Nuvve (NVVE) Q2 2026 Earnings Call: Revenue Rises 268%
Source Tradingkey
Key Takeaways
- Q2 2026 revenue rose 268% year over year to $1.23 million, primarily driven by higher product shipments and grant revenue.
- Net loss attributable to Nuvve common stockholders narrowed 46% to $7.0 million from $13.4 million a year earlier.
- Product, service and grant margin fell to 2.6%, reflecting a $1.2 million Troy project write-down, a heavier mix of charging-station hardware and higher DC charger warranty costs.
- Backlog increased to $5.3 million at June 30, 2026, up $0.9 million from March 31. Management expects these customer contracts to convert into sales during 2026.
- Cash totaled $0.5 million, excluding $0.3 million of restricted cash, after the company used $3.6 million in operating activities during the quarter.
- Nuvve is shifting its strategic focus toward owning and operating stationary batteries in Japan, Europe and New Mexico. Management described returning to Nasdaq or NYSE as an immediate priority, with a timeline measured in months.
Key Financial Data
| Metric | Q2 2026 / June 30, 2026 | Comparison | Key driver or context |
|---|---|---|---|
| Total revenue | $1.23 million | $0.33 million in Q2 2025; up 268% | Higher product orders, shipments and grant revenue |
| Product, service and grant margin | 2.6% | 26.1% in Q2 2025 | Troy write-down, hardware mix and DC charger warranty costs |
| Product and service margin excluding grants | (14.5%) | 11.6% in Q2 2025 | Lower quarterly margin mix |
| Operating costs excluding cost of sales | $7.5 million | $15.0 million in Q2 2025; $6.5 million in Q1 2026 | Higher sequential public-company and legal expenses |
| Cash operating expenses | $7.3 million | $5.7 million in Q2 2025; $6.0 million in Q1 2026 | Excludes stock compensation, depreciation, amortization and other one-time costs |
| Net loss attributable to common stockholders | $7.0 million | $13.4 million in Q2 2025 | Lower operating losses |
| Cash | $0.5 million | Down $1.4 million from March 31, 2026 | Excludes $0.3 million of restricted cash |
| Operating cash used | $3.6 million | — | Partly funded by equity, warrant exercises and debt |
| Backlog | $5.3 million | $4.4 million at March 31, 2026 | New customer contracts expected to convert into 2026 sales |
| Megawatts under management | 29.9 MW | Up 3.1% sequentially and 16.8% year over year | 29.7 MW from EV chargers and 0.2 MW from stationary batteries |
Business and Operating Performance
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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