Financial Statements — GWAV
Balance Sheet
(in millions USD)| Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Accounts Receivable | 1.87 | 2.21 | 2.28 | 1.89 | 0.81 | 0.94 | 0.49 | 0.23 | 0.36 | 0.67 | 0.08 | -- | -- | -- | -- |
| Inventory | 2.78 | 1.14 | 4.56 | 2.15 | 1.12 | 0.40 | 0.15 | 0.12 | 0.49 | 0.72 | 0.50 | 0.73 | -- | -- | -- |
| Total Current Assets | 7.03 | 9.98 | 12.62 | 19.77 | 26.99 | 2.22 | 2.57 | 1.33 | 1.18 | 3.00 | 1.70 | 2.61 | 0.00 | 0.05 | 0.05 |
| Property, Plant & Equipment | 37.52 | 38.04 | 37.70 | 30.97 | 27.96 | 22.60 | 24.47 | 17.67 | 17.75 | 7.81 | 6.02 | 3.89 | -- | -- | -- |
| Goodwill | -- | -- | -- | -- | -- | -- | -- | -- | -- | 2.50 | 2.50 | 2.50 | -- | -- | -- |
| Intangible Assets | 14.72 | 15.45 | 16.19 | 17.67 | 18.41 | 19.15 | 20.63 | 1.97 | 22.85 | 23.59 | 24.33 | 25.07 | -- | -- | -- |
| Total Non-current Assets* | 52.83 | 54.15 | 54.90 | 49.81 | 47.63 | 43.08 | 45.49 | 41.04 | 42.62 | 37.23 | 36.85 | 34.86 | 0.00 | 0.00 | 0.00 |
| Total Assets | 59.85 | 64.12 | 67.52 | 69.58 | 74.62 | 45.30 | 48.06 | 42.37 | 43.80 | 40.23 | 38.55 | 37.47 | 0.00 | 0.05 | 0.05 |
| Accounts Payable | 6.97 | 6.43 | 5.42 | 5.75 | 5.47 | 5.12 | 5.33 | 5.91 | 6.02 | 3.62 | 4.57 | 3.17 | -- | -- | -- |
| Short-term Debt | 7.21 | 7.49 | 7.74 | 2.55 | 2.67 | 2.75 | 2.62 | -- | -- | -- | -- | 0.16 | -- | -- | -- |
| Total Current Liabilities | 20.74 | 19.51 | 20.10 | 13.00 | 12.86 | 22.71 | 18.78 | 23.69 | 22.51 | 13.63 | 49.52 | 34.86 | 17.54 | 24.53 | 63.30 |
| Long-term Debt | 6.16 | 6.32 | 5.18 | 4.47 | 4.80 | 13.05 | 23.41 | 9.23 | 9.75 | -- | -- | -- | -- | -- | -- |
| Total Non-current Liabilities* | 6.44 | 6.66 | 5.88 | 5.30 | 5.68 | 16.98 | 29.59 | 9.63 | 9.99 | 4.11 | 1.93 | 1.38 | 0.13 | 0.06 | 0.11 |
| Total Liabilities | 27.18 | 26.17 | 25.99 | 18.30 | 18.55 | 39.69 | 48.37 | 33.32 | 32.49 | 17.73 | 51.45 | 36.24 | 17.67 | 24.59 | 63.41 |
| Retained Earnings | (514.17) | (508.90) | (503.98) | (477.93) | (473.13) | (429.33) | (391.71) | (368.56) | (366.29) | (356.57) | (317.72) | (303.59) | (325.12) | (324.60) | (348.38) |
| Total Stockholder Equity* | 32.67 | 37.95 | 41.53 | 51.27 | 56.07 | 5.61 | (0.31) | 9.05 | 11.31 | 22.49 | (12.90) | 1.24 | (17.67) | (24.54) | (63.36) |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 15.65 | 12.68 | 11.00 | 7.33 | 8.42 | 8.51 | 7.88 | 8.50 | 9.03 | 8.18 | 9.42 | 9.04 | 6.01 | 7.35 | 10.70 | 9.92 | 8.10 | 0.00 | 0.00 | 0.00 |
