Earnings ·
Eco Wave Power reports Q3 net loss of $529K, down 47% year-over-year
WAVEEco Wave Power Global AB (publ)
Eco Wave Power reported a third-quarter net loss of $529 thousand, a 47% reduction from the $996 thousand loss in the same period last year. Operating expenses declined by 25% to $666 thousand, while the company recorded net financial income of $137 thousand compared to net financial expenses of $108 thousand previously. For the nine months ended September 30, 2026, the net loss decreased by 24% to $2.2 million and operating expenses fell by 14%. The company also announced the completion of Phase 1 of its AI-powered Digital Twin program with AI engineering GmbH and received a first purchase order from Bharat Petroleum for a site assessment in India. Eco Wave Power is an onshore wave energy technology company that converts ocean waves into electricity using patented systems integrated with coastal infrastructure.