Nuvve Holding Corp. (NASDAQ:NVVE) shares plunged in after-hours trading Wednesday as investors assessed the company’s latest quarterly report, which highlighted ongoing liquidity challenges despite revenue growth.

Nuvve closed Wednesday’s regular session up 36.46% at $21.56. In after-hours trading, the stock fell 35.11% to $13.99.

Nuvve develops vehicle-to-grid (V2G) technology that enables electric vehicles to store and discharge electricity back to the power grid.

Cash Position Declines Despite Higher Revenue

In its latest quarterly report, Nuvve said it held approximately $1.7 million in cash as of March 31, down from about $5.5 million at the end of 2025. The company also used approximately $6 million in cash from operating activities during the quarter.

Management said it expects continued operating losses and negative cash flows and concluded there is substantial doubt about the company’s ability to continue as a going concern without raising additional capital.

The company reported first-quarter revenue of $1.39 million, up from $934,000 a year earlier, but still posted an operating loss of $5.84 million.

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Trading Metrics

Nuvve has a market capitalization of approximately $11.3 million, with a 52-week high of $702.72 and a 52-week low of $3.79.

Over the past 12 months, NVVE shares have declined 96.62%.

Benzinga Edge Stock Rankings show NVVE has a positive price trend over the short and medium term, while the long-term trend remains negative.

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