0001603978-23-000036 | 10-Q | XBRL Viewer | Aquabounty Technologies INC

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Risks and Uncertainties (Narrative) (Details) - Credit Concentration Risk [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Cash equivalent investment balance	$ 0	$ 10,600
Canada [Member]
Concentration Risk [Line Items]
Cash in Canadian bank accounts	$ 436	$ 518

Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

8. Leases

Lease expense for the six months ended June 30, 2023 and 2022, amounted to $44 thousand and $43 thousand, respectively. The weighted average remaining lease term of the Company’s operating leases was 26 years. Lease payments included in operating cash flows totaled $45 thousand and $42 thousand for the six months ended June 30, 2023 and 2022, respectively. The table below summarizes the outstanding lease liabilities at June 30, 2023 and December 31, 2022:



	Lease Liability
		June 30, 2023		December 31, 2022
Total leases	$	205,565	$	224,058
Less: current portion		(4,586)		(20,831)
Long-term leases	$	200,979	$	203,227

Remaining payments under leases are as follows:


Year		Amount
2023 remaining	$	8,486
2024		17,481
2025		18,006
2026		18,546
2027		19,103
Thereafter		564,225
Total lease payments		645,847
Less: imputed interest		(440,282)
Total operational lease liabilities	$	205,565

Nature of Business and Organization	6 Months Ended
Nature of Business and Organization	Jun. 30, 2023
Nature of Business and Organization [Abstract]
Nature of Business and Organization	1. Nature of business and organization AquaBounty Technologies, Inc. (the “Parent” and, together with its wholly owned subsidiaries, the “Company”) was incorporated in December 1991 in the State of Delaware for the purpose of conducting research and development of the commercial viability of a group of proteins commonly known as antifreeze proteins. In 1996, the Parent obtained the exclusive licensing rights for a gene construct (transgene) used to create a breed of farm-raised Atlantic salmon that exhibit growth rates that are substantially faster than conventional Atlantic salmon. In 2015, the Parent obtained regulatory approval from the U.S. Food and Drug Administration for the production and sale of its genetically engineered AquAdvantage salmon product (“GE Atlantic salmon”) in the United States and in 2016, the Parent obtained regulatory approval from Health Canada for the production and sale of its GE Atlantic salmon product in Canada. In 2021, the Parent obtained regulatory approval from the National Biosafety Technical Commission for the sale of its GE Atlantic salmon product in Brazil. In 2021, the Company began harvesting and selling its GE Atlantic salmon in the United States and Canada.

Stockholders' Equity (Restricted Stock Activity) (Details) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Shares
Beginning balance \| shares	199,454
Granted \| shares	785,417
Vested \| shares	(253,925)
Forfeited \| shares	(19,878)
Ending balance \| shares	711,068
Weighted average grant date fair value
Beginning balance \| $ / shares	$ 1.86
Granted \| $ / shares	0.53
Vested \| $ / shares	1.27
Forfeited \| $ / shares	1.34
Ending balance \| $ / shares	$ 0.62

Inventory (Schedule of Inventory) (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Inventory, net	$ 2,353,616	$ 2,276,592
Feed, net [Member]
Inventory [Line Items]
Inventory, net	298,608	366,957
Eggs And Fry [Member]
Inventory [Line Items]
Inventory, net	62,980	22,140
Fish In process [Member]
Inventory [Line Items]
Inventory, net	1,802,187	1,869,387
Fish For Sale [Member]
Inventory [Line Items]
Inventory, net	$ 189,841	$ 18,108

Debt (Principal Payments Due on Long-term Debt) (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Estimated principal payments remaining on debt outstanding
2023 remaining	$ 2,083,332
2024	736,916
2025	836,570
2026	804,550
2027	814,531
Thereafter	3,615,756
Total	$ 8,891,655	$ 8,725,405

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies [Abstract]

Commitments and Contingencies

10. Commitments and contingencies

The Company recognizes and discloses commitments when it enters into executed contractual obligations with other parties. The Company accrues contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.

The Company is subject to legal proceedings and claims arising in the normal course of business. Management believes that final disposition of any such matters existing at June 30, 2023, will not have a material adverse effect on the Company’s financial position or results of operations.

Inventory (Tables)

6 Months Ended

Jun. 30, 2023

Inventory [Abstract]

Schedule of Inventory


	June 30, 2023		December 31, 2022
Feed	$	298,608		366,957
Eggs and fry		62,980		22,140
Fish in process		1,802,187		1,869,387
Fish for sale		189,841		18,108
Inventory	$	2,353,616		2,276,592

Inventory

6 Months Ended

Jun. 30, 2023

Inventory [Abstract]

Inventory

5. Inventory

Major classifications of inventory are summarized as follows:


	June 30, 2023		December 31, 2022
Feed	$	298,608		366,957
Eggs and fry		62,980		22,140
Fish in process		1,802,187		1,869,387
Fish for sale		189,841		18,108
Inventory	$	2,353,616		2,276,592

Risks and Uncertainties

6 Months Ended

Jun. 30, 2023

Risks and Uncertainties [Abstract]

Risks and Uncertainties

4. Risks and uncertainties

The Company is subject to risks and uncertainties common in the biotechnology and aquaculture industries. Such risks and uncertainties include, but are not limited to: (i) results from current and planned product development studies and trials; (ii) decisions made by the FDA or similar regulatory bodies in other countries with respect to approval and commercial sale of any of the Company’s proposed products; (iii) the commercial acceptance of any products approved for sale and the Company’s ability to produce, distribute, and sell for a profit any products approved for sale; (iv) the Company’s ability to obtain the necessary patents and proprietary rights to effectively protect its technologies; and (v) the outcome of any collaborations or alliances entered into by the Company.

Concentration of credit risk

Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents. This risk is mitigated by the Company’s policy of maintaining all balances with highly rated financial institutions and investing cash equivalents with maturities of less than 90 days. The Company’s cash balances may at times exceed insurance limitations. The Company holds cash balances in bank accounts located in Canada to fund its local operations. These amounts are subject to foreign currency exchange risk, which is minimized by the Company’s policy to limit the balances held in these accounts. Balances in Canadian bank accounts totaled $436 thousand and $518 thousand as of June 30, 2023 and December 31, 2022, respectively. The Company also holds cash equivalent investments in a highly liquid investment account at a major financial institution. As of June 30, 2023 and December 31, 2022 the cash equivalent investment balance was $0 and $10.6 million, respectively.

