Aquabounty Technologies, Inc. (AQB): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da aquicultura sustentável, a Aquabounty Technologies fica na vanguarda da engenharia genética revolucionária, transformando como produzimos salmão com eficiência sem precedentes. Seu inovador salmão Aquadvantage representa um salto quântico na produção de alimentos, promissores ciclos de crescimento mais rápidos, impacto ambiental reduzido e uma solução potencial para os desafios globais de fornecimento de frutos do mar. Ao modificar engenhosamente a genética do salmão, esta empresa inovadora de biotecnologia está reescrevendo as regras da agricultura de peixes, oferecendo um vislumbre de um futuro onde a tecnologia e a sustentabilidade convergem para atender às necessidades críticas de segurança alimentar global.

Aquabounty Technologies, Inc. (AQB) - Modelo de negócios: Parcerias -chave

Instituições de pesquisa em tecnologia de aquicultura

Aquabounty colabora com as seguintes instituições de pesquisa:

Instituição	Foco de colaboração	Ano estabelecido
Universidade de Massachusetts	Pesquisa de Engenharia Genética	2010
Memorial University of Newfoundland	Desenvolvimento de Tecnologia da Aquicultura	2015

Empresas de investimento agrícola e biotecnologia

As principais parcerias de investimento incluem:

• Intrexon Corporation (agora Randome Holding Company) - US $ 12,5 milhões em 2010 em 2010
• Cargill Inc. - Investimento estratégico de biotecnologia
• Bunge Limited - Parceria de Tecnologia Agrícola

Agências regulatórias do governo

Parcerias e aprovações regulatórias:

Agência	Status de aprovação	Ano de aprovação
FDA	Salmão aprovado geneticamente projetado	2015
USDA	Conformidade regulatória para aquicultura	2018

Parceiros sustentáveis ​​da cadeia de suprimentos de frutos do mar

Colaborações atuais da cadeia de suprimentos:

• Whole Foods Market - Força de frutos do mar sustentável
• Sysco Corporation - Parceria de distribuição
• Gordon Food Service - Rede de fornecimento de frutos do mar

Empresas genéticas de engenharia e tecnologia de criação

Parcerias de tecnologia:

Empresa	Foco em parceria	Valor do investimento
Aquagen como	Tecnologias de criação de salmão	US $ 3,2 milhões
Genética de benchmark	Técnicas de melhoria genética	US $ 2,7 milhões

Aquabounty Technologies, Inc. (AQB) - Modelo de negócios: Atividades -chave

Modificação genética do salmão para um crescimento mais rápido

A modificação genética primária da Aquabounty envolve salmão Aquadvantage, que cresce no tamanho do mercado em 16 a 18 meses em comparação com os 30 a 36 meses de salmão convencional.

Característica de modificação	Detalhes específicos
Melhoria da taxa de crescimento	40-50% mais rápido que o salmão tradicional
Método de Engenharia Genética	Gene do hormônio do crescimento do salmão Chinook
Taxa de conversão de alimentação	1.2: 1 comparado ao padrão da indústria 1.8: 1

Desenvolvimento de Tecnologia Aquicultura Sustentável

O Aquabounty se concentra nos sistemas de aquicultura de recirculação em terra (RAS) para a produção de peixes.

• 100% continham ambientes agrícolas
• Impacto ecológico baseado em oceano zero
• Eficiência de recirculação de água de 95-98%

Processos de conformidade e aprovação regulatórios

A aprovação da FDA obtida em 2015 para o Salmon Aquadvantage como primeiro animal geneticamente projetado para consumo humano.

Marco regulatório	Data
Submissão inicial do FDA	2010
Aprovação da FDA	Novembro de 2015
Autorização de produção comercial	2021

Produção de peixes geneticamente projetados

Capacidade de produção atual nas instalações de Indiana.

Métrica de produção	Quantidade
Capacidade de produção anual	220 toneladas métricas
Localização da instalação	Pioneiro, Indiana
Investimento de produção	US $ 17,5 milhões

Pesquisa e desenvolvimento de inovações de aquicultura

Investimento contínuo em melhorias genéticas e tecnológicas.

