Nuvve (NVVE) Q2 2026 earnings summary

Executive summary

• Trading was suspended on NASDAQ due to non-compliance with listing standards; shares now trade on OTCQB.

• Immediate priority is to regain a senior market listing by executing business plans, rebuilding the balance sheet, and maintaining current filings.

• Achieved total revenue of $1.23 million in Q2 2026, up 268.4% year-over-year, driven by higher product sales and grants.

• Net loss narrowed to $7.3 million in Q2 2026 from $13.6 million in Q2 2025, reflecting increased revenue and reduced operating expenses.

• Focus is on stationary batteries in Japan, Europe, and New Mexico, with asset ownership and recurring cash flow as strategic goals.

Financial highlights

• Q2 2026 revenue was $1.23 million, up from $0.33 million in Q2 2025, mainly from increased product sales and grants.

• Gross margin dropped to 2.6% from 26.1% year-over-year, impacted by a $1.2 million write-down and higher warranty costs.

• Net loss for Q2 2026 was $7 million, improved from $13.4 million in Q2 2025, due to lower operating losses.

• Cash at June 30, 2026, was $0.5 million, down $1.4 million from March 31, 2026.

• Backlog increased to $5.3 million from $4.4 million sequentially.

Outlook and guidance

• Pipeline is described as the strongest in company history, with anticipated growth in megawatts under management and backlog conversion.

• Expecting further growth in megawatts under management and improvements in cash burn due to lower operating costs.

• More developments expected in European, Japan, and New Mexico projects in coming quarters.

• Focus on expanding battery aggregation services in Japan and replacing decommissioned stationary batteries in California.

• Continued business development efforts targeting commercial and governmental customers.