NetworkNewsBreaks – Ideanomics Inc. (NASDAQ: IDE
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Posted On: 04/01/2021 5:10:13 PM
NetworkNewsBreaks – Ideanomics Inc. (NASDAQ: IDEX) Releases FY 2020 Financial Report
Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles (“EVs”) and associated energy consumption, has reported its full-year 2020 revenues and operational milestones for the year ended Dec. 31, 2020. Highlights of the report indicate that the company’s revenues for the year totaled $26.8 million, resulting in sufficient resources to support IDEX’s strategic long-term growth plan. The report also noted Ideanomics’s continued strength and consistent performance in the EV industry as the company’s Sales 2 Financing 2 Charging (“S2F2C”) business model gains traction in the electric vehicle sector. The financial report also indicated that gross profit for 2020 for the company was $2.1 million. According to the announcement, 2020 revenues include the company’s first sales of charging & battery systems, a part of the EV ecosystem that is key to Ideanomics’ S2F2C business model. The company held a conference call to discuss its financial report; IDEX executive team members hosted the call, including CEO Alf Poor, CFO Conor McCarthy and SVP of investor relations Tony Sklar. A replay of the earnings call will be available after the conclusion of the event. “We are very pleased with the transformation that took place this past year,” said Ideanomics CEO Alf Poor in the press release. “Despite a year highlighted by COVID-19, we were able to build the groundwork for 2021 and beyond for Ideanomics, and we are excited for what the future holds with our recent activity across the EV ecosystem and developments in EV charging infrastructure.”
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), a global company focused on driving the adoption of commercial electric vehicles (“EVs”) and associated energy consumption, has reported its full-year 2020 revenues and operational milestones for the year ended Dec. 31, 2020. Highlights of the report indicate that the company’s revenues for the year totaled $26.8 million, resulting in sufficient resources to support IDEX’s strategic long-term growth plan. The report also noted Ideanomics’s continued strength and consistent performance in the EV industry as the company’s Sales 2 Financing 2 Charging (“S2F2C”) business model gains traction in the electric vehicle sector. The financial report also indicated that gross profit for 2020 for the company was $2.1 million. According to the announcement, 2020 revenues include the company’s first sales of charging & battery systems, a part of the EV ecosystem that is key to Ideanomics’ S2F2C business model. The company held a conference call to discuss its financial report; IDEX executive team members hosted the call, including CEO Alf Poor, CFO Conor McCarthy and SVP of investor relations Tony Sklar. A replay of the earnings call will be available after the conclusion of the event. “We are very pleased with the transformation that took place this past year,” said Ideanomics CEO Alf Poor in the press release. “Despite a year highlighted by COVID-19, we were able to build the groundwork for 2021 and beyond for Ideanomics, and we are excited for what the future holds with our recent activity across the EV ecosystem and developments in EV charging infrastructure.”
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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