Advent Technologies Files Q1 2024 10-Q
Ticker: ADNH · Form: 10-Q · Filed: Oct 15, 2024 · CIK: 1744494
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Advent Tech's Q1 2024 10-Q is in - check financials for clean energy hydrogen tech.
AI Summary
Advent Technologies Holdings, Inc. filed its 10-Q for the period ending March 31, 2024. The company reported its financial results and provided updates on its business operations. Key financial figures and operational details for the first quarter of 2024 are detailed within the filing.
Why It Matters
This filing provides investors with the latest financial performance and operational status of Advent Technologies, crucial for understanding the company's trajectory in the clean energy sector.
Risk Assessment
Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial health and operational risks detailed within can vary significantly.
Key Numbers
- 2024 Q1 — Reporting Period (Covers the first quarter of 2024)
- 2023-12-31 — Prior Year End (For comparative financial analysis)
- 2023-03-31 — Prior Year Q1 (For year-over-year comparison)
Key Players & Entities
- ADVENT TECHNOLOGIES HOLDINGS, INC. (company) — Filer of the 10-Q
- 20240331 (date) — End of the reporting period
- 20241015 (date) — Filing date
- AMCI Acquisition Corp. (company) — Former company name
FAQ
What were Advent Technologies' total revenues for the first quarter of 2024?
The filing does not explicitly state the total revenues for Q1 2024 in the provided header information. Detailed financial statements within the full 10-Q would contain this figure.
What is the company's primary business segment as indicated by the SIC code?
The company's Standard Industrial Classification (SIC) code is 3690, which corresponds to 'MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES'.
When did Advent Technologies change its name from AMCI Acquisition Corp.?
The company changed its name from AMCI Acquisition Corp. on June 22, 2018.
What is the fiscal year end for Advent Technologies?
The company's fiscal year ends on December 31st.
What is the company's principal executive office address?
The principal executive office is located at 500 Rutherford Avenue, Suite 102, Boston, MA 02129.
Filing Stats: 4,382 words · 18 min read · ~15 pages · Grade level 18.8 · Accepted 2024-10-15 08:00:38
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share ADN The Nasdaq Capital Ma
Filing Documents
- adventtech_10q.htm (10-Q) — 1242KB
- adventtech_ex31-1.htm (EX-31.1) — 14KB
- adventtech_ex31-2.htm (EX-31.2) — 20KB
- adventtech_ex32-1.htm (EX-32.1) — 7KB
- adventtech_ex32-2.htm (EX-32.2) — 8KB
- 0001829126-24-006791.txt ( ) — 7674KB
- adn-20240331.xsd (EX-101.SCH) — 70KB
- adn-20240331_cal.xml (EX-101.CAL) — 87KB
- adn-20240331_def.xml (EX-101.DEF) — 244KB
- adn-20240331_lab.xml (EX-101.LAB) — 490KB
- adn-20240331_pre.xml (EX-101.PRE) — 404KB
- adventtech_10q_htm.xml (XML) — 1266KB
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION Item 1. Unaudited Condensed Consolidated Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets 1 Unaudited Condensed Consolidated Statements of Operations 2 Unaudited Condensed Consolidated Statements of Comprehensive Loss 3 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity 4 Unaudited Condensed Consolidated Statements of Cash Flows 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 48 Item 4.
Controls and Procedures
Controls and Procedures 4 8
—OTHER INFORMATION
PART II—OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 52 Item 1A.
Risk Factors
Risk Factors 52 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52 Item 3. Defaults Upon Senior Securities 52 Item 4. Mine Safety Disclosures 52 Item 5. Other Information 52 Item 6. Exhibits 53
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Unaudited Condensed Consolidated Financial Statements
Item 1. Unaudited Condensed Consolidated Financial Statements ADVENT TECHNOLOGIES HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS ( Amounts in USD thousands, except share and per share amounts) As of March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 774 $ 3,562 Restricted cash, current 98 100 Accounts receivable, net 1,085 191 Contract assets 11 21 Inventories 2,077 2,707 Prepaid expenses and Other current assets 3,184 2,254 Total current assets 7,229 8,835 Non-current assets: Intangibles, net 77 79 Property and equipment, net 20,749 21,549 Right-of-use assets 3,046 3,216 Restricted cash, non-current 750 750 Other non-current assets 301 308 Available for sale financial asset - - Total non-current assets 24,923 25,902 Total assets $ 32,152 $ 34,737 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Trade and other payables $ 5,679 $ 5,087 Deferred income from grants, current 7 530 Contract liabilities 2,280 2,015 Loss contingency liabilities 5,140 - Other current liabilities 1,816 1,916 Operating lease liabilities 2,164 2,186 Income tax payable 176 179 Total current liabilities 17,262 11,913 Non-current liabilities: Warrant liability - 59 Long-term operating lease liabilities 7,852 8,230 Defined benefit obligation 86 83 Deferred income from grants, non-current 202 320 Other long-term liabilities 671 684 Total non-current liabilities 8,811 9,376 Total liabilities 26,073 21,289 Commitments and contingent liabilities Stockholders' equity Common stock ($ 0.0001 par value per share; Shares authorized: 500,000,000 at March 31, 2024 and December 31, 2023; Issued and outstanding: 2,605,135 and 2,580,159 at March 31, 2024 and December 31, 2023, respectively) - - Preferred stock ($ 0.0001 par value