Press release
ADS-TEC Energy (ADSE) reports H1 2023 Results and Financial Update
NÜRTINGEN, Germany--(BUSINESS WIRE)-- ADS-TEC Energy plc (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, today announced
About this update from Ads-tec Energy Plc
[{"type":"text","content":" NÜRTINGEN, Germany--(BUSINESS WIRE)--\nADS-TEC Energy plc (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, today announced unaudited financials for H1 2023 and is pleased to provide you with an operational update on the recent financial performance and key developments for the company.\n\n\nH1 2023 Financial Highlights\n\n\n\nRevenue of €38.3 million, an increase of 400% compared to H1 2022 and 140% compared to full year revenue for 2022\n\n\n\nOperational Expenses of €17.9 million\n\n\n\nEBITDA of €-17.6 million\n\n\n\nAims to be EBITDA positive in Q4’23\n\n\n\nReiterates 2023 guidance of more than €100 million revenue for 2023\n\n\n\nStrong customer growth projection outlook for 2024\n\n\n\nWe are thrilled to report strong performance in the first half of 2023. Our revenues for H1'23 exceeded €38.3 million, representing a growth rate of almost 400% compared to the H1'22 revenues of €9.4 million.\n\n\nWe are delighted to reiterate our revenue guidance for the full year 2023, expecting to surpass €100 million in total revenue for end of 2023. Thomas Speidel, CEO ADS-TEC Energy, said: “This reaffirms our confidence in the strength of our business model, robust customer demand, and the overall market opportunity. We remain committed to driving sustainable growth and long-term shareholder value.”\n\n\nWe are excited about the progress we have made in the first half of 2023 and the opportunities that lie ahead.\n\n\nAbout ADS-TEC Energy\n\n\nADS-TEC Energy plc, a public limited company incorporated in Ireland and publicly listed on NASDAQ (“ADS-TEC Energy”), serves as a holding company for ads-tec Energy GmbH, our operating company incorporated in Germany (“ADSE GM”) and ads-tec Energy Inc., a US subsidiary of ads-tec Energy GmbH (“ADSE US” and together with ADS-TEC Energy and ADSE GM, “ADSE”). Based on more than ten years of experience with lithium-ion technologies, ADS-TEC Energy develops and manufactures battery storage solutions and fast charging systems including their energy management systems. Its battery-based, fast charging technology enables electric vehicles to ultrafast charge even on low powered grids and features a very compact design. It was most recently nominated by the President of the Federal Republic of Germany for the German Future Prize and elevated to the \"Circle of Excell...