Financial Performance - Total revenue increased by 19.8% to $0.9 million in Q1 2025 compared to Q1 2024[4] - Operating losses decreased by 22.9% to $5.6 million in Q1 2025 compared to Q1 2024[4] - Net loss increased by 2.2% to $6.9 million in Q1 2025 compared to $6.7 million in Q1 2024[11] - Total revenue for Q1 2025 was $934,304, an increase of 19.8% compared to $779,756 in Q1 2024[24] - Product revenue increased to $565,551, up 18.7% from $476,469 in the same period last year[24] - Service revenue rose to $267,304, reflecting a 21.5% increase from $219,871 in Q1 2024[24] - Operating loss for Q1 2025 was $5,586,614, an improvement from a loss of $7,247,375 in Q1 2024[24] - Net loss attributable to Nuvve Holding Corp. common stockholders was $6,873,003, compared to $6,950,908 in Q1 2024[24] Expenses Management - Operating expenses excluding cost of sales reduced by 20.7% to $6.0 million in Q1 2025 compared to Q1 2024[4] - Research and development expenses decreased by 44.4% to $0.9 million in Q1 2025 compared to Q1 2024[9] - Selling, general and administrative expenses decreased by 14.4% to $5.1 million in Q1 2025 compared to Q1 2024[7] Cash Flow and Assets - Cash and restricted cash at the end of Q1 2025 totaled $1,509,577, a decrease from $5,763,031 at the end of Q1 2024[28] - Total assets decreased to $16,477,411 from $16,797,812 at the end of 2024[22] - Total liabilities increased to $19,719,217, up from $18,087,459 at the end of 2024[22] - The company reported a net cash used in operating activities of $1,808,781, significantly improved from $4,724,580 in Q1 2024[28] Growth and Management Outlook - Increased megawatts under management by 3.6% to 31.8 megawatts as of March 31, 2025[4] - Raised approximately $5.3 million in gross proceeds through various financing activities in Q1 2025[4] - Products and services margin increased by 5.8% to 32.6% in Q1 2025 compared to 26.8% in Q1 2024[6] - Management expressed excitement about future business expansion through potential merger and acquisition activities[3] Shareholder Information - The weighted-average shares used in computing net loss per share increased to 1,772,214 from 411,443 in Q1 2024[24]
Nuvve (NVVE) - 2025 Q1 - Quarterly Results