Earnings ·
Nuvve raises $2.5M as Q2 revenues surge 268% to $1.23M despite gross margin contraction to 2.6%
NVVENuvve Holding Corp.
Nuvve Holding Corp. reported second quarter 2026 financial results on August 14, 2026. Total revenues increased 268.4% to $1.23 million from $0.33 million in the prior year period, driven by higher product sales and grants. However, gross profit margins contracted significantly to 2.6% from 60.6%, impacted by warranty costs for discontinued DC chargers and write-downs related to the Troy project. The company raised $2.5 million through private placements and warrant exercises. Cash operating losses narrowed to $7.3 million from $14.7 million, aided by a 52.9% reduction in selling, general, and administrative expenses due to the absence of prior-year non-cash warrant and bad debt charges. Cash and cash equivalents stood at $0.5 million as of June 30, 2026. Nuvve Holding Corp. operates in the green energy technology industry, providing a vehicle-to-grid (V2G) platform for electric vehicles and stationary batteries.