Ideanomics reported revenue of $27 million for the third quarter of 2021, with a gross profit of $4.5 million, representing a gross margin of 16.7%. The Mobility Unit's revenue was $11.5 million, marking the third consecutive quarter of growth.
Ideanomics reported a revenue of $33.2 million for Q2 2021, marking the sixth consecutive quarter of growth. The quarter includes initial revenues from recent acquisitions, US Hybrid and Solectrac, and a gross profit of $9.3 million.
Ideanomics reported a strong first quarter in 2021, marked by significant revenue growth driven by strategic acquisitions such as Timios and WAVE. The company's focus on electric vehicles and fintech solutions contributed to increased revenue and gross profit compared to the previous year.
Ideanomics reported full year 2020 results with revenue of $26.8 million, driven by growth in EV revenue which increased to $19.5 million.
Ideanomics reported Q3 2020 financial results with revenue of $10.6 million, primarily driven by the MEG business unit. The company experienced an operating loss of $12.0 million, attributed to lower gross profit compared to the same period in 2019.
Ideanomics reported revenue of $4.7 million for the second quarter of 2020, marking the largest revenue from MEG since the company commenced EV sales. The company's gross profit was $255,000, representing a gross margin of 4.9%. The operating loss was $16.3 million, which included a one-time non-cash impairment charge of $6.2 million.
Ideanomics reported a decrease in revenue due to the transition away from oil and electronics trading. The company focused on its Mobile Energy Global (MEG) and Ideanomics Capital divisions. Impairments were taken to clear a path to profitability and growth.