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Cenntro Electric | 10-Q: Q3 2024 Earnings Report

Cenntro Electric | 10-Q: Q3 2024 Earnings Report

Cenntro Electric | 10-Q：2024财年三季报
美股SEC公告 ·  2024/11/12 22:40

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Cenntro Electric reported strong financial results for Q3 2024, with net revenues increasing 190.3% to $16.7 million compared to $5.8 million in Q3 2023. Vehicle sales surged to $15.9 million, driven by higher sales volume and improved average selling price from $18,478 to $23,275. The company sold 662 ECVs during the quarter, with significant growth in the US market reaching $10.3 million in revenue.Gross profit improved to $4.0 million with a 24.2% gross margin, up from $0.7 million and 12.4% in Q3 2023. Operating expenses increased to $14.4 million from $13.3 million, primarily due to higher marketing expenses. The company maintained a solid balance sheet with $21.8 million in cash and cash equivalents as of September 30, 2024.The company continues to expand its global presence, with revenues from North America, Europe, and Asia accounting for 67.6%, 21.6%, and 10.6% respectively. Despite the growth, net loss for Q3 was $9.0 million compared to $16.1 million in the prior year period. Management remains focused on operational efficiency and expanding its product lineup while strengthening its position in key markets, particularly in North America.
Cenntro Electric reported strong financial results for Q3 2024, with net revenues increasing 190.3% to $16.7 million compared to $5.8 million in Q3 2023. Vehicle sales surged to $15.9 million, driven by higher sales volume and improved average selling price from $18,478 to $23,275. The company sold 662 ECVs during the quarter, with significant growth in the US market reaching $10.3 million in revenue.Gross profit improved to $4.0 million with a 24.2% gross margin, up from $0.7 million and 12.4% in Q3 2023. Operating expenses increased to $14.4 million from $13.3 million, primarily due to higher marketing expenses. The company maintained a solid balance sheet with $21.8 million in cash and cash equivalents as of September 30, 2024.The company continues to expand its global presence, with revenues from North America, Europe, and Asia accounting for 67.6%, 21.6%, and 10.6% respectively. Despite the growth, net loss for Q3 was $9.0 million compared to $16.1 million in the prior year period. Management remains focused on operational efficiency and expanding its product lineup while strengthening its position in key markets, particularly in North America.
Cenntro Electric在2024年第三季度报告了强劲的财务业绩，净营业收入较2023年第三季度580万美元增长190.3%，达到1670万美元。车辆销售猛增至1590万美元，主要得益于销量的增加和平均售价从18478美元提高至23275美元。公司在本季度售出了662辆电动商业车辆（ECV），美国市场的收入显著增长，达到1030万美元。毛利润改善至400万美元，毛利率为24.2%，而2023年第三季度为70万美元，毛利率为12.4%。营业费用从1330万美元增加至1440万美元，主要是由于市场营销费用增加。到2024年9月30日，公司维持了稳健的资产负债表，现金及现金等价物为2180万...展开全部
Cenntro Electric在2024年第三季度报告了强劲的财务业绩，净营业收入较2023年第三季度580万美元增长190.3%，达到1670万美元。车辆销售猛增至1590万美元，主要得益于销量的增加和平均售价从18478美元提高至23275美元。公司在本季度售出了662辆电动商业车辆（ECV），美国市场的收入显著增长，达到1030万美元。毛利润改善至400万美元，毛利率为24.2%，而2023年第三季度为70万美元，毛利率为12.4%。营业费用从1330万美元增加至1440万美元，主要是由于市场营销费用增加。到2024年9月30日，公司维持了稳健的资产负债表，现金及现金等价物为2180万美元。公司继续扩大其全球货币业务，来自北美、欧洲和亚洲的收入分别占67.6%、21.6%和10.6%。尽管实现了增长，第三季度的净亏损为900万美元，而去年同期为1610万美元。管理层继续关注运营效率，并在强化其在关键市场，特别是北美市场的同时，扩展其产品线。

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