Based on the provided financial report articles, I generated the title for the article: "Newhaven (NEWH) Reports Financial Results for Q1 2025 and Provides Business Update" Please note that the title may not be exact, as the provided text does not contain a clear title. However, based on the content, I inferred the title to be related to Newhaven's financial results for Q1 2025 and a business update.

Press release · 5d ago
Based on the provided financial report articles, I generated the title for the article: "Newhaven (NEWH) Reports Financial Results for Q1 2025 and Provides Business Update" Please note that the title may not be exact, as the provided text does not contain a clear title. However, based on the content, I inferred the title to be related to Newhaven's financial results for Q1 2025 and a business update.

Based on the provided financial report articles, I generated the title for the article: "Newhaven (NEWH) Reports Financial Results for Q1 2025 and Provides Business Update" Please note that the title may not be exact, as the provided text does not contain a clear title. However, based on the content, I inferred the title to be related to Newhaven's financial results for Q1 2025 and a business update.

The financial report presents the financial statements of the company for the quarter ended March 31, 2025. The company reported a net loss of $X million, with total revenues of $Y million and total expenses of $Z million. The company’s balance sheet as of March 31, 2025, shows total assets of $W million, total liabilities of $V million, and total equity of $U million. The company’s cash and cash equivalents as of March 31, 2025, were $X million. The company also reported a significant increase in its mezzanine debt, which increased from $Y million as of December 31, 2023, to $Z million as of March 31, 2025. Additionally, the company reported a decrease in its retained earnings, which decreased from $W million as of December 31, 2023, to $X million as of March 31, 2025.

Overview

We are a developer of clean energy technologies, with a current focus on developing a thermochemical green hydrogen production technology to lower the cost of green hydrogen production. Hydrogen is a clean and abundant element that is crucial for various industries, but most hydrogen today is produced from dirty and limited resources like coal, oil, and natural gas. Our goal is to help usher in the green hydrogen economy by developing a novel low-cost thermochemical water splitting process that can use inexpensive heat sources like concentrated solar, geothermal, nuclear reactors, and industrial waste heat, rather than relying on expensive green electricity.

Financial Performance

For the three months ended March 31, 2025, the company reported the following financial results:

Metric Q1 2025 Q1 2024 Change
Selling and Marketing Expenses $106,479 $74,971 +$31,508
General and Administrative Expenses $267,453 $306,404 -$249
Research and Development Expenses $101,518 $88,939 +$12,579
Depreciation and Amortization Expense $821 $1,027 -$206
Other Income/(Expenses) $177 $337 -$160
Net Loss $476,094 $471,004 +$5,090

The company’s net loss increased slightly from $471,004 in Q1 2024 to $476,094 in Q1 2025, primarily due to an increase in operating expenses, particularly in selling and marketing and research and development. The company has not generated any revenue to date.

Liquidity and Capital Resources

As of March 31, 2025, the company had working capital of $1,643,210 and a shareholders’ deficit of $1,784,321. The company used $492,812 of cash for operating activities during the three months ended March 31, 2025, compared to $431,405 in the prior period.

The company’s independent auditors have expressed substantial doubt about its ability to continue as a going concern without additional capital becoming available. Management believes that the company will be able to continue to raise funds through the sale of securities to existing and new investors, and that funding from these sources and future revenue will provide the additional cash needed to meet its obligations and develop its core business operations.

Strengths and Weaknesses

Strengths:

  • Innovative technology that has the potential to significantly reduce the cost of green hydrogen production
  • Experienced management team and collaboration with a world-class research team at UC Santa Barbara
  • Significant market opportunity, with Goldman Sachs estimating the future green hydrogen market to be worth $12 trillion

Weaknesses:

  • The company has not generated any revenue to date and is heavily reliant on external financing to fund its operations
  • Substantial doubt about the company’s ability to continue as a going concern, as expressed by its independent auditors

Outlook

The company’s plan of operation within the next twelve months is to utilize its current cash balances to maintain the existing ThermoLoop™ technology development program at UC Santa Barbara. Management estimates that the company’s current cash and investment balances will be sufficient to support development activity and general and administrative expenses for the next nine months.

The company does not expect increased expenses until early 2026 when it plans to ramp up prototyping efforts related to its thermochemical water splitting technology. The company’s ability to continue as a going concern and successfully develop and commercialize its technology will depend on its ability to raise additional capital and achieve operational milestones.