Nuvera Q2 Loss Narrows, But Debt Covenant Breach Forces Waiver
NUVR sits 80% above its 52-week low of $9.6 on light trading volume (0.1× avg).
Summary
Nuvera reported a narrower Q2 loss but disclosed a debt covenant breach and subsequent waiver from CoBank, along with the expiration of its interest rate swap.
Key Events · Earnings and Guidance · NUVR
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Q2 Loss Narrows
Net loss of $160,770 in Q2 2026, a 62% improvement from $424,040 loss in Q2 2025, driven by 8% data service revenue growth and lower depreciation.
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Debt Covenant Breach
Debt service coverage ratio fell to 1.99, below the 2.00 minimum. CoBank granted a waiver on August 6, 2026, lowering the minimum to 1.75.
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Interest Rate Swap Expired
The $43.75 million interest rate swap expired July 31, 2026 and was not extended, leaving that debt exposed to variable rates.
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Aureon Investment Sold
On July 22, 2026, Nuvera sold its Aureon investment for $1,281,409 total proceeds with no gain or loss recognized.
Analysis · NUVR · Technology
Nuvera's second-quarter net loss narrowed to $160,770 from $424,040 a year earlier, driven by data service growth and lower depreciation. However, the company's debt service coverage ratio fell to 1.99, below the 2.00 covenant minimum, requiring a waiver from CoBank on August 6, 2026 that lowered the threshold to 1.75. The company also allowed its $43.75 million interest rate swap to expire on July 31, 2026, increasing exposure to variable rates on that portion of debt. These covenant and hedging developments add financial risk despite improving operating trends.
At the time of this filing, NUVR was trading at $17.25 on OTC in the Technology sector, with a market capitalization of approximately $90.2M. The 52-week trading range was $9.60 to $18.18. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.