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CREV

Carbon Revolution Public Limited Ordinary Shares

CREV

Carbon Revolution Public Limited Ordinary Shares • NASDAQ
$1.89 ▲ 4.42% (+0.08)
Market Cap $3.56 M
52w High $12.75
52w Low $1.48
Dividend Yield 0%
P/E -0.03
Volume 70.73K
Outstanding Shares 1.89M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2024 $18.651M ▼ $10.303M ▼ $-18.579M ▲ -99.614% ▲ $-7.58 ▲ $-14.624M ▲
Q1-2024 $18.747M ▲ $15.177M ▲ $-27.368M ▼ -145.982% ▼ $-11.17 ▼ $-14.7M ▼
Q4-2023 $10.15M ▲ $1.197M ▼ $250.99K ▲ 2.473% ▲ $0.022 ▲ $-1.197M ▲
Q3-2023 $10.078M ▲ $2.205M ▼ $-183.383K ▲ -1.82% ▲ $-0.01 ▲ $-2.205M ▲
Q2-2023 $8.972M $4.705M $-1.28M -14.266% $-0.048 $-4.684M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $3.705M ▼ $64.899M ▼ $251.862M ▲ $-186.963M ▼
Q2-2024 $26.931M $182.235M $218.982M $-36.747M
Q1-2024 $26.931M ▲ $182.235M ▲ $218.982M ▲ $-36.747M ▼
Q4-2023 $130.316K ▼ $66.029M ▼ $7.315M ▼ $58.715M ▲
Q3-2023 $29.152M $235.719M $212.3M $23.419M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2024 $-27.226M ▲ $-23.289M ▲ $-4.472M ▲ $33.689M ▼ $3.67M ▼ $-26.695M ▲
Q1-2024 $-27.368M ▼ $-23.41M ▼ $-4.495M ▼ $33.863M ▲ $3.689M ▲ $-26.833M ▼
Q4-2023 $250.99K ▲ $-198.957K ▲ $-240.817K ▼ $240.817K ▲ $-198.959K ▲ $-3.792M ▲
Q3-2023 $-183.383K ▲ $-1.147M ▼ $227.904M ▲ $-227.904M ▼ $-1.146M ▼ $-4.714M ▼
Q2-2023 $-1.28M $-234.977K $-4.197M $-2.876M $-234.977K $-3.181M

Five-Year Company Overview

Income Statement

Income Statement Revenue is still very small and growing only gradually, while costs remain much higher than sales. Gross margin has been consistently negative, meaning the company loses money on what it produces before even accounting for overhead. Operating losses have widened in the most recent year, suggesting the step‑up in scale, automation, and commercialization is not yet translating into operating efficiency. After a brief period of near break‑even performance, net results have moved back into sizeable losses. Overall, the income statement reflects an early‑stage, capital‑intensive manufacturing business that is still in the heavy investment and ramp‑up phase, rather than one generating sustainable profits.

Balance Sheet

Balance Sheet The balance sheet looks stretched. Total assets have trended down, and cash has been largely depleted, which limits financial flexibility unless new funding is raised. Debt has increased and now makes up a meaningful portion of the capital structure. Equity has swung from positive to negative, implying accumulated losses have eroded the company’s capital base and that the business is balance‑sheet‑insolvent on an accounting basis. This combination of higher leverage, low cash, and negative equity points to elevated financial risk and a strong dependence on external capital and successful execution of its growth plan.

Cash Flow

Cash Flow The company has not yet generated positive operating cash flow; it consistently spends more cash running the business than it brings in from customers. Free cash flow has been negative every year, reflecting both ongoing operating losses and continued investment in production capacity and technology. Capital spending, while not extreme, is persistent, indicating a commitment to building out manufacturing capabilities. Taken together, the cash flow profile is typical of a scaling industrial technology company but underscores ongoing funding needs and sensitivity to any delays in revenue ramp‑up or cost reductions.

Competitive Edge

Competitive Edge Carbon Revolution operates in a very specialized corner of the auto parts market, focusing on high‑performance carbon fiber wheels. Its differentiation comes from being an early mover in one‑piece carbon fiber wheel technology, with a reputation for quality and performance. Relationships with major global automakers give it credibility and a pipeline of programs that can last for many years. The technical complexity, testing requirements, and capital intensity of production create real barriers for new entrants. However, the company is still small relative to traditional wheel suppliers, is concentrated in a niche premium segment, and depends heavily on a limited number of OEM programs. This concentration makes it vulnerable to program delays, cancellations, and broader swings in performance or EV demand.

Innovation and R&D

Innovation and R&D Innovation is the core of the business model. The company has developed proprietary processes for making single‑piece carbon fiber wheels, supported by a large patent portfolio and rigorous testing regimes. Investment in automation, especially the “Mega‑line” production system, is aimed at turning this advanced technology into something that can be produced at scale and at lower cost. R&D is not just about wheel design but also about manufacturing methods that can unlock broader markets, including electric vehicles and, potentially, aerospace applications. The upside is a strong technological edge and expanding use cases; the risk is that high R&D and industrialization costs must be absorbed before volumes and pricing are sufficient to cover them.

Summary

Carbon Revolution is a technology‑heavy, niche auto parts manufacturer that appears to have strong product differentiation and meaningful intellectual property but is still very much in the build‑out phase financially. The income statement and cash flows show continuing losses and negative free cash flow, while the balance sheet has weakened to the point of negative equity and higher reliance on debt. On the strategic side, the company’s relationships with top‑tier automakers, its unique one‑piece carbon fiber wheel technology, and its patent portfolio provide a real competitive moat and potential for growth in performance, EV, and even aerospace markets. The key overarching themes are clear: strong technological and strategic positioning on one hand, and significant financial strain and execution risk on the other. Whether the company ultimately benefits from its opportunity set will depend on its ability to scale production, reduce unit costs, secure new programs, and maintain access to capital during this transition from development to commercialization.

NEWS

November 7, 2025 · 4:10 PM UTC

Carbon Revolution Announces Receipt of Non-Compliance Letter from Nasdaq

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October 31, 2025 · 9:25 AM UTC

Carbon Revolution secures further funding of $5 million from OIC, reports cancellation of two EV wheel programs

Read more