Greenwave Technology Solutions (GWAV) investor relations material

Company overview and business model

• Operates 13 metal recycling facilities in Virginia, North Carolina, and Ohio, focusing on processing ferrous and nonferrous metals from end-of-life vehicles, appliances, and industrial materials.

• Main products include heavy melting steel, plate and structural, shredded scrap, and processed nonferrous metals such as aluminum, copper, and stainless steel.

• Provides recycling services to a diverse supplier base, including corporations, manufacturers, retail customers, and government organizations.

• Strategic priority to open a facility with rail or deep-water port access to expand market reach and improve profitability.

• Transitioned from a technology platform to scrap metal recycling after acquiring Empire Services in 2021.

Financial performance and metrics

• For the six months ended June 30, 2026, revenue was $32.3M, up 76% from $18.3M in the prior year period.

• Gross profit for the same period rose to $12.9M from $5.6M, with operating expenses increasing to $16.8M.

• Net loss available to common shareholders for the six months ended June 30, 2026 was $4.7M, a significant improvement from a $12.6M loss in the prior year.

• As of June 30, 2026, cash on hand was $655K, with a working capital deficit of $23.1M and an accumulated deficit of $525.7M.

• The independent auditor expressed substantial doubt about the company's ability to continue as a going concern.

Use of proceeds and capital allocation

• The company will not receive proceeds from the resale of shares by selling stockholders; all proceeds go to the selling stockholders.

• Recent capital allocation includes equipment purchases, property acquisitions, and repayment of related party debt.