Basis of Presentation (Schedule of Customer Concentration of Revenue) (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Concentration Risk, Percentage	100.00%	100.00%	100.00%	100.00%
Customer A [Member]
Concentration Risk, Percentage	45.00%	39.00%	48.00%	37.00%
Customer B [Member]
Concentration Risk, Percentage	23.00%	18.00%	23.00%	19.00%
Customer C [Member]
Concentration Risk, Percentage	12.00%	14.00%	13.00%	12.00%
All other customers [Member]
Concentration Risk, Percentage	20.00%	29.00%	16.00%	32.00%

Going Concern Uncertainty

6 Months Ended

Jun. 30, 2023

Going Concern Uncertainty [Abstract]

Going Concern Uncertainty

2. Going Concern Uncertainty

Since inception, the Company has incurred cumulative operating losses and negative cash flows from operations and expects that this will continue for the foreseeable future. As of June 30, 2023, the Company has $43.8 million in cash and cash equivalents, and restricted cash, a significant portion of which is required to fund its current liabilities and other contractual obligations.

The Company’s ability to continue as a going concern is dependent upon its ability to raise additional capital and there can be no assurance that such capital will be available in sufficient amounts or on terms acceptable to the Company. This raises substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the accompanying condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and do not include any adjustments that might result from the outcome of this uncertainty.

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net loss	$ (12,994,814)	$ (10,647,768)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,066,476	988,292
Share-based compensation	302,825	318,608
Other non-cash charge	9,408	14,860
Changes in operating assets and liabilities:
Inventory	(74,789)	(661,090)
Prepaid expenses and other assets	(1,225,343)	(2,883,505)
Accounts payable and accrued liabilities	748,443	1,705,335
Accrued employee compensation	(78,492)	(91,140)
Net cash used in operating activities	(12,246,286)	(11,256,408)
Investing activities
Purchases of and deposits on property, plant and equipment	(46,586,998)	(30,472,704)
Maturities of marketable securities		120,047,915
Purchases of marketable securities		(47,621,291)
Other investing activities	(3,263)	12,500
Net cash (used in) provided by investing activities	(46,590,261)	41,966,420
Financing activities
Proceeds from issuance of debt	394,156	42,338
Repayment of term debt	(359,704)	(318,600)
Proceeds from the exercise of stock options and warrants		1,538
Net cash provided by (used in) financing activities	34,452	(274,724)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	5,818	(1,387)
Net change in cash, cash equivalents and restricted cash	(58,796,277)	30,433,901
Cash, cash equivalents and restricted cash at beginning of period	102,638,557	89,454,988
Total cash, cash equivalents and restricted cash	43,842,280	119,888,889
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet:
Cash and cash equivalents	42,842,280	118,888,889
Restricted cash	1,000,000	1,000,000
Total cash, cash equivalents and restricted cash	43,842,280	119,888,889
Supplemental disclosure of cash flow information and non-cash transactions:
Interest paid in cash	124,430	141,490
Property and equipment included in accounts payable and accrued liabilities	$ 18,682,066	$ 3,758,842

Nature of Business and Organization (Policy)	6 Months Ended
Nature of Business and Organization (Policy)	Jun. 30, 2023
Nature of Business and Organization [Abstract]
Nature of Business and Organization	1. Nature of business and organization AquaBounty Technologies, Inc. (the “Parent” and, together with its wholly owned subsidiaries, the “Company”) was incorporated in December 1991 in the State of Delaware for the purpose of conducting research and development of the commercial viability of a group of proteins commonly known as antifreeze proteins. In 1996, the Parent obtained the exclusive licensing rights for a gene construct (transgene) used to create a breed of farm-raised Atlantic salmon that exhibit growth rates that are substantially faster than conventional Atlantic salmon. In 2015, the Parent obtained regulatory approval from the U.S. Food and Drug Administration for the production and sale of its genetically engineered AquAdvantage salmon product (“GE Atlantic salmon”) in the United States and in 2016, the Parent obtained regulatory approval from Health Canada for the production and sale of its GE Atlantic salmon product in Canada. In 2021, the Parent obtained regulatory approval from the National Biosafety Technical Commission for the sale of its GE Atlantic salmon product in Brazil. In 2021, the Company began harvesting and selling its GE Atlantic salmon in the United States and Canada.

Leases (Remaining Payments Under Leases) (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023 remaining	$ 8,486
2024	17,481
2025	18,006
2026	18,546
2027	19,103
Thereafter	564,225
Total lease payments	645,847
Less: imputed interest	(440,282)
Total operating lease liabilities	$ 205,565	$ 224,058

Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment


	June 30, 2023		December 31, 2022
Land	$	2,974,834	$	2,968,561
Building and improvements		15,707,344		15,535,904
Construction in process		133,079,715		78,806,762
Equipment		17,777,275		17,259,301
Office furniture and equipment		222,429		258,972
Vehicles		108,170		106,074
Total property and equipment	$	169,869,767	$	114,935,574
Less accumulated depreciation and amortization		(9,695,280)		(8,649,388)
Property, plant and equipment, net	$	160,174,487	$	106,286,186

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

6. Property, plant and equipment

Major classifications of property, plant and equipment are summarized as follows:


	June 30, 2023		December 31, 2022
Land	$	2,974,834	$	2,968,561
Building and improvements		15,707,344		15,535,904
Construction in process		133,079,715		78,806,762
Equipment		17,777,275		17,259,301
Office furniture and equipment		222,429		258,972
Vehicles		108,170		106,074
Total property and equipment	$	169,869,767	$	114,935,574
Less accumulated depreciation and amortization		(9,695,280)		(8,649,388)
Property, plant and equipment, net	$	160,174,487	$	106,286,186

Depreciation expense was $1.1 million and $975 thousand, for the six months ended June 30, 2023 and 2022, respectively.

