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Annual figures as reported in 10-K / 20-F / 40-F filings.
GWAV · CIK 0001589149

GREENWAVE TECHNOLOGY SOLUTIONS, INC.

Annual figures as reported, FY2014–FY2025. Ratios and growth rates derived on-page.

GWAV logo
Wholesale-Metals Service Centers & of fices
Company profile
Nasdaq · GWAVHQ Chesapeake, VAIncorporated in DEFiscal year ends Dec 31Non-accelerated filer Smaller reporting company
Revenue
$46.7M
▲ +40.1% vs FY2024
Net income
−$21.6M
▲ +9.7% vs FY2024
Free cash flow
−$3.6M
▲ +57.9% vs FY2022
Diluted EPS
−$41.21
▲ +93.2% vs FY2024

Revenue

Annual, as reported

020M40M’17’19’21’23’25$46.7M

Net income

Losses shown in terracotta

−40M−20M0’14’16’18’20’22’24’25−$21.6M

Recent quarters

momentum · last 12 quarters
Revenue — Dec ’25 quarter
$15.7M
▲ +85.8% vs Dec ’24
Net income — Dec ’25 quarter
−$6.7M
▲ +63.4% vs Dec ’24
Revenue — trailing 12 months
$46.7M
▲ +40.1% vs Dec ’24
Diluted EPS — trailing 12 months
−$41.21
▲ +93.2% vs Dec ’24

Quarterly revenue

Discrete quarters; Q4 derived from the annual figure

05M10M15MMar ’23Sep ’23Mar ’24Sep ’24Mar ’25Sep ’25Dec ’25$15.7M

Quarterly net income

Losses shown in terracotta

−10M0Mar ’23Sep ’23Mar ’24Sep ’24Mar ’25Sep ’25Dec ’25−$6.7M
QuarterRevenueRev. YoYGross marginNet incomeNet marginDiluted EPS
Dec ’25$15.7M85.8%17.7%−$6.7M−43.0%−$5.49
Sep ’25$12.7M49.0%27.6%−$5.3M−41.6%−$8.89
Jun ’25$11.0M39.5%19.2%−$4.9M−44.7%−$8.98
Mar ’25$7.3M−13.8%47.5%−$4.7M−63.6%−$17.85
Dec ’24$8.4M−6.7%46.2%−$18.4M−218.2%$26820.63
Sep ’24$8.5M4.0%41.7%−$4.8M−56.4%−$28.74
Jun ’24$7.9M−16.3%29.0%$7.3M92.9%−$921.46
Mar ’24$8.5M−6.0%38.4%−$8.1M−94.8%−$26472.13

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

-200000%-100000%0%’17’19’21’23’25
Gross marginOperating marginNet margin

Returns on capital

Net income vs year-end equity and assets

-1000000%-500000%0%’14’16’18’20’22’24
Return on equityReturn on assets

Cash flow

cash generation

Free cash flow

Operating cash flow less capital expenditure

−7.5M−5M−2.5M0’18’21’22’23−$3.6M

Operating cash flow

Net cash from operations

−15M−10M−5M0’14’16’18’20’22’24’25−$6.0M

Shareholder returns

capital allocation

Diluted shares outstanding

Falling count means buybacks outpace dilution

0200M400M’19’21’23’25596,352

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

−20M020M’14’16’18’20’22’24’25$25.9M

Growth rates

compounding, annualized
Revenue CAGR
+11.2%
3y
+482.4%
5y
Share count change (split-adjusted)
−87.2%
5y

Key ratios

derived per fiscal year
Fiscal yearGross marginOp. marginNet marginFCF marginROEROACurrent ratioDebt / equity
FY202525.4%−42.5%−46.3%—−83.3%−39.1%0.21×0.23×
FY202439.0%−102.8%−71.8%—−64.7%−37.9%0.36×0.12×
FY202340.6%−54.7%−75.5%−10.1%—−58.0%0.07×—
FY202236.6%−32.0%−103.1%−25.1%−228.5%−84.5%0.07×0.46×
FY202135.3%−36.2%−20.2%−33.4%—−4.3%0.06×—
FY202081.6%−16660.1%−211235.8%——−14916.8%0.00×—
FY2019—−14535.9%−144576.3%——−1107234.6%0.00×—
FY201894.9%−70850.2%−81729.0%−32800.4%—−2814.5%0.01×—
FY201799.8%−11528.5%−13904.7%——−1724.5%0.09×—
FY2016—————−2491.7%0.22×—
FY2015————−2674.3%−1176.3%2.26×0.66×
FY2014—————−664.7%0.25×—

Annual figures

as reported
Fiscal yearRevenueGross profitOp. incomeNet incomeDiluted EPSOp. cash flowCapexTotal assetsLiabilitiesEquityCashLT debt
FY2025$46.7M$11.9M−$19.8M−$21.6M−$41.21−$6.0M—$55.2M$29.2M$25.9M—$5.8M
FY2024$33.3M$13.0M−$34.3M−$23.9M−$601.70−$17.3M—$63.1M$26.1M$37.0M—$4.3M
FY2023$35.7M$14.5M−$19.5M−$26.9M−$385.81−$1.8M$1.8M$46.4M$50.9M−$4.5M—$23.4M
FY2022$34.0M$12.4M−$10.9M−$35.0M−$9.71−$2.6M$5.9M$41.5M$26.1M$15.3M—$7.0M
FY2021$8.1M$2.9M−$2.9M−$1.6M$0.36−$2.5M$219K$38.2M$61.5M−$23.3M—$25K
FY2020$7K$6K−$1.2M−$14.7M−$23.99−$1.0M—$99K$37.8M−$37.7M——
FY2019$24K—−$3.4M−$34.3M−$0.19−$1.8M—$3K$36.9M−$36.9M——
FY2018$20K$19K−$13.9M−$16.0M−$0.10−$6.4M$4K$569K$7.4M−$6.8M——
FY2017$319K$319K−$36.8M−$44.4M−$0.46−$8.0M—$2.6M$13.9M−$11.4M——
FY2016——−$13.6M−$18.0M−$0.34−$6.2M—$724K$1.8M−$1.1M——
FY2015———−$8.5M−$0.19−$3.1M—$720K$403K$317K—$209K
FY2014—$8K—−$2.4M−$0.17−$923K—$367K$1.3M−$947K—$162K

Latest filings

the most recent regulatory filings
10-KAnnual report2026-06-15 ↗8-KCurrent report — material event2026-05-27 ↗NT 10-QSEC filing2026-05-15 ↗8-KCurrent report — material event2026-04-22 ↗NT 10-KSEC filing2026-03-31 ↗10-QQuarterly report2026-03-06 ↗SCHEDULE 13G/ASEC filing2026-02-13 ↗SCHEDULE 13G/ASEC filing2026-02-13 ↗8-KCurrent report — material event2026-02-10 ↗10-QQuarterly report2026-02-05 ↗

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