GREENWAVE TECHNOLOGY SOLUTIONS INC Financials

GWAV

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

This page shows GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).

Financial Health Signals

Financial Profile 27/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

GREENWAVE TECHNOLOGY SOLUTIONS INC has an operating margin of -102.8%, meaning the company retains $-103 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -54.7% the prior year.

Growth

GREENWAVE TECHNOLOGY SOLUTIONS INC's revenue declined 6.6% year-over-year, from $35.7M to $33.3M. This contraction results in a growth score of 10/100.

Leverage

100

GREENWAVE TECHNOLOGY SOLUTIONS INC carries a low D/E ratio of 0.12, meaning only $0.12 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

GREENWAVE TECHNOLOGY SOLUTIONS INC's current ratio of 0.36 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Piotroski F-Score Neutral

4/9

GREENWAVE TECHNOLOGY SOLUTIONS INC passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.72x

For every $1 of reported earnings, GREENWAVE TECHNOLOGY SOLUTIONS INC generates $0.72 in operating cash flow (-$17.3M OCF vs -$23.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-6.4x

GREENWAVE TECHNOLOGY SOLUTIONS INC earns $-6.4 in operating income for every $1 of interest expense (-$34.3M vs $5.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$33.3M

YoY-6.6%

5Y CAGR+326.2%

10Y CAGR+127.4%

GREENWAVE TECHNOLOGY SOLUTIONS INC generated $33.3M in revenue in fiscal year 2024. This represents a decrease of 6.6% from the prior year.

EBITDA

-$26.9M

YoY-96.5%

GREENWAVE TECHNOLOGY SOLUTIONS INC's EBITDA was -$26.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 96.5% from the prior year.

Free Cash Flow

N/A

Net Income

-$23.9M

YoY+11.2%

GREENWAVE TECHNOLOGY SOLUTIONS INC reported -$23.9M in net income in fiscal year 2024. This represents an increase of 11.2% from the prior year.

EPS (Diluted)

$-8.47

YoY+97.8%

GREENWAVE TECHNOLOGY SOLUTIONS INC earned $-8.47 per diluted share (EPS) in fiscal year 2024. This represents an increase of 97.8% from the prior year.

Cash & Debt

$2.6M

YoY+66.6%

5Y CAGR+370.3%

10Y CAGR+33.6%

GREENWAVE TECHNOLOGY SOLUTIONS INC held $2.6M in cash against $4.3M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

237,191

YoY+109.7%

GREENWAVE TECHNOLOGY SOLUTIONS INC had 237,191 shares outstanding in fiscal year 2024. This represents an increase of 109.7% from the prior year.

Gross Margin

39.0%

YoY-1.6pp

10Y CAGR-53.4pp

GREENWAVE TECHNOLOGY SOLUTIONS INC's gross margin was 39.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 1.6 percentage points from the prior year.

Operating Margin

-102.8%

YoY-48.1pp

5Y CAGR+14433.0pp

GREENWAVE TECHNOLOGY SOLUTIONS INC's operating margin was -102.8% in fiscal year 2024, reflecting core business profitability. This is down 48.1 percentage points from the prior year.

Net Margin

-71.8%

YoY+3.7pp

5Y CAGR+144504.5pp

10Y CAGR+26906.5pp

GREENWAVE TECHNOLOGY SOLUTIONS INC's net profit margin was -71.8% in fiscal year 2024, showing the share of revenue converted to profit. This is up 3.7 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

GWAV Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$33.3M-6.6%	$35.7M+5.0%	$34.0M+319.6%	$8.1M+116184.3%	$7K-70.6%	$24K
Cost of Revenue	$20.3M-4.1%	$21.2M-1.6%	$21.5M+311.1%	$5.2M+408199.5%	$1K	N/A
Gross Profit	$13.0M-10.3%	$14.5M+16.4%	$12.4M+335.1%	$2.9M+50235.4%	$6K	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$34.3M-75.6%	-$19.5M-79.3%	-$10.9M-271.7%	-$2.9M-152.3%	-$1.2M+66.3%	-$3.4M
Interest Expense	$5.4M-39.7%	$8.9M-73.9%	$34.1M+222.7%	$10.6M+105.5%	$5.1M+4.1%	$4.9M
Income Tax	$0	$0	N/A	N/A	N/A	N/A
Net Income	-$23.9M+11.2%	-$26.9M+23.1%	-$35.0M-2046.7%	-$1.6M+88.9%	-$14.7M+57.1%	-$34.3M
EPS (Diluted)	$-8.47+97.8%	$-385.81	$-9.71-2797.2%	$0.36+101.5%	$-23.99-12526.3%	$-0.19