As of June 30, 2023, construction in process included $127.2 million, $4.0 million, and $1.9 million for construction related to the Ohio, Rollo Bay and Indiana farm sites, respectively. The Company is contractually committed for an additional $26.1 million as of June 30, 2023 for these projects.

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues
Product revenues	$ 788,430	$ 1,069,706	$ 1,186,276	$ 2,032,587
Costs and expenses
Product costs	3,790,878	3,250,106	7,350,118	6,525,796
Sales and marketing	194,254	349,917	392,539	597,489
Research and development	178,394	208,292	301,311	375,481
General and administrative	3,067,533	2,831,930	6,068,015	5,208,166
Total costs and expenses	7,231,059	6,640,245	14,111,983	12,706,932
Operating loss	(6,442,629)	(5,570,539)	(12,925,707)	(10,674,345)
Other expense
Interest expense	(65,789)	(74,694)	(132,063)	(149,982)
Other (expense) income, net	(328)	109,191	62,956	176,559
Total other (expense) income	(66,117)	34,497	(69,107)	26,577
Net loss	(6,508,746)	(5,536,042)	(12,994,814)	(10,647,768)
Other comprehensive income (loss):
Foreign currency translation gain (loss)	111,346	(153,602)	115,773	(70,697)
Unrealized gain on marketable securities		121,796		7,731
Total other comprehensive income (loss)	111,346	(31,806)	115,773	(62,966)
Comprehensive loss	$ (6,397,400)	$ (5,567,848)	$ (12,879,041)	$ (10,710,734)
Net Loss Per Share, Basic	$ (0.09)	$ (0.08)	$ (0.18)	$ (0.15)
Net Loss Per Share, Diluted	$ (0.09)	$ (0.08)	$ (0.18)	$ (0.15)
Weighted average number of Common Shares -
Weighted Average Number of Shares Outstanding, Basic	71,344,025	71,068,671	71,256,782	71,036,562
Weighted Average Number of Shares Outstanding, Diluted	71,344,025	71,068,671	71,256,782	71,036,562

Stockholders' Equity (Narrative) (Details) - USD ($)	6 Months Ended
Stockholders' Equity (Narrative) (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Stockholders' Equity
Intrinsic value of exercisable options	$ 0		$ 0
Share-based compensation	$ 302,825	$ 318,608
Class of Warrant or Right, Outstanding	0		418,441
Restricted Stock [Member]
Stockholders' Equity
Granted	785,417
Share-based compensation expense	$ 225,000	230,000
Unearned share-based compensation expense in future periods	$ 354,000
Unearned share-based compensation earn period	2 years
Stock Options [Member]
Stockholders' Equity
Granted	732,966
Unearned share-based compensation expense in future periods	$ 329,000
Unearned share-based compensation earn period	2 years
Intrinsic value of options outstanding	$ 0		$ 0
Share-based compensation	$ 78,000	$ 88,000
Share-based Compensation
Exercisable term	10 years
Minimum [Member] \| Stock Options [Member]
Share-based Compensation
Award vesting period	1 year
Maximum [Member] \| Stock Options [Member]
Share-based Compensation
Award vesting period	3 years
2006 Equity Incentive Plan [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	1,535,703
2016 Equity Incentive Plan, Additional Grants [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	1,362,607
2016 Equity Incentive Plan [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	711,068
Common Stock [Member] \| Warrants [Member]
Stockholders' Equity
Expiration date	Jan. 17, 2023

Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt [Abstract]

Terms and Conditions of Long-term Debt Outstanding


	Interest ‎rate	Monthly ‎repayment	Maturity ‎date	June 30, 2023		December 31, 2022
ACOA AIF Grant	0%	Royalties	-	$	2,167,437	$	2,119,476
ACOA term loan #1	0%	C$3,120	Feb 2027		103,635		115,158
ACOA term loan #2	0%	C$4,630	Sep 2029		262,039		276,743
ACOA term loan #3	0%	C$6,945	Dec 2025		157,227		184,500
Kubota Canada Ltd	0%	C$1,142	Jan 2025		16,381		21,077
DFO term loan	0%	C$16,865	Jan 2034		1,281,556		854,885
Finance PEI term loan	4%	C$16,313	Nov 2023		1,753,766		1,752,547
First Farmers Bank & Trust term loan	5.375%	$56,832	Oct 2028		3,149,614		3,401,019
Total debt				$	8,891,655	$	8,725,405
less: debt issuance costs					(44,431)		(52,065)
less: current portion					(2,406,147)		(2,387,231)
Long-term debt, net				$	6,441,077	$	6,286,109

Principal Payments Due on Long-term Debt


	Total
2023 remaining	$	2,083,332
2024		736,916
2025		836,570
2026		804,550
2027		814,531
Thereafter		3,615,756
Total	$	8,891,655

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Leases (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Lease expense	$ 44	$ 43
Weighted average remaining lease term	26 years
Lease payment	$ 45	$ 42

Leases (Operating Lease Obligations And Remaining Payments) (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Lease Obligations [Abstract]
Lease Liability	$ 205,565	$ 224,058
Lease Liability - Less: current portion	(4,586)	(20,831)
Lease Liability - Long-term leases	$ 200,979	$ 203,227

Basis of Presentation (Schedule of Impact of Potentially Dilutive Securities) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock Options [Member]
Potentially dilutive securities	978,350	869,683	909,612	800,930
Warrants [Member]
Potentially dilutive securities		418,441	36,989	418,441
Unvested Restricted Shares [Member]
Potentially dilutive securities	531,996	185,611	393,368	145,440

Going Concern Uncertainty (Narrative) (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Going Concern Uncertainty [Abstract]
Cash and cash equivalents	$ 43,842,280	$ 102,638,557	$ 119,888,889	$ 89,454,988

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 169,869,767	$ 114,935,574
Less accumulated depreciation and amortization	(9,695,280)	(8,649,388)
Property, plant and equipment, net	160,174,487	106,286,186
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	2,974,834	2,968,561
Building And Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	15,707,344	15,535,904
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	133,079,715	78,806,762
Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	17,777,275	17,259,301
Office Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	222,429	258,972
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 108,170	$ 106,074

