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Advent Technologies (ADN) investor relations material
Advent Technologies Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary17 Nov, 2025
Executive summary
Focused on hydrogen fuel cell and MEA technology, with operations in the US and Greece after exiting Denmark and the Philippines due to bankruptcy of Advent Technologies A/S in July 2024.
Revenue primarily from fuel cell systems, MEAs, and related services, with ongoing grant funding and R&D partnerships.
Significant business developments include a €34.5M EU Innovation Fund grant for the RHyno Project and ongoing collaborations with Airbus and the US Department of Defense.
Financial highlights
Revenue for Q3 2025 was $62K, down 52% year-over-year; nine-month revenue was $293K, down 92% year-over-year.
Net income from continuing operations for Q3 2025 was $8.6M, compared to a $9.6M loss in Q3 2024; nine-month net income was $1.6M, compared to a $29.2M loss year-over-year.
Net loss from discontinued operations was $8.9M for Q3 2025 and $9.9M for the nine months ended September 30, 2025.
Cash and cash equivalents at September 30, 2025, were $0.5M, with a working capital deficit of $16.0M.
EBITDA for Q3 2025 was $(2.2)M, improved from $(7.8)M in Q3 2024.
Outlook and guidance
Management expresses substantial doubt about the ability to continue as a going concern due to recurring losses, negative working capital, and insufficient cash to fund operations for the next twelve months.
Plans to raise additional capital through equity or debt and reduce expenditures; delays or failure to secure funding could result in curtailment or termination of operations.
How will Advent address its immediate cash shortfall?
How does the RHyno grant impact production scale?
Update on material weaknesses remediation plan
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Next Advent Technologies earnings date
Q4 202530 Mar, 2026
Next Advent Technologies earnings date
Q4 202530 Mar, 2026
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Frequently asked questions
Advent Technologies Holdings, Inc. is a clean energy technology company that develops and manufactures advanced materials and fuel cell systems. The company’s products include high-temperature proton exchange membranes (HT-PEMs), fuel cell components, and complete fuel cell systems designed for various applications, including portable power, automotive, and stationary energy generation. Advent focuses on providing sustainable energy solutions to reduce carbon emissions and support the transition to renewable energy sources. The company is headquartered in Boston, Massachusetts, and its shares are listed on the NASDAQ.
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