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ADNWW

Advent Technologies Holdings, Inc.

ADNWW

Advent Technologies Holdings, Inc. • NASDAQ
$0.00 ▼ -55.00% (-0.00)
Market Cap $2450
52w High $0.00
52w Low $0.00
Dividend Yield 0%
P/E 0
Volume 519.46K
Outstanding Shares 2.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $62K ▼ $-9M ▼ $8.625M ▲ 13.911K% ▲ $3.06 ▲ $8.804M ▲
Q2-2025 $99K ▼ $2.632M ▼ $-3.797M ▼ -3.835K% ▼ $-1.42 ▼ $-2.715M ▲
Q1-2025 $132K ▲ $2.758M ▼ $-3.274M ▼ -2.48K% ▼ $-1.24 ▼ $-2.743M ▲
Q4-2024 $-244K ▼ $7.914M ▲ $-1.843M ▲ 755.328% ▲ $-0.29 ▲ $-8.317M ▼
Q3-2024 $128K $7.719M $-18.522M -14.47K% $-3.65 $-7.885M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $468K ▲ $6.676M ▼ $24.459M ▼ $-17.783M ▲
Q2-2025 $75K ▼ $6.69M ▼ $36.112M ▲ $-29.422M ▼
Q1-2025 $329K ▼ $7.174M ▼ $31.856M ▲ $-24.682M ▼
Q4-2024 $381K ▲ $8.007M ▲ $29.302M ▲ $-21.295M ▼
Q3-2024 $192K $7.329M $25.403M $-18.074M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $8.625M ▲ $264K ▲ $23K ▼ $-893K ▼ $393K ▲ $287K ▲
Q2-2025 $-3.797M ▼ $-1.441M ▼ $24K ▲ $1.107M ▲ $-254K ▼ $-1.441M ▼
Q1-2025 $-3.274M ▼ $282K ▲ $-29K ▼ $-214K ▼ $-52K ▼ $277K ▲
Q4-2024 $-770K ▲ $-1.384M ▼ $901K ▲ $568K ▲ $189K ▲ $-1.392M ▼
Q3-2024 $-9.615M $-419K $-29K $-540K $-490K $-419K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Sales of goods
Sales of goods
 $0 ▲$0 ▲$0 ▲$0 ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Advent is still essentially a pre‑revenue company, with only token sales in prior years and nothing material showing up yet. The income statement is dominated by operating expenses – mainly development and overhead – which drive steady losses year after year. Those losses have been sizable relative to the company’s small scale, and earnings per share are deeply negative. In plain terms, the business is still in the build‑out and validation phase, not yet in a commercial revenue phase that can support its cost base.

Balance Sheet

Balance Sheet The balance sheet is very light, reflecting a small, early‑stage operation. Total assets have shrunk from earlier years, cash has come down sharply, and there is only a modest amount of debt. The most notable change is that accumulated losses have now pushed shareholder equity into negative territory, meaning the company owes more than its recorded net assets are worth. That typically signals a fragile financial position and a high reliance on new capital injections or partners to keep funding operations.

Cash Flow

Cash Flow Cash flow is consistently negative from operations, showing that the business burns cash rather than generating it. Free cash flow is also negative each year, though spending on equipment and facilities has not been especially heavy lately. This suggests that most of the cash use is going into people, R&D, and general overhead rather than large physical assets. Until meaningful, recurring revenue arrives or costs are cut, the company’s survival hinges on its ability to secure external funding, grants, or upfront payments from partners.

Competitive Edge

Competitive Edge On the technology and partnership side, Advent stands out much more positively than its current financials suggest. Its high‑temperature fuel cell platform, broad patent portfolio, and exclusive access to key membrane technology create real technical differentiation. Partnerships with large industrial and aerospace names give external validation and potential future sales channels. However, the company operates in an intensely competitive, capital‑hungry clean‑energy space, where many well‑funded players are pursuing fuel cells and hydrogen solutions. Its competitive strength will ultimately depend on converting pilot projects and joint developments into scaled, profitable contracts before cash constraints become binding.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of Advent’s story. The company is pushing forward with next‑generation fuel cell components that aim for higher power density and lower cost, exploring demanding use cases from aviation and maritime to defense and even space. Its R&D efforts are backed by a sizable patent estate and various government and corporate collaborations, and it has invested in a facility intended to bridge the gap between lab prototypes and manufacturing. The trade‑off is that this R&D intensity is costly and has not yet translated into stable revenues, so the pay‑off from these projects remains uncertain in timing and scale.

Summary

Overall, Advent looks like a high‑risk, early‑stage hydrogen fuel cell innovator: technologically ambitious, commercially nascent, and financially fragile. The story is driven far more by future potential than by today’s revenue or profits. On the positive side, the company has differentiated technology, credible partners, and a pipeline of advanced R&D projects that could put it in attractive niches where batteries are less practical. On the risk side, it has minimal current sales, persistent losses, negative equity, and ongoing cash burn, all in a sector that requires substantial capital and faces regulatory and adoption uncertainties. Key things to watch are evidence of recurring commercial orders from its flagship partnerships, progress toward scaling production, and any moves to strengthen the balance sheet and extend the cash runway.