Metric	Q2'25	Q1'25	Q3'24	Q4'23	Q2'24	Q1'24	Q4'22	Q3'23
Revenue	$11.0M+49.9%	$7.3M-13.8%	$8.5M-5.8%	$9.0M-4.1%	$9.4M+4.1%	$9.0M+50.6%	$6.0M-18.3%	$7.3M
Cost of Revenue	$8.9M+130.9%	$3.8M-22.4%	$5.0M-9.8%	$5.5M-10.1%	$6.1M+41.7%	$4.3M-1.4%	$4.4M-9.9%	$4.9M
Gross Profit	$2.1M-39.4%	$3.5M-1.7%	$3.5M+0.5%	$3.5M+6.9%	$3.3M-30.2%	$4.7M+190.7%	$1.6M-34.6%	$2.5M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$4.7M-19.8%	-$3.9M+12.5%	-$4.4M-121.4%	-$2.0M+4.1%	-$2.1M-8.0%	-$1.9M+69.9%	-$6.4M-95.1%	-$3.3M
Interest Expense	$1.3M+64.8%	$811K+124.6%	$361K-83.3%	$2.2M+143.0%	$892K-58.8%	$2.2M+166.2%	$814K+18.2%	$689K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$4.9M-5.4%	-$4.7M+2.7%	-$4.8M-15.5%	-$4.2M-83.4%	-$2.3M+43.7%	-$4.0M+43.7%	-$7.2M+16.6%	-$8.6M
EPS (Diluted)	$-8.98	$-17.85-6765.4%	$-0.26	$-92.55	$-30.20-8288.9%	$-0.36-197.3%	$0.37+108.6%	$-4.30

GWAV Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$63.1M+35.9%	$46.4M+11.9%	$41.5M+8.6%	$38.2M+38613.0%	$99K+3086.3%	$3K
Current Assets	$7.6M+184.1%	$2.7M+117.0%	$1.2M-62.9%	$3.3M+3286.1%	$99K+3086.3%	$3K
Cash & Equivalents	$2.6M+66.6%	$1.5M+88.1%	$822K-72.2%	$3.0M+199111.6%	$1K+32.6%	$1K
Inventory	$2.9M+1341.8%	$200K+5.7%	$190K-50.2%	$381K	N/A	N/A
Accounts Receivable	$1.3M+94.1%	$646K+200.3%	$215K	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	$2.5M	N/A	N/A
Total Liabilities	$26.1M-48.6%	$50.9M+94.7%	$26.1M-57.5%	$61.5M+62.6%	$37.8M+2.6%	$36.9M
Current Liabilities	$21.1M-47.9%	$40.5M+112.9%	$19.0M-68.0%	$59.5M+57.7%	$37.7M+2.3%	$36.9M
Long-Term Debt	$4.3M-81.7%	$23.4M+233.6%	$7.0M+27905.7%	$25K	N/A	N/A
Total Equity	$37.0M+929.7%	-$4.5M-129.0%	$15.3M+165.7%	-$23.3M+38.1%	-$37.7M-2.3%	-$36.9M
Retained Earnings	-$496.3M-25.4%	-$395.9M-9.3%	-$362.3M-21.4%	-$298.4M+0.9%	-$301.2M-58.9%	-$189.6M

