Nuvve Raises $8.1M, Achieves 24.2% Q4 Gross Margin with $1.9M Revenue
Nuvve generated $8.1M in gross proceeds in Q4 2025 through private preferred stock, warrant exercises and debt, boosting year-end cash to $5.5M from $0.4M. Q4 revenue rose to $1.9M with gross margins improving to 24.2%, while cash operating losses narrowed to $1.5M as operating expenses fell.
1. Financial Highlights
In Q4 2025 Nuvve raised $8.1M through private preferred stock, warrant exercises and debt, ending the year with $5.5M cash versus $0.4M a year earlier. Total revenues increased to $1.9M with gross margins expanding to 24.2%, cash operating losses narrowed to $1.5M and operating expenses fell by $2.2M.
2. Inventory Impairment Charge
The company identified reliability issues with certain 125 kW V2G DC chargers purchased from a former third-party supplier and recognized a $3.47M inventory impairment, writing the carrying value of those inventories to zero and reflecting the loss as a separate line item due to its materiality.
3. Strategic Pivot and Outlook
Disappointed by slow EV adoption in the school bus market, Nuvve is shifting focus to stationary storage aggregation services, reporting an increased pipeline and backlog for battery projects in North America, Europe and Japan that management expects will drive platform scaling and future revenue growth.