Revenue and Financial Performance - Total revenue for Q4 2024 was 1.79million,flatcomparedto1.64 million in Q4 2023[4] - Total revenue for Q4 2024 was 1,786,075,a8.61,644,677 in Q4 2023[22] - The company reported a total comprehensive loss of 5,126,469forQ42024,comparedtoalossof7,330,103 in Q4 2023, reflecting a 30.1% improvement[24] - Net loss decreased by 2.2millionto5.1 million in Q4 2024, compared to a net loss of 7.3millioninQ42023[9]−NetlossforQ42024was5,098,817, compared to a net loss of 7,319,240inQ42023,representinga30.317,426,412, a significant improvement from the net loss of 31,296,787in2023,representingareductionofapproximately4420,460,431, down from 32,105,275in2023,indicatinga36.32.0 million to 5.9millioninQ42024,downfrom7.9 million in Q4 2023[3] - Research and development expenses decreased by 61.3% to 0.8millioninQ42024,downfrom2.0 million in Q4 2023[7] - Selling, general and administrative expenses decreased by 13.7% to 5.1millioninQ42024,comparedto5.9 million in Q4 2023[6] - Research and development expenses for Q4 2024 were 767,558,adecreaseof61.31,981,189 in Q4 2023[22] - The company reported a depreciation and amortization expense of 337,971in2024,downfrom396,210 in 2023, a decrease of approximately 15%[26] Assets and Liabilities - Total assets decreased to 16,797,812in2024from20,950,506 in 2023, a decline of 19.7%[20] - Total liabilities increased to 18,087,459in2024from13,960,043 in 2023, an increase of 29.5%[20] - Cash and cash equivalents decreased significantly to 371,497in2024from1,534,660 in 2023, a drop of 75.8%[20] - Accounts receivable increased to 2,148,198in2024from1,724,899 in 2023, an increase of 24.6%[20] Cash Flow and Financing - Net cash used in operating activities decreased to 15,734,334in2024from21,254,328 in 2023, indicating a 26% improvement[26] - Cash and restricted cash at the end of 2024 was 691,497,downfrom2,014,660 at the end of 2023, reflecting a decrease of 66%[26] - The company raised 8,502,086fromcommonstockofferingsin2024,comparedto884,586 in 2023, marking an increase of over 867%[26] - The net cash provided by financing activities in 2024 was 14,462,917,asubstantialincreasefrom5,862,746 in 2023, reflecting enhanced financing efforts[26] Operational Metrics - Customer backlog exceeded 18millionatthestartof2025,supportinggrowthprospects[3]−Megawattsundermanagementincreasedby22.31.5 million in Q4 2024, up from 1.2millioninQ42023[5]−Otherincome(expense)shiftedfrom0.13 million of income in Q4 2023 to 0.52millionofexpenseinQ42024[8]−Inventoryincreasedby1,297,551 in 2024, contrasting with a decrease of 5,445,390in2023,indicatingashiftininventorymanagementstrategy[26]−Thechangeinfairvalueofwarrantsliabilityresultedinagainof3,263,697 in 2024, compared to a loss of 216,263in2023[26]−Theeffectofexchangerateoncashresultedinalossof6,351 in 2024, compared to a gain of $35,624 in 2023, indicating potential currency risk[26] Ownership and Acquisitions - Nuvve became the 100% owner of Levo after acquiring the remaining 49% membership interest in October 2024[12] Shareholder Information - The weighted-average shares used in computing net loss per share increased to 881,144 in Q4 2024 from 107,711 in Q4 2023[22]
