Quarterly ResultJul 29, 2026, 01:03 PM
Greenwave Q1 Net Loss Narrows to $1.5M; Going Concern Doubt
AI Summary
Greenwave Technology Solutions reported a significant improvement in its financial performance for Q1 2026, with net loss narrowing to $1.50 million from $4.67 million in Q1 2025. Revenues more than doubled to $16.28 million, and operating cash flow turned positive. Despite these improvements, the company's working capital deficit and accumulated deficit raise substantial doubt about its ability to continue as a going concern.
Key Highlights
- Net loss narrowed to $1.50 million in Q1 2026 from $4.67 million in Q1 2025.
- Revenues increased by 121.9% to $16.28 million in Q1 2026 from $7.33 million.
- Gross profit rose by 95.4% to $6.81 million in Q1 2026 from $3.49 million.
- Operating cash flow turned positive at $1.32 million in Q1 2026 from negative $4.16 million.
- Net loss per common share improved to $(1.81) from $(17.85) year-over-year.
- Cash balance increased to $1.46 million as of March 31, 2026.
- Company faces substantial doubt about its ability to continue as a going concern.
- Working capital deficit was $(17.97) million as of March 31, 2026.
Price Impact
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