Nuvve Holding 2025 Q3 Earnings Net Loss Widens 190.6% Despite EPS Improvement

Nuvve Holding (NVVE) reported fiscal 2025 Q3 earnings on Nov 14, 2025, with mixed results: while losses per share narrowed by 90.3%, the net loss widened significantly. The company’s strategic focus on stationary battery projects in Europe and Japan underscores its long-term growth ambitions despite ongoing financial challenges.

Revenue

Nuvve Holding’s total revenue declined 16.7% year-over-year to $1.60 million in Q3 2025, driven by an $880,000 drop in services revenue. Product revenue totaled $947,561, reflecting higher customer orders and shipments of DC/AC chargers and engineering services. Grants contributed $270,190, while services revenue stood at $380,876. Despite the decline, the company highlighted accelerated sales growth in Q3 following a soft first-half performance.

Earnings/Net Income

The company narrowed its per-share loss to $0.24 in Q3 2025 from $2.47 in Q3 2024, a 90.3% improvement. However, the net loss widened to $4.79 million (a 190.6% increase from $1.65 million in 2024 Q3), driven by higher operating expenses and cash burn. The sustained losses over six years underscore ongoing financial headwinds.

Post-Earnings Price Action Review

The strategy of buying NVVE shares on the date of its Q3 2025 revenue report and holding for 30 days yielded a 46.94% return, outpacing the stock’s 52-week high-low range of $0.1455 to $0.4064. The 30-day holding period mitigated short-term volatility, as seen in the 205% aftermarket surge following the earnings release. The strategy capitalized on investor optimism around stationary battery projects in Denmark and Japan, which are projected to deliver internal rates of return exceeding 25%. However, the high-risk approach remains contingent on the company’s ability to execute its strategic initiatives.

CEO Commentary

CEO Gregory Poilasne emphasized progress in stationary battery pipeline expansion, particularly in North America, Europe, and Japan. Despite cash operating losses widening to $4.8 million, he expressed optimism about future opportunities, including strategic shifts toward aggregation services and new projects in Denmark and Japan.

Guidance

Nuvve anticipates stationary battery growth as a core business focus, targeting expansion in Japan’s commercial/governmental sectors and California’s battery replacements. Forward-looking statements include investments in platform functionality and vehicle integration, though no specific revenue or margin targets were provided.

Additional News

1. Japan Battery Deal: Nuvve’s Japanese subsidiary secured a 1.999 MW/8,170 MWh storage project in Tainai City, spurring an 180% pre-market stock surge. The project, operational by mid-2026, marks the company’s expansion into stationary storage.

2. Financing Measures: Nuvve announced a $50 million private placement and equity line of credit to meet Nasdaq compliance deadlines. The move triggered a 42.5% share plunge but aims to strengthen liquidity and equity.

3. Denmark Projects: Three 2 MW battery storage systems in eastern Denmark, totaling 6 MW, were announced, with expected 25% IRR and operations by late 2026.

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