Bolt Projects Holdings Inc. has reported its financial results for the first quarter ended March 31, 2025. The company recorded revenues of approximately $171 thousand, a significant increase from the $19 thousand reported in the first quarter of 2024. This rise in revenue was primarily driven by ongoing shipments related to Bolt's strategic partnership with Goddess Maintenance Company and reorders from previous launches. Operating expenses for the first quarter of 2025 were approximately $5.4 million, compared to $5.2 million in the same quarter of the previous year. The increase in operating expenses was attributed to higher spending in research and development, sales and marketing efforts, and general administrative costs associated with being a public company. Bolt reported an operating loss of approximately $5.4 million and a net loss of $6.0 million for the first quarter of 2025. This is in comparison to an operating loss of $5.3 million and a net loss of $6.6 million in the first quarter of 2024. The decrease in net loss is attributed to reduced remeasurement losses on the company's shared-based liabilities. The company also reported that its cash and cash equivalents as of March 31, 2025, stood at $1.0 million, down from $3.5 million as of December 31, 2024. In terms of future financial outlook, Bolt projects revenues of at least $4.5 million for the entirety of 2025 and expects revenues to reach at least $9.0 million in 2026. Additionally, Bolt anticipates achieving a positive gross profit for the full years of 2025 and 2026. A significant corporate update includes Bolt's completion of a 20-to-1 reverse stock split on April 22, 2025, following an affirmative shareholder vote at a special meeting on April 9.