Nuvve Q1 revenue down 22% to $1.9M; net loss widens to $7.7M

Nuvve Holding Corp.

2023-Q1 EPS reported -$0.32 revenue$1,854,786

Revenue $1.9M, down 21.8% YoY; net loss $7.7M vs $4.7M in Q1 2022.
Record charger orders (24 units for LAUSD) and deployments; backlog $4.2M.
Cash operating costs reduced to $7.2M from $8.2M; gross margin improved to 17.9% from 4.9%.
Cash and equivalents $11.8M; megawatts under management 18.3 MW (+5% QoQ).
Partnership with Circle K for grid services at 50 stations in Norway/Denmark; revenue expected later in 2023.

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 first quarter ended March 31, 2023 results: revenue $1.9 million, net income $7.7 million.

Period: first quarter ended March 31, 2023
Revenue: $1.9 million
Net income: $7.7 million
Result: reported results

Exact text from the filing

streams with new and existing partners across North America, Europe and Japan throughout the remainder of the year.” 2023 First Quarter Financial Review Total revenue was $1.9 million for the three months ended March 31, 2023 compared to $2.4 million for the three months ended March 31, 2022, a decrease of $0.5 million, or 21.8%. The decrease was primarily

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Source: SEC EDGAR

accession 0001836875-23-000084

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