NVVEW — Nuvve Holding Corp.

Summary of Nuvve Holding Corporation Q4 2025 Earnings Call

1. Key Financial Results and Metrics

• Q4 2025 Revenues: $1.93 million, up from $1.79 million in Q4 2024, driven by higher product and grant revenues but offset by lower service revenues due to the absence of management fees from the Fresno EV infrastructure project.
• FY 2025 Revenues: $4.79 million, down from $5.29 million in FY 2024, primarily due to lower service revenues.
• Margins: Q4 margins improved to 24.2% from 15.8% year-over-year, with year-to-date margins at 39.1% compared to 33.1% in the prior year.
• Net Loss: Increased to $6.1 million in Q4 2025 from $5.1 million in Q4 2024, largely due to a one-time inventory impairment charge of $3.47 million.
• Cash Position: As of December 31, 2025, cash was approximately $5.5 million, an increase from $0.4 million at the end of 2024, aided by capital raised through preferred stock and warrant exercises.

2. Strategic Updates and Business Highlights

• Pivot to Stationary Storage: Nuvve is transitioning from vehicle-to-grid (V2G) deployments to stationary battery storage, leveraging existing expertise in battery management.
• Partnerships: Announced a partnership with OMNIA Global for a 1 GW battery pipeline in Europe, with three projects already in progress across Sweden, Austria, and Romania.
• Nuvve Japan: Following the end of the partnership with Toyota Tsusho, Nuvve established its own entity in Japan, securing a 2 MW battery sale and being selected as an aggregator for additional projects.
• Operational Improvements: Integration of AI functionalities to enhance project management and reduce costs.

3. Forward Guidance and Outlook

• Nuvve anticipates growth in megawatts under management in 2026, driven by new customer orders and ongoing projects in Europe and Japan.
• The company expects improvements in cash burn due to lower operating costs and a focus on battery deployments.

4. Bad News, Challenges, or Points of Concern

• Inventory Impairment: A significant $3.47 million impairment charge on non-conforming DC chargers, which will no longer be sold domestically.
• Decreased Backlog: The hardware and service backlog fell to $3.3 million from $18.3 million year-over-year, primarily due to the termination of the Fresno EV infrastructure project.
• Market Conditions: U.S. battery projects are progressing slower than those in Europe and Japan, which may impact overall growth.

5. Notable Q&A Insights

• The call concluded without any questions from participants, indicating a potential lack of immediate investor concerns or engagement during this earnings call.

Overall, Nuvve is strategically pivoting towards stationary battery storage, with promising partnerships and operational improvements, despite facing challenges such as inventory impairments and a declining backlog. The outlook for 2026 appears optimistic with anticipated growth in battery deployments.