Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles, is reporting on its financial results for the fourth quarter and full year 2022, for the period ended Dec. 31, 2022. According to the report, the company achieved consecutive revenue growth for the third year in a row. Other highlights of the report include a $170 million order secured through subsidiary VIA Motorswith Pegasus Specialty Vehicles, a partnership with EAVX (part of JB Poindexter) to develop an electric class delivery van, combined sales from both its Solectrac and Energica subsidiaries of more than 850 branded electric vehicles and several high-value commercial deals, including the delivery of 88 Energica motorcycles to the Indonesia National Police. The company reported revenue of $100.9 million and gross profit of negative $0.8 million. “Last year was challenging for the entire EV industry,” said Ideanomics CEO Alf Poor in the press release. “Despite the headwinds, Ideanomics generated approximately 70% more revenue from the sale of EVs and charging solutions compared to 2021. We achieved this by reducing costs and through smart, targeted investments to increase production capacity, enhancing our sales and distribution channels, and strengthening our management team. This demonstrates that we are on the right track and are ready to meet growing demand for our EV and charging solutions as the transition to zero-emission transportation accelerates.”
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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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