<!DOCTYPE html><html lang="en"><head><meta http-equiv="origin-trial" content="A/kargTFyk8MR5ueravczef/wIlTkbVk1qXQesp39nV+xNECPdLBVeYffxrM8TmZT6RArWGQVCJ0LRivD7glcAUAAACQeyJvcmlnaW4iOiJodHRwczovL2dvb2dsZS5jb206NDQzIiwiZmVhdHVyZSI6IkRpc2FibGVUaGlyZFBhcnR5U3RvcmFnZVBhcnRpdGlvbmluZzIiLCJleHBpcnkiOjE3NDIzNDIzOTksImlzU3ViZG9tYWluIjp0cnVlLCJpc1RoaXJkUGFydHkiOnRydWV9"> <script type="text/javascript" async="" src="https://www.google-analytics.com/analytics.js"></script><script type="text/javascript" async="" src="https://www.googletagmanager.com/gtag/js?id=UA-113590965-4&l=dataLayer&cx=c&gtm=45je4b70v895705171za200"></script><script type="text/javascript" async="" charset="utf-8" src="https://www.gstatic.com/recaptcha/releases/-ZG7BC9TxCVEbzIO2m429usb/recaptcha__en.js" crossorigin="anonymous" integrity="sha384-gaZtYaI7oJHEOo1YO6VuoCE4iZ5fMV9mYHP0BHf+r2ttABnpWWCIkgI6ItNW4ZdO"></script><script async="" src="https://www.googletagmanager.com/gtag/js?id=G-REPSH58KSM"></script> <script async="" src="https://www.googletagmanager.com/gtm.js?id=GTM-5KBPWNG"></script> <meta charset="utf-8"> <meta http-equiv="content-language" content="en"> <meta name="google" content="notranslate"> <title>NVVE - Earnings call transcript Q3 2024 | Nuvve Holding Corp.</title> <meta property="og:title" content="NVVE - Earnings call transcript Q3 2024"> <meta property="og:description" content="2024 Q3 earnings call transcript for Nuvve Holding Corp."> <meta property="og:image" content="https://files.capedge.com/images/logo/1836875.png"> <meta property="og:url" content="https://capedge.com/transcript/1836875/2024Q3/NVVE"> <meta property="og:type" content="website"> <meta name="twitter:card" content="summary_large_image"> <meta name="viewport" content="width=device-width, initial-scale=1.0, maximum-scale=1.0, user-scalable=no, shrink-to-fit=no"> <link rel="stylesheet" href="/css/style.css?v=20241113T075656"> <link rel="icon" sizes="32x32" type="image/png" href="/img/icon-200.png"> <link rel="apple-touch-icon" sizes="200x200" href="/img/icon-200.png"> <link rel="canonical" href="https://capedge.com/transcript/1836875/2024Q3/NVVE"> </head> <body class="plan-free no-sidebar-wrap"> <a name="pageTop" id="pageTop"></a> <div id="alert-container"></div> <div class="d-lg-none" id="mobile-mode-canary"></div> <div id="main-container"> <div id="above-footer"> <div class="container"> <div class="row align-items-center py-3 py-lg-2 d-print-none"> <div class="col-4 col-lg-3 order-1 pr-0"> <a href="/user/dashboard" id="logo-container"><img src="/img/capedge-logo-by-finsight.svg?v=20241113T075656" alt="CapEdge" width="174" height="37"></a> </div> <div class="col-12 col-lg order-3 order-lg-2 pt-3 pt-lg-0"> <form action="/search" method="get" id="mainSearchForm" spellcheck="false" autocomplete="off" role="search"> <div class="input-group"> <div class="tokenInput tokeninput-container tokeninput-empty flex-grow-1 form-control header-search"> <input id="searchInput" type="search" name="q" placeholder="Search by ticker, company or words in SEC filings" value="" tabindex="1" autocomplete="off" autocorrect="off" autocapitalize="off" style="width: 100%;"> <script class="tokeninput-data" type="application/json"> { "resultDataProp":"suggestions", "resultTextProp":"name", "resultValueProp":"value", "url":"/search/suggestions?profiles=true&q=$query&ctxType=company&ctxVal=1836875", "values":[], "type":"lookup", "completionGroups" : { "profiles" : { "heading" : "Filing Profile", "newOption" : false }, "searches" : { "heading" : "Search Across Filings, News and Transcripts", "newOption" : false } }, "autoSuggestMode":true } </script> </div> <div id="searchLoading">Loading</div> <div id="searchAdvanced" class="d-none"><a href="/help/search" tabindex="2">Advanced</a></div> </div> </form> </div> <div class="col-8 col-lg-3 order-2 order-lg-3"> <div class="d-flex justify-content-end align-items-center user-action-buttons"> <a href="https://help.capedge.com/release-notes/" target="_blank" class="mr-4 text-decoration-none header-help-link"><span class="d-xxl-none"><i class="fe fe-help-circle d-block"></i></span><span class="d-none d-xxl-block"><i class="fe fe-info"></i> What's new?</span></a> <div class="btn-toolbar align-items-center" role="toolbar" id="favourites-toolbar"> <div class="btn-group" role="group"> <button type="button" id="btn-toggle-favourites" class="btn top-level active" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="favourites-col" data-original-title="Toggle favorites"><i class="fe fe-star"></i></button> <button type="button" id="btn-toggle-alerts" class="btn top-level" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="alerts-col" data-original-title="Toggle alert feed"><i class="fe fe-bell"></i></button> <button type="button" id="btn-toggle-notes" class="btn top-level" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="notes-col" data-original-title="Toggle note list"><i class="fe fe-edit"></i></button> <div class="btn-group" role="group"> <button class="btn top-level dropdown-toggle user-plan-free" type="button" data-toggle="dropdown" aria-haspopup="true" aria-expanded="false">TS</button> <div class="dropdown-menu dropdown-menu-right"> <a class="dropdown-item" href="/user/edit"> <i class="dropdown-icon fe fe-user"></i>Edit profile </a> <a class="dropdown-item" href="/user/changepassword"> <i class="dropdown-icon fe fe-shield"></i>Change password </a> <a class="dropdown-item" href="/user/settings"> <i class="dropdown-icon fe fe-sliders"></i>Email settings </a> <a class="dropdown-item" href="/user/myaccount"> <i class="dropdown-icon fe fe-info"></i>Manage my account </a> <a class="dropdown-item" href="/user/support"> <i class="dropdown-icon fe fe-life-buoy"></i>Support </a> <div class="dropdown-divider"></div> <div class="dropdown-item"> <form action="/user/logout" method="post"> <button type="submit" class="btn btn-sm btn-outline-primary w-100">Logout</button> </form> </div> </div> </div> </div> </div> </div> </div> </div> <div class="row d-print-none"> <div class="col"> <ul class="nav nav-tabs align-items-center" id="primary-menu" data-test="menuMain"> <li class="nav-item" data-test="menuMainItem"> <a class="nav-link" href="/">Home</a> </li> <li class="nav-item" data-test="menuMainItem"> <a class="nav-link" href="/sector"><span class="d-none d-lg-inline">Sectors & Industries</span><span class="d-lg-none">Sectors</span></a> </li> <li class="nav-item separator"></li> <li