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 42,842,280	$ 101,638,557
Inventory	2,353,616	2,276,592
Prepaid expenses and other current assets	3,375,949	2,133,583
Total current assets	48,571,845	106,048,732
Property, plant and equipment, net	160,174,487	106,286,186
Right of use assets, net	205,565	222,856
Intangible assets, net	211,287	218,139
Restricted cash	1,000,000	1,000,000
Other assets	52,793	64,859
Total assets	210,215,977	213,840,772
Current liabilities:
Accounts payable and accrued liabilities	20,875,113	12,000,592
Accrued employee compensation	943,248	1,021,740
Current debt	2,406,147	2,387,231
Other current liabilities	4,586	20,830
Total current liabilities	24,229,094	15,430,393
Long-term lease obligations	200,979	203,227
Long-term debt, net	6,441,077	6,286,109
Total liabilities	30,871,150	21,919,729
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value, 150,000,000 shares authorized at June 30, 2023 and December 31, 2022; 71,345,649 and 71,110,713 shares outstanding at June 30, 2023 and December 31, 2022, respectively	71,346	71,111
Additional paid-in capital	385,691,274	385,388,684
Accumulated other comprehensive loss	(401,002)	(516,775)
Accumulated deficit	(206,016,791)	(193,021,977)
Total stockholders’ equity	179,344,827	191,921,043
Total liabilities and stockholders’ equity	$ 210,215,977	$ 213,840,772

Debt

6 Months Ended

Jun. 30, 2023

Debt [Abstract]

Debt

7. Debt

The current material terms and conditions of debt outstanding are as follows:


	Interest ‎rate	Monthly ‎repayment	Maturity ‎date	June 30, 2023		December 31, 2022
ACOA AIF Grant	0%	Royalties	-	$	2,167,437	$	2,119,476
ACOA term loan #1	0%	C$3,120	Feb 2027		103,635		115,158
ACOA term loan #2	0%	C$4,630	Sep 2029		262,039		276,743
ACOA term loan #3	0%	C$6,945	Dec 2025		157,227		184,500
Kubota Canada Ltd	0%	C$1,142	Jan 2025		16,381		21,077
DFO term loan	0%	C$16,865	Jan 2034		1,281,556		854,885
Finance PEI term loan	4%	C$16,313	Nov 2023		1,753,766		1,752,547
First Farmers Bank & Trust term loan	5.375%	$56,832	Oct 2028		3,149,614		3,401,019
Total debt				$	8,891,655	$	8,725,405
less: debt issuance costs					(44,431)		(52,065)
less: current portion					(2,406,147)		(2,387,231)
Long-term debt, net				$	6,441,077	$	6,286,109

Estimated principal payments remaining on debt outstanding are as follows:


	Total
2023 remaining	$	2,083,332
2024		736,916
2025		836,570
2026		804,550
2027		814,531
Thereafter		3,615,756
Total	$	8,891,655

In September 2020, the Canadian Subsidiary entered into a Contribution Agreement with the Department of Fisheries and Ocean's Atlantic Fisheries Fund, whereby it is eligible to receive up to C$1.9 million ($1.4 million) to finance new equipment for its Rollo Bay farm (the “DFO Term Loan”). On March 28, 2023, the Canadian Subsidiary borrowed an additional C$539,718 ($394,156) under the DFO Term Loan. Borrowings are interest free and monthly repayments commence in August 2024, with maturity in January 2034.

In August 2020, the Indiana Subsidiary entered into a term loan agreement with First Farmers Bank and Trust (“FFBT”) in the amount of $4 million, which is secured by the assets of the Indiana subsidiary and a corporate guarantee. The agreement contains certain financial and non-financial covenants, which if not met, could result in an event of default pursuant to the terms of the loan. At June 30, 2023, the Indiana subsidiary was in compliance with its loan covenants.

The Company recognized interest expense of $132 thousand and $150 thousand for the six months ended June 30, 2023 and 2022, respectively, on its interest-bearing debt.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
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-Paragraph 1B
-Subparagraph (h)
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+ Details

Basis of Presentation (Policy)

6 Months Ended

Jun. 30, 2023

Basis of Presentation [Abstract]

Consolidation

The unaudited interim condensed consolidated financial statements include the accounts of AquaBounty Technologies, Inc. and its wholly owned direct subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation.

Basis of Presentation

The unaudited interim condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”) consistent with those applied in, and should be read in conjunction with, the Company’s audited financial statements and related notes for the year ended December 31, 2022. The unaudited interim condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s financial position as of June 30, 2023, results of operations and cash flows for the interim periods presented, and are not necessarily indicative of results for subsequent interim periods or for the full year. The unaudited interim condensed consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements, as allowed by the relevant U.S. Securities and Exchange Commission (“SEC”) rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading.

Inventories

Inventories are mainly comprised of feed, eggs, fry, fish in process and fish for sale. Fish in process inventory is a biological asset that is measured based on the estimated biomass of fish on hand. The Company has established a standard procedure to estimate the biomass of fish on hand using counting and sampling techniques. The Company measures inventory at the lower of cost or net realizable value (“NRV”), where NRV is defined as the estimated market price, less the estimated costs of processing, packaging and transportation. The Company considers fish that has been harvested and transported from its farm to be fish for sale.

Revenue Recognition

Revenue recognition

The Company is comprised of one reporting segment and generates revenue from the sale of its products. Revenue is recognized when the customer takes physical control of the goods, in an amount that reflects the consideration that the Company expects to receive in exchange for the goods. Revenue excludes any sales tax collected and includes any estimate of future credits.

