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Safe & Green Holdings Corp. (SGBX-13.52%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a decrease in total revenue to $4,976,618 from $16,523,080 in the previous year, primarily due to a reduction in construction projects.
Operating loss for the year was $9,706,615, compared to $21,749,208 in the prior year, reflecting a 55% improvement.
The company reported a net loss attributable to common stockholders of $22,601,278, compared to $26,282,533 in 2023.
Safe & Green Holdings Corp. deconsolidated its subsidiary SG DevCorp during the year, recognizing a gain of $4,637,013 from the deconsolidation.
The company ended the year with $375,873 in cash and cash equivalents, and a backlog of $1,182,955.
The filing notes that the company has incurred losses since inception, raising substantial doubt about its ability to continue as a going concern.
Safe & Green Holdings Corp. plans to meet its capital needs through revenue generation, cost containment, and exploring strategic alliances.
The company reported a working capital deficit of $12,650,196 as of December 31, 2024.
The filing outlines various financial agreements, including cash advances and factoring agreements, to support operations.
The company continues to focus on its four segments: construction, medical, real estate development, and environmental.
Safe & Green Holdings Corp. does not anticipate cash dividend payments to common stockholders in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Safe & Green Holdings Corp. annual 10-K report dated April 1, 2025. To report an error, please email earnings@qz.com.