NetworkNewsBreaks – Ideanomics Inc. (NASDAQ: IDE
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Posted On: 08/17/2021 4:51:00 PM
NetworkNewsBreaks – Ideanomics Inc. (NASDAQ: IDEX) Releases Financial Report for Second Quarter 2021
Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, has reported its Q2 2021 operating and financial results for the period ended June 30, 2021. Highlights of the report included revenues for the quarter totaling $33.2 million with gross profit reaching $9.3 million, and $396 million in cash at quarter end that provides capital for investment in the company’s Mobility and Capital business units. The report also noted key operational highlights, including the fact that Ideanomics offers the only EV tractor that is made in America and that recent acquisition US Hybrid has relocated to new, larger headquarters facility to accommodate the expected increase in commercial demand. In addition, Ideanomics announced that its Capital and Mobility teams have begun working together and that Ideanomics chief scientist Dr. Abas Goodarzi, who joined Ideanomics through the US Hybrid acquisition, received the IEEE PELS Vehicle and Transportation Systems Achievement Award. The company also inked a deal with Treeletrik to supply 200,000 e-motorbikes to Indonesia. Finally, the company subsidiary, Wireless Advanced Vehicle Electrification (“WAVE”) noted that its inductive wireless charging system has been adopted by Twin Transit Authority in Washington; the move is significant as IDEX is working to position WAVE as the “charger of choice.” The company also noted that the increased revenue for the quarter marks the sixth consecutive quarter of growth for the company, and that this quarter reflects first revenues from US Hybrid and a second acquisition, Solectrac. “Ideanomics is executing on what we believe is one of the most compelling, vertically integrated, offerings in the EV sector,” said Ideanomics CEO Alf Poor in the press release. “We have best-in-class, leading technologies, with the talent to leverage our presence in the most significant global markets.”
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 Q2 2021 operating and financial results for the period ended June 30, 2021. Highlights of the report included revenues for the quarter totaling $33.2 million with gross profit reaching $9.3 million, and $396 million in cash at quarter end that provides capital for investment in the company’s Mobility and Capital business units. The report also noted key operational highlights, including the fact that Ideanomics offers the only EV tractor that is made in America and that recent acquisition US Hybrid has relocated to new, larger headquarters facility to accommodate the expected increase in commercial demand. In addition, Ideanomics announced that its Capital and Mobility teams have begun working together and that Ideanomics chief scientist Dr. Abas Goodarzi, who joined Ideanomics through the US Hybrid acquisition, received the IEEE PELS Vehicle and Transportation Systems Achievement Award. The company also inked a deal with Treeletrik to supply 200,000 e-motorbikes to Indonesia. Finally, the company subsidiary, Wireless Advanced Vehicle Electrification (“WAVE”) noted that its inductive wireless charging system has been adopted by Twin Transit Authority in Washington; the move is significant as IDEX is working to position WAVE as the “charger of choice.” The company also noted that the increased revenue for the quarter marks the sixth consecutive quarter of growth for the company, and that this quarter reflects first revenues from US Hybrid and a second acquisition, Solectrac. “Ideanomics is executing on what we believe is one of the most compelling, vertically integrated, offerings in the EV sector,” said Ideanomics CEO Alf Poor in the press release. “We have best-in-class, leading technologies, with the talent to leverage our presence in the most significant global markets.”
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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