Greenwave Technology Solutions, Inc. (GWAV) Income Statement
GWAV 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGWAV revenue and net income
Where GWAV's revenue goes
2025Each bar shows an amount and its share of revenue. GWAV kept −46.3% of revenue as net income.
GWAV profit margins
GWAV growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +40.1% | +11.2% | +482.4% | +71.3% |
| Gross profit | −8.6% | −1.5% | +361.3% | +54.2% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GWAV quarterly EPS vs estimates
Greenwave Technology Solutions beat the analyst EPS estimate in 0 of the last 2 quarters.
GWAV income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $46.7M | $33.3M | $35.7M | $34.0M | $8.1M | $6,964 | $23,703 | $19,597 | $319,242 | $701,581 |
| Cost of revenue | $34.8M | $20.3M | $21.2M | $21.5M | $5.2M | $1,283 | $3,530 | $994 | $630 | $180,427 |
| Gross profit | $11.9M | $13.0M | $14.5M | $12.4M | $2.9M | $5,681 | $20,173 | $18,603 | $318,612 | $521,154 |
| Sales, general & admin | $18.0M | $18.8M | $15.1M | $13.4M | $4.4M | $1.2M | $2.9M | $12.9M | $31.3M | $14.1M |
| Total operating expenses | $31.9M | $31.5M | $23.8M | $20.8M | $5.8M | $1.2M | $2.9M | $13.9M | $37.1M | $14.1M |
| Operating income | −$20.0M | −$18.5M | −$9.3M | −$8.4M | −$2.9M | −$1.2M | −$3.4M | −$13.9M | −$36.8M | −$13.6M |
| Interest expense | $2.8M | $5.4M | $8.9M | $34.1M | $10.6M | $5.1M | $4.9M | $2.0M | $659,774 | $3.8M |
| Income before taxes | −$21.6M | −$23.9M | −$26.9M | −$35.0M | −$1.6M | −$14.7M | −$34.3M | −$16.0M | −$44.4M | −$18.0M |
| Income taxes | — | — | $2 | $28.8M | $192.7M | −$1.3M | — | $1.2M | $659,774 | $3.8M |
| Net income | −$21.6M | −$23.9M | −$26.9M | −$35.0M | −$1.6M | −$14.7M | −$34.3M | −$16.0M | −$44.4M | −$18.0M |
| EBITDA | −$9.5M | −$10.9M | −$10.6M | $5.5M | $10.2M | −$4.4M | −$29.3M | −$13.6M | −$43.3M | −$14.2M |
| EPS (diluted) | −$36.36 | −$326.81 | −$2.56 | −$7.96 | $132255.47 | −$427459.28 | −$1059416.40 | −$323681.70 | −$1101837.33 | −$101.75 |
| Gross margin | 25.4% | 39.0% | 40.6% | 36.6% | 35.3% | 81.6% | 85.1% | 94.9% | 99.8% | 74.3% |
| Operating margin | −42.9% | −55.5% | −26.1% | −24.7% | −36.2% | −16,660.1% | −14,535.9% | −70,850.2% | −11,528.5% | −1,938.8% |
| Net margin | −46.3% | −71.8% | −75.5% | −103.1% | −20.2% | −211,235.8% | −144,576.3% | −81,729.0% | −13,904.7% | −2,569.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.0M | $15.6M | $12.7M | $7.3M | $11.0M | $8.4M | $8.4M | $8.5M | $7.9M | $8.5M | $9.0M | $8.2M |
| Cost of revenue | $9.9M | $12.8M | $9.2M | $3.8M | $8.9M | $4.5M | $4.5M | $5.0M | $5.6M | $5.2M | $5.5M | $5.3M |
| Gross profit | $6.1M | $2.8M | $3.5M | $3.5M | $2.1M | $3.9M | $3.9M | $3.5M | $2.3M | $3.3M | $3.5M | $2.9M |
| Sales, general & admin | $823,423 | $5.8M | $4.5M | $4.0M | $3.7M | $2.9M | $2.9M | $4.3M | $9.6M | $3.8M | $3.2M | $4.4M |
| Total operating expenses | $8.9M | $9.1M | $8.7M | $7.4M | $15.6M | $6.2M | $10.7M | $8.0M | $11.2M | $6.1M | $10.8M | $16.4M |