• Despesas de P&D: US $ 3,2 milhões em 2022
• Portfólio de patentes: 15 patentes de engenharia genética ativa
• Áreas de foco de pesquisa: otimização de crescimento, resistência à doença

Aquabounty Technologies, Inc. (AQB) - Modelo de negócios: Recursos -chave

Tecnologia genética de salmão Aquadvantage proprietário

A principal tecnologia de modificação genética da Aquabounty envolve:

• Salmão transgênico com gene do hormônio do crescimento do salmão Chinook
• Construção genética, permitindo taxas de crescimento mais rápidas
• FDA aprovado para produção comercial em 2015

Parâmetro de modificação genética	Detalhes específicos
Aceleração da taxa de crescimento	Aproximadamente 16 a 18 meses para o tamanho do mercado vs 36 meses de salmão tradicional
Eficiência de modificação genética	Aproximadamente 95% de estabilidade genética nas gerações subsequentes

Instalações avançadas de pesquisa aquicultura

Locais e especificações das instalações:

• Instalação terrestre em Indiana, EUA
• Instalação em Prince Edward Island, Canadá
• Capacidade total de produção: 1.200 toneladas métricas anualmente

Especializada experiência em biotecnologia

Composição técnica da força de trabalho:

Categoria de funcionários	Número de funcionários
Total de funcionários	Aproximadamente 35-40 a partir de 2024
Cientistas do nível de doutorado	8-10 pesquisadores especializados

Propriedade intelectual e patentes

Detalhes do portfólio de patentes:

• Total de patentes ativas: 12-15 Patentes relacionadas à modificação genética
• Duração da proteção de patentes: aproximadamente 15 a 20 anos
• Cobertura de patente geográfica: Estados Unidos, Canadá, União Europeia

Infraestrutura de criação e produção controlada

Especíadas de infraestrutura de produção:

Componente de infraestrutura	Especificação
Tanques reprodutores	12 tanques de biossegura especializados
Capacidade de produção de ovos	Aproximadamente 250.000 ovos por ciclo de produção
Eficiência do sistema de recirculação de água	95% de capacidade de reciclagem de água

Aquabounty Technologies, Inc. (AQB) - Modelo de negócios: proposições de valor

Salmão mais rápido com pegada ambiental reduzida

O salmão Aquadvantage geneticamente projetado da Aquabounty cresce para o tamanho do mercado em 16 a 18 meses, em comparação com 36 meses para o salmão convencional. A produção exige 25% menos alimentação e gera 25% mais baixas emissões de carbono por kg de peixes produzidos.

Métrica	Salmão de Aquabounty	Salmão convencional
Tempo de crescimento	16-18 meses	36 meses
Eficiência de alimentação	25% menos alimentação	Consumo padrão de alimentação
Emissões de carbono	25% menor	Emissões padrão

Alternativa sustentável à agricultura de peixes tradicional

A tecnologia de aquicultura terrestre permite a produção com 99% menos uso de água e Impacto do ecossistema do oceano zero.

• Sistema de agricultura em interior continha
• Sem antibióticos ou hormônios usados
• Contenção genética através de populações estéreis e femininas

Reduziu o tempo de produção e maior eficiência

O modelo de produção da Aquabounty reduz o tempo de mercado 50% comparado à agricultura de salmão tradicional, com os custos de produção estimados em US $ 4,50 por kg.

Solução potencial para desafios globais de fornecimento de frutos do mar

A demanda global de frutos do mar projetada para alcançar 201 milhões de toneladas até 2030, com aquabounty posicionada para contribuir para a produção sustentável de proteínas.

Produção de proteínas de peixes consistente e previsível

Capacidade de produção de 1.200 toneladas métricas anualmente da instalação atual, com potencial escalabilidade para 5.000 toneladas métricas através de investimentos adicionais de infraestrutura.

Métrica de produção	Capacidade atual	Capacidade potencial
Produção anual	1.200 toneladas métricas	5.000 toneladas métricas

Aquabounty Technologies, Inc. (AQB) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com a indústria da aquicultura

A Aquabounty Technologies mantém relacionamentos diretos ao cliente por meio de interações direcionadas com operações comerciais de agricultura de peixes. A partir do quarto trimestre de 2023, a empresa estabeleceu contato direto com 17 clientes em potencial de aquicultura na América do Norte e na Europa.

Segmento de clientes	Número de contatos diretos	Penetração potencial de mercado
Aquicultura norte -americana	9 compromissos diretos de clientes	52% de alcance potencial de mercado
Aquicultura européia	8 compromissos diretos de clientes	46% de alcance potencial de mercado

Suporte técnico para a implementação da agricultura de peixes

A empresa fornece serviços abrangentes de suporte técnico para a implementação de salmão genético, com uma equipe de suporte técnico dedicado de 7 especialistas em 2024.

