Advent Tech Q2 net loss $21.8M, cash burn accelerates; BASF/Safran partnerships signed

ADVENT TECHNOLOGIES HOLDINGS, INC.

2023-Q2 EPS reported -$0.64 revenue$2,089,000

Q2 2023 revenue $1.1M plus grants $0.7M total $1.8M; net loss $21.8M ($0.41/share) vs prior year.
Unrestricted cash $10.1M at June 30, down $9.5M from March 31; includes $3.4M from equity line.
Recorded $9.8M asset impairment charges related to goodwill and intangibles from 2021 acquisitions.
Signed agreement with BASF for HT-PEM fuel cell supply chain; MoU with Safran for aerospace fuel cells.
Secured $1.1M contract to supply HT-PEM MEAs for fuel-cell trucks in Asia; Green HiPo project update.

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 financial results for the six months ended June 30, 2023.

Period: the six months ended June 30, 2023
Result: reported results

Exact text from the filing

Advent Technologies Holdings, Inc., a Delaware corporation (the “Company”), issued a press release (the “Earnings Release”) reporting its financial results for the three and six months ended June 30, 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ADVENT TECHNOLOGIES HOLDINGS, INC. reported the three months ended June 30, 2023 results: revenue $1.1 million.

Period: the three months ended June 30, 2023
Revenue: $1.1 million
Result: reported results

Exact text from the filing

end-to-end supply chain for hydrogen fuel cell systems in Europe. · Signed MoU with Safran Power Units to advance HT-PEM fuel cell technology for the aerospace sector. · Secured $1.1 million contract to supply HT-PEM MEAs for fuel cell-powered trucks in Asia. · Working actively with the Greek State for the timely signing of Advent’s Green HiPo project, following

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ADVENT TECHNOLOGIES HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001829126-23-005325

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