During the period ended June 30, 2023, the Company recognized the following product revenue:


	Three Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	754,310	$	-	$	754,310
Non-GE Atlantic salmon eggs		-		-		-
Non-GE Atlantic salmon fry				33,527		33,527
Other revenue		-		593		593
Total Revenue	$	754,310	$	34,120	$	788,430


	Six Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	1,146,738	$	-	$	1,146,738
Non-GE Atlantic salmon eggs		-		730		730
Non-GE Atlantic salmon fry				34,257		34,257
Other revenue		-		4,551		4,551
Total Revenue	$	1,146,738	$	39,538	$	1,186,276

During the period ended June 30, 2022, the Company recognized the following product revenue:


	Three Months Ended June 30, 2022
		U.S.		Canada		Total
GE Atlantic salmon	$	812,415	$	207,854	$	1,020,269
Non-GE Atlantic salmon eggs		-		46,692		46,692
Non-GE Atlantic salmon fry		-		(8,712)		(8,712)
Other revenue		-		11,457		11,457
Total Revenue	$	812,415	$	257,291	$	1,069,706


	Six Months Ended June 30, 2022
		U.S.		Canada		Total
GE Atlantic salmon	$	1,601,392	$	339,714	$	1,941,106
Non-GE Atlantic salmon eggs		-		46,692		46,692
Non-GE Atlantic salmon fry		-		33,095		33,095
Other revenue		-		11,694		11,694
Total Revenue	$	1,601,392	$	431,195	$	2,032,587

During the period ended June 30, 2023 and 2022, the Company had the following customer concentration of revenue:


	Three Months Ended June 30,
	2023	2022
Customer A	45%	39%
Customer B	23%	18%
Customer C	12%	14%
All other	20%	29%
Total of all customers	100%	100%


	Six Months Ended June 30,
	2023	2022
Customer A	48%	37%
Customer B	23%	19%
Customer C	13%	12%
All other	16%	32%
Total of all customers	100%	100%

Net Loss Per Share

Net loss per share

Basic and diluted net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Basic net loss per share is based solely on the number of shares of common stock outstanding during the year. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise or vesting of equity instruments with an exercise price less than the fair value of the common stock. Since

the Company is reporting a net loss for all periods presented, all potential shares of common stock are considered anti-dilutive and are excluded from the calculation of diluted net loss per share.

The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive:



	Three Months Ended June 30,
Weighted Average Outstanding	2023	2022
Stock options	978,350	869,683
Warrants	-	418,441
Unvested stock awards	531,996	185,611



	Six Months Ended June 30,
Weighted Average Outstanding	2023	2022
Stock options	909,612	800,930
Warrants	36,989	418,441
Unvested stock awards	393,368	145,440

Accounting Pronouncements

Management does not expect any recently issued, but not yet effective, accounting standards to have a material effect on its results of operations or financial condition

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income Taxes (Narrative) (Details) - USD ($)	6 Months Ended	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2023
Tax Credit Carryforward [Line Items]
Unrecognized income tax benefits	$ 0
Income Tax Expense (Benefit)	$ 0
Forecast [Member]
Tax Credit Carryforward [Line Items]
Effective tax rate		0.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Basis of Presentation (Schedule of Product Information) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues	$ 788,430	$ 1,069,706	$ 1,186,276	$ 2,032,587
U.S. [Member]
Revenues	754,310	812,415	1,146,738	1,601,392
Canada [Member]
Revenues	34,120	257,291	39,538	431,195
GE Atlantic salmon [Member]
Revenues	754,310	1,020,269	1,146,738	1,941,106
GE Atlantic salmon [Member] \| U.S. [Member]
Revenues	754,310	812,415	1,146,738	1,601,392
GE Atlantic salmon [Member] \| Canada [Member]
Revenues		207,854		339,714
Non-GE Atlantic salmon eggs [Member]
Revenues		46,692	730	46,692
Non-GE Atlantic salmon eggs [Member] \| Canada [Member]
Revenues		46,692	730	46,692
Non-GE Atlantic salmon fry [Member]
Revenues	33,527	(8,712)	34,257	33,095
Non-GE Atlantic salmon fry [Member] \| Canada [Member]
Revenues	33,527	(8,712)	34,257	33,095
Other Revenue [Member]
Revenues	593	11,457	4,551	11,694
Other Revenue [Member] \| Canada [Member]
Revenues	$ 593	$ 11,457	$ 4,551	$ 11,694

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

Stockholders' Equity (Stock Option Activity) (Details) - Stock Options [Member]	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Number of options
Outstanding, beginning balance \| shares	840,110
Issued \| shares	732,966
Exercised \| shares
Forfeited \| shares	(28,370)
Expired \| shares	(9,003)
Outstanding, ending balance \| shares	1,535,703
Exercisable \| shares	732,465
Weighted average exercise price
Outstanding, beginning balance \| $ / shares	$ 3.58
Issued \| $ / shares	0.36
Exercised \| $ / shares
Forfeited \| $ / shares	0.51
Expired \| $ / shares	7.50
Outstanding, ending balance \| $ / shares	2.08
Exercisable \| $ / shares	$ 3.73

Stockholders' Equity

6 Months Ended

Jun. 30, 2023

Stockholders' Equity [Abstract]

Stockholders' Equity

9. Stockholders’ equity

Warrants

At June 30, 2023 and December 31, 2022, there were zero and 418,441 warrants outstanding, respectively, which were issued in conjunction with a public equity offering in January 2018. All outstanding warrants expired on January 17, 2023.

Share-based compensation

At June 30, 2023, the Company has reserved 1,535,703 and 711,068 shares of common stock issuable upon the exercise of outstanding stock options and unvested stock awards, respectively under its 2006 and 2016 Equity Incentive Plans. An additional 1,362,607 shares of common stock are reserved for future equity awards under the 2016 Equity Incentive Plan.

Unvested Stock Awards

A summary of the Company’s unvested stock awards for the six months ended June 30, 2023, is as follows:


	Shares	Weighted ‎average grant ‎date fair value
Unvested at December 31, 2022	199,454	$	1.86
Granted	785,417		0.53
Vested	(253,925)		1.27
Forfeited	(19,878)		1.34
Unvested at June 30, 2023	711,068	$	0.62

During the six months ended June 30, 2023 and 2022, the Company expensed $225 thousand and $230 thousand, respectively, related to the stock awards. At June 30, 2023, the balance of unearned share-based compensation to be expensed in future periods related to the stock awards is $354 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 2 years.