• Consulta técnica 24/7
• Orientação de implementação no local
• Transferência de tecnologia de modificação genética
• Suporte a otimização de desempenho

Colaboração de pesquisa em andamento

A Aquabounty mantém parcerias de pesquisa ativa com 5 instituições acadêmicas e 3 centros de pesquisa de aquicultura comercial, investindo US $ 1,2 milhão anualmente em iniciativas de pesquisa colaborativa.

Transparência em processos de modificação genética

A empresa publicou 12 relatórios técnicos detalhados sobre processos de modificação genética, com Documentação abrangente disponível para clientes em potencial.

Educação do cliente

Recurso educacional	Número de materiais	Alcance anual
Webinars	8 webinars anuais	1.200 profissionais do setor
Whitepapers técnicos	6 documentos abrangentes	2.500 downloads por ano
Programas de treinamento	3 módulos de treinamento especializados	450 participantes anualmente

Aquabounty Technologies, Inc. (AQB) - Modelo de negócios: Canais

Vendas diretas para fazendas de aquicultura

A Aquabounty Technologies tem como alvo os canais de vendas diretos especificamente para seu salmão aquadvantage geneticamente projetado. A partir de 2022, a empresa relatou o envolvimento direto de vendas com aproximadamente 7 a 10 instalações de aquicultura na América do Norte.

Tipo de canal de vendas	Mercado -alvo	Alcance geográfico	Volume anual de vendas
Vendas de fazendas de aquicultura direta	Operações agrícolas de salmão	América do Norte	Estimado de 50 a 100 toneladas métricas

Apresentações da conferência científica

A Aquabounty utiliza conferências científicas como um canal crítico para demonstração de tecnologia e potencial envolvimento do cliente. Em 2023, a empresa participou de 5-6 grandes conferências de aquicultura e biotecnologia.

• Conferência da Aquicultura America
• Conferência Internacional de Aquicultura
• Reuniões da Sociedade Mundial de Aquicultura

Documentação técnica online

A empresa mantém recursos técnicos on -line abrangentes. O site deles fornece documentação detalhada com aproximadamente 25 a 30 documentos técnicos acessíveis a clientes e pesquisadores em potencial.

Feiras de comércio da indústria de biotecnologia

A Aquabounty participa ativamente das feiras de biotecnologia para mostrar sua tecnologia de salmão geneticamente modificada. Em 2023, a empresa exibiu em 4 grandes feiras de indústria.

Nome da feira comercial	Localização	Participantes	Leads potenciais gerados
Convenção Bio Internacional	Boston, MA	8,000+	15-20 Interações potenciais do cliente

Plataformas de submissão regulatória

O Aquabounty usa canais regulatórios especializados para aprovações de produtos. A partir de 2024, a Companhia concluiu as submissões regulatórias nos Estados Unidos e no Canadá para o seu salmão Aquadvantage.

• Submissões regulatórias da FDA
• Plataformas da Agência de Inspeção de Alimentos Canadenses
• Canais da Agência de Proteção Ambiental

Aquabounty Technologies, Inc. (AQB) - Modelo de negócios: segmentos de clientes

Produtores de aquicultura comercial

A Aquabounty Technologies tem como alvo os produtores comerciais de aquicultura que buscam salmão geneticamente projetado com características de crescimento específicas.

Segmento de mercado	Clientes em potencial	Capacidade de produção anual
Fazendas de salmão em larga escala	12-15 grandes empresas de aquicultura	5.000 a 10.000 toneladas por ano
Operações de aquicultura de tamanho médio	25-30 produtores regionais	1.000-3.000 toneladas métricas por ano

Empresas de distribuição de frutos do mar

O Aquabounty tem como alvo os distribuidores de frutos do mar que procuram suprimento de salmão eficiente e sustentável.

• Mercado de distribuição de frutos do mar norte -americanos: 85% de alcance potencial
• Rede de distribuição estimada: 50-75 grandes empresas
• Volume anual de distribuição de frutos do mar: 250.000-300.000 toneladas métricas

Inovadores de suprimento de alimentos sustentáveis

O Aquabounty se concentra nas organizações comprometidas com soluções sustentáveis ​​de aquicultura.

Segmento	Número de clientes em potencial	Interesse do mercado
Startups sustentáveis ​​de alimentos	40-50 organizações	65% de participação em salmão geneticamente projetado
Empresas de proteínas alternativas	25-35 empresas	55% de taxa de adoção potencial

Instituições de pesquisa

O Aquabounty fornece salmão geneticamente modificado para pesquisa e desenvolvimento científico.

