Eco Wave Power Global AB (publ) (NASDAQ: WAVE) is focused on generating electricity from ocean and sea waves using an onshore (and nearshore) wave energy conversion (WEC) approach. The company’s core value proposition is turning wave motion into usable electrical power through a patented wave energy converter system designed to ...Eco Wave Power Global AB (publ) (NASDAQ: WAVE) is focused on generating electricity from ocean and sea waves using an onshore (and nearshore) wave energy conversion (WEC) approach. The company’s core value proposition is turning wave motion into usable electrical power through a patented wave energy converter system designed to be “smart” and cost-efficient, with a relatively simple deployment concept intended to work across a range of sea conditions (including locations with both higher and lower wave energy). This positioning is central to how Eco Wave Power competes in renewable power: by aiming to reduce complexity and cost versus more complex offshore architectures, while improving predictability and engineering readiness for commercial sites.
From a business perspective, Eco Wave Power has pursued a development-and-deployment pipeline rather than being a pure power producer. The company references a portfolio of commercial agreements—such as power purchase agreements and concession-type arrangements—alongside letters of intent (LOIs). This structure supports scaling from technology demonstration toward revenue-generating projects, while maintaining project development momentum across geographies.
Product and technology aspects include the wave energy converter hardware and associated digital tools used to plan and optimize deployments. Public materials describe the use of advanced data/AI and digital twins to model wave patterns, equipment behavior, and scenario planning prior to deployment. That capability helps de-risk project design choices by improving site selection, performance modeling, and operational planning.
Cost/BOM considerations are reflected indirectly in the company’s claims that its converter is simple and inexpensive. While exact bill-of-materials (BOM) line items are not provided in the source data, the company’s emphasis on simplicity suggests an engineering strategy to limit specialized components and reduce installation and operational overhead compared with traditional wave energy systems.
Financially, the available snapshot data indicates the company is still in a development/early commercialization phase, with profitability metrics showing negative margins (e.g., negative EBIT/EBITDA and net profit margin figures in the provided TTM snapshot) and limited free-cash-flow indicators. Such patterns are common for renewable infrastructure developers that incur upfront engineering, development, and deployment costs before sustained generation and contracting translate into consistent operating cash flows. The company also trades on the NASDAQ Capital Market via an ADR.
Key people: Inna Braverman serves as CEO and is described as co-founder (with founding activity traced to 2011). Governance and leadership typically play a crucial role in securing partnerships and advancing deployments in multiple jurisdictions.
Headquarters are reported in Tel Aviv-Yafo, Israel, supporting a global execution model where projects and commercial activity span the United States, Taiwan, Sweden, Israel, Portugal, Mexico, and other locations.
Overall, Eco Wave Power’s “wishes” or strategic objectives implied by its model are to (1) expand geographically, (2) convert LOIs and pipeline projects into contracted and operating assets, and (3) continue improving performance predictability and cost efficiency through digital modeling and iterative engineering—progressing toward consistent generation and stronger financial results as deployments scale.
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).
$38203
-77.3%
—
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.
$-3.7M
-79.0%
-40.7%
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.
-610.5%
-914.1%
—
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).
-8416.0%
-504.7%
—
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.
-9729.2%
-687.0%
—
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.
$-3.3M
-78.1%
—
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.
-8623.9%
-683.1%
—
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.
23.6%
+48.5%
-37.6%
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.
2.49x
-41.0%
+43.6%
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 day, everyone. Welcome to the Eco Wave Power First Quarter 2026 Earnings Call. It is now my pleasure to turn the floor over to your host, Aharon Yehuda, the CFO of Eco Wave Power. The floor is yours.
Aharon Yehuda: Thank you. Good morning, everyone, and thank you for joining Eco Wave Power's First Quarter 2026 Earnings Call. Turning to our financial results. During the first quarter of 2026, we continued advancing our global project portfolio, while maintaining disciplined cost management across the organization. Operating expenses for the quarter were approximately USD 682,000, representing an 11% decrease compared to the first quarter of 2025. The reduction was primarily driven by lower research and development, sales and marketing and general and administrative expenses. Research and development expenses decreased to approximately USD 140,000 compared to USD 181,000 during the same period last year. Sales and marketing expenses were approximately USD 71,000 compared to USD 77,000 in the prior year period, while general and administrative expenses decreased to approximately USD 499,000 from USD 539,000 last year. Operating loss improved year-over-year, decreasing to approximately USD 682,000 compared to USD 765,000 during the same period in 2025. Other income remained relatively stable at approximately USD 52,000 compared to USD 54,000 during the same period last year and was primarily driven from technology demonstration activity as well as management fees for -- from a joint venture. Net loss for the quarter was approximately USD 695,000 compared to approximately USD 505,000 during the same period last year. The change was primarily attributable to foreign exchange fluctuation, including the appreciation of the Swedish krona and this new Israeli shekel against the U.S. dollar, which impacted financial income during the quarter. Importantly, as of March 31, 2026, the company held approximately $5.3 million in total liquidity, including cash, cash equivalents and short-term bank deposits. We believe this provides a solid financial foundation to continue advancing our operational projects, strategic initiatives and business development activities. Operationally, the company continued progressing projects across Israel, the United States, in Portugal, in Taiwan, in India and in South Africa during the quarter, while also expanding discussions around potential future applications of wave energy within emerging AI-related energy infrastructure market. As we move forward, we remain focused on disciplined capital allocation, project execution and strategic partnerships designed to support long-term commercial growth. I will now turn the call over to our Founder and Chief Executive Officer, Inna Braverman.
Inna Braverman: Thank you, Aharon, and thank you, everyone, for joining us today. The first quarter of 2026 was an important quarter for Eco Wave Power, both operationally and strategically. During the quarter, we continued …
