Nuvve Holding Corp. (NVVE) Income Statement
NVVE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNVVE revenue and net income
Where NVVE's revenue goes
2025Each bar shows an amount and its share of revenue. NVVE kept −727.9% of revenue as net income.
NVVE profit margins
NVVE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −19.9% | −7.6% | +16.9% | — |
| Gross profit | −25.0% | +3.7% | −1.6% | — |
| 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.
NVVE quarterly EPS vs estimates
Nuvve beat the analyst EPS estimate in 0 of the last 1 quarters.
NVVE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.2M | $5.3M | $8.3M | $5.4M | $2.9M | $1.9M | $2.6M | $1.4M |
| Cost of revenue | $2.9M | $3.5M | $7.0M | $4.2M | $2.0M | $521,068 | $544,229 | $85,000 |
| Gross profit | $1.3M | $1.8M | $1.4M | $1.2M | $918,430 | $1.4M | $2.0M | $1.3M |
| Research & development | $3.8M | $4.5M | $8.8M | $8.0M | $6.5M | $2.9M | $3.1M | $3.6M |
| Sales, general & admin | $26.8M | $17.7M | $25.9M | $30.1M | $22.9M | $599,535 | — | — |
| Total operating expenses | $30.0M | $22.2M | $33.5M | $38.1M | $28.2M | $6.1M | $8.2M | $9.2M |
| Operating income | −$28.7M | −$20.5M | −$32.1M | −$36.9M | −$27.2M | −$4.7M | −$6.2M | −$7.9M |
| Interest income | — | — | $192,220 | $134,579 | — | $0 | — | — |
| Interest expense | $2.0M | $767,373 | — | $47.3M | $585,157 | $313,614 | $8,186 | $0 |
| Income before taxes | −$31.5M | −$17.4M | −$31.3M | −$24.6M | −$27.2M | −$4.9M | −$2.4M | −$7.8M |
| Income taxes | −$1,000 | $1,600 | $1,600 | $800 | $1,000 | $1,000 | $671,726 | — |
| Net income | −$30.8M | −$17.4M | −$31.3M | −$24.0M | −$27.2M | −$4.9M | −$3.0M | −$7.8M |
| EBITDA | −$29.3M | −$16.3M | −$30.9M | −$24.3M | −$26.8M | −$4.4M | −$6.0M | −$7.7M |
| EPS (diluted) | −$582.66 | −$10.58 | −$164167.17 | −$334224.22 | −$483574.66 | −$1.02 | −$0.07 | — |
| Gross margin | 31.0% | 33.1% | 16.2% | 21.9% | 31.4% | 73.2% | 78.9% | 93.9% |
| Operating margin | −678.0% | −387.1% | −385.3% | −687.0% | −932.4% | −241.2% | −239.0% | −560.9% |
| Net margin | −727.9% | −329.1% | −375.5% | −447.0% | −930.0% | −251.4% | −117.2% | −558.6% |
| 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 | $1.2M | $1.1M | $1.7M | $1.6M | $332,989 | $934,304 | $1.8M | $1.9M | $802,180 | $779,756 | $1.5M | $2.7M |
| Cost of revenue | $1.2M | $741,968 | $1.5M | $766,976 | $131,065 | $562,406 | $1.5M | $918,087 | $611,448 | $530,409 | $1.2M | $2.4M |
| Gross profit | $31,804 | $405,224 | $278,459 | $831,651 | $201,924 | $371,898 | $281,764 | $1.0M | $190,732 | $249,347 | $368,903 | $311,347 |
| Research & development | $935,378 | $1.6M | $674,310 | $1.2M | $1.1M | $883,772 | $767,558 | $710,291 | $1.5M | $1.6M | $2.0M | $2.3M |
| Sales, general & admin | $6.5M | $4.9M | $3.0M | $4.8M | $13.9M | $5.1M | $5.1M | $2.1M | $4.5M | $5.9M | $5.9M | $6.5M |
| Total operating expenses | $7.5M | $7.0M | $3.5M | $5.9M | $15.0M | $6.0M | $5.9M | $2.8M | $6.0M | $7.5M | $7.8M | $8.8M |
