Bolt Projects Q3 revenue drops to $0.01M; guides 2024 revenue at least $1M, 2025 at least $4.5M

Bolt Projects Holdings, Inc.

2024-Q3 EPS reported -$6.04 revenue$80,000

Q3 2024 revenue ~$0.01M, down from $1.3M YoY; operating loss $20.2M vs $5.1M.
Net income of $6.4M driven by warrant remeasurement gain; adjusted EBITDA -$2.8M vs -$4.1M.
Guides 2024 revenue at least $1.0M and 2025 revenue at least $4.5M; expects positive gross profit in 2025.
Cost per kg of b-silk reduced >60% in 2024; produced >3,000 kg YTD with CMO partner.
Launched two new sunscreen products (Freaks of Nature) with b-silk; new xl-silk and exclusive b-silk serum introduced.

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