Business Description
ADS-TEC Energy PLC is a B2B technology company that develops and manufactures battery-buffered energy storage and ultra-fast charging systems. Headquartered in Germany, the company specializes in decentralized energy platforms that enable high-power electric vehicle (EV) charging on power-limited grids. Its core products include the ChargeBox and ChargePost systems, which serve commercial, industrial, and utility customers across Europe and North America.
Financial Statements
In thousands, USD
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Total Revenues | 31,559 | 110,013 | 107,384 | 26,430 |
| Cost of Sales | 47,842 | 90,585 | 110,270 | 30,904 |
| Gross Profit | (16,283) | 19,427 | (2,886) | (4,474) |
| Selling, General & Administrative Expenses | 32,797 | 31,588 | 27,823 | 31,319 |
| Research & Development Expenses | 8,488 | 8,971 | 2,832 | 1,701 |
| Other Operating Expenses | (875) | (12,523) | 10,984 | (1,071) |
| Operating Profit | (56,694) | (8,609) | (44,525) | (36,423) |
| Interest and Investment Income | 60,788 | 24 | 190 | 20,515 |
| Interest Expense | (59,542) | (88,883) | (13,887) | (427) |
| Total Non-Operating Income | 1,246 | (88,859) | (13,697) | 20,088 |
| Income Before Provision for Income Taxes | (55,447) | (97,467) | (58,221) | (16,335) |
| Provision for Income Taxes | (257) | 491 | (3,141) | 2,572 |
| Consolidated Net Income | (55,190) | (97,958) | (55,081) | (18,906) |
| Net Income Attributable to Common Shareholders | (55,190) | (97,958) | (55,081) | (18,906) |
| Basic EPS | -0.98 | -1.91 | -1.13 | -0.39 |
| Diluted EPS | -0.98 | -1.91 | -1.13 | -0.39 |
| Basic Weighted Average Shares Outstanding | 56,394 | 51,224 | 48,919 | 48,809 |
| Diluted Weighted Average Shares Outstanding | 61,558 | 57,724 | 49,208 | 49,005 |
| Shares Outstanding | 60,436 | 52,363 | 50,585 | 48,877 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 6,987 | 22,858 | 29,162 | 34,441 |
| Total Cash and Cash Equivalents | 6,987 | 22,858 | 29,162 | 34,441 |
| Accounts Receivable | 7,630 | 14,929 | 21,224 | 17,666 |
| Total Trade Receivables | 7,630 | 14,929 | 21,224 | 17,666 |
| Inventories | 51,010 | 63,666 | 39,119 | 53,137 |
| Other Current Assets | 933 | 13,589 | — | 6 |
| Total Current Assets | 66,560 | 115,042 | 89,505 | 105,250 |
| Net Property, Plant & Equipment | 10,595 | 9,468 | 9,677 | 8,755 |
| Net Intangible Assets | 12,910 | 20,529 | 25,041 | 22,059 |
| Long-Term Investments | 144 | 179 | 179 | 3,373 |
| Other Long-Term Assets | 40 | 12 | 106 | 4 |
| Total Assets | 90,249 | 145,230 | 124,508 | 139,442 |
| Accounts Payable | 20,652 | 34,963 | 22,020 | 15,702 |
| Accrued Expenses | 3,075 | 5,586 | 16,212 | 2,056 |
| Current Portion of Long-Term Debt | 5,010 | 13,333 | 13,908 | — |
| Current Portion of Leases | 1,322 | 1,144 | 853 | 842 |
| Unearned Revenue | 11,955 | 6,809 | 7,454 | 23,583 |
| Other Current Liabilities | 43,625 | 13 | — | 189 |
| Total Current Liabilities | 85,638 | 61,847 | 60,447 | 42,373 |
| Leases | 1,866 | 2,336 | 2,580 | 2,635 |
| Other Long-Term Liabilities | 13,567 | 123,857 | 27,562 | 13,687 |
| Total Long-Term Liabilities | 15,432 | 126,192 | 30,142 | 16,322 |