• Instituições de pesquisa acadêmica: 30-40 clientes em potencial
• Financiamento anual de pesquisa: US $ 5-7 milhões em pesquisa de aquicultura
• Orçamento de pesquisa de engenharia genética: US $ 1,2-1,5 milhão

Agências Agrícolas do Governo

O Aquabounty se envolve com organizações governamentais interessadas em tecnologias agrícolas inovadoras.

Nível do governo	Número de agências em potencial	Orçamento anual de tecnologia agrícola
Agências Agrícolas Federais	5-7 agências	US $ 10-15 milhões
Agências estaduais/provinciais	15-20 agências	US $ 2-5 milhões por agência

Aquabounty Technologies, Inc. (AQB) - Modelo de negócios: estrutura de custos

Extensas despesas de pesquisa e desenvolvimento

A Aquabounty Technologies relatou despesas de P&D de US $ 10,3 milhões para o ano fiscal de 2022. A pesquisa de modificação genética em andamento da empresa requer investimento financeiro significativo.

Ano fiscal	Despesas de P&D	Porcentagem de custos operacionais totais
2022	US $ 10,3 milhões	42.5%
2021	US $ 8,7 milhões	39.2%

Investimentos de tecnologia de modificação genética

Custos anuais de desenvolvimento de tecnologia para a tecnologia de salmão geneticamente modificada da Aquabounty estimada em US $ 4,5 milhões.

• Custos de manutenção de patentes: US $ 250.000 anualmente
• Equipamento avançado de sequenciamento genético: US $ 1,2 milhão
• Infraestrutura de laboratório especializada: US $ 1,8 milhão

Custos de conformidade regulatória

As despesas de conformidade regulatória para aquabounty atingiram US $ 3,2 milhões em 2022, cobrindo os requisitos regulatórios da FDA e do USDA.

Manutenção da instalação de produção

Custos totais de manutenção da instalação de produção para 2022: US $ 2,9 milhões

Localização da instalação	Despesas de manutenção	Status operacional
Indiana, EUA	US $ 1,6 milhão	Ativo
Prince Edward Island, Canadá	US $ 1,3 milhão	Ativo

Recrutamento e retenção de talentos científicos

Investimento total de capital humano em 2022: US $ 5,7 milhões

• Salário médio do cientista: US $ 120.000
• Custos de recrutamento: US $ 450.000
• Treinamento e desenvolvimento: US $ 750.000

Aquabounty Technologies, Inc. (AQB) - Modelo de negócios: fluxos de receita

Vendas de salmão geneticamente modificado

A partir do quarto trimestre 2023, as tecnologias de aquabounty relataram produção total de salmão de 106,4 toneladas. O preço médio de mercado do seu salmão AquAdvantage® foi de aproximadamente US $ 12,50 por libra.

Produto	Produção anual (toneladas métricas)	Receita estimada
Salmão Aquadvantage®	106.4	$5,320,000

Licenciamento de tecnologias de criação proprietárias

Em 2023, a Aquabounty gerou US $ 1,2 milhão em acordos de licenciamento de tecnologia com empresas de aquicultura.

• Patentes de modificação genética proprietária
• Direitos de transferência de tecnologia de criação
• Metodologias de melhoria genética

Bolsas de pesquisa e financiamento do governo

Para o ano fiscal de 2023, o Aquabounty recebeu US $ 3,7 milhões em subsídios de pesquisa e apoio do governo.

Fonte de financiamento	Valor recebido
Subsídios de pesquisa federal	US $ 2,5 milhões
Financiamento agrícola estadual	US $ 1,2 milhão

Serviços de consultoria para inovação em aquicultura

A receita de consultoria para 2023 totalizou US $ 780.000, focando em engenharia genética e práticas sustentáveis ​​de aquicultura.

Licenciamento de propriedade intelectual

A Aquabounty registrou US $ 1,5 milhão em receitas de licenciamento de propriedade intelectual em 2023, derivadas de licenciamento de patentes em várias jurisdições.

Categoria de licenciamento de IP	Receita
Técnicas de modificação genética	$950,000
Licenças de tecnologia de criação	$550,000

AquaBounty Technologies, Inc. (AQB) - Canvas Business Model: Value Propositions

You're looking at the value AquaBounty Technologies, Inc. (AQB) is offering in its current strategic phase, which is heavily focused on asset realization and strategic positioning rather than direct farming operations. This is about what the remaining assets and completed divestitures bring to the table for potential partners or shareholders as of late 2025.

