Abpro Holdings Reports Increased Net Losses and Faces Nasdaq Compliance Challenges

Abpro Holdings, Inc. reported a net loss of $2.98 million for the three months ended June 30, 2025, compared to a loss of $2.44 million for the same period in 2024. For the six months ended June 30, 2025, the company experienced a net loss of $6.87 million, significantly higher than the $1.80 million loss reported in the prior year. The increase in losses is attributed to a rise in general and administrative expenses, which grew by 35% to $4.58 million for the six-month period, primarily due to costs associated with operating as a public company. Research and development expenses decreased by 65% to $638,000, reflecting reduced activity as personnel were largely on furlough since October 2024.

The company’s total operating expenses remained flat at $5.22 million for the six months ended June 30, 2025, compared to the same period in 2024. Abpro did not generate any revenue during either of the reported periods, emphasizing its reliance on future product development and regulatory approvals for potential income. As of June 30, 2025, the company had an accumulated deficit of $122.97 million, up from $116.10 million at the end of 2024.

In terms of operational developments, Abpro's cash and restricted cash totaled $2.03 million as of June 30, 2025, a decrease from $2.99 million at the beginning of the year. The company has been actively seeking additional funding through equity and debt financing, as well as collaboration agreements, to support its ongoing operations and product development. Notably, the company issued convertible notes totaling $2 million in June 2025, which were fully converted into shares in July 2025, further diluting existing shareholders.

Abpro is currently facing challenges related to its compliance with Nasdaq listing requirements. The company received notices indicating it no longer meets the minimum bid price and market value of publicly held shares necessary for continued listing. It has until October 2025 to regain compliance, or it risks delisting. The company’s future viability is contingent on its ability to raise additional capital, as it anticipates continued operating losses and negative cash flows in the foreseeable future. Management has expressed substantial doubt regarding the company's ability to continue as a going concern without securing further funding.