Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
ADNH · OTC · United States · Miscellaneous Electrical Machinery, Equipment & Supplies
In shortADVENT TECHNOLOGIES HOLDINGS, INC. is loss-making.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -560.7% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -1251.3% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | – | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.09× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -127.18 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 42.7% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 1 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 4 | 58/100 |
| Revenue growth volatility | 352.2% | 0/100 |
| Operating margin volatility | 1213.9% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -22.6% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2024 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
1 older year available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|
| Revenue | 0.9 | 7.1 | 7.8 | 1.5 | 3.3 |
| Cost of revenue | 0.5 | 5.4 | 8.6 | 7 | 1.5 |
| Gross profit | 0.4 | 1.7 | (0.7) | (5.4) | 1.8 |
| Research & development | 0.1 | 3.5 | 9.8 | 7.6 | 3.2 |
| Selling, general & admin | 3.5 | 42 | 36 | 29 | 14 |
| Operating income | (3.1) | (44) | (85) | (51) | (18) |
| Pre-tax income | (3.1) | (21) | (76) | (51) | (30) |
| Income tax | 0 | (0.9) | (2) | (0.1) | (0.1) |
| Net income | (3.1) | (21) | (74) | (71) | (41) |
| Diluted EPS | −$0.15 | −$0.45 | −$43.28 | −$37.24 | −$15.65 |
| Diluted shares (millions) | 21 | 46 | 1.7 | 1.9 | 2.6 |
1 older year available with the 10-year history. Essential plan, from €8.25/month →
−127.18 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Sep 30, 2025 · Data updated Nov 17, 2025