Monitor Nasdaq compliance decision expected in H2 2026; stock likely to remain volatile. The revenue growth trajectory is strong but cash burn and customer concentration are key risks. Watch for further dilution via ATM or new offerings to fund operations.
Price Chart
Executive Summary
Turbo Energy's FY2025 20-F shows revenue more than doubled to €19.99M (approx. $23.46M) driven by a 646% surge in SUNBOX Industry sales, while net loss narrowed 65% to €1.16M. However, cash burned to €493K, working capital turned negative, and Nasdaq non-compliance (minimum equity) persists after January 2026 notice. Subsequent $5M equity raises provide near-term liquidity but dilute shareholders.
Key Facts
- Revenue grew 107% YoY to €19,986,500 (approx. $23,456,157) in FY2025, driven by SUNBOX Industry sales which increased 646% to €11.9M.
- Net loss improved 65% to €1,156,309 (approx. $1,357,044) from €3,337,000 in FY2024.
- Cash and cash equivalents fell 79% to €493,129 from €2,384,625; working capital turned negative at €(910,135).
- One customer accounted for 49% of total FY2025 revenue, up from 12% in FY2024.
- Received Nasdaq deficiency notice on Jan 12, 2026 for stockholders' equity below $2.5M; compliance plan submitted Feb 26, 2026.
- Subsequent to year-end, completed ~$5M in equity raises (RDO + ATM) in March-April 2026 to bolster liquidity.
- Restructured €4.87M in bank loans to long-term financing maturing 2029 in February 2026.
Financial Impact
Revenue doubled to ~$23.5M but cash position weakened; net loss improved; working capital deficit of ~€0.9M.
Risk Factors
- Nasdaq delisting risk if compliance plan not accepted or milestones missed.
- Customer concentration: one customer is 49% of revenue; loss would severely impact revenue.
- Negative working capital and low cash raise going-concern questions despite recent equity raises.
- Continued losses and need for further capital may dilute existing shareholders.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 12 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 20-F Filing (Primary) | 0001213900-26-057672 |
| Document: ea029026401ex11-2.htm | 0001213900-26-057672 |
| Document: ea029026401ex2-1.htm | 0001213900-26-057672 |
| Document: ea029026401ex12-2.htm | 0001213900-26-057672 |
| Document: ea029026401ex12-1.htm | 0001213900-26-057672 |
| Document: ea029026401ex13-2.htm | 0001213900-26-057672 |
| Document: ea029026401ex13-1.htm | 0001213900-26-057672 |
| Document: ea029026401ex15-1.htm | 0001213900-26-057672 |
| Document: ea029026401ex8-1.htm | 0001213900-26-057672 |
| Document: 0001213900-26-057672-index-headers.html | 0001213900-26-057672 |
| Document: 0001213900-26-057672-index.html | 0001213900-26-057672 |
| Document: 0001213900-26-057672.txt | 0001213900-26-057672 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 21d ago | 6-K | $1.08 | awaiting T+20 | — | $0.9150 (−15.28%) |
Oct 6, 2026 21d ago | Press Release | $1.08 | awaiting T+20 | — | $0.9150 (−15.28%) |
Sep 29, 2026 28d ago | 6-K | $1.14 | awaiting T+20 | — | $0.9150 (−19.74%) |
Sep 29, 2026 28d ago | Press Release | $1.14 | awaiting T+20 | — | $0.9150 (−19.74%) |
Jul 2, 2026 16w ago | 6-K | $1.51 $1.49 | ▼ −1.32% | ▼ −0.91% | $0.9150 (−39.40%) |
Jun 5, 2026 20w ago | 6-K | $1.73 $1.48 | ▼ −14.45% | ▼ −16.31% | $0.9150 (−47.11%) |
Jun 3, 2026 20w ago | 6-K | $1.73 $1.51 | ▼ −12.72% | ▼ −11.72% | $0.9150 (−47.11%) |
May 18, 2026 23w ago | 6-K | $1.36 $1.48 | ▲ +8.82% | ▲ +7.24% | $0.9150 (−32.72%) |
May 18, 2026 23w ago | Press Release | $1.36 $1.48 | ▲ +8.82% | ▲ +7.24% | $0.9150 (−32.72%) |
May 15, 2026 23w ago | 20-F | $1.36 $1.48 | ▲ +8.82% | ▲ +7.24% | $0.9150 (−32.72%) |
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