Greenwave Technology Solutions, Inc. Segments Disclosure

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:

 SCHEDULE OF SEGMENT REPORTING

		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	)