Metric	Q2'25	Q1'25	Q3'24	Q4'23	Q2'24	Q1'24	Q4'22	Q3'23
Total Assets	$64.1M-5.0%	$67.5M-3.0%	$69.6M+49.9%	$46.4M+9.5%	$42.4M-3.3%	$43.8M+5.6%	$41.5M+3.1%	$40.2M
Current Assets	$10.0M-21.0%	$12.6M-36.1%	$19.8M+634.9%	$2.7M+102.1%	$1.3M+12.4%	$1.2M-4.5%	$1.2M-58.6%	$3.0M
Cash & Equivalents	$5.3M-3.8%	$5.5M-63.8%	$15.2M+883.1%	$1.5M+312.4%	$375K+35.8%	$276K-66.4%	$822K-47.6%	$1.6M
Inventory	$1.1M-75.0%	$4.6M+112.3%	$2.1M+970.3%	$200K+67.6%	$120K-75.8%	$493K+160.2%	$190K-73.6%	$718K
Accounts Receivable	$2.2M-2.8%	$2.3M+20.2%	$1.9M+193.1%	$646K+185.3%	$227K-37.0%	$360K+67.0%	$215K-68.0%	$673K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$2.5M
Total Liabilities	$26.2M+0.7%	$26.0M+42.0%	$18.3M-64.0%	$50.9M+52.7%	$33.3M+2.6%	$32.5M+24.3%	$26.1M+47.4%	$17.7M
Current Liabilities	$19.5M-2.9%	$20.1M+54.6%	$13.0M-67.9%	$40.5M+70.9%	$23.7M+5.3%	$22.5M+18.4%	$19.0M+39.5%	$13.6M
Long-Term Debt	$6.3M+21.9%	$5.2M+15.9%	$4.5M-80.9%	$23.4M+153.1%	$9.2M-5.3%	$9.7M+39.2%	$7.0M	N/A
Total Equity	$38.0M-8.6%	$41.5M-19.0%	$51.3M+1251.2%	-$4.5M-149.2%	$9.0M-20.0%	$11.3M-26.2%	$15.3M-31.8%	$22.5M
Retained Earnings	-$508.9M-1.0%	-$504.0M-5.4%	-$477.9M-20.7%	-$395.9M-7.4%	-$368.6M-0.6%	-$366.3M-1.1%	-$362.3M-1.6%	-$356.6M

GWAV Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$17.3M-841.2%	-$1.8M+29.7%	-$2.6M-4.9%	-$2.5M-139.7%	-$1.0M+42.3%	-$1.8M
Capital Expenditures	N/A	$1.8M-70.3%	$5.9M+2614.3%	$219K	N/A	N/A
Free Cash Flow	N/A	-$3.6M+57.9%	-$8.5M-215.8%	-$2.7M	N/A	N/A
Investing Cash Flow	-$15.9M-848.8%	-$1.7M+71.7%	-$5.9M-7543.0%	-$78K	N/A	$91K
Financing Cash Flow	$34.2M+707.6%	$4.2M-33.9%	$6.4M+16.1%	$5.5M+431.8%	$1.0M-38.1%	$1.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$28.9M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q1'25	Q3'24	Q4'23	Q2'24	Q1'24	Q4'22	Q3'23
Operating Cash Flow	$1.2M+129.6%	-$4.2M-520.0%	-$671K-189.1%	$754K-40.1%	$1.3M+716.7%	-$204K+62.4%	-$542K+79.4%	-$2.6M
Capital Expenditures	$571K+171.3%	$211K	N/A	N/A	$114K-84.0%	$712K-70.6%	$2.4M+117.0%	$1.1M
Free Cash Flow	$660K+115.1%	-$4.4M	N/A	N/A	$1.1M+224.8%	-$916K+69.1%	-$3.0M+20.9%	-$3.8M
Investing Cash Flow	-$571K-876.3%	-$59K+99.2%	-$7.7M-7610.6%	-$100K+12.0%	-$114K+84.0%	-$712K+68.4%	-$2.3M-98.0%	-$1.1M
Financing Cash Flow	-$870K-112.2%	$7.1M+1135.3%	-$690K-24.0%	-$556K+46.7%	-$1.0M-381.9%	$371K-81.9%	$2.0M-52.4%	$4.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

GWAV Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	39.0%-1.6pp	40.6%+4.0pp	36.6%+1.3pp	35.3%-46.3pp	81.6%	N/A
Operating Margin	-102.8%-48.1pp	-54.7%-22.7pp	-32.0%+4.1pp	-36.1%+16624.0pp	-16660.1%-2124.3pp	-14535.9%
Net Margin	-71.8%+3.7pp	-75.5%+27.6pp	-103.1%-83.0pp	-20.2%+211215.6pp	-211235.8%-66659.5pp	-144576.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-37.9%+20.1pp	-58.0%+26.5pp	-84.5%-80.2pp	-4.3%+14912.5pp	-14916.8%+1092317.9pp	-1107234.6%
Current Ratio	0.36+0.3	0.070.0	0.070.0	0.06+0.1	0.000.0	0.00
Debt-to-Equity	0.12+5.4	-5.24-5.7	0.46+0.5	-0.00+1.0	-1.000.0	-1.00
FCF Margin	N/A	-10.1%+15.1pp	-25.1%+8.3pp	-33.4%	N/A	N/A