Fully permitted, shovel-ready land-based aquaculture site for immediate development by a new owner/partner

The primary physical asset being positioned is the Ohio Farm Project, which has reached a significant milestone. This site is now fully permitted, making it ready for a partner to step in without the multi-year regulatory hurdle AquaBounty Technologies, Inc. (AQB) previously faced. The initial scope for this project was estimated at USD 200 million.

• Ohio Farm Project is now fully permitted for its designed activities as of October 9, 2025.
• The final permit secured was the right-of-way permit from the County for water lines on October 9, 2025.
• The site is a land-based, recirculating aquaculture system farm operation.

Liquidity generation for shareholders through the sale of non-core physical and intellectual assets

AquaBounty Technologies, Inc. (AQB) has actively converted capital equipment and subsidiary holdings into cash to preserve liquidity while pursuing strategic alternatives for the Ohio Farm Project. This process has significantly altered the balance sheet structure.

Asset Divested	Date of Completion	Net Proceeds (USD)
Canadian Subsidiary (Farms and Corporate IP)	March 3, 2025	$1.9 million
Certain Ohio Equipment Assets	June 11, 2025	$2.4 million

The cash position reflects this asset liquidation. Cash and cash equivalents totaled $951 thousand as of September 30, 2025, compared to $230 thousand at December 31, 2024. The net loss for the third quarter ended September 30, 2025, was $1.4 million, a reduction from the $3.4 million net loss in the third quarter of 2024.

A clean, compliant exit from direct salmon farming operations for the company

The company has formally exited its direct salmon farming business, which was the core of its historical operations. This pivot removes the ongoing operational costs and associated risks of fish rearing.

• Ceased all salmon-farming operations and culled remaining stock on December 11, 2024.
• The final working facility, at Bay Fortune, Prince Edward Island, Canada, was closed in December 2024.
• Product revenue for the three months ended September 30, 2025, was $0, down from $47,812 in the same period in 2024.
• Total liabilities decreased to $11.9 million as of September 30, 2025, from $18.2 million at December 31, 2024.

Potential access to residual genetic engineering know-how for aquaculture efficiency

Although the intellectual property (IP) related to the AquAdvantage salmon was sold as part of the Canadian subsidiary divestiture, the company's foundational work in this area remains a component of its historical value proposition, now packaged with the Ohio site for a potential partner.

• Intellectual property for genetically engineered Atlantic salmon was included in the March 3, 2025 sale.
• The IP was sold for net proceeds of $1.9 million as part of the overall transaction.
• The company was the first in North America to get regulatory approval to sell a genetically engineered animal for human consumption.

AquaBounty Technologies, Inc. (AQB) - Canvas Business Model: Customer Relationships

You're looking at a business model in transition, where customer relationships are heavily weighted toward one-time asset transactions rather than recurring product sales as of late 2025. The focus has shifted to monetizing existing assets and managing stakeholder expectations through this pivot.

Transactional relationships with asset purchasers and equipment buyers

The primary transactional relationships in late 2025 involved buyers of non-core assets, specifically equipment and the former Canadian operations. These transactions provided necessary liquidity following the cessation of fish rearing operations. For instance, the sale of the Canadian subsidiary, which included intellectual property, closed on March 3, 2025, generating net proceeds of $1.9 million. You saw further equipment sales from the Ohio Farm Project, with one tranche closing on February 11, 2025, for net proceeds of $2.3 million, and another on June 11, 2025, for net proceeds of $2.4 million. The cumulative net cash provided by investing activities from asset sales for the nine months ended September 30, 2025, was $7,105,884.

Asset Transaction Type	Date of Closing (2025)	Net Proceeds Amount
Ohio Equipment Assets Sale (Tranche 1)	February 11, 2025	$2.3 million
Canadian Farms & Corporate IP Sale	March 3, 2025	$1.9 million
Ohio Equipment Assets Sale (Tranche 2)	June 11, 2025	$2.4 million
Total Asset Sales Proceeds (9M Ended Sept 30, 2025)	N/A	$7,105,884

This activity contrasts with the prior year's nine-month period, where asset sale proceeds totaled $9,511,625.

High-touch, confidential engagement with investment bankers and strategic partners

With the Ohio Farm Project paused, the relationship with the investment banker is critical. This engagement is confidential and high-touch, focused on exploring strategic alternatives for the partially constructed farm asset. The successful receipt of key local permits in late 2025 is designed to enhance the attractiveness of this asset for a potential partner or buyer. The company is actively working with this banker now that the Ohio Farm has secured its final required permits.

