$NVVE

Nuvve Holding Corp.

CIK:0001836875|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 1,226,726	$ 332,989	$ 2,619,846	$ 1,245,454
Operating expenses
Selling, general, and administrative	6,544,546	13,905,986	11,433,877	18,960,049
Research and development	935,378	1,093,163	2,541,396	1,976,935
Total operating expenses	8,674,846	15,130,214	15,912,163	21,629,293
Operating loss	(7,448,120)	(14,797,225)	(13,292,317)	(20,383,839)
Other income (expense)
Interest expense, net	(152,633)	(707,017)	(265,141)	(1,242,834)
Change in fair value of convertible notes	0	1,142,710	0	51,704
Change in fair value of warrants/investment rights liability	142,140	565,800	357,681	441,182
Other, net	156,435	227,270	293,916	686,724
Total other income (expense), net	145,942	1,228,763	386,456	(63,224)
Loss before taxes	(7,302,178)	(13,568,462)	(12,905,861)	(20,447,063)
Income tax expense	0	0	0	0
Net loss	(7,302,178)	(13,568,462)	(12,905,861)	(20,447,063)
Less: Net loss attributable to non-controlling interests	(327,329)	(189,662)	(760,265)	(195,260)
Net loss attributable to Nuvve Holding Corp.	(6,974,849)	(13,378,800)	(12,145,596)	(20,251,803)
Less: Preferred dividends	97,105	0	176,371	0
Less: Accretion of issuance discount on preferred stock	76,633	0	660,839	0
Net loss attributable to Nuvve Holding Corp. common stockholders	$ (7,148,587)	$ (13,378,800)	$ (12,982,806)	$ (20,251,803)
Net loss per share attributable to Nuvve Holding Corp. common stockholders, basic (in dollars per share)	$ (14.45)	$ (1,525.62)	$ (37.22)	$ (3,579.73)
Net loss per share attributable to Nuvve Holding Corp. common stockholders, diluted (in dollars per share)	$ (14.45)	$ (1,525.62)	$ (37.22)	$ (3,579.73)
Weighted-average shares used in computing net loss per share attributable to Nuvve Holding Corp. common stockholders, basic (in shares)	494,606	8,769	348,857	5,657
Weighted-average shares used in computing net loss per share attributable to Nuvve Holding Corp. common stockholders, diluted (in shares)	494,606	8,769	348,857	5,657
Products
Revenue
Total revenue	$ 915,599	$ 141,905	$ 1,356,430	$ 707,456
Operating expenses
Cost of revenue	768,109	48,124	1,350,000	541,339
Services
Revenue
Total revenue	128,337	191,084	834,698	458,388
Operating expenses
Cost of revenue	426,813	82,941	586,890	150,970
Grants
Revenue
Total revenue	$ 182,790	$ 0	$ 428,718	$ 79,610

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025	Dec. 31, 2024
Operating activities
Net loss	$ (7,302,178)	$ (5,603,683)	$ (13,568,462)	$ (6,878,601)	$ (12,905,861)	$ (20,447,063)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization					266,203	160,425
Stock-based compensation					2,122	568,681
Loss on disposal of asset					20,957	0
Amortization of discount on debt and promissory notes					97,913	61,326
Change in fair value of warrants/investment rights liability					(357,681)	(441,182)
Change in fair value of convertible notes	0		(1,142,710)		0	(51,704)
Fair value of warrants issued for cryptocurrency strategy consulting services					0	8,194,000
Provision for credit losses					0	990,105
Noncash lease expense					264,828	250,448
Change in operating assets and liabilities
Accounts receivable					381,788	749,923
Inventory					228,771	347,541
Prepaid expenses and other assets					(1,006,676)	10,868
Accounts payable					978,938	(480,643)
Advance deposit from customer					(463,223)	0
Due to customer					145,000	800,000
Accrued expenses and other liabilities					2,180,072	1,771,572
Deferred revenue					775,309	241,423
Net cash used in operating activities					(9,391,540)	(7,274,280)	$ (16,600,000)	$ (15,700,000)
Investing activities
Acquisition					0	(340,200)
Purchase of property and equipment					(295,479)	(54,173)
Net cash used in investing activities					(295,479)	(394,373)
Financing activities
Proceeds from exercise of warrants					773,409	2,075,345
Proceeds from debt and promissory notes obligations					1,365,000	8,759,426
Repayment of debt and promissory notes obligations					(575,811)	(2,482,212)
Proceeds from common stock offering, including pre-funded warrants, net of issuance costs					0	564,847
Payment of finance lease obligations					(647)	(7,591)
Proceeds from issuance of Class B units					0	100,000
Proceeds from convertible series A preferred, net of offering costs					2,031,744	0
Proceeds from issuance of J-Kiss units					1,183,582	0
Net cash provided in financing activities					4,777,277	9,009,815
Effect of exchange rate on cash					(56,631)	54,747
Net increase (decrease) in cash and restricted cash					(4,966,373)	1,395,909
Cash and restricted cash at beginning of year		$ 5,787,250		$ 691,497	5,787,250	691,497	691,497
Cash and restricted cash at end of period	$ 820,877		$ 2,087,406		820,877	2,087,406	$ 5,787,250	$ 691,497
Supplemental Disclosure of cash information:
Cash paid for interest					56,309	502,133
Supplemental Disclosure of Noncash Investing and Financing Activities:
Conversion of preferred stock, net of issuance costs and accretion					3,944,206	0
Conversion of Notes and accrued interest to common shares					616,487	0
Transfer of inventory to property and equipment					183,219	0
Issuance of preferred class A units for acquisition					$ 0	$ 774,976

