Nuvve (NVVE) investor relations material

Executive summary

• Revenue for Q2 2025 declined 58–58.5% year-over-year to $0.33M, with net loss widening to $13.6M, driven by higher operating expenses, including $8.1M in warrant expenses for crypto consulting, and lower sales.

• Completed structural changes and expanded focus to energy, AI, and crypto, with new board expertise and consulting services.

• Integrated Fermata Energy assets and formed new subsidiaries in Japan, Europe, and the US to enhance platform capabilities and regional reach.

• Approved a digital asset treasury strategy, allowing up to 100% allocation to digital assets, including HYPE, with implementation expected in H2 2025.

• Raised $5.5M in a July 2025 public offering to bolster liquidity.

Financial highlights

• Q2 2025 revenue was $0.33M, down from $0.80M in Q2 2024; year-to-date revenue through June 30, 2025, was $1.25M, compared to $1.58M for the same period last year.

• Gross margin improved to 60.6% in Q2 2025 from 10.1–24.9% a year ago, driven by a higher mix of engineering and service revenues.

• Net loss for Q2 2025 was $13.6M, up from $3.9–$4.2M in Q2 2024, primarily due to one-time non-cash expenses and higher operating costs.

• Cash at June 30, 2025, was $1.8M, up from $0.4M at year-end 2024.

• Raised $6.9M in Q2 and $5.5M in July 2025 through debt and equity to support growth and operations.

Outlook and guidance

• Management expects continued operating losses and negative cash flows, with additional funding needed to support operations and debt repayment.

• Transition to profitability depends on successful commercialization of the GIVe platform and revenue growth.

• Expect Q3 hardware revenue to recover as new product supply chain stabilizes.

• Anticipate further growth in megawatts under management in 2025 as backlog is commissioned and new business is won.

• Backlog as of June 30, 2025, was $19.1M, with $14.7M at risk due to unfinanced Fresno EV infrastructure project.