Advent Q3 revenue up 43% to $2.4M; EU ratifies €782M Green HiPo funding

ADVENT TECHNOLOGIES HOLDINGS, INC.

2022-Q3 EPS reported -$0.52 revenue$5,880,000

Q3 revenue $2.4M (+43% YoY); net loss $11.5M ($0.22/share); cash $42.4M.
EU ratified €782.1M funding for Green HiPo HT-PEM fuel cell/electrolyser project.
Signed MoUs with DEPA (Greece), NYSERDA (US), Hydrogen Systems (Saudi Arabia) for hydrogen projects.
Three-year agreement with German State of Brandenburg for methanol fuel cells in BOS radio network.
Launched Honey Badger 50 portable fuel cell; first shipment to U.S. DoD; delivery to Hellenic Army.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ADVENT TECHNOLOGIES HOLDINGS, INC. reported the three months ended September 30, 2022 results: revenue $2.4 million, net income $11.5 million, EPS $0.22 per share.

Period: the three months ended September 30, 2022
Revenue: $2.4 million
Net income: $11.5 million
EPS: $0.22 per share
Result: reported results

Exact text from the filing

● Q3 revenue of $2.4 million, a 43% increase from the prior year third quarter. Income from grants was $0.3 million, and the total of revenue and income from grants was $2.7 million. ● Net loss in Q3 of $11.5 million or $0.22 per share.

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Source: SEC EDGAR

accession 0001829126-22-019192

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