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10-Q: Q1 2024 Earnings Report

10-Q: Q1 2024 Earnings Report

10-Q：2024财年一季报
美股sec公告 ·  06/27 17:19
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ECD Automotive Design, Inc. (ECD) reported a significant increase in financial performance for the quarter ended March 31, 2024. Net revenue soared by 206.9% to $8.3 million, up from $2.7 million in the same period last year, driven by a rise in the average selling price per vehicle and improved production efficiency. Despite this, the company experienced a net loss of $1.55 million, an increase from the previous year's loss of $1.12 million, attributed to higher operating expenses and interest costs related to a convertible note. Operating expenses rose by 77.2% due to expansion efforts and the transition to public company status. The company's gross profit margin improved significantly, reaching 29.8% compared to 11.2% in the prior year. ECD's cash and cash equivalents stood at $5.56 million, with...Show More
ECD Automotive Design, Inc. (ECD) reported a significant increase in financial performance for the quarter ended March 31, 2024. Net revenue soared by 206.9% to $8.3 million, up from $2.7 million in the same period last year, driven by a rise in the average selling price per vehicle and improved production efficiency. Despite this, the company experienced a net loss of $1.55 million, an increase from the previous year's loss of $1.12 million, attributed to higher operating expenses and interest costs related to a convertible note. Operating expenses rose by 77.2% due to expansion efforts and the transition to public company status. The company's gross profit margin improved significantly, reaching 29.8% compared to 11.2% in the prior year. ECD's cash and cash equivalents stood at $5.56 million, with a working capital deficit due to increases in inventory and deferred revenue. The company's future plans include expanding its product line to include Jaguar E-type vehicles and American Classic muscle cars, expecting to enhance gross margins and production scale. ECD also plans to open new marketing channels and expand into international markets.
ECD Automotive Design公司（ECD）报告称，截至2024年3月31日的季度财务表现大幅提高。营业收入激增206.9%，达到830万美元，上年同期为270万美元，由于车均售价上涨和生产效率提高所推动。尽管如此，该公司经历了155万美元的净亏损，高于去年的112万美元亏损，原因是营业费用和可转换债券利息成本增加。由于拓展业务和转型为上市公司，营业费用增长了77.2%。该公司的毛利率大幅提高，达到29.8%，而上一年则为11.2%。ECD的现金及现金等价物余额为556万美元，由于存货和递延营收增加而导致营运资本缺口。该公司未来计划将产品线扩大到包括捷豹E型车和美国古典肌肉车，并期望提高毛利率和生产规模。ECD还计划开拓新的营销渠道并进军国际市场。
ECD Automotive Design公司（ECD）报告称，截至2024年3月31日的季度财务表现大幅提高。营业收入激增206.9%，达到830万美元，上年同期为270万美元，由于车均售价上涨和生产效率提高所推动。尽管如此，该公司经历了155万美元的净亏损，高于去年的112万美元亏损，原因是营业费用和可转换债券利息成本增加。由于拓展业务和转型为上市公司，营业费用增长了77.2%。该公司的毛利率大幅提高，达到29.8%，而上一年则为11.2%。ECD的现金及现金等价物余额为556万美元，由于存货和递延营收增加而导致营运资本缺口。该公司未来计划将产品线扩大到包括捷豹E型车和美国古典肌肉车，并期望提高毛利率和生产规模。ECD还计划开拓新的营销渠道并进军国际市场。
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