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Jun 30, 2020
Ideanomics Q2 2020 Earnings Report
Ideanomics reported Q2 2020 financial results.
Key Takeaways
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.
Revenue for Q2 2020 was $4.7 million, the largest revenue from MEG since commencing EV sales.
Q2 revenues improved compared to Q1, with $4.7 million versus $378,000.
Gross profit for Q2 was $255,000, representing a gross margin of 4.9%.
Operating loss was $16.3 million, including a $6.2 million one-time non-cash impairment charge.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance but management continues to look for ways to reduce costs and allocate spending to the projects with the highest rate of return.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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