_5) With the system now operational, we are starting the optimization process. Improvements can come from optimizing components like fans and pumps, as well as sorbent-level changes. We expect to see performance tweaks over the coming months and will provide updates in future calls. Q: Now that the core and prime designs are stable, what is the roadmap to reduce unit costs? A: (Unidentified_5) Cost reduction activities are ongoing throughout 2026, focusing on finding cost-effective and efficient components like pumps and fans. This process will continue leading up to the launch of the core AWG system and will be completed before the launch of the Prime and DH units. Q: What planning is being done towards the contract manufacturing shift in 2028? A: (Unidentified_5) Initial conversations with contract manufacturing partners have begun. Our system uses largely off-the-shelf components, making it suitable for contract manufacturing. We are planning for 2028 to align with anticipated volume scales, driven by customer demand. Q: Can you provide more details on the water purchase agreement model and its timeline? A: (Unidentified_3) The water purchase agreements are exciting, especially when utilizing waste heat to reduce costs. We expect to plan and secure commitments for these agreements alongside equipment sales for the Prime, potentially seeing developments in 2026. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

AIRJ Completes First Full-Scale AirJoule Prime Build, Advances AirJoule Core Platform, and Strengthens Commercial Engagement RONAN, Mont., May 14, 2026 (GLOBE NEWSWIRE) -- AirJoule Technologies Corporation (NASDAQ: AIRJ) (“AirJoule Technologies” or “AIRJ”), a leading platform technology that unleashes the power of water from air, today announced its results for the first quarter of 2026 and provided a business update on its progress toward commercialization. “In the first quarter of 2026, we delivered disciplined progress against the objectives we set out for the year,” said Matt Jore, Chief Executive Officer of AirJoule Technologies. “Through our 50/50 joint venture with GE Vernova, we completed the first full-scale build of our flagship AirJoule Prime system (~2,000 liters per day) at our Newark, Delaware facility. We advanced the AirJoule Core platform (~250 liters per day), with the design now locked. We introduced a Core product roadmap with two variants, targeting both water generation and energy-efficient dehumidification. And we deepened customer engagements across various applications including data centers, residential development, military, and industrial dehumidification. The work we are doing lays the foundation for initial commercialization in 2026 and for scaled commercial activity in 2027 and beyond.” First Quarter 2026 Highlights Product Development and Manufacturing AirJoule Prime First Full-Scale Build Complete: AIRJ completed the first full-scale build of its AirJoule Prime system at its Newark, Delaware facility, with the first unit currently operational. The Prime system contains 16 vacuum chambers, with the balance of the bill of materials primarily consisting of off-the-shelf components. AIRJ engineered the Prime system for scale from the outset, with the overall design now complete. AIRJ will optimize the system at Newark over the next several months, after which the unit is planned for deployment in Europe in conjunction with the Net Zero Innovation Hub for Data Centers. AIRJ has begun the build of an additional AirJoule Prime system at the Newark facility, which will serve as an on-site customer showcase unit supporting demonstrations and proof-of-value engagements. AirJoule Core Platform Advances: AIRJ continued to improve the performance and durability of its AirJoule Core platform during the first quarter through systematic optimization of airflow, thermal management, and contactor coating. The Core design is locked, and updated product specifications are available on AIRJ’s website at airjouletech.com. Two-Variant Core Product Roadmap: AIRJ recently introduced a two-variant Core product roadmap. AirJoule Core AWG, with a target commercial launch in the fourth quarter of 2026, is a water generation system purpose-built for distributed deployment, with the U.S. military as the primary customer focus alongside commercial and residential applications. AirJoule Core DH, with a target commercial launch in 2027, is materially the same hardware optimized through process configuration and controls for energy-efficient dehumidification applications. Core DH Performance: Initial performance of the AirJoule Core DH system demonstrated up to 40% energy savings versus incumbent desiccant-wheel technology in target operating ranges, with further improvements expected as the platform is optimized. AirJoule’s sorbent regenerates at 60-70°C versus 120-150°C for conventional desiccant wheels, enabling heat-pump-driven regeneration in place of electric reheat or natural gas. Initial target markets are dry storage and cold storage facilities operating at 30-50% relative humidity. Certification Progress: AIRJ advanced its UL certification work for the AirJoule systems during the quarter and continued its water-quality compliance program. AirJoule water meets standards for FDA bottled water, and AIRJ continues to validate compliance with California water-quality standards, the most stringent regulatory market in the United States. NSF and additional water-quality certifications are being addressed on a customer-by-customer basis. Independent Recognition: AirJoule was named "Water Tech Innovation of the Year" in the 2026 CleanTech Breakthrough Awards Program. The recognition followed a multi-step evaluation by an independent panel of industry experts on criteria including innovation, performance, market impact, and value, and adds third-party validation to the AirJoule platform as AIRJ moves from pilot deployments to commercial contracts. Strategic Partnerships and Agreements Net Zero Innovation Hub for Data Centers: AIRJ continued to build momentum within the Hub’s startup acceleration program in Denmark, which exposes participating companies to the technical requirements and integration considerations of the data center industry. Waste heat reuse has emerged as an important regulatory priority in Europe under the EU Energy Efficiency Directive’s data center waste heat provisions, and AIRJ is collaborating with consortium members to address that need. Once successfully commissioned, AIRJ’s first AirJoule Prime system is planned for deployment in Europe in conjunction with the Net Zero Innovation Hub. U.S. Army Engineer Research and Development Center: AIRJ continued its engagement with the U.S. Army Engineer Research and Development Center (“ERDC”) under the Cooperative Research and Development Agreement (“CRADA”) executed in October 2025. The collaboration