Eco Wave Power Global AB (publ)

For Q1 2026, Eco Wave Power reported operating expenses of approximately USD 682,000, down 11% from Q1 2025. R&D was approximately USD 140,000 versus USD 181,000 a year ago; sales and marketing were approximately USD 71,000 versus USD 77,000; and G&A was approximately USD 499,000 versus USD 539,000. Operating loss improved to approximately USD 682,000 from USD 765,000 in the prior-year period, while other income was approximately USD 52,000 versus USD 54,000. Net loss was approximately USD 695,000 compared with approximately USD 505,000 last year, mainly due to foreign exchange fluctuation. As of March 31, 2026, total liquidity was approximately $5.3 million. No formal next-quarter or full-year financial guidance was provided on the call; management instead emphasized continued project execution, disciplined financial management, strategic partnerships, and progress on existing pilots and concessions.

Inna Braverman framed the quarter around two priorities: advancing live projects and positioning Eco Wave Power within the emerging AI-energy infrastructure opportunity. She said the company’s coastal, infrastructure-integrated model can be deployed in commercially relevant time frames, contrasting that with technologies she said may take years or decades. Her tone was confident and opportunistic, especially around the company’s visibility from NVIDIA GTC and the idea that AI-driven power demand could create near-term demand for wave energy.

Aharon Yehuda emphasized disciplined cost management and reported that operating expenses fell to approximately USD 682,000, with R&D down to about USD 140,000, sales and marketing to about USD 71,000, and G&A to about USD 499,000. He said operating loss improved to approximately USD 682,000 from USD 765,000 year over year, while net loss rose to approximately USD 695,000 because of foreign exchange effects, including appreciation in the Swedish krona and Israeli shekel against the U.S. dollar. He also highlighted approximately $5.3 million in total liquidity at March 31, 2026 and said the company remains focused on disciplined capital allocation, project execution and business development.

There was no analyst Q&A in the transcript, so no questions or pushback were raised live. The main management-led discussion centered on project timing, including the expectation to receive a formal site assessment order from BPCL in Q3 and plans to discuss larger-scale implementation at the Port of Los Angeles after submitting the final report. Management also addressed the strategic question of whether wave energy can serve AI infrastructure, arguing it can be deployed near demand centers faster than many alternative power concepts.