Revenue drops as ADS-TEC Energy (NASDAQ: ADSE) posts 2025 loss
Rhea-AI Filing Summary
ADS-TEC Energy released preliminary, unaudited 2025 results, showing a sharp contraction in activity and continued losses. Revenue was EUR 31,559k in 2025, down from EUR 110,013k in 2024, and the company recorded a net loss of EUR 55,190k versus EUR 97,958k a year earlier.
Total assets fell to EUR 90,249k from EUR 145,231k, while equity remained negative at EUR -10,822k, compared with EUR -42,810k in 2024. Operating cash flow was an outflow of EUR 36,934k, and year-end cash and cash equivalents declined to EUR 6,987k from EUR 22,858k, despite substantial financing inflows, including proceeds from borrowings, a convertible loan and warrant exercises.
The company states it is assessing financing options, such as bonds, bilateral loans or other debt facilities, to support its long-term capital structure and future business plans.
Positive
- None.
Negative
- Revenue collapse and weak cash position: 2025 revenue fell to EUR 31,559k from EUR 110,013k, with a net loss of EUR 55,190k and operating cash outflow of EUR 36,934k, leaving year-end cash at only EUR 6,987k and equity still negative at EUR -10,822k.
Insights
Results show collapsing revenue, ongoing losses and reliance on external financing.
ADS-TEC Energy reports 2025 revenue of EUR 31,559k, down from EUR 110,013k, turning a prior-year gross profit into a gross loss. The net loss narrowed to EUR 55,190k, but remains large relative to the company’s scale.
Total assets fell to EUR 90,249k, with equity still negative at EUR -10,822k. Operating cash outflow was EUR 36,934k, while cash ended at EUR 6,987k, down from EUR 22,858k. The cash shortfall was bridged through new borrowings, a EUR 38,156k convertible loan and EUR 26,950k of warrant exercises.
The company notes it is evaluating additional financing options, including bonds and loans, to support its long-term capital structure. Actual outcomes will depend on its ability to access funding and stabilize revenue, as indicated by these preliminary figures for the period ended December 31, 2025.
Key Figures
Key Terms
preliminary and unaudited condensed consolidated financial statements financial
sustainable long-term capital structure financial
Convertible Loan financial
Own & Operate financial
order backlog financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO SECTION 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2026
Commission
file number:
(Translation of registrant’s name into English)
10 Earlsfort Terrace
Dublin 2, D02 T380, Ireland
Telephone: +353 1 920 1000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
EXPLANATORY NOTE TO AMENDMENT
Incorporation by Reference
This 6-K and the accompanying exhibit is hereby incorporated by reference into the Company’s registration statements on Form F-3 (File No. 333-262281, 333-276788, 333-284850) and Form S-8 (File No. 333-263153), including all amendments thereto, filed with the SEC, to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
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On April 13, 2026, ADS-TEC ENERGY PLC (the “Company”) issued a press release announcing its preliminary and unaudited condensed consolidated financial statements for the year ended December 31, 2025, and providing an update on its business and recent developments. A copy of that press release is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K (this “Form 6-K”) and is incorporated herein by reference.
This Form 6-K includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “hope,” “predict,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include the Company’s expectations with respect to future performance and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Press Release, dated April 13, 2026 | |
| 101.INS | Inline XBRL Instance Document | |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. | |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. | |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| Date: April 24, 2026 | ADS-TEC ENERGY PLC | ||
| By: | /s/ Torsten Klee | ||
| Name: | Torsten Klee | ||
| Title: | Chief Financial Officer | ||
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Exhibit 99.1
ADS-TEC Energy reports preliminary and unaudited financial results
NÜRTINGEN, Germany--(BUSINESS WIRE)-- ADS-TEC Energy PLC (NASDAQ: ADSE) (the “Company”), a global leader in battery-based energy storage and fast-charging systems, today announced its preliminary and unaudited condensed consolidated financial statements for the year 2025, covering the period ended December 31, 2025.
