AYRO Earnings Reports

AYRO reported its Q3 2023 financial results, highlighting the first revenue from AYRO Vanish sales and the successful completion of homologation for the AYRO Vanish Low-Speed Electric Vehicle. The company is focused on manufacturing additional AYRO Vanish units and expects to reach break-even on a per-unit basis during the second half of 2024.

AYRO reported minimal revenue in Q2 2023 due to the sunsetting of the Club Car Current, with internal efforts focused on advancing the Vanish to production. The company completed homologation safety and testing requirements for the Vanish and is targeting low-rate initial production (LRIP) this fall. AYRO also completed a $22 million financing, bringing cash and marketable securities to $33 million as of June 30, to support manufacturing and launch efforts.

AYRO reported its Q1 2023 earnings, highlighting progress in the development of the AYRO Vanish and maintaining a cash balance of nearly $42 million, which they believe is sufficient to reach profitability based on current forecasts. The company is focusing on bringing the Vanish to market and plans to introduce the Valet and Vapor products by year-end.

AYRO reported a revenue of $3 million for the year ended December 31, 2022, representing an 11% year-over-year growth. The company's net loss improved by $10 million compared to the previous year, and they finished the year with approximately $49 million in cash and marketable securities.

AYRO's financial performance in Q3 2022 was negatively impacted by defective components from a former supplier, limiting inventory of the Club Car Current. The company's cash and marketable securities balance at the end of the quarter was $55.2 million. AYRO is scaling up its manufacturing facility in anticipation of first article production of the Vanish in Q1 2023.

AYRO reported its second highest quarterly revenue of approximately $982,000. The company is focused on developing the AYRO Z platform and addressing issues with defective components received from Cenntro.

AYRO announced record revenue, reduced net loss by $3.2 million sequentially, and continued progress on the AYRO Z development.

AYRO reported record revenue in Q4, driven by record unit deliveries of the Club Car Current LSEV. The company began development of the next-generation 411 fleet vehicle model year 2023 refresh, called the ‘AYRO Z’, and expects to launch it by year-end 2022.

AYRO reported its Q3 2021 financial results, highlighting a contracted backlog of $4.1 million as of September 30, 2021, and over $77 million in cash at quarter end.

AYRO announced its second-quarter results, highlighting the launch of the Club Car Current and purchase orders valued at $4.9 million. Despite growing demand, revenue was slightly down from the first quarter due to the timing of the Current's launch and manufacturing transition.

AYRO's first quarter 2021 financial performance marked the sixth consecutive quarter of quarter-over-quarter revenue growth. The company has over $90 million in cash on its balance sheet.

AYRO reported an 80% increase in revenue for fiscal year 2020 over fiscal year 2019, marking the fifth consecutive quarter of year-over-year revenue increase.

AYRO announced Q3 2020 financial results, highlighting a successful improvement in their balance sheet through two equity raises, resulting in nearly $28 million in cash at the end of the quarter. The company continued to deliver 411 cars to Club Car and established a new partnership with Gallery Carts, receiving an initial order for mobile food trucks valued at nearly $600,000.

AYRO, Inc. reported its second quarter 2020 financial results, which were impacted by COVID-19. The company is focused on strengthening its balance sheet, developing new channels to market, and pursuing strategic partnerships. Facilities are now operational and the supply chain is supporting sales and marketing efforts.