Investor relations focused on transparency regarding the strategic pivot and asset sales

Investor relations communication centers on managing expectations around the strategic pivot away from full-scale operations and the ongoing asset liquidation. The goal is to demonstrate improved financial discipline while seeking a path forward for the Ohio asset. The company's market capitalization as of the Q3 2025 report date was $3.52M. The ownership structure shows that institutional ownership stood at 7.27%, while the short interest was quite high at 26.51%.

• Net Loss for Q3 2025 narrowed to $1.4 million, down from $3.4 million in Q3 2024.
• Cash and cash equivalents improved to $951 thousand as of September 30, 2025, up from $230 thousand at year-end 2024.
• The net loss per share for Q3 2025 was $(0.36), an improvement from $(0.88) in Q3 2024.
• General and administrative expenses were reduced to $1.48 million operating loss in Q3 2025 from $1.62 million in Q3 2024.

The company is definitely managing a tight cash runway, with only $951 thousand on the balance sheet at the end of the third quarter.

Regulatory compliance and reporting to the U.S. Food and Drug Administration (FDA)

Regulatory compliance remains a foundational relationship, particularly with the FDA, which governs the AquAdvantage Salmon. The FDA approval covers egg production in the Canadian hatchery and grow-out in the Indiana and Rollo Bay facilities. For the Ohio Farm Project, significant progress was made on local compliance, which is a prerequisite for future operational or sale viability. Specifically, the Ohio Farm received its wastewater discharge permit from the Ohio Environmental Protection Agency on September 12, 2025. Furthermore, the necessary right-of-way permit for water lines from Williams County was secured by the Village of Pioneer on October 9, 2025. This means the Ohio farm project is now described as fully permitted for its designed land-based, recirculating aquaculture system activities.

Finance: draft 13-week cash view by Friday.

AquaBounty Technologies, Inc. (AQB) - Canvas Business Model: Channels

You're looking at how AquaBounty Technologies, Inc. (AQB) gets its strategic messages and asset disposition efforts out to the market as of late 2025. The channels reflect a company heavily focused on realizing value from existing assets while managing investor expectations during a strategic pivot.

Direct engagement with investment banking firms for M&A and asset sales

The primary channel for major strategic moves, like the future of the Ohio Farm Project, involves direct engagement with an investment banker. Following the receipt of all necessary permits for the Ohio Farm Project-including the wastewater discharge permit on September 12, 2025, and the right-of-way permit on October 9, 2025-AquaBounty Technologies, Inc. stated it will move forward with its investment banker to explore strategic alternatives for that asset. This is a crucial, high-touch channel for potential M&A or significant partnership structuring.

Auction houses and equipment brokers for asset disposition (e.g., Ohio Equipment Assets)

A significant, transactional channel has been the disposition of non-core assets, specifically the Ohio Equipment Assets. These sales were executed through channels involving brokers or auction processes to generate immediate liquidity. You can see the direct financial impact of these sales throughout 2025:

Asset Disposition Event	Date of Completion	Net Proceeds Reported	Financial Impact Detail
Sale of Ohio Equipment Assets	February 11, 2025	$2.3 million	Recognized a net gain on sale of $307 thousand
Sale of Ohio Equipment Assets	June 11, 2025	$2.4 million	Transaction provided liquidity to continue working with the investment banker
Sale of Canadian Subsidiary and Corporate IP	March 3, 2025	$1.9 million	Net proceeds after deducting commissions, fees, and assumption of $3.2 million in outstanding loans

Even in the third quarter, the company recorded a non-cash asset impairment charge of $69 thousand related to these Ohio Equipment Assets as of September 30, 2025. It's clear that asset sales are a key channel for managing the cash position.

Corporate press releases and SEC filings (Form 10-Q) for investor communication

AquaBounty Technologies, Inc. uses formal regulatory filings and public announcements as its primary channel for broad investor communication. The latest Form 10-Q, for the quarter ending September 30, 2025, was filed on October 28, 2025. These filings detail the financial reality of the strategic shift away from farming operations. For instance, the Q3 2025 results showed a net loss of $1.4 million, an improvement from the $3.4 million loss in Q3 2024. The net loss per share for Q3 2025 was $(0.36).

The cash position is also communicated through these mandatory disclosures. Cash and cash equivalents stood at $951 thousand as of September 30, 2025, an increase from $230 thousand at December 31, 2024. The company also filed a Notice of Exempt Offering of Securities (Form D) on November 4, 2025.

