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SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 20 – SEGMENT REPORTING

 

Greenwave is organized into three operating segments based on our differentiated products – Scrap Metal Recycling, Hauling, and Other (primarily comprised of rental income).

 

We have one reportable geographic segment: the United States of America as all of our scrap metal is sourced domestically.

 

Our CODM, Danny Meeks, Chairman and CEO, evaluates performance on an operating segment basis, as well as a consolidated basis, based on revenues and operating cashflows. This measure is used by our CODM, management, investors, lenders and other external users of our financial statements to assess our operating performance and to compare operating performance to other companies in the metal recycling industry. Our CODM utilizes segment profit and loss in assessing segment performance and allocating resources.

 

Operating expenses, including selling, general and administrative expenses, depreciation and amortization, and other operating costs, are managed centrally and are not allocated to individual operating segments. These expenses are not included in the information regularly provided to or reviewed by the CODM when evaluating segment performance or making resource allocation decisions. As such, consistent with the requirements of ASU 2023-07, we present operating expenses only in the “Total” column and do not disaggregate these expenses by segment.

 

The following tables provide our results by segment:

 

   Recycling   Hauling   Other   Total 
   Year Ended December 31, 2025 
   Scrap Metal             
   Recycling   Hauling   Other   Total 
Revenues  $32,888,499   $13,695,565   $76,256   $46,660,320 
Cost of revenues   (27,473,253)   (7,313,642)   -    (34,786,895)
Gross Profit:  $5,415,246   $6,381,923   $76,256   $11,873,425 
                     
Operating Expenses                 $(31,694,143)
Other Expenses                  (1,775,910)
Deemed Dividends                 $(2,999,964)
Net loss available to common shareholders                 $(24,596,592)

 

   Recycling   Hauling   Other   Total 
   Year Ended December 31, 2024 
   Scrap Metal             
   Recycling   Hauling   Other   Total 
Revenues  $23,296,239   $9,881,820   $137,800   $33,315,859 
Cost of revenues   (14,508,923)   (5,817,458)   -    (20,326,381)
Gross Profit:  $8,787,316   $4,064,362   $137,800   $12,989,478 
                     
Operating Expenses                 $(47,251,411)
Other Income                  10,344,580 
Deemed Dividends                  (76,528,836)
Net loss available to common shareholders                 $(100,446,189)