class="nav-item" data-test="menuMainItem"> <a class="nav-link" href="/earnings-calendar">Earnings</a> </li> <li class="nav-item" data-test="menuMainItem"> <a class="nav-link" href="/ipo-calendar">IPOs</a> </li> <li class="nav-item" data-test="menuMainItem"> <a class="nav-link" href="/transcript/by/companyId/all">Transcripts</a> </li> <li class="nav-item separator"></li> <li class="nav-item" data-test="menuMainItem"> <a class="nav-link" href="/insider">Insider</a> </li> <li class="nav-item" data-test="menuMainItem"> <a class="nav-link" href="/institutional">Institutional</a> </li> <li class="nav-item right" data-test="menuMainItem"> <a class="nav-link" href="/user/dashboard">My Dashboard</a> </li> </ul> </div> </div> <div class="row flex-nowrap pb-5" id="columns-row" data-open="1"> <div class="col order-2 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none " id="favourites-col"> <div class=""> <div class="btn-toolbar align-items-center w-100" role="toolbar" id="favourites-toolbar"> <div class="mr-auto toolbar-title" data-count="0">Favorites</div> <div class="btn-group" role="group"> <button type="button" class="btn btn-sm" data-toggle="modal" data-target="#modalAddFavourite"><i class="fe fe-plus-circle"></i></button> <button type="button" class="btn btn-sm d-md-none" data-click-toggle="favourites-col"><i class="fe fe-x"></i></button> </div> </div> </div> <div class="br"> <ul id="favourites-list" class="list-unstyled mb-0 w-100 empty-placeholder" data-count="0"></ul> </div> </div> <div class="col order-3 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none collapsed" id="alerts-col"> <div class=""> <div class="btn-toolbar align-items-center w-100" role="toolbar" id="alerts-toolbar"> <div class="mr-auto toolbar-title">Alert feed</div> <div class="btn-group" role="group"> <button type="button" class="btn btn-sm" data-toggle="modal" data-target="#modalAlertSettings" id="btn-alert-config"><i class="fe fe-settings"></i></button> <button type="button" class="btn btn-sm d-md-none" data-click-toggle="alerts-col"><i class="fe fe-x"></i></button> </div> </div> </div> <div class="br"> <ul id="alerts-list" class="list-unstyled mb-0 block-list w-100 empty-placeholder"> </ul> </div> </div> <div class="col order-4 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none collapsed" id="notes-col"> <div> <div class="btn-toolbar align-items-center w-100" role="toolbar" id="notes-toolbar"> <div class="mr-auto toolbar-title" data-count="0">Notes</div> <div class="btn-group" role="group"> <div> <div id="add-note-recaptcha" class="g-recaptcha" data-sitekey="6Le1YlooAAAAAIpAmJQ9Vu8FsSGGsncij4tpVSol" data-callback="recaptchaAddNote" data-size="invisible"><div class="grecaptcha-badge" data-style="bottomright" style="width: 256px; height: 60px; display: block; transition: right 0.3s; position: fixed; bottom: 14px; right: -186px; box-shadow: gray 0px 0px 5px; border-radius: 2px; overflow: hidden;"><div class="grecaptcha-logo"><iframe title="reCAPTCHA" width="256" height="60" role="presentation" name="a-op6r2yl77aow" frameborder="0" scrolling="no" sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox allow-storage-access-by-user-activation" src="https://www.google.com/recaptcha/api2/anchor?ar=1&k=6Le1YlooAAAAAIpAmJQ9Vu8FsSGGsncij4tpVSol&co=aHR0cHM6Ly9jYXBlZGdlLmNvbTo0NDM.&hl=en&v=-ZG7BC9TxCVEbzIO2m429usb&size=invisible&cb=v1ftffg8wkpa"></iframe></div><div class="grecaptcha-error"></div><textarea id="g-recaptcha-response" name="g-recaptcha-response" class="g-recaptcha-response" style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea></div><iframe style="display: none;"></iframe></div> <button type="button" class="btn btn-sm prevent-double-click" id="add-note-button"><i class="fe fe-plus-circle"></i></button> </div> <div class="dropdown" id="note-sort"> <button class="btn btn-sm" type="button" id="dropdownMenuButton" data-toggle="dropdown"> <i class="fe fe-settings"></i> </button> <div class="dropdown-menu dropdown-menu-right"> <h6 class="dropdown-header">Sort notes by</h6> <button class="dropdown-item active" data-sort="created">Created</button> <button class="dropdown-item" data-sort="updated">Updated</button> <button class="dropdown-item" data-sort="title">Alphabetical</button> </div> </div> <button type="button" class="btn btn-sm d-md-none" data-click-toggle="notes-col"><i class="fe fe-x"></i></button> </div> </div> </div> <div class="br"> <ul id="notes-list" class="list-unstyled mb-0 block-list w-100 empty-placeholder" data-limit="" data-count="0" data-num-displayed="" data-per-page="20"></ul> <div id="note-list-end"></div> </div> </div> <div class="col order-1 resp-container resp-sm resp-md" id="main-col" data-observe-resizes="true"> <div class="d-flex flex-column"> <div class="row mb-3 d-print-none secondary-menu-row order-2"> <div class="col"> <ul class="nav nav-tabs align-items-center px-4" id="secondary-menu" data-test="secondaryMenu"> <li class="nav-item " data-test="secondaryMenuItem"> <a class="nav-link" href="/company/1836875/NVVE"> <span class="tab-ticker">NVVE</span> Dashboard </a> </li> <li class="nav-item " data-test="secondaryMenuItem"> <a class="nav-link" href="/company/1836875/NVVE/financials"> Financials </a> </li> <li class="nav-item " data-test="secondaryMenuItem"> <a class="nav-link" href="/company/1836875/NVVE/filings"> Filings </a> </li> <li class="nav-item disabled" data-test="secondaryMenuItem"> <div class="nav-link" href="/company/1836875/NVVE/holdings-history"> Holdings </div> </li> <li class="nav-item " data-test="secondaryMenuItem"> <a class="nav-link" href="/transcript/by/companyId/1836875"> Transcripts </a> </li> <li class="nav-item separator"></li> <li class="nav-item " data-test="secondaryMenuItem"> <a class="nav-link" href="/company/1836875/NVVE/etfs"> ETFs </a> </li> <li class="nav-item " data-test="secondaryMenuItem"> <a class="nav-link" href="/company/1836875/NVVE/insider-ownership-history"> Insider </a> </li> <li class="nav-item " data-test="secondaryMenuItem"> <a class="nav-link" href="/company/1836875/NVVE/institutional-ownership-history"> Institutional </a> </li> <li class="nav-item " data-test="secondaryMenuItem"> <a class="nav-link" href="/company/1836875/NVVE/short-interest"> Shorts </a> </li> <li class="nav-item active " data-test="secondaryMenuItem"> <div class="nav-link" href="https://capedge.com/transcript/1836875/2024Q3/NVVE"> 2024 Q3 Transcript </div> </li> </ul> </div> </div> <div class="row align-items-center py-6"> <div