Advent Technologies Holdng Inc Financials
Advent Technologies Holdng Inc (ADN) reported $3.3M in revenue for fiscal year 2024, up 113.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A smaller operating footprint restored gross margin, but the business is still constrained by severe short-term funding pressure.
FY2024 produced$1.4M of operating cash flow even with an operating loss of-$18.4M , a gap that usually means cash came from working-capital release or balance-sheet shrinkage rather than profitable operations. That reading fits the rest of the data: total assets fell to$8.0M while current liabilities climbed to$28.8M , so the cash improvement arrived alongside a much tighter funding position.
The business did regain a positive gross spread: gross margin moved from
Liquidity weakened faster than expenses improved, with cash falling from
Financial Health Signals
Scored against emerging companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Advent Technologies Holdng Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Advent Technologies Holdng Inc, and counted as zero in the overall score.
Not available for Advent Technologies Holdng Inc, and counted as zero in the overall score.
Advent Technologies Holdng Inc scores -49.39, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($8.2M) relative to total liabilities ($29.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Advent Technologies Holdng Inc passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). All 1 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Advent Technologies Holdng Inc reported an operating loss of $18.4M against $535K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Advent Technologies Holdng Inc generated $3.3M in revenue in fiscal year 2024. This represents an increase of 113.3% from the prior year.
Advent Technologies Holdng Inc's EBITDA was -$16.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 65.2% from the prior year.
Advent Technologies Holdng Inc earned -$15.65 per diluted share (EPS) in fiscal year 2024. This represents an increase of 58.0% from the prior year.
Not reported for fiscal year 2024.
Cash & Balance Sheet
Advent Technologies Holdng Inc held $381K in cash as of fiscal year 2024; long-term debt is not reported for that period.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
Margins & Returns
Advent Technologies Holdng Inc's gross margin was 54.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. No change is given against fiscal year 2023: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2024: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
Capital Allocation
Advent Technologies Holdng Inc invested $3.2M in research and development in fiscal year 2024. This represents a decrease of 57.4% from the prior year.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
ADN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $62K-37.4% | $99K-25.0% | $132K | N/A | $128K-80.4% | $654K-76.1% | $2.7M+81.8% | $1.5M |
| Cost of Revenue | $437K+11.5% | $392K+25.6% | $312K | N/A | $336K+304.8% | $83K-82.6% | $477K-96.2% | $12.4M |
| Gross Profit | -$375K-28.0% | -$293K-62.8% | -$180K | N/A | -$208K-136.4% | $571K-74.7% | $2.3M+120.7% | -$10.9M |
| R&D Expenses | $229K-33.0% | $342K-3.9% | $356K | N/A | $411K-40.9% | $695K-50.9% | $1.4M-64.2% | $4.0M |
| SG&A Expenses | N/A | N/A | $2.3M | N/A | $3.1M-50.8% | $6.4M+2.9% | $6.2M-8.0% | $6.7M |
| Operating Income | -$2.4M+18.8% | -$2.9M+0.4% | -$2.9M | N/A | -$7.9M-396.6% | $2.7M+161.2% | -$4.4M+83.0% | -$25.7M |
| Interest Expense | -$685K-110.8% | -$325K-33.2% | -$244K | N/A | -$14K+74.1% | -$54K+76.7% | -$232K-427.3% | -$44K |
| Income Tax | $0 | $0-100.0% | $1K | N/A | $0 | $0+100.0% | -$55K-5400.0% | -$1K |
| Net Income | $8.6M+327.2% | -$3.8M-16.0% | -$3.3M | N/A | -$18.5M-64.3% | -$11.3M-20.5% | -$9.4M+63.6% | -$25.7M |
| EPS (Diluted) | $2.92+305.6% | -$1.42-14.5% | -$1.24 | N/A | -$7.03-64.3% | -$4.28-18.2% | -$3.62+69.9% | -$12.04 |
ADN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.7M-0.2% | $6.7M-6.7% | $7.2M-10.4% | $8.0M+9.3% | $7.3M-49.0% | $14.4M-55.3% | $32.2M-7.4% | $34.7M |
| Current Assets | $1.8M+18.4% | $1.5M-22.7% | $2.0M-27.3% | $2.7M+89.1% | $1.4M-79.4% | $6.9M-4.3% | $7.2M-18.2% | $8.8M |
| Cash & Equivalents | $468K+524.0% | $75K-77.2% | $329K-13.6% | $381K+98.4% | $192K-71.8% | $682K-11.9% | $774K-75.8% | $3.2M |
| Inventory | $50K0.0% | $50K-78.1% | $228K+2750.0% | $8K-91.8% | $97K-95.1% | $2.0M-4.4% | $2.1M+965.1% | $195K |