Metric	Q2'25	Q1'25	Q3'24	Q4'23	Q2'24	Q1'24	Q4'22	Q3'23
Gross Margin	19.2%-28.3pp	47.5%+5.9pp	41.7%+2.6pp	39.1%+4.0pp	35.0%-17.2pp	52.3%+25.2pp	27.1%-6.8pp	33.8%
Operating Margin	-42.3%+10.6pp	-52.9%-0.8pp	-52.2%-30.0pp	-22.2%0.0pp	-22.2%-0.8pp	-21.4%+85.6pp	-107.0%-62.2pp	-44.8%
Net Margin	-44.7%+18.9pp	-63.6%-7.2pp	-56.4%-10.4pp	-46.0%-22.0pp	-24.1%+20.5pp	-44.5%+74.6pp	-119.1%-2.4pp	-116.8%
Return on Equity	13.1%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-7.7%-0.8pp	-6.9%0.0pp	-6.9%+2.0pp	-8.9%-3.6pp	-5.3%+3.8pp	-9.2%+8.1pp	-17.3%+4.1pp	-21.3%
Current Ratio	0.51-0.1	0.63-0.9	1.52+1.5	0.07+0.0	0.060.0	0.05-0.0	0.07-0.2	0.22
Debt-to-Equity	0.17+0.0	0.12+0.0	0.09+5.3	-5.24-6.3	1.02+0.2	0.86+0.4	0.46-0.3	0.79
FCF Margin	6.0%+65.6pp	-59.6%	N/A	N/A	12.2%+22.3pp	-10.1%+39.3pp	-49.4%+1.7pp	-51.0%

Note: The current ratio is below 1.0 (0.36), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's annual revenue?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) reported $33.3M in total revenue for fiscal year 2024. This represents a -6.6% 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 GREENWAVE TECHNOLOGY SOLUTIONS INC's revenue growing?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) revenue declined by 6.6% year-over-year, from $35.7M to $33.3M in fiscal year 2024.

Is GREENWAVE TECHNOLOGY SOLUTIONS INC profitable?

No, GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) reported a net income of -$23.9M in fiscal year 2024, with a net profit margin of -71.8%.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's earnings per share (EPS)?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) reported diluted earnings per share of $-8.47 for fiscal year 2024. This represents a 97.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's EBITDA?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had EBITDA of -$26.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does GREENWAVE TECHNOLOGY SOLUTIONS INC have?

As of fiscal year 2024, GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had $2.6M in cash and equivalents against $4.3M in long-term debt.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's gross margin?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had a gross margin of 39.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's operating margin?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had an operating margin of -102.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's net profit margin?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had a net profit margin of -71.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's operating cash flow?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) generated -$17.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are GREENWAVE TECHNOLOGY SOLUTIONS INC's total assets?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had $63.1M in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does GREENWAVE TECHNOLOGY SOLUTIONS INC have outstanding?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had 237,191 shares outstanding as of fiscal year 2024.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's current ratio?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had a current ratio of 0.36 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's debt-to-equity ratio?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had a debt-to-equity ratio of 0.12 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's return on assets (ROA)?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had a return on assets of -37.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's cash runway?

Based on fiscal year 2024 data, GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) had $2.6M in cash against an annual operating cash burn of $17.3M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is GREENWAVE TECHNOLOGY SOLUTIONS INC's Piotroski F-Score?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are GREENWAVE TECHNOLOGY SOLUTIONS INC's earnings high quality?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) has an earnings quality ratio of 0.72x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can GREENWAVE TECHNOLOGY SOLUTIONS INC cover its interest payments?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) has an interest coverage ratio of -6.4x, meaning it can struggle to cover its interest obligations. 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 GREENWAVE TECHNOLOGY SOLUTIONS INC?

GREENWAVE TECHNOLOGY SOLUTIONS INC (GWAV) scores 27 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.