| Cost of Revenue* | 12.88 | 9.18 | 8.88 | 3.85 | 4.53 | 4.96 | 5.60 | 5.24 | 5.50 | 5.25 | 6.12 | 4.32 | 4.38 | 4.86 | 6.64 | 5.66 | 5.24 | -- | -- | -- |
| Gross Profit | 2.78 | 3.50 | 2.11 | 3.49 | 3.90 | 3.55 | 2.28 | 3.26 | 3.53 | 2.93 | 3.30 | 4.73 | 1.63 | 2.48 | 4.07 | 4.26 | 2.86 | -- | -- | -- |
| Total Operating Expenses | 9.15 | 8.42 | 6.76 | 7.37 | 21.95 | 7.98 | 11.25 | 6.08 | 5.53 | 16.42 | 5.39 | 6.66 | 8.05 | 5.78 | 5.03 | 4.46 | 4.59 | 0.40 | 0.50 | 0.30 |
| Operating Income | (6.37) | (4.92) | (4.65) | (3.88) | (18.05) | (4.44) | (8.96) | (2.81) | (2.00) | (13.49) | (2.09) | (1.94) | (6.43) | (3.29) | (0.96) | (0.20) | (1.73) | (0.40) | (0.50) | (0.30) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | 2.19 | 2.17 | 3.67 | 0.89 | 2.17 | 0.81 | 0.69 | 13.17 | 19.41 | 8.40 | 1.19 | 0.40 | 0.57 |
| Pretax Income | (6.74) | (5.28) | (4.92) | (4.67) | (18.38) | (4.80) | 7.32 | (8.06) | (4.15) | (16.49) | (2.27) | (4.03) | (7.16) | (8.58) | (14.14) | (5.18) | (12.50) | (0.52) | 37.44 | (26.06) |
| Net Income | (6.74) | (5.28) | (4.92) | (4.67) | (18.38) | (4.80) | 7.32 | (8.06) | (4.15) | (16.49) | (2.27) | (4.03) | (7.16) | (8.58) | (14.14) | (5.18) | (12.50) | (0.52) | 37.44 | (26.06) |
| Basic EPS | (5.53) | (8.89) | (8.98) | (17.85) | 0.56 | (0.26) | (8.38) | (0.39) | (0.26) | (1.75) | (0.20) | (0.36) | 0.37 | (4.30) | (4.23) | (1.55) | 0.58 | 0.05 | 0.02 | -- |
| Diluted EPS | (5.49) | (8.89) | (8.98) | (17.85) | 0.61 | (0.26) | (8.43) | (0.39) | (0.26) | (1.75) | (0.20) | (0.36) | 0.37 | (4.30) | (4.23) | (1.55) | 0.37 | (0.02) | 0.01 | (0.03) |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | (0.12) | (2.93) | 1.23 | (4.16) | (2.50) | (0.67) | (10.62) | (3.46) | 0.75 | (3.82) | 1.44 | (0.20) | (0.54) | (2.63) | 0.51 | 0.05 | (2.10) | -0.00 | (0.16) | (0.23) |
| Capital Expenditures | -- | -- | 0.57 | 0.21 | -- | -- | 2.56 | -- | -- | -- | 0.11 | 0.71 | 2.42 | 1.12 | 1.43 | 0.97 | -- | -- | -- | -- |
| Free Cash Flow* | -- | -- | 0.66 | (4.37) | -- | -- | (13.18) | -- | -- | -- | 1.32 | (0.92) | (2.97) | (3.75) | (0.91) | (0.92) | -- | -- | -- | -- |
| Investing Cash Flow | 0.14 | (0.44) | (0.57) | (0.06) | (5.62) | (7.74) | (2.56) | -- | (0.10) | (0.75) | (0.11) | (0.71) | (2.25) | (1.14) | (1.43) | (1.12) | -- | -- | -- | -- |
| Financing Cash Flow | (0.54) | (0.47) | (0.87) | 7.15 | (4.50) | (0.69) | 36.77 | 2.63 | (0.56) | 5.65 | (1.23) | 0.37 | 2.05 | 4.30 | 0.16 | (0.10) | 5.13 | 0.00 | 0.16 | 0.22 |
* Derived from reported values