class="col"> <h1 class="page-title" data-test="pageTitle"> <span class="company-name"> Nuvve Holding (NVVE) </span> <span class="banner-crumb">12 Nov 24</span><span class="banner-crumb">2024 Q3 Earnings call transcript</span> </h1> <div class="my-1 text-muted-dark"> Company Profile </div> </div> </div> </div> <div class="row" id="main-content-cols"> <div class="col order-1 sticky-scrolly mobile-toggle-only-one d-print-none default-sidebar-column" id="sidebar-col"> <div class="text-center mb-5 mobile-toggle-button-cont"><button type="button" class="btn btn-sm btn-outline-primary ml-auto" data-click-toggle="sidebar-col">< Back</button></div> <div class="transcript-sidebar"> <div class="sidebar-annotations-container"><div class="annotator-editor card" style="display: none;"> <form> <div class="card-header"><div class="card-title not-in-menu"><div class="d-block">Add <span class="annotation-type"></span></div></div></div> <div class="card-body"> <ul class="annotator-listing"><li class="annotator-field form-group"><div class="quote" id="annotator-field-0" placeholder="Quote"></div></li><li class="annotator-field form-group"><textarea rows="3" class="form-control" id="annotator-field-1" placeholder="Comments…"></textarea></li><li class="annotator-field form-group"><label class="custom-switch pl-0"><input type="checkbox" class="custom-switch-input" id="annotator-field-2" placeholder="Visible to public"><span class="custom-switch-indicator"></span><span class="custom-switch-description">Visible to public</span></label></li><li class="annotator-field form-group"><input type="hidden" class="form-control" id="annotator-field-3" placeholder="In Reply To"></li></ul> <div class="annotator-controls d-flex justify-content-between"> <button class="btn btn-primary annotator-save annotator-focus">Save <span class="annotation-type"></span></button> <button class="btn btn-link annotator-cancel">Cancel</button> </div> </div> </form> </div><div class="annotator-viewer card" style="display: none;"> <div class="card-header"> <div class="card-title">Annotations</div> <button type="button" class="btn btn-light ml-auto mobile-toggle-button-cont" id="close-mobile-annotations"><i class="fe fe-x"></i></button> </div> <ul class="card-body annotator-listing"></ul> </div></div> <div class="card"> <div class="card-header"> <div class="card-title">Share this transcript</div> </div> <div class="card-body"> <ul class="social-links list-inline mb-0"> <li class="list-inline-item m-0"> <a href="https://twitter.com/share?url=https%3A%2F%2Fcapedge.com%2Ftranscript%2F1836875%2F2024Q3%2FNVVE" target="_blank" rel="noreferrer noopener" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via Twitter"><i class="fe fe-twitter"></i></a> </li> <li class="list-inline-item m-0"> <a href="https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fcapedge.com%2Ftranscript%2F1836875%2F2024Q3%2FNVVE&title=NVVE%20-%20Earnings%20call%20transcript%20Q3%202024%20%7C%20Nuvve%20Holding%20Corp." target="_blank" rel="noreferrer noopener" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via LinkedIn"><i class="fe fe-linkedin"></i></a> </li> <li class="list-inline-item m-0"> <a href="mailto:?subject=NVVE%20-%20Earnings%20call%20transcript%20Q3%202024%20%7C%20Nuvve%20Holding%20Corp.&body=https%3A%2F%2Fcapedge.com%2Ftranscript%2F1836875%2F2024Q3%2FNVVE" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via Email"><i class="fe fe-mail"></i></a> </li> <li class="list-inline-item m-0"> <a href="#" id="print-button" data-toggle="tooltip" data-placement="top" title="" data-original-title="Print"><i class="fe fe-printer"></i></a> </li> <li class="list-inline-item mr-0"> <a href="#" id="copy-link-button" data-toggle="tooltip" data-placement="top" title="" data-original-title="Copy URL to clipboard"><i class="fe fe-link"></i></a> </li> </ul> </div> </div> <div class="card"> <div class="card-header"> <div class="card-title">Recent NVVE transcripts</div> </div> <ul class="container transcript-sidebar-list list-unstyled"> <li> <a class="row item-row d-block transcript active" href="/transcript/1836875/2024Q3/NVVE"> <div class="d-flex"> <div class="title label-col">Earnings call transcript</div> <div class="filing-type-col"> <div class="filing-period">2024 Q3</div> </div> <div class="date">12 Nov 24</div> </div> </a> </li> <li> <a class="row item-row d-block transcript" href="/transcript/1836875/2024Q2/NVVE"> <div class="d-flex"> <div class="title label-col">Earnings call transcript</div> <div class="filing-type-col"> <div class="filing-period">2024 Q2</div> </div> <div class="date">13 Aug 24</div> </div> </a> </li> <li> <a class="row item-row d-block transcript" href="/transcript/1836875/2024Q1/NVVE"> <div class="d-flex"> <div class="title label-col">Earnings call transcript</div> <div class="filing-type-col"> <div class="filing-period">2024 Q1</div> </div> <div class="date">14 May 24</div> </div> </a> </li> <li> <a class="row item-row d-block transcript" href="/transcript/1836875/2023Q3/NVVE"> <div class="d-flex"> <div class="title label-col">Earnings call transcript</div> <div class="filing-type-col"> <div class="filing-period">2023 Q3</div> </div> <div class="date">9 Nov 23</div> </div> </a> </li> <li> <a class="row item-row d-block transcript" href="/transcript/1836875/2023Q2/NVVE"> <div class="d-flex"> <div class="title label-col">Earnings call transcript</div> <div class="filing-type-col"> <div class="filing-period">2023 Q2</div> </div> <div class="date">10 Aug 23</div> </div> </a> </li> </ul> </div> <div class="card"> <div class="card-header"> <div class="card-title">Associated NVVE filings</div> </div> <ul class="card-body filing-sidebar-list list-unstyled mb-0"> <li class="clearfix "> <a href="/filing/1836875/0001836875-24-000108/10Q-2024Q3" class="text-truncate filing-link"> <span class="filing-date">2024 Q3</span> <span class="text-nowrap filing-type type-10Q type-financial">10-Q</span> <span class="filing-description ">Quarterly report</span> </a> </li> </ul> </div> </div> </div> <div class="col order-2"> <div id="toast-container"></div> <button type="button" class="btn btn-sm btn-outline-primary mb-5 mx-auto d-block mobile-toggle-button-cont" data-click-toggle="sidebar-col"><i class="fe fe-more-vertical"></i> Transcript menu</button> <div class="card transcript"> <div class="card-header"> <div class="card-title">Participants</div> </div> <div class="card-body"> <table class="participant-list"> <tbody><tr class="participant"> <td class="name">Gregory Poilasne</td> <td class="role">executive</td> </tr> <tr class="participant"> <td class="name">David Robson</td> <td class="role">executive</td> </tr> </tbody></table> </div> </div> <div class="card transcript"> <div class="card-header"> <div class="card-title">Call transcript</div> </div> <div class="card-body transcript-container"> <div class="speech"> <div class="participant-name">Operator</div> <div class="content"> <p>Good afternoon, and welcome to the Nuvve Holding Corporation Third Quarter 2024 Earnings Conference Call. Please note, this event is being recorded.