| Operating income | −$2.8M | −$6.3M | −$5.2M | −$3.9M | −$4.6M | −$2.3M | −$2.3M | −$4.4M | −$9.0M | −$2.8M | −$1.8M | −$13.5M |
| Interest expense | $393,311 | $366,134 | $326,313 | $810,853 | $1.3M | $311,493 | $311,493 | $361,070 | $2.5M | $2.2M | $2.2M | $3.7M |
| Income before taxes | −$3.2M | −$6.7M | −$5.3M | −$4.7M | −$4.9M | −$18.4M | −$18.4M | −$4.8M | $7.3M | −$8.1M | −$4.2M | −$16.5M |
| Income taxes | — | — | — | — | — | $2.9M | — | −$4.8M | — | $2 | — | $3.6M |
| Net income | −$3.2M | −$6.7M | −$5.3M | −$4.7M | −$4.9M | −$18.4M | −$18.4M | −$4.8M | $7.3M | −$8.1M | −$4.2M | −$16.5M |
| EBITDA | −$573,546 | −$4.1M | −$2.7M | −$1.7M | −$1.1M | −$15.9M | — | −$2.4M | $9.8M | −$4.2M | — | −$11.0M |
| EPS (diluted) | −$3.91 | — | — | — | — | −$85.79 | −$77.49 | −$0.26 | −$8.43 | −$240.63 | −$0.24 | −$1.75 |
| Gross margin | 37.9% | 17.8% | 27.6% | 47.5% | 19.2% | 46.2% | 46.2% | 41.7% | 29.0% | 38.4% | 39.1% | 35.8% |
| Operating margin | −17.8% | −40.5% | −41.2% | −53.5% | −41.5% | −26.9% | −26.9% | −52.2% | −113.7% | −33.1% | −20.0% | −164.8% |
| Net margin | −20.3% | −43.1% | −41.6% | −63.6% | −44.7% | −218.2% | −218.2% | −56.4% | 92.9% | −94.8% | −46.0% | −201.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GWAV's financial statements (latest annual report filed June 15, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GWAV financial results
In fiscal year 2025 (ended December 31, 2025), Greenwave Technology Solutions reported revenue of $46.7 million, up 40.1% from the year before. It had a net loss of $21.6 million, a net profit margin of −46.3%. Diluted earnings per share came to −$36.36. Over five years revenue grew at an average rate of 482.4% a year.
See the GWAV stock overview for the latest quote and news, or the GWAV chart for price history and technical indicators.
GWAV income statement FAQ
What is Greenwave Technology Solutions's annual revenue?
Greenwave Technology Solutions reported total revenue of $46.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 40.1% from $33.3 million the previous year.
Is Greenwave Technology Solutions profitable?
No. Greenwave Technology Solutions reported a net loss of $21.6 million in fiscal 2025, a net profit margin of −46.3%; its operating margin was −42.9%.
What is Greenwave Technology Solutions's gross margin?
Greenwave Technology Solutions's gross margin was 25.4% in fiscal 2025: for every $100 of revenue, Greenwave Technology Solutions kept $25 after the direct cost of its products and services.
How fast is Greenwave Technology Solutions growing?
Revenue grew 482.4% a year on average over the last five fiscal years, from $0.0 million to $46.7 million.
What are Greenwave Technology Solutions's earnings per share?
Greenwave Technology Solutions earned $-36.36 per diluted share in fiscal 2025, compared with $-326.81 a year earlier.
When does Greenwave Technology Solutions's fiscal year end?
Greenwave Technology Solutions's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on June 15, 2026.