Revenue Performance - Bolt's Q2 2025 revenues reached approximately $1.3 million, a twenty-three-fold increase year-over-year from $56 thousand in Q2 2024[14] - Revenue for Q2 2025 was $1,302,000, a significant increase from $56,000 in Q2 2024, representing a growth of 2,221%[36] - Full year revenue guidance remains unchanged at $4.5 million for 2025 and $9.0 million for 2026[22] Gross Margin and Profitability - The company achieved a positive gross margin in Q2 2025, with a cost of revenues of approximately $1.2 million, compared to $85 thousand in Q2 2024[15] - Gross profit guidance for 2025 is set at $0.5 million, with an increase to $1.0 million projected for 2026[5] - Gross income for Q2 2025 was $62,000, compared to a gross loss of $29,000 in Q2 2024[36] Operating Expenses and Losses - Operating expenses decreased to approximately $4.9 million in Q2 2025, down from $9.6 million in Q2 2024[16] - Total operating expenses for Q2 2025 were $4,879,000, down from $9,579,000 in Q2 2024, a reduction of 49%[36] - Loss from operations was approximately $4.8 million in Q2 2025, significantly reduced from $9.6 million in Q2 2024[19] - Net loss for Q2 2025 was $4,583,000, a decrease from a net loss of $58,932,000 in Q2 2024[36] Cash Position - As of June 30, 2025, the company had $1.0 million in cash and cash equivalents, flat compared to the prior quarter[20] - Cash and cash equivalents at the end of Q2 2025 were $974,000, down from $3,512,000 at the end of 2024[35] - Net cash used in operating activities for the first half of 2025 was $(2,856,000), an improvement from $(7,362,000) in the first half of 2024[38] Intellectual Property - The company added 5 new patents in Q2 2025, bringing its total to 77 granted and 118 pending[11] - The company holds 77 granted patents and 118 pending patent applications, indicating a strong intellectual property position in biomaterials[33] Financial Position - The company reported total liabilities of $21,971,000 as of June 30, 2025, compared to $20,840,000 at the end of 2024[35] - The company’s total stockholders' deficit increased to $(15,160,000) as of June 30, 2025, from $(8,610,000) at the end of 2024[35] Financing Activities - Bolt has entered into a non-binding term sheet for up to $20 million in financing, subject to stock price and shareholder approval[5] Adjusted EBITDA - Adjusted EBITDA for Q2 2025 was approximately ($3.3) million, compared to ($2.6) million for Q2 2024[20] - Adjusted EBITDA for Q2 2025 was $(3,283,000), compared to $(2,584,000) in Q2 2024[40]
Bolt Projects Holdings, Inc.(BSLK) - 2025 Q2 - Quarterly Results