NetworkNewsBreaks – Ideanomics (NASDAQ: IDEX) Re
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Posted On: 05/18/2021 5:08:12 PM
NetworkNewsBreaks – Ideanomics (NASDAQ: IDEX) Releases Q1 2021 Financial Report
Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, has reported its financial numbers for Q1 2021. Included in the report was revenue of $32.7 million, which represents the fifth consecutive quarter of growth, and gross profit of $10.8 million for the period ended March 21, 2021. The company noted that the first-quarter numbers included first revenues from its two January 2021 acquisitions: WAVE, an inductive-charging business, and Timios, a title and escrow services company. Corporate highlights for the quarter included the company’s acquisition of WAVE and Timios, as well as its announced sponsorship in NACFE and membership in CALSTART. The company also noted that Timios generated record-high revenue for the quarter as it expanded its retail purchasing business. The company reported that it ended the quarter with $356 million cash, which provides a deep pool of capital for continued investment in its mobility and capital business units. “Ideanomics is transforming dramatically quarter over quarter,” said Ideanomics CEO Alf Poor in the press release. “I am both pleased and proud to say that as is 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), a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, has reported its financial numbers for Q1 2021. Included in the report was revenue of $32.7 million, which represents the fifth consecutive quarter of growth, and gross profit of $10.8 million for the period ended March 21, 2021. The company noted that the first-quarter numbers included first revenues from its two January 2021 acquisitions: WAVE, an inductive-charging business, and Timios, a title and escrow services company. Corporate highlights for the quarter included the company’s acquisition of WAVE and Timios, as well as its announced sponsorship in NACFE and membership in CALSTART. The company also noted that Timios generated record-high revenue for the quarter as it expanded its retail purchasing business. The company reported that it ended the quarter with $356 million cash, which provides a deep pool of capital for continued investment in its mobility and capital business units. “Ideanomics is transforming dramatically quarter over quarter,” said Ideanomics CEO Alf Poor in the press release. “I am both pleased and proud to say that as is 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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