Greenwave Technology Solutions (GWAV) investor relations material

Executive summary

• Revenue for the three months ended June 30, 2026 increased 45% year-over-year to $15.99 million, driven by higher metal recycling sales, while gross profit rose 187% to $6.06 million due to improved metal margins despite lower hauling margins.

• Operating expenses increased 32% to $8.91 million, reflecting higher payroll, maintenance, and legal costs associated with business expansion and compliance efforts.

• Net loss available to common shareholders narrowed to $3.24 million from $4.92 million in the prior year quarter, a 34% improvement.

Financial highlights

• Six-month revenue grew 76% year-over-year to $32.27 million, with gross profit up 130% to $12.87 million.

• Operating expenses for the six months rose 19% to $16.79 million, mainly due to increased payroll and maintenance costs.

• Net loss for the six months ended June 30, 2026 was $4.75 million, a 62% reduction from the prior year period.

• Cash flow from operations turned positive at $948,134 for the six months, compared to a $2.93 million outflow in the prior year.

• Cash on hand at June 30, 2026 was $654,987, with a working capital deficit of $23.05 million.

Outlook and guidance

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

• Additional capital may be required, with potential dilution or restrictive debt terms if raised.