</p> <p>On today's call, we have Gregory Poilasne, Chief Executive Officer; and David Robson, Chief Financial Officer of Nuvve. Earlier today, Nuvve issued a press release announcing its third quarter 2024 results.</p> <p>Following prepared remarks, we will open the call up for questions.</p> <p>Before we begin, I would like to remind you that this call may contain forward-looking statements.</p> <p>While these forward-looking statements reflect Nuvve's best current judgment, they are subject to risks and uncertainties that could cause actual results to differ materially from those implied by these forward-looking projections. These risk factors are discussed in Nuvve's filings with the SEC and in the earnings release issued today, which are available on our website. Nuvve undertakes no obligation to revise or update any forward-looking statements to reflect future events or circumstances.</p> <p>With that, I would like to turn the call over to Gregory Poilasne, Chief Executive Officer of Nuvve. Gregory?</p> </div> </div> <div class="speech"> <div class="participant-name">Gregory Poilasne</div> <div class="content"> <p>Thank you, and good afternoon to everyone here today. Welcome to our third quarter 2024 results call.</p> <p>This quarter has been a very active 1 and it may has been very active in many ways, and we are excited to share more details with you today.</p> <p>So this third quarter has remained challenging for Nuvve.</p> <p>We are seeing that the fruit of multiple efforts we have been carrying out during this period is now paying off.</p> <p>We have been able to reduce our expenses with minimal impact to our operational capabilities.</p> <p>We have been increasing our margins while our top line sales are finally picking up, some of it driven by the kickoff of our hub project with the Fresno Economic Opportunity Commission.</p> <p>In the meantime, we have been working with new investors on a convertible loan that we have closed post end of the quarter. Through that period, David and myself have provided a bridge loan to the company showing our engagement and support to Nuvve's business.</p> <p>Sales in our school bus business are finally picking up after an extremely sluggish start of the year, driven by slower-than-expected process from the EPA notifying school districts that are approved for funding. The new progress is based on EPA Round 2 and Round 3 releases. Though we will see some benefits in our Q4 revenue, we also expect revenue will slide into 2025, and we are now working on our EPA Round 4.</p> <p>Q3 also allowed us to finally recognize some revenue from the project with the Fresno EOC commission in the Fresno County. This key project has been for a long time in the making. It does not only bring us some critical cash through a project management fee, it's also securing a straight line revenue for 2025.</p> <p>As a reminder, Nuvve GIVe software platform will be connected to a variety of resources such as solar generation, storage, charging stations, electric vehicle and a microgrid manager, providing the ability to manage and optimize site energy consumption and to aggregate resources across multiple sites to participate into ancillary services and other grid services market. The platform is acting as a true grid monetization platform, allowing [ operators ] to save money, transition to EV fleet faster and optimize capital asset life.</p> <p>Concerning our collaboration with High Power Corporation, we have now signed a contract with our partner, e-Formula and a breaking ground event will most likely happen mid-February after the Chinese New Year.</p> <p>We are in the process of finalizing the date.</p> <p>As a reminder, this project includes a total deployment of 90-plus charging stations and a stationary storage and is using the same technology being deployed in our Fresno EOC project. This Taiwanese project has a 20-year life, and the scaling of the deployment will be adjusted based on local demand.</p> <p>The first phase is targeting a small fleet of eco-to-grid compatible shuttles providing transportation services to employee follow companies in Hsinchu going from the translation to the company buildings. Other projects are summing up on the island of Taiwan, and we hope to share more with you soon.</p> <p>Concerning our joint work with WISE-EV LLC addressing public infrastructure, multiple sites have now signed up with us, and the TEP application have been or in the process of being submitted to NV Energy. In parallel, we are negotiating with different parties to provide debt financing to these SPVs supporting these deployments.</p> <p>As a reminder, these SPVs are allowing us to accelerate Nuvve technology deployment, same 1 for EV drivers by providing attractive energy cost pricing and reliable equipment and bring nondilutive cash to Nuvve in the form of prepaid services.</p> <p>The first [ ETV ] will be funded through debt provided to the SPV for a role project cost of $1.2 million. We believe the SPV structure we have adopted makes our future revenue more forecastable and provides cash upfront. Revenue recognition might be delayed in some cases. But again, this will make our future revenue more forecastable.</p> <p>As a short update on our engagement with Cappello Global working on key strategic investments, we are still making progress, and we hope to share with you some update very soon.</p> <p>Finally, a couple of remarks on the outcome of the election. At this point, I want to emphasize that Nuvve is not just an EV company. The GIVe platform creates a bridge between the needs from the grid and assets such as stationary storage, local energy generation, EV and other significant loads.