Stock options

The Company’s option activity is summarized as follows:


	Number of ‎options	Weighted ‎average ‎exercise price
Outstanding at December 31, 2022	840,110	$	3.58
Issued	732,966		0.36
Exercised	—		—
Forfeited	(28,370)		0.51
Expired	(9,003)		7.50
Outstanding at June 30, 2023	1,535,703	$	2.08
Exercisable at June 30, 2023	732,465	$	3.73

Unless otherwise indicated, options issued to employees, members of the Board of Directors, and non-employees are vested daily over one to three years and are exercisable for a term of ten years from the date of issuance. There were 732,966 stock options granted during the six months ended June 30, 2023.

The total intrinsic value of all options outstanding was $0 at June 30, 2023 and December 31, 2022. The total intrinsic value of exercisable options was $0 at June 30, 2023 and December 31, 2022.

The following table summarizes information about options outstanding and exercisable at June 30, 2023:


Weighted ‎average exercise ‎price of outstanding ‎options	Number of ‎options ‎outstanding	Weighted ‎average remaining ‎estimated life ‎(in years)	Number of ‎options ‎exercisable
< $1.00	708,259	10.0	15,779
$1.49 - $2.50	712,322	6.6	608,922
$5.44 - $9.60	47,735	6.9	40,377
$10.80 - $23.40	67,387	2.7	67,387
	1,535,703		732,465

Total share-based compensation on stock options amounted to $78 thousand and $88 thousand for the six months ended June 30, 2023 and 2022, respectively. At June 30, 2023, the balance of unearned share-based compensation to be expensed in future periods related to unvested share-based awards was $329 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 2 years.

Stockholders' Equity (Information About Options Outstanding and Exercisable) (Details) - Stock Options [Member]	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	1,535,703
Number of options exercisable	732,465
$1.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	708,259
Weighted average remaining estimated life (in years)	10 years
Number of options exercisable	15,779
$1.49 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	712,322
Weighted average remaining estimated life (in years)	6 years 7 months 6 days
Number of options exercisable	608,922
$5.44 - $9.60 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	47,735
Weighted average remaining estimated life (in years)	6 years 10 months 24 days
Number of options exercisable	40,377
$10.80 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	67,387
Weighted average remaining estimated life (in years)	2 years 8 months 12 days
Number of options exercisable	67,387
Minimum [Member] \| $1.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	$ 1.00
Minimum [Member] \| $1.49 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	1.49
Minimum [Member] \| $5.44 - $9.60 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	5.44
Minimum [Member] \| $10.80 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	10.80
Maximum [Member] \| $1.49 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	2.50
Maximum [Member] \| $5.44 - $9.60 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	9.60
Maximum [Member] \| $10.80 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	$ 23.40

Debt (Terms and Conditions of Long-term Debt Outstanding) (Details)	6 Months Ended
	Jun. 30, 2023 CAD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Total		$ 8,891,655	$ 8,725,405
less: debt issuance costs		(44,431)	(52,065)
less: current portion		(2,406,147)	(2,387,231)
Long-term debt, net		$ 6,441,077	6,286,109
ACOA AIF Grant [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Maturity date	-	-
Total		$ 2,167,437	2,119,476
ACOA Term Loan #1 [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Monthly repayment	$ 3,120
Maturity date	Feb 2027	Feb 2027
Total		$ 103,635	115,158
ACOA Term Loan #2 [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Monthly repayment	$ 4,630
Maturity date	Sep 2029	Sep 2029
Total		$ 262,039	276,743
ACOA Term Loan #3 [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Monthly repayment	$ 6,945
Maturity date	Dec 2025	Dec 2025
Total		$ 157,227	184,500
Kubota Canada Ltd [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Monthly repayment	$ 1,142
Maturity date	Jan 2025	Jan 2025
Total		$ 16,381	21,077
DFO Term Loan [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Monthly repayment	$ 16,865
Maturity date	Jan 2034	Jan 2034
Total		$ 1,281,556	854,885
PEI Finance Term Loan [Member]
Debt Instrument [Line Items]
Interest rate		4.00%
Monthly repayment	$ 16,313
Maturity date	Nov 2023	Nov 2023
Total		$ 1,753,766	1,752,547
First Farmers Bank & Trust Term Loan [Member]
Debt Instrument [Line Items]
Interest rate		5.375%
Monthly repayment		$ 56,832
Maturity date	Oct 2028	Oct 2028
Total		$ 3,149,614	$ 3,401,019

Basis of Presentation

6 Months Ended

Jun. 30, 2023

Basis of Presentation [Abstract]

Basis of Presentation

3. Basis of presentation

Inventories

Revenue recognition

During the period ended June 30, 2023, the Company recognized the following product revenue:


	Three Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	754,310	$	-	$	754,310
Non-GE Atlantic salmon eggs		-		-		-
Non-GE Atlantic salmon fry				33,527		33,527
Other revenue		-		593		593
Total Revenue	$	754,310	$	34,120	$	788,430


	Six Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	1,146,738	$	-	$	1,146,738
Non-GE Atlantic salmon eggs		-		730		730
Non-GE Atlantic salmon fry				34,257		34,257
Other revenue		-		4,551		4,551
Total Revenue	$	1,146,738	$	39,538	$	1,186,276

During the period ended June 30, 2022, the Company recognized the following product revenue:


	Three Months Ended June 30, 2022
		U.S.		Canada		Total
GE Atlantic salmon	$	812,415	$	207,854	$	1,020,269
Non-GE Atlantic salmon eggs		-		46,692		46,692
Non-GE Atlantic salmon fry		-		(8,712)		(8,712)
Other revenue		-		11,457		11,457
Total Revenue	$	812,415	$	257,291	$	1,069,706


	Six Months Ended June 30, 2022
		U.S.		Canada		Total
GE Atlantic salmon	$	1,601,392	$	339,714	$	1,941,106
Non-GE Atlantic salmon eggs		-		46,692		46,692
Non-GE Atlantic salmon fry		-		33,095		33,095
Other revenue		-		11,694		11,694
Total Revenue	$	1,601,392	$	431,195	$	2,032,587

During the period ended June 30, 2023 and 2022, the Company had the following customer concentration of revenue:


	Three Months Ended June 30,
	2023	2022
Customer A	45%	39%
Customer B	23%	18%
Customer C	12%	14%
All other	20%	29%
Total of all customers	100%	100%


	Six Months Ended June 30,
	2023	2022
Customer A	48%	37%
Customer B	23%	19%
Customer C	13%	12%
All other	16%	32%
Total of all customers	100%	100%

Net loss per share

the Company is reporting a net loss for all periods presented, all potential shares of common stock are considered anti-dilutive and are excluded from the calculation of diluted net loss per share.

