The company's revenue profile remains highly volatile, with zero revenue recorded in 2025Q2 and a quarterly net loss that expanded to $1.4 million.
| Revenue | 168K | 38.2K | 168K | 306K | 26K | 31K | 0 | 0 | 13.56K | 21.71K |
| Revenue Growth % | -45.1% | -77.26% | -45.1% | 1076.92% | -16.13% | - | - | -100% | -37.55% | - |
| Cost of Revenue | 42K | 271.45K | 42K | 59K | 22K | 27K | 0 | 38.69K | 319.3K | 419.54K |
| Gross Profit | 126K | -233.25K | 126K | 247K | 4K | 4K | 0 | -38.69K | -305.75K | -397.83K |
| Gross Margin % | 75% | -610.54% | 75% | 80.72% | 15.38% | 12.9% | - | - | -2254.92% | -1832.3% |
| Gross Profit Growth % | - | -285.12% | -48.99% | 6075% | 0% | - | 100% | 87.35% | 23.15% | - |
| Operating Expenses | 2.7M | 2.98M | 2.46M | 2.66M | 3.61M | 3.07M | 457.48K | 2.08M | 633.53K | 648.51K |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| EBITDA | -2.16M | -2.96M | -2.2M | -2.24M | -3.4M | -2.82M | -318.88K | -2.08M | -829.88K | -942.27K |
| EBITDA Margin % | -1284.24% | -7747.57% | -1311.9% | -733.01% | -13069.23% | -9103.23% | - | - | -6120.49% | -4339.87% |
| EBITDA Growth % | -1.21% | -34.29% | 1.74% | 33.99% | -20.41% | -784.99% | 84.69% | -150.95% | 11.93% | - |
| Depreciation & Amortization | 9.75K | 255.36K | 134K | 170K | 209K | 248K | 138.61K | 38.69K | 22.96K | 20.96K |
| D&A / Revenue % | 5.8% | 668.44% | 79.76% | 55.56% | 803.85% | 800% | - | - | 169.33% | 96.52% |
| Operating Income (EBIT) | -2.57M | -3.22M | -2.34M | -2.41M | -3.61M | -3.07M | -457.48K | -2.12M | -852.84K | -963.23K |
| Operating Margin % | -1532% | -8416% | -1391.67% | -788.56% | -13873.08% | -9903.23% | - | - | -6289.82% | -4436.39% |
| Operating Income Growth % | - | -37.52% | 3.11% | 33.1% | -17.49% | -571.07% | 78.43% | -148.73% | 11.46% | - |
| Interest Expense | 654K | 66.35K | 60.88K | 45K | 48K | 53K | 1.09K | 85.09K | 861 | 60.21K |
| Interest Coverage | - | -55.42x | -33.79x | -40.47x | -59.44x | -43.28x | -389.60x | -22.83x | -1089.56x | -16.68x |
| Interest / Revenue % | 389.29% | 173.69% | 36.24% | 14.71% | 184.62% | 170.97% | - | - | 6.35% | 277.32% |
| Non-Operating Income | -411.65K | -528.82K | 230K | 547K | 706K | 723K | 33.13K | 93.33K | 24.59K | -102.5K |
| Pretax Income | -2.99M | -3.74M | -2.11M | -1.87M | -2.9M | -2.35M | -424.35K | -2.03M | -897.28K | -1.11M |
| Pretax Margin % | -1777.03% | -9800.25% | -1254.76% | -609.8% | -11157.69% | -7570.97% | - | - | -6617.63% | -5096.49% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -44.45K | -143.32K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 4.95% | 12.95% |
| Net Income | -2.96M | -3.72M | -2.08M | -1.71M | -2.9M | -2.35M | -424.35K | -1.99M | -852.84K | -963.23K |
| Net Margin % | -1759.75% | -9729.19% | -1236.31% | -558.82% | -11157.69% | -7570.97% | - | - | -6289.82% | -4436.39% |
| Net Income Growth % | -59.89% | -78.95% | -21.46% | 41.05% | -23.6% | -453.09% | 78.71% | -133.71% | 11.46% | - |
| EPS (Diluted) | -0.51 | -0.64 | -0.37 | -0.31 | -0.52 | -0.47 | -0.10 | -0.51 | -0.17 | -0.20 |
| EPS Growth % | -56.27% | -72.97% | -19.35% | 40.38% | -10.64% | -385.54% | 81.02% | -200% | 15% | - |
| EPS (Basic) | - | -0.64 | -0.37 | -0.31 | -0.52 | -0.47 | -0.10 | -0.51 | -0.17 | -0.20 |
| Diluted Shares Outstanding | 5.84M | 5.84M | 5.55M | 5.55M | 5.55M | 4.98M | 4.4M | 3.95M | 4.92M | 4.92M |
High operational and regulatory execution risk
As reported in recent financial filings, WAVE's revenue remains highly intermittent, with the company recording zero revenue in the most recent quarter, highlighting a lack of consistent commercial electricity sales or established rate-based income streams necessary to support a sustainable utility-scale business model at this stage.
The absence of steady revenue suggests the company is currently reliant on sporadic project-based grants rather than a predictable regulatory rate recovery mechanism. Investors should monitor whether the company can transition from pilot-phase feasibility fees to long-term Power Purchase Agreements, as the current trajectory appears entirely dependent on non-recurring project milestones.
Based on the company's reported income statements, operating expenses consistently exceed $600,000 per quarter, which, when contrasted with the negligible revenue figures, indicates that the firm has yet to achieve the operational leverage required to cover its core research and administrative cost base.
The cost structure appears heavily weighted toward fixed R&D and administrative overhead rather than variable power generation costs. This suggests that until the company achieves a fleet effect through standardized deployments, the operating margin will likely remain deeply negative, creating ongoing pressure on the company's cash reserves.
According to the provided financial data, WAVE has reported consistent quarterly net losses, with the most recent period showing a $1.4 million deficit, which underscores the speculative nature of the current earnings profile and the absence of core regulated profitability at this time.
The reported EPS figures reflect a pre-commercial entity where losses are driven by development costs rather than operational inefficiencies. It appears that the company's earnings quality is currently non-existent, as there is no underlying regulated earnings power to normalize or evaluate against industry benchmarks.
While the company highlights a 404.7 MW project pipeline, the income statement fails to reflect the significant capital expenditure and regulatory hurdles required to convert these non-binding letters of intent into actual revenue-generating assets, suggesting a potential disconnect between management's growth narrative and current financial reality.
The income statement may mask the true cost of maintaining these potential projects, as development expenses are often expensed rather than capitalized. Investors should be wary that the current cash burn rate may accelerate if the company attempts to move multiple projects into the construction phase simultaneously without securing non-dilutive financing.
Quick answers to the most common questions about buying WAVE stock.
For fiscal year 2025, Eco Wave Power Global AB (publ) (WAVE) reported total revenue of $0.0M. This represents a 76.0% increase compared to $0.0M in 2017.
Eco Wave Power Global AB (publ) (WAVE) reported a net loss of $3.7M for the fiscal year ending 2025.
Eco Wave Power Global AB (publ) (WAVE) reported an operating income of $-3.2M, resulting in an operating profit margin of -8416.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Eco Wave Power Global AB (publ) (WAVE) generated $-0.2M in gross profit for the year, representing a gross profit margin of -610.5%. This demonstrates the company's core pricing power and production efficiency.