Financial Statements — NVVE
Balance Sheet
(in millions USD)| Metric | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 0.50 | 1.73 | 0.94 | 1.77 | 1.19 | 0.33 | 1.43 | 5.28 | 13.86 | 11.06 | 11.85 | 21.64 | 14.89 | 23.70 | 40.74 | 48.06 | 61.55 |
| Accounts Receivable | 0.71 | 1.28 | 1.11 | 0.35 | 1.49 | 1.67 | 0.52 | 1.28 | 2.67 | 2.03 | 2.55 | 1.06 | 1.96 | 1.43 | 1.10 | 1.14 | 0.85 |
| Inventory | 0.57 | 0.79 | 4.26 | 4.27 | 4.15 | 5.66 | 6.04 | 6.08 | 6.83 | 8.94 | 10.03 | 11.77 | 10.80 | 9.33 | 6.18 | 4.22 | 2.91 |
| Total Current Assets | 5.87 | 7.86 | 9.55 | 8.78 | 9.10 | 10.40 | 11.29 | 16.10 | 26.48 | 25.20 | 28.20 | 37.89 | 30.51 | 36.63 | 49.88 | 55.97 | 67.92 |
| Property, Plant & Equipment | 0.89 | 0.52 | 0.67 | 0.71 | 0.59 | 0.67 | 0.71 | 0.75 | 0.69 | 0.65 | 0.61 | 0.59 | 0.60 | 0.57 | 0.10 | 0.10 | 0.08 |
| Goodwill | 0.10 | 0.10 | 0.10 | 0.70 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Intangible Assets | 0.99 | 1.03 | 1.10 | 1.14 | 1.03 | 1.10 | 1.13 | 1.17 | 1.24 | 1.27 | 1.31 | 1.38 | 1.41 | 1.45 | 0.67 | 0.67 | 1.59 |
| Total Non-current Assets | 1.88 | 1.55 | 1.77 | 1.85 | 1.62 | 1.77 | 1.84 | 1.92 | 1.92 | 1.92 | 1.91 | 1.97 | 1.94 | 1.97 | 1.61 | 1.65 | 1.66 |
| Total Assets | 12.17 | 13.97 | 16.76 | 16.99 | 16.48 | 18.34 | 18.53 | 23.54 | 34.46 | 33.29 | 36.37 | 47.20 | 39.63 | 42.96 | 98.79 | 102.12 | 70.26 |
| Accounts Payable | 4.39 | 4.76 | 2.94 | 1.40 | 2.19 | 2.18 | 1.87 | 1.48 | 1.68 | 0.80 | 2.36 | 1.66 | 3.33 | 3.22 | 2.72 | 3.29 | 4.66 |
| Short-term Debt | 2.10 | 1.00 | 2.20 | 4.10 | 3.70 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.49 |
| Total Current Liabilities | 14.75 | 10.70 | 12.94 | 13.29 | 12.36 | 9.06 | 8.72 | 8.78 | 17.89 | 10.06 | 8.83 | 6.93 | 7.07 | 7.83 | 5.96 | 6.08 | 12.04 |
| Long-term Debt | 1.96 | 0.96 | 3.03 | 5.22 | 4.85 | 2.43 | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.49 |
| Total Non-current Liabilities* | 4.68 | 4.69 | 5.73 | 6.54 | 7.36 | 6.27 | 7.08 | 8.68 | 5.73 | 6.05 | 6.32 | 6.76 | 5.74 | 8.56 | 1.16 | 1.21 | 0.83 |
| Total Liabilities | 19.44 | 15.39 | 18.67 | 19.82 | 19.72 | 15.33 | 15.79 | 17.46 | 23.62 | 16.11 | 15.15 | 13.69 | 12.81 | 16.40 | 7.12 | 7.29 | 12.87 |
| Retained Earnings | (209.40) | (202.26) | (190.36) | (185.85) | (172.47) | (160.54) | (158.89) | (154.96) | (140.96) | (132.62) | (124.62) | (109.33) | (102.84) | (97.57) | (38.84) | (32.01) | (25.82) |
| Total Stockholder Equity | (5.99) | (0.47) | (1.41) | (2.60) | (3.21) | 3.00 | 3.33 | 6.62 | 11.25 | 17.55 | 21.56 | 33.47 | 26.70 | 26.33 | 89.22 | 94.83 | 57.39 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 1.23 | 1.39 | 1.93 | 1.60 | 0.33 | 0.93 | 1.79 | 1.92 | 0.80 | 0.78 | 1.64 | 2.71 | 2.12 | 1.85 | 1.15 | 0.55 | 1.30 | 2.37 | 1.25 | 1.16 |
