Aquabounty technologies announces third quarter 2023 financial results

Maynard, massachusetts--(newsfile corp. - november 7, 2023) - aquabounty technologies, inc. (nasdaq: aqb) ("aquabounty" or the "company"), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced the company's financial results for the third quarter and nine months ended september 30, 2023. third quarter 2023 highlights and recent developments generated $733 thousand in product revenue in the third quarter, a year-over-year increase of 12% as compared to $653 thousand in the third quarter of 2022; net loss in the third quarter of 2023 was $6.1 million, as compared to $5.4 million in the third quarter of 2022; cash and cash equivalents and restricted cash totaled $17.8 million as of september 30, 2023, as compared to $102.6 million as of december 31, 2022; and entered into a memorandum of understanding with noble salmon to develop a salmon farm in the country of georgia.
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