Greenwave Technology Solutions, Inc. GWAV
name from "MassRoots, Inc." to "Greenwave Technology Solutions, Inc." We sold all of our social media assets
on October 28, 2021 for cash consideration equal to $10,000 and have discontinued all operations related to our social media business.
On September 30, 2021, we closed our acquisition of Empire Services, Inc. ("Empire"), which operates 13 metal recycling facilities
in Virginia, North Carolina, and Ohio. The acquisition was effective October 1, 2021 upon the effectiveness of the Certificate of Merger
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $46.7M | $33.3M | $35.7M | $34.0M | $8.1M | $7.0K | $23.7K | $19.6K | $319.2K | — |
| Cost of revenue | $34.8M | $20.3M | $21.2M | $21.5M | $5.2M | $1.3K | — | $994 | $630 | $180.4K |
| Gross profit | $11.9M | $13.0M | $14.5M | $12.4M | $2.9M | $5.7K | — | $18.6K | $318.6K | — |
| SG&A | — | — | — | — | — | — | — | $13.9M | $37.1M | $14.3M |
| Total operating expenses | $31.7M | $47.3M | $34.0M | $23.3M | $5.8M | $1.2M | $3.5M | $13.9M | — | — |
| Operating income | -$19.8M | -$34.3M | -$19.5M | -$10.9M | -$2.9M | -$1.2M | -$3.4M | -$13.9M | -$36.8M | -$13.6M |
| Interest expense | $2.8M | $5.4M | $8.9M | $34.1M | $10.6M | $5.1M | $4.9M | $2.0M | $659.8K | $3.8M |
| Pre-tax income | -$21.6M | -$23.9M | -$26.9M | -$35.0M | -$1.6M | -$14.7M | -$34.3M | -$16.0M | -$44.4M | -$18.0M |
| Income tax | — | $0 | $0 | — | — | — | — | — | — | — |
| Net income | -$21.6M | -$23.9M | -$26.9M | -$35.0M | -$1.6M | -$14.7M | -$34.3M | -$16.0M | -$44.4M | -$18.0M |
| EPS, basic | -41.25 | -932.14 | -385.81 | -9.71 | 0.57 | -23.99 | -0.19 | — | — | — |
| EPS, diluted | -41.21 | -601.70 | -385.81 | -9.71 | 0.36 | -23.99 | -0.19 | -0.10 | -0.46 | -0.34 |
| Shares, diluted (wtd. avg.) | $596.4K | $107.8K | $87.1K | $6.6M | $8.2M | $4.7M | $576.8M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | — | — | — | — | $1.5K | $1.1K | $29.6K | — | — |
| Receivables | $1.1M | $1.3M | $646.4K | $215.3K | — | — | — | — | — | $3.3K |
| Inventory | $2.2M | $2.9M | $200.4K | $189.6K | $381.0K | — | — | — | — | — |
| Total current assets | $4.8M | $7.6M | $2.7M | $1.2M | $3.3M | $98.6K | $3.1K | $43.6K | $1.2M | $377.8K |
| Property, plant and equipment | $35.8M | $37.4M | $23.5M | $13.2M | $2.9M | — | — | $6.7K | $55.1K | $77.3K |
| Goodwill | — | — | — | — | $2.5M | — | — | — | — | — |
| Other intangibles | $14.0M | $16.9M | $19.9M | $22.9M | $2.9M | — | — | — | — | — |
| Total assets | $55.2M | $63.1M | $46.4M | $41.5M | $38.2M | $98.6K | $3.1K | $569.1K | $2.6M | $723.6K |
| Accounts payable | $3.0M | $2.4M | $1.9M | $1.5M | $623.6K | $1.1M | — | — | $1.3M | $382.6K |
| Short-term debt | $7.2M | $10.2M | $2.7M | — | $240.0K | — | — | — | — | — |
| Total current liabilities | $23.2M | $21.1M | $40.5M | $19.0M | $59.5M | $37.7M | $36.9M | $7.4M | $13.9M | $1.7M |
| Long-term debt | $5.8M | $4.3M | $23.4M | $7.0M | $25.0K | — | — | — | — | — |
| Total liabilities | $29.2M | $26.1M | $50.9M | $26.1M | $61.5M | $37.8M | $36.9M | $7.4M | $13.9M | — |
| Retained earnings | -$520.9M | -$496.3M | -$395.9M | -$362.3M | -$298.4M | -$301.2M | -$189.6M | -$80.8M | -$74.3M | -$29.9M |
| Total equity | $25.9M | $37.0M | -$4.5M | $15.3M | -$23.3M | -$37.7M | -$36.9M | -$6.8M | -$11.4M | -$1.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.0M | -$17.3M | -$1.8M | -$2.6M | -$2.5M | -$1.0M | -$1.8M | -$6.4M | -$8.0M | -$6.2M |
| Depreciation and amortisation | $5.7M | $4.4M | $5.8M | $3.8M | $888.8K | $0 | $45.3K | $443.1K | $416.3K | $19.5K |
| Stock-based compensation | $100.0K | $823.5K | $0 | — | $166.9K | — | $222.7K | $5.7M | $22.1M | $7.4M |
| Capital expenditure | — | $3.6M | $1.8M | $5.9M | $218.7K | — | — | $4.0K | — | — |
| Investing cash flow | -$934.3K | -$15.9M | -$1.7M | -$5.9M | -$77.7K | — | $91.0K | -$264.6K | -$314.8K | -$83.8K |
| Financing cash flow | $5.3M | $34.2M | $4.2M | $6.4M | $5.5M | $1.0M | $1.7M | $5.5M | $9.1M | $6.3M |
| Dividends paid | — | — | — | — | — | — | $28.9M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-028562.
Others in SIC 5051
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| RS | RELIANCE, INC. | $20.45B | 28.6x | 3.3% |
| RYZ | Ryerson Holding Corp | $1.37B | — | -0.6% |
| FSTR | FOSTER L B CO | $400.0M | 55.1x | 1.7% |