| Accounts Receivable | $87K+29.9% | $67K-52.5% | $141K-85.3% | $962K+251.1% | $274K-70.3% | $922K-15.0% | $1.1M+1622.2% | $63K |
| Total Liabilities | $24.5M-32.3% | $36.1M+13.4% | $31.9M+8.7% | $29.3M+15.3% | $25.4M+47.3% | $17.2M-33.8% | $26.1M+22.5% | $21.3M |
| Current Liabilities | $17.8M-39.3% | $29.4M-5.5% | $31.1M+7.9% | $28.8M+14.4% | $25.1M+59.4% | $15.8M-8.6% | $17.3M+44.9% | $11.9M |
| Total Equity | -$17.8M+39.6% | -$29.4M-19.2% | -$24.7M-15.9% | -$21.3M-17.8% | -$18.1M-527.8% | -$2.9M-147.4% | $6.1M-54.8% | $13.4M |
| Retained Earnings | -$218.6M+3.8% | -$227.2M-1.7% | -$223.4M-1.5% | -$220.2M-0.8% | -$218.3M-9.3% | -$199.8M-6.0% | -$188.5M-5.2% | -$179.2M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
ADN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $264K+118.3% | -$1.4M-611.0% | $282K+116.7% | -$1.7M-123.8% | $7.1M+606.0% | -$1.4M+46.1% | -$2.6M-117.0% | $15.3M |
| Investing Cash Flow | -$1K | $0+100.0% | -$29K-103.1% | $939K | $0-100.0% | $301K+1137.9% | -$29K-103.8% | $762K |
| Financing Cash Flow | $1.2M+10.7% | $1.1M+617.3% | -$214K-137.7% | $568K | $0-100.0% | $156K+23.8% | $126K-96.5% | $3.6M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
ADN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -604.8% | -296.0% | -136.4% | N/A | -162.5% | 87.3%+4.7pp | 82.6% | -726.2% |
| Operating Margin | -3829.0% | -2954.6% | -2225.8% | N/A | -6193.0% | 408.7% | -159.4% | -1706.5% |
| Net Margin | 13911.3% | -3835.3% | -2480.3% | N/A | -14470.3% | -1723.7% | -341.7% | -1708.6% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | -153.9%+37.4pp | -191.3% |
| Return on Assets | 129.2%+186.0pp | -56.8%-11.1pp | -45.6% | N/A | -252.7%-174.3pp | -78.5%-49.4pp | -29.1%+45.0pp | -74.1% |
| Current Ratio | 0.100.0x | 0.050.0x | 0.060.0x | 0.090.0x | 0.06-0.4x | 0.440.0x | 0.42-0.3x | 0.74 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | 4.29+2.7x | 1.58 |
Not reported in any period shown, so not listed: FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin.
Note: Shareholder equity is negative (-$21.3M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.09), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Advent Technologies Holdng Inc Ranks
Frequently Asked Questions
What is Advent Technologies Holdng Inc's annual revenue?
Advent Technologies Holdng Inc (ADN) reported $3.3M in total revenue for fiscal year 2024. This represents a 113.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Advent Technologies Holdng Inc's revenue growing?
Advent Technologies Holdng Inc (ADN) revenue grew by 113.3% year-over-year, from $1.5M to $3.3M in fiscal year 2024.
What is Advent Technologies Holdng Inc's EBITDA?
Advent Technologies Holdng Inc (ADN) had EBITDA of -$16.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Advent Technologies Holdng Inc's gross margin?
Advent Technologies Holdng Inc (ADN) had a gross margin of 54.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Advent Technologies Holdng Inc's operating cash flow?
Advent Technologies Holdng Inc (ADN) generated $1.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Advent Technologies Holdng Inc's total assets?
Advent Technologies Holdng Inc (ADN) had $8.0M in total assets as of fiscal year 2024, including both current and long-term assets.
How much does Advent Technologies Holdng Inc spend on research and development?
Advent Technologies Holdng Inc (ADN) invested $3.2M in research and development during fiscal year 2024.
What is Advent Technologies Holdng Inc's current ratio?
Advent Technologies Holdng Inc (ADN) had a current ratio of 0.09 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
Why is Advent Technologies Holdng Inc's debt-to-equity ratio negative or not reported?
Advent Technologies Holdng Inc (ADN) has negative shareholder equity of -$21.3M as of fiscal year 2024, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Advent Technologies Holdng Inc's Altman Z-Score?
Advent Technologies Holdng Inc (ADN) has an Altman Z-Score of -49.39, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Advent Technologies Holdng Inc's Piotroski F-Score?
Advent Technologies Holdng Inc (ADN) has a Piotroski F-Score of 3 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Can Advent Technologies Holdng Inc cover its interest payments?
Advent Technologies Holdng Inc (ADN) reported an operating loss of $18.4M against $535K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Advent Technologies Holdng Inc?
Advent Technologies Holdng Inc (ADN) scores 29 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.