</p> <p>For the first time since 1990, the load in the United States grid is increasing and energy volatility is getting larger and larger. The GIVe platform capabilities allows us to directly reduce the peaks on the grid and is ideal for grid modernization. Without such a platform, the cost of an [ EV ] will be prohibitive. The need for a platform exists with or without federal EV mandates. Less regulation can offer the opportunity to scale our business faster.</p> <p>And now I will let David take you through the details of our financials. David?</p> </div> </div> <div class="speech"> <div class="participant-name">David Robson</div> <div class="content"> <p>Thanks, Gregory. I will start with a recap of third quarter 2024 results. In the third quarter, we generated total revenues of $1.9 million compared to $2.8 million in the second quarter of 2024 and $2.7 million in the third quarter of 2023. The $1.1 million quarter-over-quarter revenue increase this year was driven by a $0.9 million increase in service revenues and a $0.2 million increase in hardware revenues. $0.6 million of the service revenue earned this quarter relates to our hub project in Fresno, California, which we kicked off earlier this year. When compared to last year, the third quarter decrease in revenue of $0.8 million was impacted by the nonrecurring EV school bus sales sold last year of $0.9 million, offset by higher service revenues.</p> <p>Year-to-date revenues through September 30, 2024, were $3.5 million compared to $6.7 million for the prior year period or a decline of $3.2 million. The $3.2 million decline was impacted by a reduction in charger hardware sales of $2.4 million and the nonrecurring EV bus sales of $0.9 million.</p> <p>This year, we have seen delays in EPA funding awards when compared to last year, which has negatively impacted the pace of hardware sales this year. Despite the reduction in revenues, over last year, we have improved our gross margins. Gross margins for the third quarter 2024 were $1 million compared to $0.3 million for the third quarter last year.</p> <p>Year-to-date gross margin through September 30, 2024, were $1.5 million compared to $0.9 million for the same period last year. The increase in gross margins is primarily due to improved pricing and hardware sales and a higher mix of service revenues compared with last year.</p> <p>As a reminder, margins can be lumpy from quarter to quarter depending on the mix. DC charger gross margins at standard pricing generally range from 15% to 25%, while AC charger gross margins are approximately 50%. But in dollar terms are a small fraction of the revenue of the DC charger. Grid service revenue margins are generally 3%, while software and engineering service margins are as high as 100%.</p> <p>Operating costs, excluding cost of sales were $2.8 million for the third quarter of 2024 compared to $6 million for the second quarter of 2024 and $8.8 million for the third quarter of 2023. The $3.2 million decrease over last quarter was primarily due to lower payroll and consulting expenses.</p> <p>We continue to focus our efforts on improving operating efficiencies, which has resulted in lower overhead costs.</p> <p>Cash operating expenses, excluding cost of sales, stock compensation and depreciation and amortization expense climbed to $2.2 million in the third quarter of 2024 and versus $5.4 million in the second quarter of 2024, and $7.6 million in the third quarter of 2023.</p> <p>Other income was $187,000 in the third quarter of 2024, up from $130,000 in the year ago quarter. The current period benefited from noncash gains from the change in fair value of warrants, offset by interest expense.</p> <p>Net loss attributed to newly common stockholders decreased in the third quarter of 2024 to $1.6 million from a net loss of $8.6 million in the third quarter of 2023. The $6.9 million improvement was a result of higher gross margins of $0.7 million, lower operating expenses of $5.9 million and increased other income of $0.3 million.</p> <p>Now turning to our balance sheet. We had approximately $0.3 million in cash as of September 30, 2024, excluding $0.5 million restricted cash which represents a decrease of $1.1 million from June 30, 2024. The $1.1 million decrease in cash was a result of cash operating losses of $1 million negative working capital of $2.6 million, offset by $2.5 million in cash received from the issuance of short-term promissory notes. Subsequent to the quarter ended September 30, 2024, we received an additional $3.1 million in proceeds from the issuance of convertible notes this October, which will be paid off in monthly payments with interest in either cash or equity beginning in February 2025, and through April 2026.</p> <p>During the quarter, inventories decreased by $0.3 million to $5.7 million at September 30, 2024, as we continue to reduce inventory levels. Accounts payables at the end of the third quarter of 2024 was $2.2 million, an increase of $0.3 million compared to the second quarter of $1.9 million. Accrued expenses at the end of the third quarter of 2024 was $6.3 million, a decrease of $1.7 million compared to the second quarter of $4.9 million. The reduction in accrued expenses was principally due to lower accruals for payroll and consulting expenses.</p> <p>Regarding our joint venture with Stonepeak and Evolve, their conditional capital contribution commitments in our subsidiary, Levo Mobility expired on August 4, 2024, as defined in our LLC agreement, along with the expiration of their capital commitment, during the third quarter, we purchased from Stonepeak and Evolve their interest in Levo Mobility for a nominal amount, which resulted in a reduction in our equity to 0 as well as the cancellation of $5.1 million of liabilities associated with the joint venture, including the derivative liability for the noncontrolling interest and dividend liability due to Stonepeak and Evolve.</p> <p>Now turning to our megawatts under management and estimated future grid service revenues.</p> <p>As a reminder, megawatts under management is a metric we use to quantify the aggregated amount of electrical capacity from the deployment of our V1G and V2G chargers, which are primarily deployed in the electric school bus market in the U.S. and in the light-duty fleet deployments in Europe in addition to stationary batteries. Currently, these chargers and batteries are located throughout the United States, Europe and Japan. Megawatts under management in the third quarter increased 7.7% over the second quarter of 2024 to 29.2 megawatts from 27.1 megawatts, a 37.3% increase compared to the third quarter of 2023.