Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, has reported its financial numbers for Q1 2021. Included in the report was revenue of $32.7 million, which represents the fifth consecutive quarter of growth, and gross profit of $10.8 million for the period ended March 21, 2021. The company noted that the first-quarter numbers included first revenues from its two January 2021 acquisitions: WAVE, an inductive-charging business, and Timios, a title and escrow services company. Corporate highlights for the quarter included the company’s acquisition of WAVE and Timios, as well as its announced sponsorship in NACFE and membership in CALSTART. The company also noted that Timios generated record-high revenue for the quarter as it expanded its retail purchasing business. The company reported that it ended the quarter with $356 million cash, which provides a deep pool of capital for continued investment in its mobility and capital business units. “Ideanomics is transforming dramatically quarter over quarter,” said Ideanomics CEO Alf Poor in the press release. “I am both pleased and proud to say that as is stands today the company is the healthiest it has been in close to three years that I have been on board.”
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About Ideanomics
Ideanomics is a catalyst for disruption to those industries where improvements in sustainability, transparency and freedom of choice would have profound benefits on a global scale. The company’s Mobility division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy-management solutions under an innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, the Mobility & Capital divisions provide Ideanomics’ global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and its shareholders with the opportunity to participate in high-potential growth industries. The company is headquartered in New York City with operations in the United States, China, Ukraine and Malaysia . 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://nnw.fm/IDEX
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