Charging Robotics Inc. Reports Q1 2025 Financial Results with Increased Net Loss and Operating Expenses

Charging Robotics Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $234,000, compared to a net loss of $198,000 in the same period last year. The company's operating expenses increased to $221,000 from $182,000, primarily driven by higher general and administrative costs, which rose to $149,000 from $119,000. Research and development expenses also saw a slight increase, totaling $72,000 compared to $63,000 in the prior year. The company has not generated any revenue during this period, maintaining its focus on product development.

In terms of financial position, Charging Robotics reported total assets of $460,000 as of March 31, 2025, up from $332,000 at the end of 2024. Current assets increased significantly to $389,000 from $259,000, largely due to a rise in cash reserves, which grew to $281,000 from $175,000. However, total liabilities also rose to $991,000 from $945,000, reflecting an increase in accounts payable and short-term loans. The company’s stockholders’ deficit improved slightly to $531,000 from $613,000, indicating a reduction in accumulated losses.

Strategically, the company has made notable advancements, including the issuance of 154,908 shares of common stock in a private placement offering, generating $255,000 in proceeds. Additionally, Charging Robotics has received initial orders for its wireless electric vehicle (EV) charging systems from three different automatic parking facility (APS) suppliers in Israel. The company is also in the process of relocating to a new office and production facility, which is expected to enhance its manufacturing capabilities.

Operationally, the company is focused on expanding its product offerings and market presence. The average selling price for its wireless charging systems is approximately $3,000, and the company anticipates regulatory approval for its product by the second quarter of 2026. As of March 31, 2025, the company had a negative working capital of $570,000, slightly improved from $654,000 at the end of 2024. The management has indicated that future capital requirements will depend on the successful commercialization of its products and the ability to secure additional funding.

Looking ahead, Charging Robotics acknowledges the challenges it faces, including the need for ongoing capital to support operations and product development. The company plans to continue raising funds from potential investors to sustain its operations, although it recognizes the uncertainty surrounding the availability of such funding. Management remains committed to enhancing its product offerings and operational capabilities while navigating the complexities of the market.