</p> <p>In terms of its composition, 7.1 megawatts were from stationary batteries and 22.1 megawatts were from EV chargers.</p> <p>We continue to expect further growth in our megawatts under management as we go through the remainder of the year and continue to commission our backlog of customer orders we have earned.</p> <p>In addition to new business, we anticipate winning, which we have visibility to in our pipeline for both EV chargers and stationary batteries.</p> <p>Now turning to backlog on September 30, our hardware and service backlog decreased by $0.7 million to $17.5 million from $18.2 million reported at June 30, 2024. Year-to-date, backlog this year has increased by $13.6 million from $3.9 million at December 31, 2023, and which is primarily related to the large hub project in Fresno, California, which was closed during Q1 of this year and revenue has begun to be recognized this quarter.</p> <p>As we look out to the next several quarters, we expect to see more activity on the Fresno Hub opportunity as this project gets that out.</p> <p>We also anticipate improvements in our cash burn, resulting from the benefits of lower operating costs and improved gross margins compared with last year.</p> <p>This concludes my portion of the prepared remarks. Gregory, back to you to conclude.</p> </div> </div> <div class="speech"> <div class="participant-name">Gregory Poilasne</div> <div class="content"> <p>Thank you, David. Though this third quarter 2024 has remained challenging, we see it as a turning point.</p> <p>We have finally been able to close on some of our big projects, not only securing short-term cash, but also certifying our 2025 revenue.</p> <p>We have been managing our cash tightly, personally supporting the company we acquired. We still see the expansion of our reach within segments where we can bring significant value and where government support is essential diversifying our source of revenue and bringing more quarter-to-quarter stability. These are also deployments where we feel like we have better control on the timing. Mandates for renewable generation, storage and in some cases, EV deployments are being implemented in many places in the U.S. and in Europe. With such mandates, we see Nuvve GIVe platform as a key grid monetization tool.</p> <p>Finally, we want to share the progress we have made in our strategic path very soon with you. Thank you very much.</p> </div> </div> <div class="speech"> <div class="participant-name">Operator</div> <div class="content"> <p>[Operator Instructions] I'm seeing no questions. This concludes our question-and-answer session. I would like to turn the conference back over to Gregory Poilasne for any closing remarks.</p> </div> </div> <div class="speech"> <div class="participant-name">Gregory Poilasne</div> <div class="content"> <p>Thank you for listening to us today, and we are looking to be able to share with you more with you soon. Thank you.</p> </div> </div> <div class="speech"> <div class="participant-name">Operator</div> <div class="content"> <p>The conference has now concluded. Thank you for attending today's presentation.</p> <p>You may now disconnect.</p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <footer class="footer"> <div class="container"> <div class="row py-5"> <div class="col-12 col-lg-auto"> <a href="https://finsight.com" target="_blank" rel="noopener" class="no-icon mb-5 mb-lg-0"> <img src="/img/finsight.svg" alt="Finsight"> </a> </div> <div class="col-12 col-lg-auto ml-lg-auto"> <div class="row"> <div class="col"> <div class="link-title">Resources</div> <ul class="list-unstyled"> <li><a href="https://help.capedge.com/" target="_blank">Knowledgebase</a></li> <li> <form action="/user/logout" method="post"> <button type="submit" class="btn btn-link">Logout</button> </form> </li> </ul> </div> <div class="col"> <div class="link-title">Company</div> <ul class="list-unstyled"> <li><a href="https://finsight.com/about" target="_blank" rel="noopener">About</a></li> <li><a href="https://finsight.com/contact-us" target="_blank" rel="noopener">Contact</a></li> <li><a href="https://finsight.com/our-solutions" target="_blank" rel="noopener">Solutions</a></li> </ul> </div> <div class="col"> <div class="link-title">Products</div> <ul class="list-unstyled"> <li><a href="https://dealroadshow.finsight.com/" target="_blank" rel="noopener">Deal Roadshow</a></li> <li><a href="https://dealvdr.com/" target="_blank" rel="noopener">DealVDR</a></li> <li><a href="https://evercall.co/" target="_blank" rel="noopener">Evercall</a></li> <li><a href="https://finsight.com/" target="_blank" rel="noopener">Finsight.com</a></li> </ul> </div> <div class="col"> <div class="link-title">CapEdge</div> <ul class="list-unstyled"> <li><a href="/earnings-calendar">Earnings Calendar</a></li> <li><a href="/transcript/by/companyId/all">Earnings Transcripts</a></li> <li><a href="/search?q=">EDGAR Filing Screener</a></li> <li><a href="/ipo-calendar">IPO Calendar</a></li> </ul> </div> </div> </div> </div> </div> <div class="footer-bottom"> <div class="container"> <div class="row align-items-center"> <div class="col-12 col-lg-auto"> <ul class="list-inline mb-0"> <li class="list-inline-item"><a href="https://finsight.com/compliance" target="_blank" rel="noopener">Compliance</a></li> <li class="list-inline-item"><a href="https://finsight.com/privacy-policy" target="_blank" rel="noopener">Privacy</a></li> <li class="list-inline-item"><a href="https://finsight.com/security-policy" target="_blank" rel="noopener">Security</a></li> <li class="list-inline-item"><a href="https://finsight.com/terms-of-use" target="_blank" rel="noopener">Terms</a></li> </ul> </div> <div class="col footer-icons text-lg-right"> <a href="https://angel.co/company/finsight-group" target="_blank" rel="noopener" class="no-icon"> <img src="/img/angel.svg" alt="AngelList"> </a> <a href="https://www.linkedin.com/company/finsight/" target="_blank" rel="noopener" class="no-icon"> <img src="/img/linkedin.svg" alt="LinkedIn"> </a> </div> </div> </div> </div> </footer> </div> <div class="cookiesBanner_container cookiesBanner_container__visible"> <i class="cookiesBanner_close"> <svg width="16" height="16" viewBox="0 0 16 16" xmlns="http://www.w3.org/2000/svg"> <path d="M8.58719 7.3231C8.93627 7.67218 8.93627 8.23816 8.58719 8.58724C8.2381 8.93633 7.67213 8.93633 7.32304 