Alternus Clean Energy Reports $892,000 Net Loss and No Revenue for Q1 2026

Alternus Clean Energy, Inc. reported a net loss of $892,000 for the three months ended March 31, 2026, compared to a loss of $180,000 during the same period in 2025. The company did not generate any revenue during this quarter, maintaining the same trend as the previous year. Operating expenses decreased to $1.8 million from $1.5 million, primarily due to reduced selling, general, and administrative expenses, which fell from $1.49 million to $1.32 million. The increase in depreciation, amortization, and accretion expenses from $130,000 to $477,000 was attributed to the amortization of intangible assets acquired in the EverOn Energy LLC acquisition.

Significant changes in the company's financial position were noted, with total assets decreasing slightly to $56.9 million from $57.0 million at the end of 2025. Current liabilities also saw a reduction from $34.0 million to $25.8 million, largely due to a decrease in convertible notes measured at fair value and other payables. Shareholders' equity increased to $30.7 million from $23.0 million, driven by the issuance of new preferred shares and a gain on the settlement of debt.

Strategically, Alternus Clean Energy has been active in restructuring its debt and enhancing its capital structure. The company issued 9,733 shares of Series D Convertible Preferred Stock and 684 shares of Series E Convertible Preferred Stock during the quarter, raising approximately $1.9 million. Additionally, the company entered into a term sheet for preferred equity financing of up to $20 million and a preliminary term sheet for an equity line of credit facility providing access to $50 million over the next three years. These initiatives are aimed at improving liquidity and supporting ongoing operations.

Operationally, the company continues to focus on its joint venture, EverOn Energy, which aims to develop and operate Wind Powered Microgrids for commercial clients. As of March 31, 2026, the company had 13 employees, with plans to expand its workforce as it grows its operations. The company is also exploring geographic expansion and partnerships to enhance its market presence in the renewable energy sector.

Looking ahead, management expressed concerns about the company's ability to continue as a going concern without additional financing, given its current working capital deficiency and accumulated deficits. The company aims to achieve EBITDA profitability by 2028, contingent on successful execution of its sales pipeline and financing strategies. The ongoing geopolitical tensions and economic conditions, including inflation and interest rates, may impact the company's operations and financial performance in the near term.