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Greenwave Technology Solutions (GWAV) investor relations material

Greenwave Technology Solutions Q1 24/25 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 24/25 earnings summary19 Nov, 2025

Executive summary

  • Transitioned from technology platform to metal recycling, operating 13 facilities in VA, NC, and OH, with expansion into hauling services and a focus on maximizing metal value through advanced processing.

  • Main revenue streams are ferrous and nonferrous metal sales, with significant customer concentration and exposure to market price fluctuations.

Financial highlights

  • Revenue for Q1 2025 was $7.33M, down 13.8% year-over-year, mainly due to lower metal revenues.

  • Gross profit increased 6.8% to $3.49M, driven by improved margins in hauling and metal segments.

  • Operating expenses rose 21.3% to $7.37M, reflecting higher payroll, advertising, depreciation, and maintenance costs.

  • Net loss available to common stockholders was $7.67M, a significant improvement from $33.46M loss in Q1 2024.

  • Cash on hand at March 31, 2025 was $5.5M, with a working capital deficit of $7.48M.

Outlook and guidance

  • Management highlights substantial doubt about the ability to continue as a going concern due to ongoing losses and working capital deficit.

  • Plans to seek additional capital through equity or debt, but acknowledges potential dilution and restrictive covenants.

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Frequently asked questions

Greenwave Technology Solutions, Inc. is a U.S.-based company specializing in the recycling and processing of ferrous and non-ferrous metals. The company operates metal recycling facilities where it collects, processes, and resells scrap metal, serving industries that require recycled metal materials. Greenwave Technology Solutions is involved in sustainable waste management practices and contributes to resource conservation by transforming scrap metal into reusable raw materials. The company is headquartered in Chesapeake, Virginia, and its shares are listed on the NASDAQ.

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