8.58724L0.261813 1.52597C-0.0872709 1.17689 -0.0872709 0.61091 0.261813 0.261825C0.610896 -0.0872605 1.17687 -0.0872605 1.52596 0.261825L8.58719 7.3231Z"></path><path d="M1.52595 15.7382C1.17687 16.0873 0.610892 16.0873 0.261808 15.7382C-0.087275 15.3891 -0.0872754 14.8231 0.261808 14.474L7.32304 7.41277C7.67212 7.06368 8.2381 7.06368 8.58718 7.41276C8.93626 7.76185 8.93626 8.32783 8.58718 8.67691L1.52595 15.7382Z"></path><path d="M7.4128 8.6769C7.06372 8.32782 7.06372 7.76184 7.4128 7.41275C7.76189 7.06367 8.32786 7.06367 8.67695 7.41275L15.7382 14.474C16.0873 14.8231 16.0873 15.3891 15.7382 15.7382C15.3891 16.0873 14.8231 16.0873 14.474 15.7382L7.4128 8.6769Z"></path><path d="M14.474 0.261814C14.8231 -0.0872713 15.3891 -0.0872713 15.7382 0.261814C16.0873 0.610899 16.0873 1.17688 15.7382 1.52596L8.67695 8.58723C8.32787 8.93632 7.76189 8.93632 7.41281 8.58723C7.06373 8.23815 7.06373 7.67217 7.41281 7.32309L14.474 0.261814Z"></path> </svg> </i> <div class="cookiesBanner_content"> <p class="cookiesBanner_text"> We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our <a class="cookiesBanner_cookiesBannerLink__dvqOM" href="https://finsight.com/privacy-policy#cookiesPolicy" target="_blank">Cookie Policy</a> for more information. </p> <button type="button" class="cookiesBanner_btn btn btn-primary">I Agree</button> </div> </div> <div class="modal fade" id="modalAddFavourite" tabindex="-1" role="dialog" aria-hidden="true"> <div class="modal-dialog" role="document"> <div class="modal-content"> <div class="modal-header"> <h3 class="modal-title">Add favorites</h3> <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button> </div> <div class="modal-body"> <ul class="nav nav-tabs" id="faveTabs" role="tablist"> <li class="nav-item"> <a class="nav-link active" id="manual-tab" data-toggle="tab" href="#manual" role="tab" aria-controls="manual" aria-selected="true">Choose</a> </li> <li class="nav-item"> <a class="nav-link" id="upload-tab" data-toggle="tab" href="#upload" role="tab" aria-controls="upload" aria-selected="false">Upload list</a> </li> </ul> <div class="tab-content mt-3 pt-2" id="faveTabContent"> <div class="tab-pane fade show active" id="manual" role="tabpanel" aria-labelledby="manual-tab"> <form method="post" action="/user/batch-fave" spellcheck="false" autocomplete="off" id="batch-favorite-form"> <input type="hidden" name="referrer" value=""> <p>Type tickers, company names, or new folder names to organize your favorites.</p> <div class="tokenInput tokeninput-container fake-input fake-input-lg"> <input type="text" placeholder="Ticker, company name, or new folder name…" name="favourites" autocomplete="off" autocorrect="off" autocapitalize="off" autofocus="on" size="42"> <script class="tokeninput-data" type="application/json"> { "resultDataProp":"companies", "resultTextProp":"name", "resultValueProp":"companyId", "url":"/search/company?needsXbrl=false&active=true&num=5&allowMultiple=true&q=$query", "values":[], "type":"lookup", "completionGroups" : { "companies" : { "heading" : "Companies", "newOption" : false, "singular" : "company" }, "folders" : { "heading" : "Folder", "newOption" : true, "singular" : "folder" } } } </script> </div> <div class="d-flex mt-6 justify-content-between"> <button type="submit" class="btn btn-primary">Add favorites</button> <button type="button" class="btn btn-link d-none d-md-inline-block" data-dismiss="modal">Cancel</button> </div> </form> </div> <div class="tab-pane fade" id="upload" role="tabpanel" aria-labelledby="upload-tab"> <div id="fave-upload-container"> <form method="post" action="/user/add-from-favorite-file"> <div class="not-uploaded"> <p> Upload a CSV, TSV or Excel file of favorites to add (max 5 MB). We'll try to detect columns of tickers, company names, CIKs or CUSIPs. It doesn't matter if the file has a header row or not, what order the columns are in, or if you include additional columns that are exported from another system. </p> <p> If you want to organize your favorites into folders, then include a header row, with a column named <strong>Folder</strong> to specify a folder for each favorite, e.g. (in this example, the name column is optional): </p><pre> Name,Ticker,Folder Apple Inc,AAPL,Watchlist Tesla Inc,TSLA,Watchlist Microsoft Inc,MSFT,Portfolio</pre> <p></p> <p> If you want to upload a list of favorite searches, then include a header row, with a <strong>Name</strong> column for the search terms, and a <strong>Type</strong> column with the value <em>search</em>, along with an optional <strong>Folder</strong> column e.g. </p><pre> Type,Folder,Name search,Future Tech,bitcoin OR cryptocurrency search,Future Tech,S-1 drones search,Green Energy,TSLA "renewable energy"</pre> <p></p> </div> <div class="uploaded-only"> <table id="matched-upload-table" class="table table-sm"> <thead> <tr> <th></th> <th colspan="2" class="uploaded-count">Uploaded</th> <th colspan="2" class="matched-count">Matched</th> <th class="folder-only">Folder</th> </tr> </thead> <tbody></tbody> </table> <input type="hidden" name="uploadData" id="upload-data" value=""> <div class="mt-5 p-3 bg-blue-lightest"> <h6>Important:</h6> <div class="form-check"> <input class="form-check-input" type="radio" name="actionExisting" id="actionExistingAdd" value="add" checked=""> <label class="form-check-label" for="actionExistingAdd">Add to existing favorites</label> </div> <div class="form-check"> <input class="form-check-input" type="radio" name="actionExisting" id="actionExistingReplace" value="replace"> <label class="form-check-label" for="actionExistingReplace">Remove existing favorites that are not in this list</label> </div> </div> </div> <div class="d-flex mt-6 justify-content-between"> <label class="btn btn-primary not-uploaded" for="upload-faves" id="upload-fave-button"> Upload favorites list… <input type="file" id="upload-faves" class="d-none" name="files"> </label> <button type="submit" class="btn btn-primary uploaded-only">Add selected favorites</button> <button type="button" class="btn btn-link d-none d-md-inline-block" data-dismiss="modal">Cancel</button> </div> </form> </div> </div> </div> </div> </div> </div> </div> <div class="modal fade" id="modalRenameFolder" tabindex="-1" role="dialog" aria-hidden="true"> <div class="modal-dialog" role="document"> <div class="modal-content"> <div class="modal-header"> <h3 class="modal-title">Rename folder</h3> <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button> </div> <form