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash	$ 500,877	$ 5,467,250
Restricted cash	320,000	320,000
Accounts receivable, net	712,863	1,094,651
Inventories	572,048	800,819
Prepaid expenses	1,011,345	883,301
Deferred costs - current	1,754,254	709,286
Due from related party	0	574,503
Other current assets	1,001,187	1,184,704
Total current assets	5,872,574	11,034,514
Property and equipment, net	885,348	618,444
Intangible assets, net	991,018	1,065,705
Goodwill	96,000	96,000
Investment in leases	96,258	98,321
Right-of-use operating lease assets	3,515,576	3,779,757
Deferred costs - noncurrent	594,558	594,558
Security deposit, long-term	122,966	105,782
Total assets	12,174,298	17,393,081
Current liabilities
Accounts payable	4,385,907	3,406,969
Due to customers	145,000	0
Accrued expenses	4,951,702	1,842,722
Deferred revenue - current	1,587,959	1,022,453
Convertible notes - current	18,284	616,179
Operating lease liabilities - current	1,021,085	860,130
Dividend payable	121,746	0
Other liabilities	0	2,340
Customer deposits	455,408	918,631
Total current liabilities	14,754,545	9,782,988
Operating lease liabilities - noncurrent	3,261,294	3,558,659
Deferred revenue - noncurrent	1,082,519	874,779
Warrants/investment rights liability	205,105	474,023
Other long-term liabilities	134,188	172,089
Total liabilities	19,437,651	14,862,538
Commitments and Contingencies
Mezzanine equity
Series A Convertible preferred stock, $0.0001 par value, 35,000 shares authorized, 349 issued and 15 outstanding at June 30, 2026, and 333 shares issued and outstanding at December 31, 2025; aggregate liquidation preference of $276,076 and $6,000,000 at June 30, 2026 and December 31, 2025, respectively	242,589	4,958,840
Stockholders’ equity
Common stock, $0.0001 par value, 400,000,000 shares authorized; 531,250 shares issued and 531,248 outstanding at June 30, 2026 and 114,993 shares issued and 114,991 outstanding at December 31, 2025, respectively	12,507	11,758
Treasury stock, at cost, 2 shares outstanding at June 30, 2026 and December 31, 2025, respectively	0	0
Additional paid-in capital	199,993,541	193,616,119
Accumulated other comprehensive income	(18,590)	38,041
Accumulated deficit	(209,404,434)	(196,421,627)
Nuvve Holding Corp. stockholders’ deficit	(5,990,431)	(1,673,051)
Non-controlling interests	(1,515,511)	(755,246)
Total stockholders’ deficit	(7,505,942)	(2,428,297)
Total Liabilities, stockholders' deficit and mezzanine equity	12,174,298	17,393,081
Nonrelated Party
Current liabilities
Due to related party - promissory notes - current	1,455,809	0
Related Party
Current assets
Accounts receivable, net	0	0
Current liabilities
Due to related party - promissory notes - current	611,645	1,113,564
Series A Convertible Preferred Stock
Mezzanine equity
Series A Convertible preferred stock, $0.0001 par value, 35,000 shares authorized, 349 issued and 15 outstanding at June 30, 2026, and 333 shares issued and outstanding at December 31, 2025; aggregate liquidation preference of $276,076 and $6,000,000 at June 30, 2026 and December 31, 2025, respectively	242,589	4,958,840
Stockholders’ equity
Preferred stock, value, issued	1,734,808	0
Preferred Class A Units
Stockholders’ equity
Carrying Value	166,698	166,698
J-Kiss Units
Stockholders’ equity
Carrying Value	1,225,039	615,960
Class B Units
Stockholders’ equity
Class B units, zero par value, 2,500,000 units authorized; 300,000 units issued and outstanding at June 30, 2026, and 300,000 units issued and outstanding at December 31, 2025.	300,000	300,000
Cumulative Preferred Stock
Stockholders’ equity
Preferred stock, value, issued	$ 0	$ 0