| Total Liabilities | 101,071 | 188,039 | 90,589 | 58,695 |
| Common Stock | 5 | 5 | 4 | 4 |
| Additional Paid-in Capital | 332,907 | 245,298 | 225,007 | 216,815 |
| Accumulated Other Comprehensive Income | 613 | 1,044 | 106 | 45 |
| Retained Earnings | (344,347) | (289,156) | (191,198) | (136,117) |
| Total Common Shareholders' Equity | (10,822) | (42,809) | 33,919 | 80,747 |
| Total Shareholders' Equity | (10,822) | (42,809) | 33,919 | 80,747 |
| Total Liabilities and Shareholders' Equity | 90,249 | 145,230 | 124,508 | 139,442 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Income | (55,190) | (97,958) | (55,081) | (18,906) |
| Depreciation & Amortization | 10,588 | 6,699 | 4,850 | 4,336 |
| Share-Based Compensation Expense | 2,655 | 3,866 | 1,451 | 2,767 |
| Other Adjustments | (1,023) | 89,067 | 10,715 | (17,299) |
| Changes in Trade Receivables | 7,544 | 7,052 | (1,616) | (6,716) |
| Changes in Inventories | 11,819 | (24,359) | 13,475 | (40,195) |
| Changes in Accounts Payable | (14,367) | 12,929 | 6,117 | 3,689 |
| Changes in Accrued Expenses | (3,602) | (13,179) | 12,620 | (2,766) |
| Changes in Income Taxes Payable | (15) | (3) | (203) | — |
| Changes in Unearned Revenue | 4,906 | (462) | (16,185) | 17,387 |
| Changes in Other Operating Activities | (301) | 61 | 3,196 | 95 |
| Cash from Operating Activities | (36,985) | (16,285) | (20,659) | (57,805) |
| Capital Expenditure | (2,883) | (958) | (2,297) | (3,484) |
| Proceeds from Sale of Property, Plant & Equipment | 20 | 107 | — | — |
| Purchases of Intangible Assets | (399) | (445) | (7,623) | (7,586) |
| Cash from Investing Activities | (3,262) | (1,296) | (9,920) | (10,874) |
| Issuance of Long-Term Debt | 44,431 | 13,966 | 12,033 | — |
| Repayments of Long-Term Debt | (44,479) | (12,221) | (1,615) | (8,228) |
| Net Issuance / (Repayments) of Long-Term Debt | (48) | 1,745 | 10,418 | (8,228) |
| Issuance of Common Shares | 661 | 776 | 6,741 | — |
| Net Issuance / (Repurchases) of Common Shares | 661 | 776 | 6,741 | — |
| Other Financing Activities | 23,433 | 8,077 | 8,333 | (427) |
| Cash from Financing Activities | 24,046 | 10,598 | 25,492 | (8,655) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 331 | 680 | (192) | 9,962 |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | (16,201) | (6,984) | (5,087) | (77,334) |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $766M |
| P/E | -11.03x |
| P/S | 20.70x |
| EV/EBITDA | -14.19x |
| Return on Equity | 205.8% |
| Return on Invested Capital | -107.5% |
| Current Ratio | 0.78x |
| Free Cash Flow Margin | -126.3% |
Margins
Gross margin
-51.6%
Operating margin
-179.6%
Net margin
-174.9%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q4 2025 | $8M | -44.9% | -157.4% | $-13M |
| Q3 2025 | $8M | -44.9% | -157.4% | $-13M |
| Q2 2025 | $7M | -81.6% | -205.4% | $-15M |
| Q1 2025 | $7M | -81.6% | -205.4% | $-15M |
| Q4 2024 | $15M | — | -11.9% | $-2M |
| Q3 2024 | $15M | — | -11.9% | $-2M |
| Q2 2024 | $40M | — | -6.3% | $-2M |
| Q1 2024 | $40M | — | -6.3% | $-2M |
More on ADS-TEC Energy PLC
Figures compiled from public company filings.
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