| Operating income | −$7.4M | −$5.8M | −$3.2M | −$5.1M | −$14.8M | −$5.6M | −$5.6M | −$1.8M | −$5.8M | −$7.2M | −$7.4M | −$8.5M |
| Interest income | — | — | — | — | — | — | — | — | $10,736 | $9,012 | $2,988 | $16,213 |
| Interest expense | $152,633 | — | $235,465 | $477,482 | $707,017 | $535,817 | $544,653 | $242,468 | — | — | $18,921 | — |
| Income before taxes | −$7.3M | −$5.6M | −$6.3M | −$4.8M | −$13.6M | −$6.9M | −$5.1M | −$1.6M | −$3.9M | −$6.7M | −$7.3M | −$8.3M |
| Income taxes | — | — | −$1,000 | — | — | — | $1,600 | — | −$85,948 | −$86,656 | $1,600 | −$289,867 |
| Net income | −$7.0M | −$5.2M | −$6.1M | −$4.5M | −$13.4M | −$6.9M | −$5.1M | −$1.6M | −$3.9M | −$6.7M | −$7.3M | −$8.3M |
| EBITDA | −$7.0M | −$5.7M | −$4.0M | −$3.9M | −$12.8M | −$6.3M | −$5.8M | −$1.7M | −$3.9M | −$6.6M | −$7.2M | −$8.2M |
| EPS (diluted) | −$28.96 | −$521.20 | — | −$0.24 | −$2.12 | −$3.26 | −$5.75 | −$2.47 | −$0.67 | −$1.69 | −$6.98 | −$77759.94 |
| Gross margin | 2.6% | 35.3% | 16.0% | 52.0% | 60.6% | 39.8% | 15.8% | 52.1% | 23.8% | 32.0% | 24.0% | 11.5% |
| Operating margin | −607.2% | −509.4% | −184.7% | −319.7% | −4,443.8% | −597.9% | −314.2% | −95.8% | −718.5% | −929.4% | −484.6% | −312.0% |
| Net margin | −568.6% | −450.7% | −348.4% | −281.9% | −4,017.8% | −735.6% | −283.9% | −86.0% | −491.0% | −861.1% | −473.9% | −307.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NVVE's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NVVE financial results
In fiscal year 2025 (ended December 31, 2025), Nuvve reported revenue of $4.2 million, down 19.9% from the year before. It had a net loss of $30.8 million, a net profit margin of −727.9%. Diluted earnings per share came to −$582.66. Over five years revenue grew at an average rate of 16.9% a year.
See the NVVE stock overview for the latest quote and news, or the NVVE chart for price history and technical indicators.
NVVE income statement FAQ
What is Nuvve's annual revenue?
Nuvve reported total revenue of $4.2 million for fiscal year 2025, which ended on December 31, 2025. That was down 19.9% from $5.3 million the previous year.
Is Nuvve profitable?
No. Nuvve reported a net loss of $30.8 million in fiscal 2025, a net profit margin of −727.9%; its operating margin was −678.0%.
What is Nuvve's gross margin?
Nuvve's gross margin was 31.0% in fiscal 2025: for every $100 of revenue, Nuvve kept $31 after the direct cost of its products and services.
How much does Nuvve spend on research and development?
Nuvve spent $3.8 million on research and development in fiscal 2025, 90.5% of revenue.
How fast is Nuvve growing?
Revenue grew 16.9% a year on average over the last five fiscal years, from $1.9 million to $4.2 million.
What are Nuvve's earnings per share?
Nuvve earned $-582.66 per diluted share in fiscal 2025, compared with $-10.58 a year earlier.
When does Nuvve's fiscal year end?
Nuvve's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.