Eco Wave Power Global (WAVE) Q1 2025 earnings summary

Executive summary

• Net loss for Q1 2025 was $505,005, a 4.2% improvement year-over-year, reflecting cost discipline and higher net financing income amid project expansion in multiple regions.

• Major project milestones achieved: final permit for Los Angeles pilot, expansion into Portugal, and new partnerships in India and Taiwan.

• Maintained strong liquidity with $8.8 million in cash and short-term deposits at quarter-end.

• EWP-EDF One in Israel delivered zero downtime and consistent energy output, supporting scalability.

• Advisory Board established, appointing Hilary E. Ackermann as first member to enhance strategic oversight.

Financial highlights

• Net loss improved from $527,000 in Q1 2024 to $505,005 in Q1 2025.

• Operating expenses increased to $765,000 from $659,000 year-over-year, mainly due to project development.

• Net financial income nearly doubled to $260,000 from $132,000 year-over-year, partially offsetting higher costs.

• Cash and short-term deposits at $8.8 million at March 31, 2025.

• Loss per share was $0.01 (basic and diluted), unchanged year-over-year.

Outlook and guidance

• R&D, sales and marketing, and G&A expenses expected to materially increase as global project pipeline expands.

• Los Angeles floaters expected to be completed and installed by end of Q2 2025.

• Portugal project on track for 2026 start-up, pending final approvals.

• Anticipates formal purchase order in India and full contract execution in Taiwan by mid-2025.

• Focus on cost reduction and commercialization of wave energy technology in 2025.