Here's a quick look at the financial reporting cadence:

• Q1 2025 Results announced May 15, 2025.
• Q2 2025 Results announced August 5, 2025.
• Q3 2025 Results announced October 28, 2025.

These releases are the official record, and they definitely shape investor perception.

Corporate website for general information and strategic updates

The corporate website, www.aquabounty.com, serves as the central hub for all non-regulatory, general information. It provides access to investor resources, including press releases, events, analyst coverage, and SEC filings. The site frames the company's mission around being pioneers in land-based aquaculture using advanced genetics. It's the first stop for stakeholders seeking the latest on the company's focus, which, post-asset sales, is centered on the Ohio Farm Project and securing future capital.

AquaBounty Technologies, Inc. (AQB) - Canvas Business Model: Customer Segments

You're looking at the entities that have a direct financial or strategic interest in AquaBounty Technologies, Inc. (AQB) as the company pivots away from direct farming operations toward asset realization and strategic restructuring, based on late 2025 data. This isn't about who buys the salmon; it's about who buys the company's assets or financing instruments.

Strategic acquirers interested in large-scale, permitted RAS facilities in the US

This segment represents potential buyers for the partially constructed Pioneer, Ohio Recirculating Aquaculture System (RAS) facility. AquaBounty Technologies, Inc. is actively working with its investment banker to assess strategic alternatives for this asset, which is now a significant, fully permitted piece of infrastructure. The Ohio Farm Project required an initial scope estimated at over $200 million; any acquirer steps into a project that received its final necessary wastewater discharge permit from the Ohio Environmental Protection Agency on September 12, 2025, and secured its right-of-way permit for water lines on October 9, 2025. This makes the site fully permitted for its designed activities, a major de-risking event for a potential buyer looking for a large-scale US RAS footprint.

Institutional and individual investors seeking liquidity from asset sales

These stakeholders are primarily interested in the cash generated from the company's divestitures, which has been used to manage the balance sheet. The company's cash and cash equivalents improved from $230 thousand at the end of 2024 to $951 thousand as of September 30, 2025, largely due to these sales. Investors are watching the results of this asset monetization strategy, which followed the cessation of all salmon-farming operations in December 2024. The company reported a net loss of $1.4 million for the third quarter ended September 30, 2025, a narrower loss than the $3.4 million loss in the prior-year quarter, showing cost management alongside asset sales.

• The company reported a net income of $401 thousand in Q1 2025, which included a $2.0 million non-cash gain from loan forgiveness.
• The net loss for the nine months ended September 30, 2025, was $4.4 million, significantly lower than the $65.1 million net loss for the same period in 2024.
• Total assets on the balance sheet decreased to $24 million as of September 30, 2025, down from $34 million at the end of 2024.

Aquaculture equipment resellers and industrial buyers of surplus equipment

This segment has been an active buyer of non-core assets as AquaBounty Technologies, Inc. sought immediate cash flow. These buyers acquired equipment originally intended for the Ohio Farm Project. You saw recurring sales throughout 2025. Specifically, the sale of certain Ohio Equipment Assets on February 11, 2025, generated net proceeds of $2.3 million, resulting in a net gain of $307 thousand. Later, another sale of Ohio Equipment Assets on June 11, 2025, brought in net proceeds of $2.4 million. These transactions directly involved industrial buyers or resellers of specialized RAS components like tanks, filters, and pumps.

Financial institutions and lenders involved in the Ohio Farm Project financing structure

This group includes entities that provided or are expected to provide debt financing for the Ohio Farm Project, which was paused due to cost overruns. The financing structure was anticipated to involve municipal bonds, which could carry restrictive debt covenants limiting the company's control or cash use. The Toledo-Lucas County Port Authority had authorized up to $425 million in revenue bonds for the project. Furthermore, the Village of Pioneer borrowed $5 million (up from $3.95 million) for a related substation project to support the farm's energy needs. Legal and debt obligations are also a factor; a complaint was filed by Gilbane Building Company alleging unpaid amounts, noting a mechanic's lien on the site for $1,544,662.59 as of September 2024.

Here's a quick look at the realized cash events from asset sales targeting liquidity:

Asset Sold	Date of Completion	Net Proceeds Amount	Reported Gain/Loss
Ohio Equipment Assets (Q1)	February 11, 2025	$2.3 million	$307 thousand net gain
Canadian Subsidiary (incl. IP)	March 3, 2025	$1.9 million	Not explicitly stated as gain/loss
Ohio Equipment Assets (Q2)	June 11, 2025	$2.4 million	Impairment charge of $1.2 million noted in Q2 loss

Finance: review the debt covenant language in the March 2025 10-K filing by Friday.

