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Advent Technologies Holdings (ADN)
NASDAQ:ADN
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Advent Technologies Holdings
(NASDAQ:ADN)
41Neutral
Advent Technologies Holdings (ADN) vs. S&P 500 (SPY)
Market Cap
$9.10M
Dividend YieldN/A
Average Volume (3M)15.70K
Price to Earnings (P/E)―
Beta (1Y)2.94
Revenue Growth10.92%
EPS Growth52.75%
CountryUS
Employees100
SectorUtilities
Sector Strength92
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-24.90
Shares Outstanding2,636,508
10 Day Avg. Volume10,250
30 Day Avg. Volume15,699
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)8.54
Price to Cash Flow (P/CF)0.40
P/FCF Ratio0.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Advent Technologies Holdings Business Overview & Revenue Model
Company DescriptionAdvent Technologies Holdings, Inc., an advanced materials and technology development company, operates in the fuel cell and hydrogen technology markets. It develops, manufactures, and assembles fuel cell systems and critical components that determine the performance of hydrogen fuel cells and other energy systems. The company offers high-temperature proton exchange membrane (HT-PEM) fuel cells, HT-PEM based membrane electrode assemblies, membranes, and electrodes. It serves stationary and portable power, automotive, aviation, energy storage, and sensor markets. The company is headquartered in Boston, Massachusetts.
How the Company Makes MoneyAdvent Technologies Holdings makes money primarily through the sale of its advanced fuel cell products and systems. The company generates revenue from the design, development, and manufacturing of high-temperature proton exchange membranes (HT-PEM), which are critical components in fuel cells. These products are sold to original equipment manufacturers (OEMs) and end-users across different industries that require clean and efficient energy solutions. Additionally, Advent Technologies benefits from partnerships and collaborations with other companies and research institutions to advance fuel cell technology and broaden its market reach. The company may also engage in licensing agreements for its proprietary technologies and intellectual property, adding another revenue stream. Advent's earnings are influenced by the growing global demand for renewable energy solutions and the transition toward sustainable energy sources in various sectors.
Advent Technologies Holdings Financial Statement Overview
Summary
Advent Technologies Holdings is facing considerable financial difficulties, characterized by consistent losses and declining equity. While there is a slight revenue uptick in the TTM period, profitability remains a major concern. The balance sheet shows alarming signs of financial distress, and cash flow operations are unsustainable without external financing. Overall, the company needs strategic changes to stabilize and improve its financial health.Income Statement
Advent Technologies Holdings has faced significant financial challenges, with declining revenue and persistent negative margins over the years. The TTM revenue growth rate is positive at 21.2%, indicating recent improvement. However, the gross profit margin and net profit margin remain deeply negative, reflecting high operational costs and losses. EBIT and EBITDA margins are also negative, further emphasizing profitability issues.35
Negative
Balance Sheet
The balance sheet shows a worrying trend with negative stockholders' equity in the latest TTM period, indicating insolvency risks. The debt-to-equity ratio is not meaningful due to negative equity, but the overall leverage is concerning. The equity ratio has drastically declined, highlighting financial instability and potential solvency issues.20
Very Negative
Cash Flow
Cash flow analysis reveals negative free cash flow and operating cash flow, although the free cash flow has shown improvement in the latest TTM period. The operating cash flow to net income ratio indicates inefficiency in converting income to cash. The company is reliant on financing activities to manage cash shortfalls.30
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 5.89M | 4.86M | 7.84M | 7.07M | 882.65K | 620.17K | Gross Profit |
| -9.08M | -13.43M | -744.00K | 1.66M | -539.92K | 181.15K | EBIT |
| -46.07M | -70.34M | -85.43M | -44.11M | -1.63M | -696.56K | EBITDA |
| -45.52M | -53.23M | -44.62M | -34.07M | -3.05M | -157.22K | Net Income Common Stockholders |
| -64.88M | -71.40M | -74.34M | -20.52M | -993.85K | 2.87M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 32.87M | 3.56M | 32.87M | 79.76M | 24.95K | 520.42K | Total Assets |
| 89.59M | 34.74M | 89.59M | 163.03M | 93.92M | 226.01M | Total Debt |
| 12.08M | 10.42M | 12.08M | 137.81K | 2.77M | 500.00K | Net Debt |
| -20.79M | 6.85M | -20.79M | -79.63M | 2.74M | -20.42K | Total Liabilities |
| 25.44M | 21.29M | 25.44M | 32.83M | 88.92M | 221.01M | Stockholders Equity |
| 64.15M | 13.45M | 64.15M | 130.20M | 5.00M | 5.00M |
| Cash Flow | Free Cash Flow | ||||
| -2.86M | -36.74M | -46.33M | -41.98M | -3.32M | -665.85K | Operating Cash Flow |
| -2.69M | -32.12M | -32.13M | -35.84M | -3.20M | -630.91K | Investing Cash Flow |
| 383.00K | -6.23M | -14.52M | -25.56M | 132.93M | 265.06K | Financing Cash Flow |
| 3.85M | 9.06M | -40.00K | 141.50M | -130.22M | -4.64M |
Advent Technologies Holdings Technical Analysis
Negative
3.10
Price Trends
4.84
Negative
5.30
Negative
4.10
Negative
Market Momentum
-0.15
Positive
29.29
Positive
5.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADN, the sentiment is Negative. The current price of 3.1 is below the 20-day moving average (MA) of 4.55, below the 50-day MA of 4.84, and below the 200-day MA of 4.10, indicating a bearish trend. The MACD of -0.15 indicates Positive momentum. The RSI at 29.29 is Positive, neither overbought nor oversold. The STOCH value of 5.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ADN.