method="post" action="/user/rename-fave" spellcheck="false" autocomplete="off"> <div class="modal-body"> <input type="text" class="form-control" placeholder="Type new folder name…" name="documentSpecifier" autocomplete="off" autocorrect="off" autocapitalize="off" autofocus="on" pattern="[^<>]+"> <input type="hidden" name="documentId" value=""> </div> <div class="modal-footer"> <button type="button" class="btn btn-link" data-dismiss="modal">Cancel</button> <button type="submit" class="btn btn-primary">Rename</button> </div> </form> </div> </div> </div> <div class="modal fade" id="modalAlertSettings" tabindex="-1" role="dialog" aria-hidden="true"> <div class="modal-dialog" role="document"> <div class="modal-content"> <div class="modal-header"> <h3 class="modal-title">Alert feed settings</h3> <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button> </div> <form method="post" action="/user/settings" autocomplete="off" id="alert-settings-form" class="no-reset-on-close"> <div class="modal-body"> <p>Choose the information that appears in your CapEdge alert feed. You'll see alerts for information that matches your favorite companies.</p> <div class="custom-controls-stacked mt-3"> <div class="form-group"> <label class="custom-switch pl-0"> <input type="checkbox" name="settings[alertTypes][]" value="ldb" class="custom-switch-input" checked="checked"> <span class="custom-switch-indicator"></span> <span class="custom-switch-description">Filings</span> </label> <div class="pl-7 text-muted">New filings from SEC.</div> </div> <div class="form-group"> <label class="custom-switch pl-0"> <input type="checkbox" name="settings[alertTypes][]" value="news" class="custom-switch-input" checked="checked"> <span class="custom-switch-indicator"></span> <span class="custom-switch-description">News</span> </label> <div class="pl-7 text-muted">Full news stories, breaking headlines, and press releases.</div> </div> <div class="form-group"> <label class="custom-switch pl-0"> <input type="checkbox" name="settings[alertTypes][]" value="social" class="custom-switch-input" checked="checked"> <span class="custom-switch-indicator"></span> <span class="custom-switch-description">Social</span> </label> <div class="pl-7 text-muted">Message threads from Reddit.</div> </div> <div class="form-group"> <label class="custom-switch pl-0"> <input type="checkbox" name="settings[alertTypes][]" value="user" class="custom-switch-input" checked="checked"> <span class="custom-switch-indicator"></span> <span class="custom-switch-description">Community content</span> </label> <div class="pl-7 text-muted">New community notes and annotations.</div> </div> </div> </div> <div class="modal-footer"> <button type="button" class="btn btn-link" data-dismiss="modal">Cancel</button> <button type="submit" class="btn btn-primary">Update alerts feed settings</button> </div> </form> </div> </div> </div> <div class="modal fade" id="modalSendToNote" tabindex="-1" role="dialog" aria-hidden="true"> <div class="modal-dialog" role="document"> <div class="modal-content"> <div class="modal-header"> <h3 class="modal-title">Add to note</h3> <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button> </div> <form method="post" action="#" class="no-disable" spellcheck="false" autocomplete="off"> <div class="modal-body"> <p>The following content will be added to your chosen note:</p> <div id="fragment-preview" class="my-3 text-muted"></div> <p>Search or choose a recent note below:</p> <div class="tokenInput tokeninput-container fake-input fake-input-lg"> <input type="text" placeholder="Search your note titles…" name="noteSearch" autocomplete="off" autocorrect="off" autocapitalize="off" tabindex="1" autofocus="on" size="25"> <script class="tokeninput-data" type="application/json"> { "resultDataProp":"results", "resultTextProp":"title", "resultValueProp":"id", "url":"/note/notesearch?limit=3&query=$query", "type":"lookup", "completionGroups" : { "bestmatch" : { "heading" : "Best Match" }, "notes" : { "heading" : "Notes", "newOption" : true, "singular" : "note" } } } </script> </div> <div id="send-recent-list"></div> </div> <div class="modal-footer"> <button type="button" class="btn btn-link" data-dismiss="modal" tabindex="2">Cancel</button> </div> </form> </div> </div> </div> <div class="dropdown-menu dropdown-menu-sm" id="user-feed-context-menu"> <a class="dropdown-item context-open" href="#">Open</a> <a class="dropdown-item context-open" href="#" target="_blank">Open in new tab</a> <div class="dropdown-divider"></div> <a class="dropdown-item context-delete" href="#">Delete</a> </div> <div style="display:none" id="google-id" data-id="G-REPSH58KSM,UA-113590965-4"></div> <div style="display:none" id="google-tag-id" data-id="GTM-5KBPWNG"></div> <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-5KBPWNG" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript> <script src="https://www.google.com/recaptcha/api.js" async="" defer=""></script> <script type="application/json" id="user-data">{"id":"665437da02f04742ce51dd52","loggedIn":true,"settings":{"emailNewFilings":false,"emailSearches":true,"emailCommunityContent":true,"emailProductUpdates":true,"enableAnnotations":true,"enableReadCheckbox":false,"subscribedEmailFilingGroups":["financial","news","registration","proxy","other","ownership"],"subscribedEmailFilingTypes":[],"subscribedCommunityNotifications":["repliesToMine","newOnAnnotated"],"periodicEmailSchedule":"never","stockChartComparison":true,"stockChartPeriod":"1m","toggleFavouritescol":false,"toggleNotescol":true,"toggleAlertscol":true,"collapsedFolders":[],"collapsedCards":[],"annotationsPublic":false,"disableEmailNotes":false,"hideNextSteps":false,"alertTypes":["ldb","news","social","user"],"emailSearchesSchedule":"realtime","folderSettings":[]},"plan":"free"}</script> <script type="application/json" id="init-data">{"annotationDocumentRoot":".transcript-container","annotationDocumentType":"transcript","annotationDocumentId":"NVVE_3408182","annotationCompanyId":1836875}</script> <script src="/js/dist/initial.js?v=20241113T075656"></script> <script src="/js/dist/build.js?v=20241113T075656" defer=""></script> <script src="/js/dist/annotator.js?v=20241113T075656" defer=""></script> <script async="" src="/js/dist/annotator-frame.js"></script><div class="annotator-adder" style="display: none;"><button type="button" class="sendTo">Add to note</button><button type="button" class="create">Annotate</button></div></body></html>