share_log

10-K: Annual report

SEC ·  Mar 18 21:08

Summary by Moomoo AI

Bolt Projects Holdings reported FY2024 revenue of $1.4 million, down 60% YoY, with a net loss of $65.4 million compared to $57.7 million in 2023. The decline primarily reflected decreased sales of b-silk products as the company strategically focused on its Vegan Silk Technology Platform. Gross loss improved to $0.1 million from $1.4 million in 2023 due to lower manufacturing costs.Operating expenses increased 25% to $41.5 million, driven by $18.2 million in stock-based compensation and $7.9 million in bridge note issuance costs. The company secured a new three-year supply agreement in October 2024 with minimum order quantities, while maintaining its manufacturing partnership with Laurus Bio. Research and development expenses decreased 35% to $6.2 million following discontinuation of Mylo production.As of December 31, 2024, Bolt had $3.5 million in cash and expressed substantial doubt about...Show More
Bolt Projects Holdings reported FY2024 revenue of $1.4 million, down 60% YoY, with a net loss of $65.4 million compared to $57.7 million in 2023. The decline primarily reflected decreased sales of b-silk products as the company strategically focused on its Vegan Silk Technology Platform. Gross loss improved to $0.1 million from $1.4 million in 2023 due to lower manufacturing costs.Operating expenses increased 25% to $41.5 million, driven by $18.2 million in stock-based compensation and $7.9 million in bridge note issuance costs. The company secured a new three-year supply agreement in October 2024 with minimum order quantities, while maintaining its manufacturing partnership with Laurus Bio. Research and development expenses decreased 35% to $6.2 million following discontinuation of Mylo production.As of December 31, 2024, Bolt had $3.5 million in cash and expressed substantial doubt about its ability to continue as a going concern. The company is pursuing additional financing options, including a $1.5 million common stock purchase agreement with Triton Funds and a settlement agreement with Golden Arrow Sponsor regarding excise tax liability. Management continues to focus on commercializing its Vegan Silk Technology Platform while seeking strategic alternatives to strengthen its financial position.

This announcement is a separate document:

Doc 1

Doc 2

Doc 3

Doc 4

Doc 5

Doc 6

Doc 7

Doc 8

Doc 9

Doc 10

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
Comment Comment · Views 327
Related Stocks Related Stocks
Symbol Mini Chart Price
Marblegate Acquisition Corp
GATE
11.600
Unusual Machines
UMAC
7.340
Metal Sky Star Acquisition Corp
MSSA
12.350
Cohen Circle Acquisition Corp. I
CCIR
12.470
dMY Squared Technology Group
DMYY
11.210
Log In for the Full List
Reassessing Chinese Assets
Following the introduction of China's groundbreaking DeepSeek technology, Wall Street giants have revised their investment outlooks for the Chinese market.
Discussing
FOMC holds rates amid heightened uncertainty: Where will US stocks head next?
🎙️Discussion 1. With the Fed highlighting "elevated uncertainty", are you prioritizing rate projections or near-term economic data for ma Show More
Fed rate cut expectations for 2025 intensify. What’s your market outlook?
42%
58%
Bullish
Bearlish
1272 votes
FOMC Press Conference, March 19, 2025