ADN - Advent Technologies slumps 7% despite Q4 revenue up 714% Y/Y

Advent Technologies (ADN -6.9%) Q4 revenue was up 714% versus prior year to $2.9M. Revenue surged on increased customer demand for fuel cell components, and, fuel cell systems from UltraCell, SerEnergy, SerEnergy Philippines and fischer eco solutions. Operating expenses of $16.3M, a year-over-year increase of $14.4M. Net loss per share was $(0.18) Cash reserves of $79.8M as of December 31, 2021. “This solid revenue growth versus the prior year authenticates our business model, while the consolidation of the operations of UltraCell, SerEnergy, SerEnergy Philippines and fischer eco solutions has accelerated our growth and focus across the value chain from fuel cell components to fuel cell systems,” said Dr. Vasilis Gregoriou, Chairman and CEO. Previously (March 28): Advent Technologies Holdings GAAP EPS of -$0.18, revenue of $2.9M

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Advent Technologies slumps 7% despite Q4 revenue up 714% Y/Y