Eco Wave Power Global AB (publ) Q2 2025 Earnings Report

Eco Wave Power Global AB (publ) EPS Results

• Actual EPS: -$0.24
• Consensus EPS: -$0.13
• Beat/Miss: Missed by -$0.11
• One Year Ago EPS: N/A

Eco Wave Power Global AB (publ) Revenue Results

• Actual Revenue: $0.10 million
• Expected Revenue: $0.10 million
• Beat/Miss: Met Expectations
• YoY Revenue Growth: N/A

Eco Wave Power Global AB (publ) Announcement Details

• Quarter: Q2 2025
• Date: 8/14/2025
• Time: Before Market Opens
• Conference Call Date: Thursday, August 14, 2025
• Conference Call Time: 7:00AM ET

Eco Wave Power Global AB (publ) (NASDAQ:WAVE), a wave energy company, engages in the development of a wave energy conversion (WEC) technology that converts ocean and sea waves into clean electricity. The company also holds various agreements comprising power purchase agreements, concession agreements, and other agreements worldwide with pipeline of projects with approximately 404.7 megawatts. It has operations in the United States, Sweden, Israel, the British Overseas Territory of Gibraltar, Greece, Portugal, China, Australia, and internationally. The company was formerly known as EWPG Holding AB (publ) and changed its name to Eco Wave Power Global AB (publ) in June 2021. Eco Wave Power Global AB (publ) was founded in 2011 and is headquartered in Tel Aviv-Yafo, Israel.

Eco Wave Power Global AB (publ) Q2 2025 Earnings Call Transcript

Key Takeaways

• Negative Sentiment: Operating expenses rose 15% in H1 2025, driven by R&D and project execution, leading to a net loss of $1.9 million.
• Positive Sentiment: Cash and short-term deposits totaled $7.94 million at quarter-end, supporting ongoing projects and future growth.
• Positive Sentiment: Installed floaters and onshore energy conversion unit at the Port of LA pilot station under a co-investment with Shell, demonstrating rapid project execution and regulatory approval.
• Positive Sentiment: Portugal megawatt-scale project advances toward ~90% wave availability, aiming to deliver near-continuous renewable electricity at scale.
• Positive Sentiment: Secured strategic partnerships and MOU in India, successful tender qualification in Taiwan, and feasibility agreement in South Africa to expand global commercialization.

Presentation

[Operator]

Welcome to the Echowave Power Second Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. I would now like to turn the call over to your host, Aaron Yehuda. You may begin, sir.

[Aharon Yehuda, CFO at Eco Wave Power Global]

Thank you. Good morning, everyone, and thank you for joining Ecopetrol Power's first second quarter earnings call. I'm Aaron Yehuda, and I'll start with a brief overview of our financial results, followed by our CEO, Inabrahman, who will provide an update on operations and strategic developments. Financial highlights of the first half of the year. Operating expenses for H1 twenty twenty five totaled $1,600,000 up by 239,000 from H1 twenty twenty four.

[Aharon Yehuda, CFO at Eco Wave Power Global]

This increase reflects our continued investment in R and D, engineering teams and project execution, including our U. S. And autograft projects. R and D expenses increased 25 to USD 399,000, driven primarily by our Portuguese project and threatening our engineering department. Sales and marketing expenses decreased by slightly by $123,000 reflecting more efficient investor communication.

[Aharon Yehuda, CFO at Eco Wave Power Global]

General and administrative expenses rose 22% to 1,100,000 mainly due to payroll for new U. S. Hires, hotel fees and travel costs associated with project expansion. Other income nearly doubled to USD 62,000, coming from technology demonstration services in Asia. Net loss for the 2025 was USD 1,900,000.0, reflecting growth, investment and foreign exchange impact.

[Aharon Yehuda, CFO at Eco Wave Power Global]

We ended the period with $7,940,000 in cash and short term bank deposits, providing a strong foundation to fund ongoing projects and future growth. Despite significant progress across all project phases, our operating expenses have increased modestly, demonstrating our disciplined approach to scaling operations. We remain focused on delivering long term value to shareholders while investing strategically in technology and global market expansion. I'll now turn the call over to Ilha Bagnman, our CEO, to provide insights into our project progress and strategic initiatives.

