From GlobeNewswire: 2024-06-18 17:05:00

Ideanomics (NASDAQ: IDEX) announced its fourth quarter and full year 2023 operating results. Revenue for the full year was $15.5 million, a decrease of 18.7% from 2022. Gross profit for the full year was negative $2.7 million. Ideanomics continued focusing on last-mile and local delivery vehicles and charging products in 2023.

Throughout 2023, Ideanomics worked on partnerships for electric solutions in various industries. Energica Inside partnered for all-electric aviation, marine, and off-road solutions. Energica was also chosen to provide electric motorcycles to police fleets in France and Barbados. WAVE completed wireless charging installations and projects with logistics fleets.

Ideanomics’ management, including CEO Alf Poor and CFO Ryan Jenkins, held an earnings conference call. Financial details for the full year included revenue from sales of products at $13.71 million and services at $985, with a total revenue of $15.45 million. Gross profit was negative $2.71 million.

The consolidated balance sheet for Ideanomics showed total assets of $116.88 million. Current liabilities amounted to $117.63 million, with total liabilities at $137.16 million. Ideanomics’ total equity was reported at negative $28.22 million, with non-controlling interest at $6.11 million.

For more information and updates, follow Ideanomics on social media or visit their website at ideanomics.com. Contact Tony Sklar, SVP of Investor Relations, at [email protected] for further inquiries.



Read more at GlobeNewswire:: Ideanomics, Inc. Reports Q4 and Full Year 2023 Financial