Filing Flows › Industrials › Greenwave Technology Solutions (GWAV)
Greenwave Technology Solutions (GWAV) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 18, 2026 · Greenwave Technology Solutions (GWAV) Q2 2026 earnings results →
Q2 2026 Revenue up 46% year over year to $16.0M · 20¢ of every $1 of revenue lost · operating margin -17.8%
Greenwave Technology Solutions made $16.0M in Q2 2026 (+46% Y/Y): Scrap Metal Recycling $14.5M, Hauling $1.5M, Other $22K. Operating margin -17.8%, net loss $3.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 18, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $16.0M in Q2 2026, up 45% year over year and down 2% from the previous quarter. Scrap Metal Recycling was the largest line at 90% of revenue. Scrap Metal Recycling added $7.3M year over year (up 103%), 147% of the total change. Hauling declined 61%.
Gross margin was 37.9%, up 18.7 points from Q2 2025. Operating costs exceeded revenue by $2.8M, an operating margin of -17.8%. Operating expenses grew 32% against revenue growth of 45%. The quarter ended with a net loss of $3.2M, wider than the previous quarter's $1.5M loss.
Operating cash flow was −$370K. Non-cash charges added back $2.2M of depreciation and amortization. Working capital and other items added $654K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 18, 2026 | $16.0M | +46% | -17.8% | −$3.2M | −$370K |
| Q1 2026 | 10-Q | Jul 29, 2026 | $16.3M | +122% | -6.6% | −$1.5M | $1.3M |
| Q4 2025 | 10-K | Jun 15, 2026 | $15.6M | +85% | -40.8% | −$6.7M | −$115K |
| Q3 2025 | 10-Q | Mar 6, 2026 | $12.7M | +49% | -38.8% | −$5.3M | −$2.9M |
| Q2 2025 | 10-Q | Feb 5, 2026 | $11.0M | +40% | -42.3% | −$4.9M | $1.2M |
| Q1 2025 | 10-Q | Nov 19, 2025 | $7.3M | -14% | -52.9% | −$4.7M | −$4.2M |
| Q4 2024 | 10-K | Apr 15, 2025 | $8.4M | -7% | -214.3% | −$18.4M | −$2.5M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Greenwave Technology Solutions
We were formed on April 26, 2013 as a technology platform developer under the name MassRoots, Inc. In October 2021, we changed our corporate name from “MassRoots, Inc.” to “Greenwave Technology Solutions, Inc.” We sold all of our social media assets on October 28, 2021 for cash consideration equal to $10,000 and have discontinued all operations related to our social media business. On September 30, 2021, we closed our acquisition of Empire Services, Inc. (“Empire”), which operates 13 metal recycling facilities in Virginia, North Carolina, and Ohio. The acquisition was effective October 1, 2021 upon the effectiveness of the Certificate of Merger in Virginia.
In its own words, from its 10-K, filed Jun 15, 2026.
Greenwave Technology Solutions against its Wholesale-Metals Service Centers & of fices peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +46% against the peers' median +46%. Operating margin: -17.8% against the peers' median 6.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| GWAV Greenwave Technology Solutions | Q2 2026 | $16.0M | +46% | -17.8% |
| RS Reliance | Q3 2026 | $5.2B | +43% | 10.6% |
| RYZ Ryerson Holding | Q3 2026 | $2.2B | +88% | 2.4% |
| FSTR Foster L B | Q3 2026 | $168M | +22% | 6.0% |
Source: Greenwave Technology Solutions 10-Q on SEC EDGAR · CIK 1589149 · Wholesale-Metals Service Centers & of fices
13F: who owns GWAV and who is buying
More on GWAV
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results