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Side-by-side financial comparison of Aqua Metals, Inc. (AQMS) and Sigma Lithium Corp (SGML). Click either name above to swap in a different company.

Aqua Metals, Inc. develops and commercializes sustainable hydrometallurgical recycling technologies for lead-acid batteries, eliminating toxic emissions from traditional smelting. It serves automotive, energy storage, and industrial battery markets across North America, focusing on circular economy solutions for critical battery materials.

Sigma Lithium Corp is a sustainable lithium mining firm operating assets primarily in Brazil. It produces high-purity battery-grade lithium concentrate, supplying global electric vehicle manufacturers and energy storage providers to support the global clean energy transition.

AQMS vs SGML — Head-to-Head

Bigger by revenue
SGML
SGML
Infinity× larger
SGML
$15.3K
$0
AQMS

Income Statement — Q3 FY2025 vs Q3 FY2024

Metric
AQMS
AQMS
SGML
SGML
Revenue
$0
$15.3K
Net Profit
$-3.1M
$-25.1K
Gross Margin
Operating Margin
Net Margin
-120.1%
Revenue YoY
Net Profit YoY
40.1%
EPS (diluted)

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AQMS
AQMS
SGML
SGML
Q3 25
$0
Q1 25
$0
Q3 24
$0
$15.3K
Q2 24
$0
$33.5K
Q1 24
$0
Net Profit
AQMS
AQMS
SGML
SGML
Q3 25
$-3.1M
Q1 25
$-8.3M
Q3 24
$-5.2M
$-25.1K
Q2 24
$-6.2M
$-10.8K
Q1 24
$-5.8M
Gross Margin
AQMS
AQMS
SGML
SGML
Q3 25
Q1 25
Q3 24
Q2 24
35.2%
Q1 24
Net Margin
AQMS
AQMS
SGML
SGML
Q3 25
Q1 25
Q3 24
-120.1%
Q2 24
-23.6%
Q1 24

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AQMS
AQMS
SGML
SGML
Cash + ST InvestmentsLiquidity on hand
$3.6M
$47.9K
Total DebtLower is stronger
Stockholders' EquityBook value
$6.5M
$79.9K
Total Assets
$10.5M
$269.2K
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AQMS
AQMS
SGML
SGML
Q3 25
$3.6M
Q1 25
$1.6M
Q3 24
$3.0M
$47.9K
Q2 24
$7.8M
$55.0K
Q1 24
$8.3M
Stockholders' Equity
AQMS
AQMS
SGML
SGML
Q3 25
$6.5M
Q1 25
$9.5M
Q3 24
$20.9M
$79.9K
Q2 24
$25.2M
$94.8K
Q1 24
$22.9M
Total Assets
AQMS
AQMS
SGML
SGML
Q3 25
$10.5M
Q1 25
$18.1M
Q3 24
$28.5M
$269.2K
Q2 24
$33.7M
$302.3K
Q1 24
$31.4M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AQMS
AQMS
SGML
SGML
Operating Cash FlowLast quarter
$-2.3M
$-4.4K
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AQMS
AQMS
SGML
SGML
Q3 25
$-2.3M
Q1 25
$-2.8M
Q3 24
$-3.6M
$-4.4K
Q2 24
$-3.8M
$-29.6K
Q1 24
$-4.3M
Free Cash Flow
AQMS
AQMS
SGML
SGML
Q3 25
Q1 25
$-3.0M
Q3 24
$-4.6M
Q2 24
$-7.5M
Q1 24
$-7.0M

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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