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Get filing alertsRed Flags Detected
- Going Concern (new) — Auditors disclosed substantial doubt about ability to continue as a going concern for the first time, signaling acute financial distress.
- Delisting (improved) — Regained Nasdaq compliance in Jan 2026 after Sept 2025 noncompliance notice, but remains under one-year mandatory monitoring with no grace period for future violations.
NVVE posts going-concern warning as losses double to $31.5M, backlog drops 82%
Filed March 31, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 31, 2025 · ~1 min read
Key Changes
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high
Auditors raised substantial doubt about ability to continue as a going concern for the first time; accumulated deficit grew to $196.4M as net loss nearly doubled to $3.2 million in FY2025.
Risk Factors: Going Concern verify on EDGAR → -
high
Backlog collapsed 82% from $18.3M to $3.2M, signaling weak forward pipeline; revenue fell 9% to $4.8M following prior-year 37% decline, marking two-year contraction.
MD&A: Backlog & Revenue verify on EDGAR → -
high
Terminated $15.7M Fresno fleet electrification contract in Feb 2026 after client refused to proceed; company disputes termination terms and is negotiating cost recovery with no assurance on amount.
Legal Proceedings: Fresno verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 21, 2026 · How we verify