Nuvve Q3 2022 revenue $0.6M (-52% YoY), net loss $8.3M

Nuvve Holding Corp.

2022-Q3 EPS reported -$3.46 revenue$4,226,447

Revenue of $0.6M, down 52.4% YoY; products and services revenue fell $0.2M, grants down $0.4M.
Net loss of $8.3M vs $7.0M in Q3 2021; SG&A rose to $7.2M from $6.6M.
Cash and equivalents $21.6M at Sep 30, 2022; cash operating costs fell sequentially to $7.8M.
Partnered with San Diego Gas & Electric for emergency load reduction; also with Vistra for school bus grants.
Megawatts under management 16.3; backlog $4.2M; CEO cites supply chain and inflation headwinds.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Nuvve Holding Corp. reported third quarter ended September 30, 2022 results: revenue $0.6 million, net income $8.3 million.

Period: third quarter ended September 30, 2022
Revenue: $0.6 million
Net income: $8.3 million
Result: reported results

Exact text from the filing

Total revenue was $0.6 million for the three months ended September 30, 2022, compared to $1.2 million for the three months ended September 30, 2021, a decrease of $0.6 million, or 52.4%. The decrease was primarily attributed to a $0.2 million decrease in products and services revenue, and a decrease in grants of $0.4 million. Products and services revenue for the three months ended September 30, 2022 consisted of sales DC and AC Chargers of about $0.3 million, grid services revenue of $0.16 million, and engineering services of $0.05 million. Cost of products and services revenue for the three months ended September 30, 2022, decreased by $0.11 million to $0.3 million, and margin was flat at 43.3% compared to the same prior year period. Margin was mostly impacted by a higher mix of hardware charging stations sales offset by a lower mix of engineering services in the current quarter. Selling, general and administrative expenses consist of selling, marketing, advertising, payroll, admini

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Source: SEC EDGAR

accession 0001836875-22-000095

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