Nuvve Holding Corp. (NASDAQ:NVVE) Q3 2024 Earnings Call November 12, 2024 5:00 PM ET

Company Participants

Gregory Poilasne - Chief Executive Officer
David Robson - Chief Financial Officer

Operator

Good afternoon and welcome to the Nuvve Holding Corporation Third Quarter 2024 Earnings Conference Call. Please note this event is being recorded. 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. Following prepared remarks, we will open the call up for questions.

Before we begin, I would like to remind you that this call may contain forward-looking statements. 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.

With that, I would like to turn the call over to Gregory Poilasne, Chief Executive Officer of Nuvve. Gregory?

Gregory Poilasne

Thank you and good afternoon to everyone here today. Welcome to our third quarter 2024 results call. This quarter has been a very active one and has been very active in many ways and we are excited to share more details with you today.

So this third quarter has remained challenging for Nuvve. We are seeing that the fruit of multiple efforts we have been carrying out during this period is now paying off. We have been able to reduce our expenses with minimum impact to our operational capabilities. 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. 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 into this business.

Sales in our school bus business are finally picking up after an extremely sluggish start of the year, driven by a 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.