From GlobeNewswire: 2025-04-01 16:41:00

Safe & Green Holdings Corp. (NASDAQ: SGBX) reports financial results for 2024, including revenue of $4.9 million, a gross loss of ($244,077), and a net loss of ($22.6) million. The company appointed new executives and secured new contracts, with a legal victory against EDI International and PVE.

CEO Mike McLaren highlights a challenging year for Safe & Green Holdings in 2024 but emphasizes a strong management team and future growth opportunities. The company’s merger with Olenox and Machfu.com is expected to enhance energy expertise and sustainable infrastructure capabilities for future success.

At the end of 2024, Safe & Green Holdings had cash and cash equivalents of $375,873, with stockholders’ equity at ($12.4) million. Adjusted EBITDA for 2024 was approximately ($9.4) million, reflecting a decrease from the previous year. The company provides non-GAAP financial measures to enhance understanding of operating performance.

Olenox Corp. focuses on oil and gas production, energy services, and technologies, while Machfu, Inc. delivers Industrial Internet of Things (IIoT) solutions for industrial automation. Safe & Green Holdings Corp. is a leading modular solutions company specializing in modular structures across various industries for safe and green construction solutions.

Forward-looking statements in the press release highlight risks and uncertainties, including successful integration of Olenox and Machfu.com, government regulations, and compliance with NASDAQ listing requirements. The company commits to updating information as required by law and provides investor relations contact information for further inquiries.



Read more at GlobeNewswire:: Safe & Green Holdings Reports Year-End 2024 Results