Advent Tech Holdings - CW26 | 10-K: FY2024 Revenue: USD 3.276 M

Revenue: As of FY2024, the actual value is USD 3.276 M.

EPS: As of FY2024, the actual value is USD -15.65.

EBIT: As of FY2024, the actual value is USD -18.37 M.

Total revenue from continuing operations increased by approximately $1.7 million or 113.3% from approximately $1.5 million in the year ended December 31, 2023, to approximately $3.3 million in the year ended December 31, 2024.

Net Loss: The net loss from continuing operations was $30.0 million for the year ended December 31, 2024, compared to $50.9 million for the year ended December 31, 2023, representing a decrease of $20.9 million or 41.0%.
Gross Profit: Gross profit was $1.8 million for the year ended December 31, 2024, compared to a gross loss of $5.4 million for the year ended December 31, 2023.
Research and Development Expenses: These expenses were approximately $3.2 million in the year ended December 31, 2024, compared to $7.6 million in the year ended December 31, 2023, a decrease of $4.3 million or 57.4%.
Administrative and Selling Expenses: These expenses were approximately $14.3 million in the year ended December 31, 2024, compared to $28.8 million in the year ended December 31, 2023, a decrease of $14.5 million or 50.3%.

Net Cash Provided by Operating Activities: Net cash provided by operating activities from continuing operations was approximately $1.4 million for the year ended December 31, 2024, compared to net cash used in operating activities of - $21.0 million for the year ended December 31, 2023.
Net Cash Provided by Investing Activities: Net cash provided by investing activities from continuing operations was approximately $1.2 million for the year ended December 31, 2024, compared to net cash used in investing activities of - $5.3 million for the year ended December 31, 2023.
Net Cash Provided by Financing Activities: Net cash provided by financing activities from continuing operations was approximately $0.9 million for the year ended December 31, 2024, compared to $9.1 million for the year ended December 31, 2023.

Credit Loss – Customer Contracts: Recognized credit losses on customer contracts of $3.6 million during the year ended December 31, 2024, which was an increase of $2.6 million from December 31, 2023.
Impairment Losses: Recognized impairment losses of $9.8 million in 2023, primarily related to goodwill and other intangible assets from the UltraCell and SerEnergy and FES acquisitions.

The company anticipates substantial increased demand for its fuel cell systems and MEAs as it scales up its production facilities and testing capabilities. It expects both existing customers to increase order volume and to generate substantial new orders from major organizations.