The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive:



	Three Months Ended June 30,
Weighted Average Outstanding	2023	2022
Stock options	978,350	869,683
Warrants	-	418,441
Unvested stock awards	531,996	185,611



	Six Months Ended June 30,
Weighted Average Outstanding	2023	2022
Stock options	909,612	800,930
Warrants	36,989	418,441
Unvested stock awards	393,368	145,440

Accounting Pronouncements

Management does not expect any recently issued, but not yet effective, accounting standards to have a material effect on its results of operations or financial condition.

Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2023

Basis of Presentation [Abstract]

Schedule of Product Information

During the period ended June 30, 2023, the Company recognized the following product revenue:


	Three Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	754,310	$	-	$	754,310
Non-GE Atlantic salmon eggs		-		-		-
Non-GE Atlantic salmon fry				33,527		33,527
Other revenue		-		593		593
Total Revenue	$	754,310	$	34,120	$	788,430


	Six Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	1,146,738	$	-	$	1,146,738
Non-GE Atlantic salmon eggs		-		730		730
Non-GE Atlantic salmon fry				34,257		34,257
Other revenue		-		4,551		4,551
Total Revenue	$	1,146,738	$	39,538	$	1,186,276

During the period ended June 30, 2022, the Company recognized the following product revenue:


	Three Months Ended June 30, 2022
		U.S.		Canada		Total
GE Atlantic salmon	$	812,415	$	207,854	$	1,020,269
Non-GE Atlantic salmon eggs		-		46,692		46,692
Non-GE Atlantic salmon fry		-		(8,712)		(8,712)
Other revenue		-		11,457		11,457
Total Revenue	$	812,415	$	257,291	$	1,069,706


	Six Months Ended June 30, 2022
		U.S.		Canada		Total
GE Atlantic salmon	$	1,601,392	$	339,714	$	1,941,106
Non-GE Atlantic salmon eggs		-		46,692		46,692
Non-GE Atlantic salmon fry		-		33,095		33,095
Other revenue		-		11,694		11,694
Total Revenue	$	1,601,392	$	431,195	$	2,032,587

Schedule of Customer Concentration of Revenue


	Three Months Ended June 30,
	2023	2022
Customer A	45%	39%
Customer B	23%	18%
Customer C	12%	14%
All other	20%	29%
Total of all customers	100%	100%


	Six Months Ended June 30,
	2023	2022
Customer A	48%	37%
Customer B	23%	19%
Customer C	13%	12%
All other	16%	32%
Total of all customers	100%	100%

Schedule of Impact of Potentially Dilutive Securities Outstanding



	Three Months Ended June 30,
Weighted Average Outstanding	2023	2022
Stock options	978,350	869,683
Warrants	-	418,441
Unvested stock awards	531,996	185,611



	Six Months Ended June 30,
Weighted Average Outstanding	2023	2022
Stock options	909,612	800,930
Warrants	36,989	418,441
Unvested stock awards	393,368	145,440

Debt (Narrative) (Details)	1 Months Ended		6 Months Ended
Debt (Narrative) (Details)	Sep. 30, 2020 CAD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Mar. 28, 2023 CAD ($)	Mar. 28, 2023 USD ($)	Aug. 31, 2020 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of debt			$ 394,156	$ 42,338
DFO Term Loan [Member]
Debt Instrument [Line Items]
Amount borrowed					$ 539,718	$ 394,156
Maturity date			Jan 2034
Interest rate			0.00%
Interest expense			$ 132,000	$ 150,000
ACOA Term Loan #3 [Member]
Debt Instrument [Line Items]
Maturity date			Dec 2025
Interest rate			0.00%
First Farmers Bank & Trust Term Loan [Member]
Debt Instrument [Line Items]
Maturity date			Oct 2028
Interest rate			5.375%
Secured Debt [Member] \| First Farmers Bank & Trust Term Loan [Member]
Debt Instrument [Line Items]
Amount borrowed							$ 4,000,000
Canadian Subsidiary [Member] \| Secured Debt [Member] \| DFO Term Loan [Member]
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 1,900,000	$ 1,400,000

Going Concern Uncertainty (Policy)	6 Months Ended
Going Concern Uncertainty (Policy)	Jun. 30, 2023
Going Concern Uncertainty [Abstract]
Going Concern Uncertainty	Since inception, the Company has incurred cumulative operating losses and negative cash flows from operations and expects that this will continue for the foreseeable future. As of June 30, 2023, the Company has $43.8 million in cash and cash equivalents, and restricted cash, a significant portion of which is required to fund its current liabilities and other contractual obligations. The Company’s ability to continue as a going concern is dependent upon its ability to raise additional capital and there can be no assurance that such capital will be available in sufficient amounts or on terms acceptable to the Company. This raises substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the accompanying condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and do not include any adjustments that might result from the outcome of this uncertainty.

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity [Abstract]

Restricted Stock Activity


	Shares	Weighted ‎average grant ‎date fair value
Unvested at December 31, 2022	199,454	$	1.86
Granted	785,417		0.53
Vested	(253,925)		1.27
Forfeited	(19,878)		1.34
Unvested at June 30, 2023	711,068	$	0.62

Stock Option Activity


	Number of ‎options	Weighted ‎average ‎exercise price
Outstanding at December 31, 2022	840,110	$	3.58
Issued	732,966		0.36
Exercised	—		—
Forfeited	(28,370)		0.51
Expired	(9,003)		7.50
Outstanding at June 30, 2023	1,535,703	$	2.08
Exercisable at June 30, 2023	732,465	$	3.73

Information About Options Outstanding and Exercisable


Weighted ‎average exercise ‎price of outstanding ‎options	Number of ‎options ‎outstanding	Weighted ‎average remaining ‎estimated life ‎(in years)	Number of ‎options ‎exercisable
< $1.00	708,259	10.0	15,779
$1.49 - $2.50	712,322	6.6	608,922
$5.44 - $9.60	47,735	6.9	40,377
$10.80 - $23.40	67,387	2.7	67,387
	1,535,703		732,465