[Inna Braverman, CEO at Eco Wave Power Global]

Thank you, Alan, and good morning, everyone. I'm pleased to share our achievements during the 2025, which is a period marked by rapid execution, strategic growth and expanding global presence. I would like to start by explaining our commercialization strategy. Our approach to commercialization of Wave Energy is multilayered, designed to advance technology, demonstrating value and scale responsibly. First, we are building pilot projects in key markets.

[Inna Braverman, CEO at Eco Wave Power Global]

These pilots allow us to collect site specific data, conduct R and D and establish favorable regulatory framework, ensuring smooth entry into new markets while refining our technology for maximum performance. Second, we are advancing our Portugal megawatt scale project expected to operate with new continuous wave availability. This project will serve as a clear demonstration that in suitable locations, wave energy can deliver stable and dense renewable supply, complementing solar and wind and supporting grid integration on a large scale. Third, we are actively working on the reduction of the cost of our floaters, which is expected to lower the levelized cost of energy and allow us to offer competitive pricing while delivering continuous electricity. By combining technological innovation with cost efficiency, we are positioning Wave Energy to become a mainstream renewable solution.

[Inna Braverman, CEO at Eco Wave Power Global]

Beyond traditional energy applications, Wave Energy has the potential to power intensive operations, including AI infrastructure and coastal data centers. By providing stable, near continuous electricity, Wave Energy can support high demand computing environments while reducing reliance on carbon intensive sources. This highlights the versatility and strategic importance of our technology empowering the next generation of digital innovation. Turning to growth updates. In The United States, at Altoona Port Of LA, we completed the installation of the floaters and the onshore energy conversion unit for our first U.

[Inna Braverman, CEO at Eco Wave Power Global]

S. Wave energy project. This is particularly exciting because we announced the co investment agreement with Shell in April 2024, received the final license from the Port Of LA in March 2025, and just six months later, the pilot station is fully installed. This demonstrates that Eco Wave Power execute projects efficiently while maintaining high technical standards. In Portugal, preparation continued for the first megawatt hour project under our concession agreement.

[Inna Braverman, CEO at Eco Wave Power Global]

With wave availability expected to be approximately 90%, the project will demonstrate almost continuous energy generation, validating wave energy's potential as a reliable and dense renewable energy source. In Asia, our expansion continues with strategic initiatives in India and Taiwan. In India, we signed a memorandum of understanding with Fortune five hundred Petroleum to explore wave energy deployment at Mumbai Oil Terminal. The collaboration begins with site assessments and regulatory preparations laying the groundwork for a pilot project. In Taiwan, we are working with ITE International Ocean Energy, advancing local total production and permitting milestones.

[Inna Braverman, CEO at Eco Wave Power Global]

IKE has already successfully passed the first round qualification for wave energy tender, positioning us strongly for the next project phase. Beth Homme in Israel, the AWPDF-one project at Zakaport continues to serve as a key R and D and benchmarking site. Data collected here confirms that Wave Energy can generate significantly more power per site footprint than other renewable energy sources, providing an important foundation for global expansion. In Africa, we signed a feasibility study agreement with Africa Great Future Development for a potential project in South Africa. With over 2,800 kilometers of coastline and pressing need for energy diversification, this market holds considerable long term potential.

[Inna Braverman, CEO at Eco Wave Power Global]

We are also proud to participate in the Atlantic Wave Energy Sustainable Deployment Initiative, a €2,450,000 European project that will accelerate commercial scale wave energy adoption across the Atlantic Region. Finally, I want to highlight our leadership strengths. In July, Hilary Ackerman joined our Board of Directors with over thirty years of experience in energy and finance, including senior roles at Vistra Energy, Goldman Sachs and UBS. Hillary brings valuable expertise to support our global commercialization strategy and strengthen corporate governance. Overall, the 2025 shows that EcoX Power is delivering on its promises, advancing pilots, completing installations, securing regulatory approval, forming strategic partnerships and expanding globally.

[Inna Braverman, CEO at Eco Wave Power Global]

With our strong financial foundation of US7.94 million dollars in cash and short term deposits and a growing product pipeline, we are well positioned to bring Wave Energy to mainstream renewable energy markets, delivering innovative, sustainable and high value solutions for our shareholders and partners. Thank you for your continued support.

[Operator]

The meeting has now concluded. Thank you for joining and have a pleasant day.

Participants

Analysts

• Aharon Yehuda, CFO at Eco Wave Power Global
• Inna Braverman, CEO at Eco Wave Power Global