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    WAVE
    Earnings call· Jun 2026(Q2 FY26)

    Eco Wave Power Global AB (publ) Q2 FY26 earnings call WAVE

    Aug 11, 2026 Source

    Executive summary

    Eco Wave Power Global AB (publ) Q2 FY26 — Financial Strength and Project Advancement

    Eco Wave Power strengthened its financial position in Q2 FY26 through reduced operating expenses and a successful capital raise, providing resources to advance its global wave energy project pipeline. The company is actively integrating AI into its technology for efficiency and exploring wave energy's role in meeting the growing electricity demand from data centers, aiming for commercial-scale deployment.

    Highlights

    5

    • Operating expenses decreased by approximately 9% year-over-year to $1.45 million in H1 2026.

    • Net loss decreased by approximately 12% year-over-year to $1.67 million in H1 2026.

    • Cash position increased by approximately 58% compared to March 31, 2026, reaching $8.4 million in total liquidity.

    • Grant funding increased by approximately 56.8% in H1 2026.

    • Jaffa Port project maintained 0 downtime since the beginning of 2025.

    Operational metrics

    17
    Operating expenses
    $1.45 milliondown 9% year-over-year from $1.59 million H1 2025
    H1 2026
    Research and development expenses
    $218,000down 45% year-over-year from $399,000 H1 2025
    H1 2026

    Primarily attributable to lower labor and other R&D costs as well as increased grant funding.

    Sales and marketing expenses
    $134,000up from $123,000 H1 2025
    H1 2026

    Mainly related to payroll rather than investor communication activities.

    General and administrative expenses
    $1.07 millionrelatively stable compared to $1.09 million H1 2025
    H1 2026
    Other income
    $64,000up 3% year-over-year from $62,000 H1 2025
    H1 2026
    Grant funding increase
    56.8%
    H1 2026

    Grants received through programs including the European Green Deal's ILIAD Consortium and Innovate UK.

    Operating loss
    $1.45 millionimproved from $1.59 million H1 2025
    H1 2026
    Net financial loss
    $221,000decreased by 27% year-over-year from $304,000 H1 2025
    H1 2026

    Primarily attributable to foreign exchange fluctuations, including the appreciation of the Swedish krona and the New Israeli Shekel against the U.S. dollar.

    Net loss
    $1.67 milliondecreased by 12% year-over-year from $1.89 million H1 2025
    H1 2026
    Cash position increase
    58%compared with March 31, 2026
    Q2 2026

    Following a $4 million registered direct offering.

    Total liquidity
    $8.4 million
    as of June 30, 2026

    Consisting of cash and cash equivalents and restricted short-term bank deposits.

    Cash and cash equivalents
    $8.15 million
    as of June 30, 2026
    Restricted short-term bank deposits
    $250,000
    as of June 30, 2026
    Registered direct offering value
    $4 million
    June 2026

    Completed with a single institutional investor.

    Warrants issued
    300,000 ADSs
    June 2026

    Issued in connection with the direct offering.

    Israel Blue-Tech energy initiative funding
    ILS 6 million
    future

    Announced by Israel Ministry of Energy & Infrastructure and Israel Innovation Authority, supporting technologies including wave energy.

    Taiwan land lease duration
    5-year
    future

    Secured at Suao Port with an option for extension by partner I-Ke International Ocean Energy.

    Industry KPIs

    4
    MetricValueDetails
    Generation output fleet availability0 downtime
    Data center co location deal structuresdiscussed_not_quantified
    Contracted ppas vs uncontracted capacitygrid-connected
    Uprates development pipeline m a capacitymegawatt-scale installation

    Deals & partnerships

    5
    AltaSea and Shell Marine Renewable EnergyCollaboration for pilot project development

    Developed and completed a pilot project at the Port of Los Angeles, with the final report submitted.

    APDL (Port authority in Portugal)Collaboration for megawatt-scale project

    Advancing discussions and reviewing progress at the Barra do Douro breakwater project site for the first megawatt-scale installation.

    I-Ke International Ocean EnergyPartner for Taiwan project development

    Secured a 5-year land lease at Suao Port and submitted application for transfer of land use rights. Project expected to incorporate locally manufactured Eco Wave Power floaters.

    Bharat Petroleum CorporationCollaboration for site assessment and potential pilot installation

    Collaboration expected to begin with a site assessment study and potentially progress towards a pilot installation at Bharat Petroleum's Mumbai oil terminal.

    NVIDIAAI development and ecosystem support

    Eco Wave Power U.S. joined the NVIDIA Inception program, gaining access to developer tools, technical resources, training, and ecosystem support for AI-driven applications.

    What to watch in Q3 FY26

    4

    Portugal megawatt-scale project progress

    H2 2026
    CurrentReinforcement works underway, discussions with subcontractors advancing.
    TargetSignificant progress on construction, potential for first installation milestones.

    Why it matters

    This is the company's first megawatt-scale project, crucial for commercialization and larger deployments.

    As we look towards the second half of 2026, our priorities remain clear. We intend to continue advancing our first megawatt-scale project in Portugal.

    2 min read6 chapters

    Detailed Narrative

    01

    Financial Performance and Capital Raise

    Eco Wave Power reported a 9% year-over-year decrease in operating expenses to $1.45 million for H1 2026, driven by a 45% reduction in R&D costs. Net loss improved by 12% to $1.67 million. The company successfully completed a $4 million direct offering at $10 per ADS, increasing its cash position by 58% and total liquidity to $8.4 million as of June 30, 2026.

    02

    Israel Project (Jaffa Port)

    The EWP-EDF One project at Jaffa Port continues to operate as Israel's only grid-connected wave energy station, exporting electricity under a PPA. Since early 2025, the station has maintained 0 downtime, providing valuable operational data. The project serves as a platform for advancing AI integration, digital twins, and predictive maintenance.

    03

    US Market Development

    The company completed and submitted the final report for its pilot project at the Port of Los Angeles, demonstrating its technology's advantages for installation on existing man-made coastal infrastructure. The project was referenced in California Senate Bill 605, indicating growing regulatory attention and potential for future commercial deployments in the US.

    04

    Portugal Megawatt-Scale Project

    Reinforcement works are underway at the Barra do Douro breakwater for Eco Wave Power's first megawatt-scale installation. Discussions with Portuguese subcontractors are advancing, and the CEO plans to meet with local stakeholders. This project is crucial for transitioning towards larger commercial deployments internationally.

    05

    Asia Pacific Expansion (Taiwan & India)

    In Taiwan, partner I-Ke International Ocean Energy secured a 5-year land lease at Suao Port, with work permits expected by October 2026. The project plans to use locally manufactured floaters. In India, collaboration with Bharat Petroleum Corporation is advancing with a site assessment study for a potential pilot installation at the Mumbai oil terminal.

    06

    Artificial Intelligence Strategy

    Eco Wave Power's technology was featured twice by NVIDIA's CEO, and the company joined the NVIDIA Inception program. The AI strategy focuses on two areas: improving internal technology (system monitoring, predictive maintenance, performance optimization) and positioning wave energy to meet the rapidly growing electricity demand from AI and data centers, especially in coastal areas.

    AI-generated summary of the company’s earnings call. Not investment advice.