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Total
Beginning balance (in shares) at Dec. 31, 2021	71,025,738
Beginning balance at Dec. 31, 2021	$ 71,026	$ 384,852,107	$ (255,588)	$ (170,864,782)	$ 213,802,763
Net loss				(5,111,726)	(5,111,726)
Other comprehensive income (loss)			(31,160)		(31,160)
Share based compensation (in shares)	83,963
Share based compensation	$ 84	211,244			211,328
Ending balance (in shares) at Mar. 31, 2022	71,109,701
Ending balance at Mar. 31, 2022	$ 71,110	385,063,351	(286,748)	(175,976,508)	208,871,205
Beginning balance (in shares) at Dec. 31, 2021	71,025,738
Beginning balance at Dec. 31, 2021	$ 71,026	384,852,107	(255,588)	(170,864,782)	213,802,763
Net loss					(10,647,768)
Other comprehensive income (loss)					(62,966)
Ending balance (in shares) at Jun. 30, 2022	71,110,713
Ending balance at Jun. 30, 2022	$ 71,111	385,172,168	(318,554)	(181,512,550)	203,412,175
Beginning balance (in shares) at Mar. 31, 2022	71,109,701
Beginning balance at Mar. 31, 2022	$ 71,110	385,063,351	(286,748)	(175,976,508)	208,871,205
Net loss				(5,536,042)	(5,536,042)
Other comprehensive income (loss)			(31,806)		(31,806)
Exercise of warrants for common stock (in shares)	1,012
Exercise of warrants for common stock	$ 1	1,537			1,538
Share based compensation		107,280			107,280
Ending balance (in shares) at Jun. 30, 2022	71,110,713
Ending balance at Jun. 30, 2022	$ 71,111	385,172,168	(318,554)	(181,512,550)	203,412,175
Beginning balance (in shares) at Dec. 31, 2022	71,110,713
Beginning balance at Dec. 31, 2022	$ 71,111	385,388,684	(516,775)	(193,021,977)	191,921,043
Net loss				(6,486,068)	(6,486,068)
Other comprehensive income (loss)			4,427		4,427
Share based compensation (in shares)	228,225
Share based compensation	$ 228	196,413			196,641
Ending balance (in shares) at Mar. 31, 2023	71,338,938
Ending balance at Mar. 31, 2023	$ 71,339	385,585,097	(512,348)	(199,508,045)	185,636,043
Beginning balance (in shares) at Dec. 31, 2022	71,110,713
Beginning balance at Dec. 31, 2022	$ 71,111	385,388,684	(516,775)	(193,021,977)	191,921,043
Net loss					(12,994,814)
Other comprehensive income (loss)					115,773
Ending balance (in shares) at Jun. 30, 2023	71,345,649
Ending balance at Jun. 30, 2023	$ 71,346	385,691,274	(401,002)	(206,016,791)	179,344,827
Beginning balance (in shares) at Mar. 31, 2023	71,338,938
Beginning balance at Mar. 31, 2023	$ 71,339	385,585,097	(512,348)	(199,508,045)	185,636,043
Net loss				(6,508,746)	(6,508,746)
Other comprehensive income (loss)			111,346		111,346
Share based compensation (in shares)	6,711
Share based compensation	$ 7	106,177			106,184
Ending balance (in shares) at Jun. 30, 2023	71,345,649
Ending balance at Jun. 30, 2023	$ 71,346	$ 385,691,274	$ (401,002)	$ (206,016,791)	$ 179,344,827

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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+ Details

Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Operating Lease Obligations And Remaining Payments



	Lease Liability
		June 30, 2023		December 31, 2022
Total leases	$	205,565	$	224,058
Less: current portion		(4,586)		(20,831)
Long-term leases	$	200,979	$	203,227

Remaining Payments Under Leases


Year		Amount
2023 remaining	$	8,486
2024		17,481
2025		18,006
2026		18,546
2027		19,103
Thereafter		564,225
Total lease payments		645,847
Less: imputed interest		(440,282)
Total operational lease liabilities	$	205,565

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2023	Jul. 31, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Fiscal Period Focus	Q2
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-36426
Entity Registrant Name	AquaBounty Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3156167
Entity Address, Address Line One	2 Mill & Main Place
Entity Address, Address Line Two	Suite 395
Entity Address, City or Town	Maynard
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01754
City Area Code	978
Local Phone Number	648-6000
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	AQB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		71,358,249
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Entity Central Index Key	0001603978

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Condensed Consolidated Balance Sheets [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares outstanding (in shares)	71,345,649	71,110,713

Property, Plant and Equipment (Narrative) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 1,100,000	$ 975,000,000
Gross property, plant, and equipment	169,869,767		$ 114,935,574
Commitments to purchase property, plant, and equipment	26,100,000
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	133,079,715		$ 78,806,762
Rollo Bay Farm And Fortune Bay Hatchery [Member] \| Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	4,000,000.0
Indiana Farm [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	1,900,000
10,000 metric ton salmon farm, Ohio [Member] \| Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	$ 127,200,000

Income Taxes

6 Months Ended

Jun. 30, 2023

Income Taxes [Abstract]

Income Taxes

11. Income Taxes

The Company estimates an annual effective tax rate of 0% for the year ending December 31, 2023 as the Company incurred losses for the six months ended June 30, 2023 and is forecasting additional losses through the remainder of the year ending December 31, 2023, resulting in an estimated net loss for both financial statement and tax purposes for the year ending December 31, 2023. Therefore, no federal or state income taxes are expected and none have been recorded at this time. Income taxes have been accounted for using the liability method.

Due to the Company’s history of losses since inception, there is not enough evidence at this time to support that the Company will generate future income of a sufficient amount and nature to utilize the benefits of its net deferred tax assets. Accordingly, the deferred tax assets have been reduced by a full valuation allowance, since the Company does not currently believe that realization of its deferred tax assets is more likely than not.

As of June 30, 2023, the Company had no unrecognized income tax benefits that would reduce the Company’s effective tax rate if recognized.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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