Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles, has announced its Q2 financial results for the period ended June 30, 2023. According to the report, the company saw revenues of $8.2 million for the quarter, which represents a 13% decrease from the same period in 2022, while revenue for continuing operations for the first half of 2023 was $13.8 million, 19% higher than the same period last year. The company reported gross profit of $0.7 million, which represents a gross margin of 8.4%. Gross profit for continuing operations for Q2 2022 was ($0.5) million. In addition to the financial report, the company reported Q2 business highlights, including that its subsidiary Solectrac debuted a new EV tractor called the E25H and also launched a tractor rental program; its subsidiary Energica partnered with Plenitude to provide new innovative solutions for electric mobility; and it finalized divestments of Timios and JUSTLY. Ideanomics also noted in the report that it is continuing to execute on its “commitment to shareholders to exit noncore businesses and finalize a reorganization of the business to focus on last-mile and local delivery vehicles and associated charging products.”
To view the full press release, visit https://ibn.fm/tTc7P
About Ideanomics Inc.
Ideanomics is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation and financial services, the company provides the completeness of solutions needed for the commercial world to commit to an EV future. For more information about the company, please visit www.Ideanomics.com.
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX
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