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Advent Technologies Holdings (ADN)
NASDAQ:ADN
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Advent Technologies Holdings
(NASDAQ:ADN)
Rating:40Underperform
Price Target:
$2.00
▼(-3.85%Downside)
Advent Technologies Holdings (ADN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.50M
Dividend YieldN/A
Average Volume (3M)22.69K
Price to Earnings (P/E)―
Beta (1Y)2.51
Revenue Growth-14.80%
EPS Growth55.41%
CountryUS
Employees100
SectorUtilities
Sector Strength68
IndustryRenewable Utilities
Share Statistics
EPS (TTM)N/A
Shares Outstanding2,670,286
10 Day Avg. Volume19,866
30 Day Avg. Volume22,687
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.45
Price to Sales (P/S)0.00
P/FCF Ratio-2.01
Enterprise Value/Market Cap1.63
Enterprise Value/Revenue0.37
Enterprise Value/Gross Profit4.40
Enterprise Value/Ebitda-0.05
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. is a leading provider in the fuel cell and hydrogen technology sectors. The company specializes in the development and production of advanced materials, components, and systems that are integral to the creation of fuel cells and other clean energy solutions. Advent's core products include high-temperature proton exchange membranes (HT-PEM), fuel cell systems, and other related technologies that enable efficient and sustainable energy generation for various industries, including transportation, renewable energy, and power generation.
How the Company Makes MoneyAdvent Technologies Holdings generates revenue through the sale of its proprietary fuel cell components and systems. The company's primary revenue streams include the commercialization of its high-temperature proton exchange membranes (HT-PEM), fuel cell stacks, and complete systems for a variety of applications. Additionally, Advent engages in strategic partnerships and collaborations with other companies and research institutions to enhance its product offerings and expand its market reach. These partnerships often involve joint development projects and licensing agreements, providing additional revenue opportunities. The company also benefits from government grants and funding related to the advancement of clean energy technologies, further contributing to its earnings.
Advent Technologies Holdings Earnings Call Summary
Earnings Call Date:May 14, 2025
(Q4-2023)
| % Change Since: -22.68%|
Next Earnings Date:Aug 07, 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.Q4-2023 Updates
Positive Updates
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.
Negative Updates
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 Financial Statement Overview
Summary
Advent Technologies Holdings displays a mixed financial performance. Improvements in cash flow contrast with persistent profitability challenges and a weak balance sheet. Negative equity and recurring losses are key concerns.Income Statement
Advent Technologies Holdings has experienced significant volatility in its revenue and profitability. While the company managed to reduce its net loss in the latest year, the revenue growth has been inconsistent, with a notable decline from 2022 to 2023. Gross profit margin improved significantly in 2024, but the EBIT and EBITDA margins remain negative, indicating operational challenges. The net profit margin is also negative, showing the company is not profitable yet.35
Negative
Balance Sheet
The company's balance sheet reveals a negative stockholders' equity position in 2024, suggesting financial instability and potential solvency issues. The debt-to-equity ratio is not calculable due to negative equity, but the company has a significant amount of liabilities compared to equity. The equity ratio has dramatically decreased over the years, indicating deteriorating financial health.25
Negative
Cash Flow
Advent Technologies Holdings improved its operating cash flow to positive in 2024, marking a significant turnaround from previous years. The free cash flow has also turned positive after years of negative figures. However, the operating cash flow to net income ratio is distorted by the negative net income, and the overall cash flow stability is uncertain.45
Neutral
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.28M | 4.86M | 7.84M | 7.07M | 882.65K |
| Gross Profit | 1.79M | -13.43M | -744.00K | 1.66M | -539.92K |
| EBITDA | -16.92M | -53.23M | -44.62M | -34.07M | -3.05M |
| Net Income | -40.99M | -71.40M | -74.34M | -20.52M | -993.85K |
Balance Sheet | |||||
| Total Assets | 8.01M | 34.74M | 89.59M | 163.03M | 93.92M |
| Cash, Cash Equivalents and Short-Term Investments | 381.00K | 3.56M | 32.87M | 79.76M | 24.95K |
| Total Debt | 832.00K | 10.42M | 12.08M | 137.81K | 2.77M |
| Total Liabilities | 29.30M | 21.29M | 25.44M | 32.83M | 88.92M |
| Stockholders Equity | -21.30M | 13.45M | 64.15M | 130.20M | 5.00M |
Cash Flow | |||||
| Free Cash Flow | 1.31M | -36.74M | -46.33M | -41.98M | -3.32M |
| Operating Cash Flow | 1.40M | -32.12M | -32.13M | -35.84M | -3.20M |
| Investing Cash Flow | 1.21M | -6.23M | -14.52M | -25.56M | 132.93M |
| Financing Cash Flow | 850.00K | 9.06M | -40.00K | 141.50M | -130.22M |
Advent Technologies Holdings Technical Analysis
Negative
2.08
Price Trends
2.44
Negative
3.39
Negative
3.83
Negative
Market Momentum
-0.16
Positive
38.32
Neutral
22.57
Neutral
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 2.08 is below the 20-day moving average (MA) of 2.36, below the 50-day MA of 2.44, and below the 200-day MA of 3.83, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 38.32 is Neutral, neither overbought nor oversold. The STOCH value of 22.57 is Neutral, 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 46 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 (67)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $16.54B | 17.06 | 4.47% | 3.55% | 4.77% | 6.10% | |
51 Neutral | $121.82M | ― | -82.96% | ― | -86.10% | -49.68% | |
48 Neutral | $37.77M | ― | -27.32% | ― | -46.17% | -18.67% | |
40 Underperform | $5.50M | ― | -771.66% | ― | -14.80% | 55.41% | |
38 Underperform | $5.06M | ― | -1134.77% | ― | ― | ― | |
32 Underperform | $7.03M | ― | -335.00% | ― | ― | ― | |
31 Underperform | $5.66M | ― | -1.94% | ― | ― | -91.89% |
* Utilities Sector Average
Performance Comparison
ADN
Advent Technologies Holdings
2.08
-1.45
-41.08%
CREG
Smart Powerr Corp
0.23
-0.81
-77.88%
HTOO
Fusion Fuel Green
0.20
-0.62
-75.61%
NRGV
Energy Vault Holdings
0.85
-0.12
-12.37%
WAVE
Eco Wave Power Global
6.49
3.80
141.26%
BNRG
Brenmiller
2.72
-1.98
-42.13%
Advent Technologies Holdings Corporate Events
Delistings and Listing ChangesRegulatory Filings and Compliance
Advent Technologies Faces Nasdaq Compliance Notification
Neutral
Apr 17, 2025
On April 16, 2025, Advent Technologies Holdings received a notification from Nasdaq regarding non-compliance with periodic filing requirements due to the delayed submission of its Annual Report for the fiscal year ended December 31, 2024. Although this notice does not immediately affect the company’s stock listing or trading, Advent has until June 15, 2025, to submit a compliance plan. If accepted, Nasdaq may grant an extension until October 13, 2025, to regain compliance. Advent intends to submit the plan by April 30, 2025, and aims to file the overdue report by the same date, ensuring future compliance with SEC reporting obligations.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.