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Posted On: 06/30/2021 3:57:52 PM
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NetworkNewsBreaks – Ideanomics Inc.’s (NASDAQ: IDEX) Business Vitality Demonstrated in Robust Growth
Ideanomics (NASDAQ: IDEX) recently released its Q1 2021 financials for the three months ending March 31, 2021. The company reported $32.7 million in Q1 2021 revenue, up from $378,000 in Q1 2020. Its gross profits also grew severalfold to $10.8 million in Q1 2021, up from $44,000 in Q1 2020. According to an article discussing these impressive results, “This robust growth demonstrates the vitality of Ideanomics’ business, as well as its ability to bounce back.” The U.S. market accounted for 90.6% of the total revenue, followed by China with a 9.3% contribution and Malaysia with $7,000. In terms of revenues from products and services, Timios, Ideanomics’ subsidiary, accounted for 84.4%, followed by WAVE with a 5.7% contribution. In the press statement accompanying the results announcement, CEO Alf Poor said, “I am both pleased and proud to say that, as it stands today, the company is the healthiest it has been in close to three years that I have been on board.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Ideanomics (NASDAQ: IDEX) recently released its Q1 2021 financials for the three months ending March 31, 2021. The company reported $32.7 million in Q1 2021 revenue, up from $378,000 in Q1 2020. Its gross profits also grew severalfold to $10.8 million in Q1 2021, up from $44,000 in Q1 2020. According to an article discussing these impressive results, “This robust growth demonstrates the vitality of Ideanomics’ business, as well as its ability to bounce back.” The U.S. market accounted for 90.6% of the total revenue, followed by China with a 9.3% contribution and Malaysia with $7,000. In terms of revenues from products and services, Timios, Ideanomics’ subsidiary, accounted for 84.4%, followed by WAVE with a 5.7% contribution. In the press statement accompanying the results announcement, CEO Alf Poor said, “I am both pleased and proud to say that, as it stands today, the company is the healthiest it has been in close to three years that I have been on board.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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