| Cost of Revenue* | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 2.50 | 1.95 | 1.46 | 0.74 | 0.28 | 1.03 | 2.14 | 1.12 | 0.39 |
| Gross Profit | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.21 | 0.17 | 0.39 | 0.40 | 0.28 | 0.27 | 0.23 | 0.12 | 0.78 |
| Research & Development | 0.94 | 1.61 | 0.67 | 1.18 | 1.09 | 0.88 | 0.77 | 0.71 | 1.47 | 1.59 | 1.98 | 2.29 | 2.39 | 2.10 | 1.96 | 1.72 | 2.17 | 2.14 | 1.95 | 1.62 |
| Selling, General & Admin | 6.54 | 4.89 | 3.01 | 4.76 | 13.91 | 5.08 | 5.13 | 2.13 | 4.49 | 5.93 | 5.94 | 6.48 | 6.10 | 6.17 | 7.19 | 7.16 | 8.14 | 7.63 | 6.54 | 6.60 |
| Total Operating Expenses | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 12.19 | 8.48 | 8.27 | 9.14 | 8.88 | 10.31 | 9.76 | 8.49 | 8.22 |
| Operating Income | (7.45) | (5.84) | (6.68) | (5.11) | (14.80) | (5.59) | (5.61) | (1.84) | (5.76) | (7.25) | (7.45) | (8.46) | (8.32) | (7.88) | (8.74) | (8.60) | (10.04) | (9.53) | (8.37) | (7.45) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Pretax Income* | (6.97) | (5.17) | (6.06) | (4.51) | (13.38) | (6.87) | (5.09) | (1.65) | (3.94) | (6.71) | (7.28) | (8.34) | (7.99) | (7.67) | (7.63) | (6.49) | (5.27) | (4.63) | (54.09) | (6.84) |
| Tax Provision | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | (6.97) | (5.17) | (6.06) | (4.51) | (13.38) | (6.87) | (5.09) | (1.65) | (3.94) | (6.71) | (7.28) | (8.34) | (7.99) | (7.67) | (7.63) | (6.49) | (5.27) | (4.63) | (54.09) | (6.84) |
| Basic EPS | (14.45) | (28.96) | (1,249.38) | (4.32) | (38.16) | (69.84) | (397.62) | (44.46) | (12.06) | (30.42) | (710.46) | (4.86) | (5.40) | (5.76) | 42.84 | (5.58) | (5.22) | (4.68) | (8.64) | (6.66) |
| Diluted EPS | (14.45) | (28.96) | (1,249.38) | (4.32) | (38.16) | (69.84) | (397.62) | (44.46) | (12.06) | (30.42) | (710.46) | (4.86) | (5.40) | (5.76) | 42.84 | (5.58) | (5.22) | (4.68) | (8.64) | (6.66) |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | (3.39) | (6.00) | (4.28) | (5.07) | (5.47) | (1.81) | (3.49) | (3.51) | (4.01) | (4.72) | (15.05) | 2.85 | (3.22) | (5.83) | (5.90) | (8.16) | (11.57) | (8.45) | (5.71) | (10.07) |
| Capital Expenditures | 0.30 | 0.00 | 0.00 | 0.00 | 0.04 | 0.01 | (0.01) | 0.00 | 0.01 | 0.04 | (0.01) | 0.10 | 0.09 | 0.01 | 0.09 | 0.03 | 0.07 | 0.25 | 0.27 | 0.00 |
| Free Cash Flow* | (3.69) | (6.00) | (4.28) | (5.08) | (5.51) | (1.82) | (3.48) | (3.51) | (4.02) | (4.77) | (15.04) | 2.75 | (3.31) | (5.84) | (5.99) | (8.19) | (11.64) | (8.70) | (5.99) | (10.07) |
| Investing Cash Flow | (0.30) | 0.00 | 0.92 | -0.00 | (0.38) | (0.01) | 0.01 | -0.00 | (0.01) | (0.04) | 0.01 | (0.10) | (0.09) | 1.31 | (0.09) | (0.03) | (1.07) | (0.25) | (0.27) | -0.00 |
| Financing Cash Flow | 2.55 | 2.23 | 7.89 | 4.30 | 6.39 | 2.62 | 3.38 | 2.40 | 0.17 | 8.51 | 2.64 | 0.10 | 2.52 | 0.60 | 0.03 | 15.01 | 4.02 | -0.00 | (2.44) | 2.69 |
* Derived from reported values