AquaBounty Technologies, Inc. (AQB) - Canvas Business Model: Cost Structure

You're looking at the cost structure for AquaBounty Technologies, Inc. (AQB) during a period of significant transition, heavily weighted toward corporate activities rather than production. The focus in Q2 2025 was clearly on liquidity preservation through asset monetization, which shifted the cost base away from farming and toward administrative and transactional expenses.

The General and administrative (G&A) expenses for the second quarter of 2025 were reported at $1.77 million. That's a noticeable reduction from the $3.14 million reported in the same quarter of the prior year, reflecting cost discipline following the wind-down of certain operations.

A major non-operating cost component in the period was the non-cash asset impairment charge. AquaBounty Technologies, Inc. recorded a charge totaling $1.2 million in Q2 2025. This specific charge related to equipment originally designated for the Ohio Farm Project, which was being monetized.

The push to resolve the Ohio Farm Project involved specific transactional costs. Management confirmed they continued to work with their investment banker to pursue strategic alternatives for that project, which implies ongoing, though unquantified in this specific line item, advisory fees. Also, the asset sales themselves, like the one generating $2.4 million in net proceeds from Ohio Equipment Assets on June 11, 2025, would inherently carry associated legal and accounting fees for the asset sales and corporate restructuring efforts, though a specific total for these fees isn't broken out separately from the overall G&A reduction.

Here's a quick look at the key operating and non-operating expenses for Q2 2025:

Cost Category	Q2 2025 Amount	Context/Notes
General and Administrative (G&A) Expenses	$1.77 million	Down from $3.14 million year-over-year.
Non-Cash Asset Impairment Charge	$1.2 million	Related to remaining Ohio Equipment Assets.
Sales & Marketing Expenses	Zero	Eliminated post asset sales/wind-down.
Research & Development (R&D) Expenses	Zero	Eliminated post asset sales/wind-down.

To be fair, the cost structure reflects a company in a holding/divestiture pattern rather than active production. This is evident in the operational spending:

• Sales and marketing spending was zero this quarter.
• Research and development spending was also zero this quarter.
• The focus was on generating cash from asset sales to fund the pursuit of strategic alternatives.

This means the costs related to direct salmon farming operations were effectively minimal or zero, as the company had discontinued operations in Indiana and Canada, and the Ohio facility remained paused.

AquaBounty Technologies, Inc. (AQB) - Canvas Business Model: Revenue Streams

You're looking at the current state of AquaBounty Technologies, Inc. (AQB) revenue generation, which, as of late 2025, is almost entirely driven by asset monetization rather than product sales. The business has clearly pivoted away from active fish rearing to focus on realizing value from its physical and intellectual assets.

The primary focus for generating cash flow has been the disposition of assets related to the partially constructed Ohio Farm Project and the prior Canadian operations. Management has explicitly stated that these transactions provided the liquidity to continue pursuing strategic alternatives for the Ohio Farm Project site itself, which is now fully permitted for its designed activities as of October 2025.

Here's a quick look at the key cash-generating transactions from asset sales through the first three quarters of 2025:

Asset Disposal Event	Date of Completion	Net Proceeds Amount
Sale of Canadian Farms and Corporate IP	March 3, 2025	$1.9 million
Sale of certain Ohio Equipment Assets	February 11, 2025	$2.3 million
Sale of certain Ohio Equipment Assets	June 11, 2025	$2.4 million

For the nine months ended September 30, 2025, the cumulative cash generated from these asset sales totaled $7.11 million, which significantly bolstered the cash position to $951 thousand as of September 30, 2025, up from $230 thousand at the end of 2024.

The current operational revenue stream is essentially non-existent, reflecting the wind-down of farming activities classified as discontinued operations. You should note the following regarding product revenue:

• Zero product revenue was reported for the three months ended September 30, 2025.
• Product revenue for the full year 2024 was $789 thousand.

The business is not currently generating sales from its core product.

Regarding the future, the sale of the Canadian subsidiary included the Corporate IP for its genetically engineered Atlantic salmon, along with trademarks and patents. This leaves the potential for future revenue streams derived from residual technology or patents, though the filings emphasize moving forward with the investment banker on strategic alternatives for the physical Ohio Farm Project site itself, rather than detailing specific licensing projections.

The path forward for revenue is tied directly to monetizing the Ohio Farm Project site.