Financial Overview
| ● | 2025 was primarily a year of transition and strategic positioning. While reported financial figures were modest, the Company continued to execute in line with its long-term strategy and made meaningful progress toward building a scalable platform with recurring revenues. |
| ● | Our revenue declined from €110 million in 2024 to €31.6 million in 2025, primarily driven by the combined impact of the insolvency of a key customer in the legacy EV-charging hardware business and the ongoing strategic pivot toward new business models that had not yet been translated into revenue. |
| ● | Service revenues increased to €10.3 million in 2025, almost doubling compared to €5.6 million in 2024, reflecting continued expansion of the installed base and demonstrating the growing contribution of recurring revenue streams. |
| ● | Operating result was minus €56.7 million (compared to minus €8.6 million in 2024), reflecting the impact of lower revenues as well as an inventory write-down of €10.2 million, related to valuation adjustments in raw materials and finished goods. This development is consistent with the build-up of inventory in prior periods and the Company’s ongoing efforts to realign production and sales. |
| ● | Following the redemption of its senior secured convertible notes in November 2025 (amounting to $27.9 million), the Company maintained a cash position of €7 million at year-end, providing near-term liquidity to support its ongoing strategic initiatives. |
Business Development
| ● | Overall, 2025 marked a transition in the Company’s business model, with a focus on developing and scaling additional business lines. The Company is repositioning its business from its traditional charging and service activities toward a more diversified model, which continues to include its core charging solutions while expanding into Commercial & Industrial (C&I), Own & Operate (O&O) activities with related revenue streams such as energy management and advertising, and service- and software-related offerings, as well as large scale battery projects. The Company’s strategy includes combining large scale battery projects with full or partial ownership, intelligent operation, and long-term services, supported by investments in scalable platform infrastructure to enable international expansion and improved operational control. The objective of this transition is to increase recurring revenues and build a more stable and scalable revenue base over time. This transition also reflects the Company’s efforts to address limitations of its legacy hardware-driven model, which was historically characterized by a limited number of larger transactions and production ahead of realized demand, resulting in inventory build-up and delayed deployment of systems. |
| ● | Charging: Demand for the Company’s charging solutions continues, notwithstanding lower sales in 2025. Customer purchasing patterns have evolved from large bulk orders toward more phased deployments, reflecting installation timelines, project complexity and execution considerations. As part of this development, the Company has expanded and diversified its customer base to more than 100 clients, with an increasing focus on blue-chip counterparties. While initial orders from new customers are typically smaller in size, this approach is expected to support more stable growth, improved margins and increased visibility across key geographies over time. |
| ● | Commercial & Industrial (C&I): Commercial activity commenced in Q3 2025 following the finalization of key partnerships and product availability, including long-term cooperation with one of the major world battery suppliers. The Company has made a deliberate shift toward a partnership-based model, reflecting a strategic response to earlier commercial and technical constraints in the delivery model and positioning the C&I business line for more sustainable and repeatable deployment going forward. Due to the timing of its launch, revenues in 2025 were still limited; however, the Company was able to build an order backlog of approximately €9 million, with deliveries beginning in 2026 and expected to contribute to revenues. |
| ● | Large scale battery project: About a year ago, the Company began developing a large scale battery project in southern Germany together with our C&I business with a planned multi-GW capacity. The project has made significant progress to date, including securing land, obtaining municipal approval and advancing grid connection arrangements. Based on the current timeline, the Company expects to reach ready-to-build status in 2026, subject to final construction permitting and finalization of a grid connection agreement; following which it intends to advance financing and evaluate potential strategic partnerships. Once operational, the project is expected to generate returns and support long-term cash flow generation. |
| ● | Own & Operate (O&O): Although growth was delayed by legacy financing constraints, the Company has established its first O&O installations, secured more than 150 locations, and brought initial systems into operation—supporting the development of recurring revenue streams through energy management features (e.g. trading) and advertising. |
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| ● | Service: Service revenues are driven by the Company’s installed base, with more than 330 service contracts currently in place, typically with multi-year tenors of approximately eight years following a standard two-year warranty. These contracts provide recurring revenue visibility and support margins across business cycles. Service agreements are generally entered into in connection with hardware sales and are an integral part of the Company’s offering, including maintenance, monitoring, software updates and energy management services. |
