Nuvve Holding Corp. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2026. The company generated total revenue of $1.23 million for the quarter, a substantial increase of 268% compared to $0.33 million in the same period last year. This growth was primarily driven by a $0.77 million rise in product sales, attributed to increased customer orders and shipments, alongside $0.18 million in grants. For the first half of 2026, total revenue reached $2.62 million, up 110% from $1.25 million in the prior year, reflecting similar trends in product and service revenue.
Despite the revenue growth, Nuvve reported an operating loss of $7.45 million for the quarter, a 50% improvement from the $14.80 million loss in the same quarter of 2025. The reduction in operating loss was aided by a decrease in total operating expenses, which fell by 43% to $8.67 million, down from $15.13 million year-over-year. The company noted that selling, general, and administrative expenses decreased significantly, primarily due to the absence of prior year expenses related to the fair value of warrants issued for cryptocurrency consulting services.
Operationally, Nuvve has made strides in expanding its market presence and product offerings. The company has consolidated its position in the electric vehicle (EV) charging sector through strategic partnerships and the establishment of subsidiaries, including Nuvve New Mexico LLC and Fermata Energy II LLC. The company’s backlog as of June 30, 2026, was estimated at $5.3 million, expected to be recognized as revenue in the coming years. Additionally, Nuvve has been actively involved in various projects, including a cooperation agreement with Omnia Group Holdings AG, which aims to enhance its energy storage capabilities in Europe.
Looking ahead, Nuvve's management has expressed a cautious outlook, emphasizing the need for additional funding to support ongoing operations and repay existing debts. As of June 30, 2026, the company had a cash balance of $0.5 million and a working capital deficit of $8.9 million. The company is currently exploring various avenues for capital raising, including potential equity offerings and debt financing, to ensure it can continue its operations and achieve profitability. However, the recent delisting from Nasdaq and transition to OTC markets may pose challenges in securing necessary funding.
About Nuvve Holding Corp.
Nuvve Holding Corp. specializes in grid modernization through proprietary vehicle-to-grid (V2G) technology that integrates electric vehicle (EV) and stationary batteries into virtual power plants. Its cloud-based GIVe platform manages bidirectional energy flow, enabling grid services, demand response, and energy optimization. Serving fleet operators, utilities, OEMs, and charge point providers worldwide, the company enhances energy resilience, reduces EV ownership costs, and supports clean energy transition with scalable, patent-protected solutions.
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