ADVENT TECHNOLOGIES HOLDINGS, INC. SEC 10-Q Report

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2025.11.17 21:43
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Advent Technologies Holdings, Inc. released its Q3 2025 SEC 10-Q report, showing a revenue decrease to $62K for the quarter and $293K for nine months, due to reduced sales. Despite a gross loss, net income improved to $8,625K for the quarter, driven by other income from liability settlements. The company aims for profitability through product development and financing operations via equity and debt securities.

Advent Technologies Holdings, Inc., a leading provider of fuel cell systems and components, has released its Form 10-Q report for the third quarter of 2025. The report highlights significant financial and operational metrics, reflecting the company's performance and strategic direction in the fuel cell industry.

Financial Highlights

  • Revenue, net: $62 thousand for the three months ended September 30, 2025, and $293 thousand for the nine months ended September 30, 2025, reflecting a significant decrease compared to the same periods in 2024 due to reduced sales of goods and services.
  • Gross income (loss): $(375) thousand for the three months ended September 30, 2025, and $(848) thousand for the nine months ended September 30, 2025, indicating a negative gross margin primarily due to higher cost of revenues.
  • Operating loss: $(2,374) thousand for the three months ended September 30, 2025, and $(8,237) thousand for the nine months ended September 30, 2025, driven by high administrative and selling expenses despite income from grants.
  • Net income (loss) from continuing operations: $8,625 thousand for the three months ended September 30, 2025, and $1,554 thousand for the nine months ended September 30, 2025, primarily due to other income from the settlement of liabilities.
  • Net income (loss): $8,625 thousand for the three months ended September 30, 2025, and $1,554 thousand for the nine months ended September 30, 2025, reflecting a turnaround from losses in the prior year due to significant other income.
  • Basic income (loss) per share from continuing operations: $3.06 for the three months ended September 30, 2025, and $0.57 for the nine months ended September 30, 2025, showing improved earnings per share compared to the previous year.
  • Diluted income/(loss) per share: $2.92 for the three months ended September 30, 2025, and $0.56 for the nine months ended September 30, 2025, indicating a positive shift in diluted earnings per share.

Business Highlights

  • Revenue Segments: Advent Technologies Holdings, Inc. reported revenue from the sale of fuel cell systems and components, including Membrane Electrode Assemblies (MEAs), membranes, and electrodes. The company also generates revenue from research and development activities, which contribute to the development and sale of fuel cell products.
  • Geographical Performance: The company’s revenue is primarily derived from North America and Europe. For the nine months ended September 30, 2025, North America contributed $175,000 in revenue, while Europe contributed $118,000. This indicates a stronger performance in North America compared to Europe.
  • Future Outlook: Advent Technologies Holdings, Inc. is focused on transitioning to profitability and positive cash flow, which is highly dependent on the successful development, approval, and commercialization of its products. The company plans to finance its operations through the sale of equity and/or debt securities and short-term and long-term loans until it generates sufficient revenue to fund its operations.

SEC Filing: ADVENT TECHNOLOGIES HOLDINGS, INC. [ ADNH ] - 10-Q - Nov. 17, 2025

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