Street Calls of the Week
Bolt Projects Holdings, Inc. (NASDAQ:BSLK), a Delaware-incorporated company specializing in perfumes, cosmetics, and other toilet preparations, has updated its financial forecast for the year 2025. The revision was disclosed in a regulatory filing with the Securities and Exchange Commission on March 28, 2025. According to InvestingPro data, the company currently faces significant financial challenges, with a market capitalization of just $10.49 million and a concerning revenue decline of 60.1% in the last twelve months.
In the amended document, Bolt Projects announced an expected revenue of at least $4.5 million for the year 2025. This update comes as a revision of the company’s Fourth Quarter 2024 Shareholder Letter, which was originally issued on March 18, 2025. The adjustment aligns with the company’s earnings release, which also reflected the updated revenue expectations. InvestingPro analysis reveals the company reported an EBITDA of -$41.61 million in the last twelve months, with their next earnings report scheduled for April 24, 2025.
The revised shareholder letter, which contains the updated financial outlook, has been posted by the company as part of its regulatory disclosure. However, the information provided in the revised shareholder letter and the earnings release is not considered "filed" under Section 18 of the Securities Exchange Act of 1934, nor is it subject to the liabilities of that section. Additionally, the information is not to be incorporated by reference into any filings under the Securities Act of 1933 or the Exchange Act, except as explicitly stated in such filings.
Bolt Projects Holdings, previously known as Golden Arrow Merger Corp., underwent a name change on January 19, 2021. The company is headquartered at 2261 Market Street, Suite 5447, in San Francisco, California. It operates under the SIC code 2844, which includes companies involved in manufacturing perfumes, cosmetics, and other toilet preparations.
The company’s common stock, with a par value of $0.0001 per share, and warrants, each whole warrant exercisable for one share of common stock at an exercise price of $11.50, are both listed on The Nasdaq Stock Market under the symbols BSLK and BSLKW, respectively.
The financial data and future expectations outlined in this article are based on the company’s press release statement.
In other recent news, Bolt Projects Holdings announced the appointment of Christine Battist as a new member of its Board of Directors and chairperson of the Audit Committee. This appointment fills a vacancy and positions Battist as a Class II director with a term expiring at the 2026 annual meeting of stockholders. In another development, Bolt Projects Holdings received notifications from The Nasdaq Stock Market LLC regarding potential delisting due to non-compliance with market value requirements. The company’s common stock and publicly held shares have not met the minimum market value thresholds for 30 consecutive business days. Bolt Projects Holdings has until August 11, 2025, to regain compliance by raising its market value of listed securities to $50 million and its publicly held shares to $15 million for at least ten consecutive business days. The company is actively monitoring its market value and exploring options to meet these requirements. Despite the delisting risk, the stock will remain listed during the 180-day grace period. Bolt Projects Holdings may appeal or transition to The Nasdaq Capital Market if it meets the necessary listing requirements.
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