Nuvve Holding Corp. provides a commercial vehicle-to-grid (V2G) technology platform. Its Grid Integrated Vehicle (GIVe) platform enables electric vehicle batteries to be ...
Nuvve Holding Corp. (NVVE) is focused on electrification and grid flexibility by turning EVs into distributed energy assets. Through its Grid Integrated Vehicle (GIVe) platform, the company links EV batteries into a “virtual power plant” concept, allowing energy to flow in both directions between vehicles and the electrical grid. This ...Nuvve Holding Corp. (NVVE) is focused on electrification and grid flexibility by turning EVs into distributed energy assets. Through its Grid Integrated Vehicle (GIVe) platform, the company links EV batteries into a “virtual power plant” concept, allowing energy to flow in both directions between vehicles and the electrical grid. This bi-directional capability can be used to provide services that help balance supply and demand, manage peak loads, and improve the integration of intermittent renewable generation (e.g., solar and wind).
From a products and services perspective, Nuvve’s platform is described as a technology stack for commercial V2G deployments. Rather than selling only hardware, the company positions its GIVe platform as an enabling layer that helps fleets and energy stakeholders coordinate EV charging/discharging and participate in grid-related programs. In practice, these deployments can involve (1) energy-management software/controls, (2) integration with charging and grid interfaces, and (3) operational workflows that schedule and dispatch vehicle energy services according to grid needs.
The company’s commercialization typically depends on system-level partnerships and deployment execution. While the provided materials emphasize software/technology and a platform approach, V2G solutions generally entail multi-component bill-of-materials and integration scope—such as EV charging infrastructure compatibility, communications and control layers, and grid-interconnection considerations. As a result, cost and margins can be influenced by installation requirements, integration effort, and the scale/recurrence of service revenues once a fleet or site is onboarded.
Financially, Nuvve has been associated with early commercialization dynamics for clean-tech and grid-interactive assets. The snapshot provided indicates negative profitability metrics (e.g., negative margins and negative free cash flow measures on a trailing-twelve-month basis), which is consistent with many infrastructure- and software-platform businesses during scaling phases. The business therefore often evaluates performance through adoption milestones (number of vehicles/sites enabled), customer/fleet traction, and the ability to convert deployments into recurring grid-services economics.
Leadership is anchored by CEO and co-founder Gregory Poilasne, who has overseen the company’s strategic direction since its founding. Nuvve is headquartered in San Diego, California, and the company has referenced an international deployment footprint (including the United States, France, and Japan) as part of its go-to-market for V2G systems.
Overall, Nuvve’s mission is to enable a scalable pathway from transportation electrification to grid-scale energy flexibility—leveraging EV batteries as controllable energy storage to support a cleaner, more resilient power system. Key “wish” outcomes for the company’s trajectory are typically broader V2G adoption, standardized integrations that reduce deployment cost/complexity, and sustained revenue generation from grid services as regulations, utility programs, and fleet economics mature.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$4.2M
-19.9%
-11.9%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-30.8M
-77.2%
-19.6%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+31.0%
-6.4%
-94.5%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-678.0%
-75.2%
-44.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-727.9%
-121.2%
-35.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-16.7M
-5.7%
+57.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-394.0%
-32.0%
+52.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
-367.5%
+56.5%
+92.3%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.13x
+38.0%
-45.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good evening, and welcome to the Nuvve Holding Corporation Fourth Quarter 2025 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. On today's call are Gregory Poilasne, Chief Executive Officer; and David Robson, Chief Financial Officer of Nuvve. Earlier today, Nuvve issued a press release announcing its Q4 '25 and FY '25. Following prepared remarks, we will open up the call for questions. Before we begin, I would like to remind you that this call may contain forward-looking statements. While these forward-looking statements reflect Nuvve's best current judgment, they are subject to risks and uncertainties that could cause actual results to differ materially from those implied by these forward-looking projections. These risk factors are discussed in Nuvve's filings with the SEC and in the earnings release issued today, which are available on our website. Nuvve undertakes no obligation to revise or update any forward-looking statements to reflect future events or circumstances. With that, I would like to turn the call over to Gregory Poilasne, Chief Executive Officer of Nuvve. Gregory?
Gregory Poilasne: Thank you, and good afternoon to everyone here today. Welcome to our Q4 '25 and Full Year '25 Results Call. 2025 has been a transition year where we have been pivoting from vehicle-to-grid deployments to stationary storage. Stationary battery were not new to Nuvve. We have been managing batteries for a few years in the U.S., for example, at the University of California, San Diego and in Japan with our partner at the time, Toyota Tsusho. Nuvve's platform has been designed to manage batteries from the ground up, either on wheels or stationary with the benefits of aggregation, second by second control and advanced stacking services, including behind-the-meter energy cost optimization, distribution grid support and ancillary services. We also started to integrate artificial intelligence-based functionalities 3 years ago with a focus on forecasting for battery usage and market values. Nuvve has now moved on into a full end-to-end AI-based product development cycle and is currently integrating AI-based project management, sales support and finance functionalities in order to scale our business while we are reducing our cost base. Though we are not stopping our current activities in school bus and fleets, all the market signals we are receiving are confirming that our pivot towards stationary battery deployments is the right path. In Europe, we have recently announced a partnership with OMNIA Global, a Zug Switzerland-based family office. The partnership with OMNIA is really a meeting of the minds as OMNIA has developed a 1 gigawatt plus battery pipeline across multiple countries in Europe that will be deployed over the next 24 months. The purpose of the partnership is to deploy batteries across Europe, batteries that will be owned by Nuvve. We have already announced 3 projects, a 50-megawatt 75-megawatt …
