AquaBounty Technologies (NASDAQ: AQB) is an aquaculture company that historically developed and produced genetically engineered Atlantic salmon using recirculating aquaculture system (RAS) technology. The company generated revenue through salmon sales from land-based grow-out farms. As of the 10-K filed March 31, 2026, AquaBounty has sold its core operating assets: the Indiana grow-out farm was sold in July 2024, the Canadian broodstock farms and all corporate intellectual property (including patents and trademarks for the GE Atlantic salmon) were sold in March 2025, and equipment from the paused Ohio Farm Project has been sold on a recurring basis through 2024 and 2025. The company recorded impairment charges of $14.4 million and $129.8 million in FY2025 and FY2024, respectively. Its primary remaining asset is the Ohio Farm Project land and equipment classified as Assets Held for Sale as of December 31, 2025. AquaBounty carries a going concern qualification, has a history of net losses from incorporation through December 31, 2025, and does not pay dividends. Corporate headquarters is in Harvard, Massachusetts.

Revenue model

Historically transactional, from direct salmon sales at grow-out farms. As of the 10-K filed March 31, 2026, ongoing revenue consists primarily of asset liquidation proceeds from equipment sales. No recurring product revenue stream remains after the sale of the Indiana Farm (July 2024) and Canadian Farms with Corporate IP (March 2025).

Products and services

Genetically engineered Atlantic salmon (GE Atlantic salmon) produced via recirculating aquaculture system (RAS) farms. The GE Atlantic salmon used a licensed transgene obtained in 1996 that produces growth rates faster than conventional salmon. All intellectual property, patents, and trademarks for this product were sold in March 2025. Ohio Farm Project equipment assets are being sold on an ongoing basis as of the filing date.

Customers and end markets

The filing excerpts do not specify named customers or customer concentration data. End market was farmed Atlantic salmon for food consumption.

Value-chain role

Vertically integrated land-based salmon producer: broodstock management, grow-out farming, and genetic IP development. Following the March 2025 IP and Canadian farm sale, AquaBounty no longer holds production or IP assets for its core product.

Geographic exposure

Operations historically in the United States (Indiana grow-out farm, Ohio Farm Project in Pioneer, Ohio) and Canada (broodstock farms in Prince Edward Island). Corporate headquarters in Harvard, Massachusetts (approximately 2,000 square feet, three-year lease). As of the 10-K filed March 31, 2026, Canadian operations have been divested.

Source: SEC 10-K, filed 2026-03-31

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