is focused on integrating AirJoule’s waste-heat-to-water platform with tactical waste heat recovery systems to deliver resilient water supply solutions for forward-deployed military personnel. TenX Investment Exclusive Distribution Agreement: In January 2026, AIRJ announced an exclusive distribution agreement with TenX Investment, providing AirJoule with market access and local expertise across six Gulf countries: the UAE, Oman, Qatar, Saudi Arabia, Bahrain and Kuwait. AIRJ is pacing deployment activity to coincide with regional conditions and the availability of production-ready hardware later in 2026. Commercial Pipeline Development AIRJ is seeing strong customer demand across a range of markets, with active engagements that point to commercial activity beginning in 2027. Residential Development in the U.S. Southwest: AIRJ is deepening a co-development framework with a global partner targeting water-scarce residential markets in the U.S. Southwest. The AirJoule Core and Prime platforms address water-permitting constraints that have stalled residential development projects across the region. Red Dot Ranch — Pescadero, California: AIRJ completed the initial pilot deployment of an AirJoule Core system at the Red Dot Ranch Foundation site in Pescadero during the first quarter. The deployment supports Red Dot Ranch’s climate-positive prototype housing development and demonstrates AirJoule’s applicability beyond industrial and commercial markets. Pending successful evaluation, AIRJ and Red Dot Ranch expect to expand the partnership over the coming years. Hyperscaler White-Paper Analysis: AIRJ is conducting a detailed analysis in collaboration with a leading hyperscale data center operator, examining AirJoule Prime’s economic and technical performance at discrete data center locations and configurations, including waste-heat integration and chiller-system integration. A version of this analysis is now available as a white paper on AIRJ’s website. Balance Sheet and Liquidity Strong Cash Position: Following the January 2026 registered equity offering with net proceeds of $22.1 million, AIRJ ended the first quarter of 2026 with $31.1 million of cash. Cash at the 50/50 joint venture with GE Vernova was $3.9 million, for a combined cash position of $35.0 million with no debt. Capital Contributions to the Joint Venture: AirJoule Technologies funded $10 million in capital contributions to the joint venture during the first quarter, in line with the operating budget framework established in March 2026. 2026 Spend Framework Reaffirmed: AIRJ continues to expect approximately $25 million of combined cash spend across the AirJoule Technologies and the AirJoule joint venture during 2026, in line with prior guidance. AIRJ has sufficient cash to fund operations, the joint venture, and planned commercial deployments through 2027. 2026 Outlook Key priorities for the remainder of 2026 include: Product Launches: Commission and operate the first AirJoule Prime system at Newark and prepare for its deployment in Europe via the Net Zero Innovation Hub; deliver first commercial AirJoule Core systems following completion of certifications, with Core AWG targeted for fourth quarter 2026 launch and Core DH targeted for a 2027 launch. Customer Deployments: Advance customer engagements across residential development in the U.S. Southwest, hyperscale data centers through our collaboration with the Net Zero Innovation Hub for Data Centers, the U.S. military through the ERDC CRADA, and the Middle East via TenX Investment, building the deployed reference base and contracted customer relationships that support scaled commercial activity in 2027. Dehumidification: Further improve Core DH performance and build out customer engagements for the Core DH variant during the second half of 2026, with commercial availability targeted in 2027. Quarterly Report on Form 10-Q AirJoule Technologies’ condensed consolidated financial statements and related footnotes are available in its Quarterly Report on Form 10-Q for the three months ended March 31, 2026, which is expected to be filed with the Securities and Exchange Commission (“SEC”) on May 15, 2026. Earnings Call Webcast AirJoule Technologies will host a conference call to discuss first quarter 2026 results at 8:30 AM ET on Friday, May 15, 2026. To access the live audio webcast of the conference call, please visit the AirJoule Technologies investor relations website at https://airjouletech.com/investors. To participate by phone, dial 877-407-6184. An archived webcast will be available following the call. About AirJoule Technologies Corporation AirJoule Technologies Corporation (NASDAQ: AIRJ) is a leading platform technology that unleashes the power of water from air. Through its joint venture with GE Vernova and in partnership with Carrier Global Corporation, the Company is freeing the world of its water and energy constraints by delivering groundbreaking sorption technologies. For more information, visit https://airjouletech.com. Forward Looking Statements The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding AirJoule Technologies and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “may,” “should,” “will,” “expect,” “might,” “plan,” “anticipate,” “could,” “intend,” “target,” “goal,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “positioned,” “seek,” “would” or “continue” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, AirJoule Technologies expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. AirJoule Technologies cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond AirJoule Technologies’ control. These risks include, but are not limited to, our ability to implement business plans and forecasts, including the ability to develop, deploy and commercialize our technology and equipment, risks related to our arrangements with strategic partnerships and other third parties; the availability and cost of materials needed to develop, deploy and commercialize our technology and equipment, our status as an early stage company with limited operating history, and the other risks and uncertainties described in our SEC filings including the “Risk Factors” section of our most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. AirJoule Technologies’ SEC filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings. Trademark Protection AirJoule Technologies’ name, logos and website name and address are trademarks or service marks. Solely for convenience, in some cases, the trademarks, trade names and service marks referred to in this press release are listed without the applicable®, and SM symbols, but AirJoule Technologies will assert, to the fullest extent under applicable law, its rights to these trademarks, trade names and service marks. Contacts Investor Relations & Media: Tom Divine – Vice President, Investor Relations and Finance [email protected]