Ideanomics (NASDAQ: IDEX) recently released its Q1 2021 financials for the three months ending March 31, 2021. The company reported $32.7 million in Q1 2021 revenue, up from $378,000 in Q1 2020. Its gross profits also grew severalfold to $10.8 million in Q1 2021, up from $44,000 in Q1 2020. According to an article discussing these impressive results, “This robust growth demonstrates the vitality of Ideanomics’ business, as well as its ability to bounce back.” The U.S. market accounted for 90.6% of the total revenue, followed by China with a 9.3% contribution and Malaysia with $7,000. In terms of revenues from products and services, Timios, Ideanomics’ subsidiary, accounted for 84.4%, followed by WAVE with a 5.7% contribution. In the press statement accompanying the results announcement, CEO Alf Poor said, “I am both pleased and proud to say that, as it 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 Inc.
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The Ideanomics 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, Ideanomics Mobility and Ideanomics Capital provide global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and shareholders with the opportunity to participate in high-potential, growth industries. For more information, visit www.Ideanomics.com.
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