Filing Flows › Greenwave Technology Solutions (GWAV) › Q3 2025
Greenwave Technology Solutions (GWAV) Q3 2025 earnings results (third quarter 2025)
10-Q filed Mar 6, 2026
Greenwave Technology Solutions (GWAV) reported revenue of $12.7M for the third quarter 2025 (Q3 2025), +49% from a year earlier and +15% from the quarter before. Operating margin was -38.8%, net loss $5.3M (41.6% of revenue).
Greenwave Technology Solutions, Q3 2025: revenue $12.7M (+49% year over year), operating margin -38.8%, net loss $5.3M, operating cash flow −$2.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.7M | +15% | +49% |
| Operating profit | −$4.9M | — | — |
| Net earnings | −$5.3M | — | — |
| Operating cash flow | −$2.9M | -338% | — |
What changed
Revenue was $12.7M in Q3 2025, up 49% year over year and up 15% from the previous quarter. Scrap Metal Recycling was the largest line at 71% of revenue. Scrap Metal Recycling added $3.8M year over year (up 73%), 91% of the total change. Other declined 67%.
Gross margin was 27.6%, down 14.1 points from a year earlier. Operating costs exceeded revenue by $4.9M, an operating margin of -38.8%. Operating expenses grew 5% against revenue growth of 49%. The quarter ended with a net loss of $5.3M, wider than the previous quarter's $4.9M loss.
Operating cash flow was −$2.9M. Non-cash charges added back $2.2M of depreciation and amortization. Working capital and other items added $188K.
Questions
What was Greenwave Technology Solutions' revenue in the third quarter 2025?
Greenwave Technology Solutions (GWAV) reported revenue of $12.7M for the third quarter 2025 (Q3 2025), +49% from a year earlier and +15% from the quarter before.
Was Greenwave Technology Solutions profitable in the third quarter 2025?
Operating loss was $4.9M (-38.8% of revenue) and net loss $5.3M.