| ● | Platform and scalability: The Company has completed a full SAP implementation, providing the necessary infrastructure to support international scaling, recurring revenue management, and improved operational control across its business lines. |
| ● | Financing: Following the redemption of the convertible note facility, the Company is evaluating alternative debt financing options to support its ongoing strategic initiatives, particularly a large scale battery project, as it progresses toward ready-to-build status and subsequent development. In this context, the Company has engaged advisors to explore a potential EUR 125 million bond issuance or direct loan with a tenor of three to five years. |
Building for the Future
| 1. | Although revenue from the EV charging business declined significantly in 2025, the Company expects demand to support a gradual recovery in the charging business, driven by continued EV adoption and the ongoing need for charging infrastructure. The Company also anticipates that fleet and corporate demand may contribute to EV market growth in the coming years. |
| 2. | The Company has established a C&I sales pipeline, which is expected to progressively translate into revenues as projects are executed. In addition, the Company continues to advance the development of its large scale battery project and expects to reach ready-to-build status in 2026, which represents a key milestone toward the project’s subsequent development and commercialization. |
| 3. | Own & Operate business is expected to start contributing to the Company’s revenues, as installations are rolled out and become operational. |
| 4. | Service revenues are expected to continue to grow, supported by the expansion of the installed base and associated service contracts. |
In line with its strategic priorities to implement a sustainable long-term capital structure, the Company is assessing financing options to support its future business over time, which may include bonds, bilateral loans or other debt facilities.
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Preliminary and Unaudited Consolidated Financial Statements
Income Statement
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Balance Sheet
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Cash Flow
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About ADS-TEC Energy
Based on more than ten years of experience with lithium-ion technologies, ADS-TEC Energy develops and produces battery storage solutions and fast charging systems including their energy management systems. Its battery-based fast-charging technology enables electric vehicles to charge ultra-fast even with weak power grids and is characterized by a very compact design. The Company, based in Nürtingen, Baden-Württemberg, was nominated for the German Future Prize by the Federal President and was included in the "Circle of Excellence" in 2022. The high quality and functionality of the battery systems is due to a particularly high level of in-depth development and in-house production. With its advanced system platforms, ADS-TEC Energy is a valuable partner for car manufacturers, energy supply companies and charging station operators.
More information at: www.ads-tec-energy.com
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, among other things, statements regarding the Company’s expectations with respect to future performance, the development and scaling of its business lines, including EV charging, Commercial & Industrial, large scale battery projects, Own & Operate activities, service and software offerings, and the anticipated timing of certain commercial activities, as well as the Company’s ability to successfully execute its strategic transition toward a more diversified and recurring revenue-based business model. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: risks related to demand for EV charging and energy storage solutions and the continued adoption of electric vehicles; risks related to inventory levels and the Company’s ability to sell products at anticipated prices and within expected timeframes; risks that the Company’s order backlog may not be realized as expected, including as a result of delays, modifications or cancellations; risks associated with the development of large scale battery projects, such as the ability to obtain permits, achieve ready-to-build status, secure grid connection and supply chain arrangements, and complete construction and commercialization; risks related to the Company’s reliance on strategic partnerships and the potential for disruption, underperformance or termination of such arrangements; the Company’s ability to secure additional financing; the Company’s ability to access sufficient liquidity in the near term to sustain operations and execute its strategy; risks relating to the capital-intensive nature of the Own & Operate model, including utilization risk and the ability to recover upfront investments; risks related to customer adoption, retention and service performance; supply chain constraints, reliance on key suppliers and contractors, and risks of delays, cost overruns or disruptions in project execution; competition and technological developments in the EV charging and battery storage markets; the Company’s dependence on a limited number of customers for a significant portion of revenues; potential reductions in governmental incentives supporting EV adoption; unexpected delays in product development or commercialization; the Company’s ability to expand geographically and build scalable processes; the risk that the Company’s technology could have undetected defects or errors; as well as general macroeconomic, regulatory and market conditions, including inflation, interest rates, geopolitical developments and changes in energy and environmental regulation. Additional information regarding these and other risks and uncertainties will be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.
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