Advent Technologies Holdings Risk Analysis
Advent Technologies Holdings disclosed 42 risk factors in its most recent earnings report. Advent Technologies Holdings reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Advent Technologies Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $12.17B | 16.15 | 5.32% | 4.37% | 5.50% | -9.06% | |
59 Neutral | $4.46B | ― | -5.49% | ― | 10.53% | 90.76% | |
45 Neutral | $101.91M | ― | -18.96% | ― | 11.09% | 0.41% | |
43 Neutral | $1.18B | ― | -90.88% | ― | -29.45% | -10.79% | |
41 Neutral | $9.10M | ― | -771.66% | ― | 10.92% | 52.75% | |
34 Underperform | $5.59M | ― | -1357.83% | ― | 1262.77% | 2.83% |
* Utilities Sector Average
Performance Comparison
ADN
Advent Technologies Holdings
3.10
-2.60
-45.61%
BLDP
Ballard Power Systems
1.09
-2.06
-65.40%
FCEL
Fuelcell Energy
4.82
-29.08
-85.78%
PLUG
Plug Power
1.21
-1.93
-61.46%
BE
Bloom Energy
19.34
7.65
65.44%
HYZN
Hyzon Motors
0.64
-37.36
-98.32%
Advent Technologies Holdings Earnings Call Summary
Earnings Call Date: Mar 31, 2025 | % Change Since: -34.46% | Next Earnings Date: May 14, 2025
Earnings Call Sentiment Neutral
Advent Technologies' earnings call reflected a mix of significant technological advancements and strategic partnerships, which are promising for future growth. However, these positives are counterbalanced by substantial financial and operational challenges, including revenue decline, net losses, and cash flow concerns. The overall sentiment is one of cautious optimism, with a need for careful management of financial resources.Highlights
Technological Advancements
Advent achieved 2x the power of previous fuel cells per square centimeter and 2x the lifetime of competing systems with their Ion Pair MEA technology.
Strategic Partnerships
Strong collaborations with Airbus, U.S. Army, Hyundai, and other top companies, with a $13 million partnership with Airbus to develop fuel cells for aviation.
Cost Efficiency and Focus
Significant restructuring led to a 70% reduction in costs, focusing on core strengths and strategic partnerships.
Market Potential
Engagement with top automakers and the defense sector, with potential for significant market expansion.
Lowlights
Financial Challenges
Net loss of $25.7 million in Q4, with a revenue decline from $2 million to $1.5 million year-over-year.
Operational Downsizing
Closure of subsidiaries in Boston, Denmark, and the Philippines due to financial strains.
Uncertain Revenue Outlook
No revenue guidance for 2024 due to unpredictable market conditions and financial constraints.
Cash Flow Concerns
Existing cash balances are insufficient to support operations for the next 12 months, necessitating additional capital raising.
Company Guidance
During the Advent Technologies Fourth Quarter 2023 Earnings Call, Dr. Vasilis Gregoriou provided extensive insights into the company's recent developments and future outlook, emphasizing several key metrics. Advent's High-Temperature PEM fuel cell technology has shown significant advancements, achieving 2x the power of previous state-of-the-art fuel cells and targeting a levelized cost of electricity between $0.20 to $0.30 per kilowatt hour. The company has strategically shifted its focus to MEA innovation and manufacturing, aiming to significantly reduce operating expenses by 70% in 2024, from $50 million to below $20 million. Despite a decline in Q4 revenue to $1.5 million from $2 million due to decreased stationary fuel cell system orders, the company has maintained strong collaborations with notable partners like Airbus and Hyundai, and is working towards scalability. Advent's financial position remains challenging, with cash reserves at $3.6 million as of December 31, 2023, prompting exploration of additional capital-raising opportunities. Looking ahead, Advent is concentrating on strategic partnerships for technology development, with commercialization plans set for 2026, all while targeting zero cash burn and maintaining a lean operational structure.Advent Technologies Holdings Corporate Events
Executive/Board ChangesPrivate Placements and Financing
Advent Technologies Revises Board Amid Agreement Termination
Negative
Nov 8, 2024
Advent Technologies Holdings, Inc. terminated its Securities Purchase Agreement with an investor due to non-compliance, impacting a $1 million promissory note and a $2 million revolving credit line. Additionally, the company appointed Seth M. Lukash and Joseph P. Celia to its Board of Directors, bringing extensive experience in technology, finance, and strategic partnerships to bolster its leadership and navigate future market opportunities.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.