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Mar 31, 2022
AYRO Q1 2022 Earnings Report
AYRO reported record revenue, reduced operating expenses, and narrowed net loss.
Key Takeaways
AYRO announced record revenue, reduced net loss by $3.2 million sequentially, and continued progress on the AYRO Z development.
Recognized record revenue.
Reduced total operating expenses.
Narrowed net loss.
Made excellent progress on the development of the AYRO Z.
Forward Guidance
AYRO expects sequentially higher revenue in the second quarter of 2022 and remains on target for a year-end launch of the AYRO Z.
Positive Outlook
- Expecting sequentially higher revenue in Q2 2022.
- AYRO Z development remains on target and on budget.
- AYRO Z is 70% successfully sourced.
- First AYRO Z prototype is currently in fabrication.
- Preparing the factory for AYRO Z manufacturing later in the year.
Challenges Ahead
- Global supply chain challenges.
- Reliance on single third-party supplier in China.
- History of losses and expectation of additional losses in the future.
- Developing market for AYRO’s products may not develop as expected.
- May experience lower-than-anticipated market acceptance of its vehicles.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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