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10-Q: Q2 2024 Earnings Report

10-Q: Q2 2024 Earnings Report

10-Q：2024财年二季报
美股SEC公告 ·  2024/08/19 16:20

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ECD Automotive Design reported Q2 2024 revenue of $8.9 million, up 129% from $3.9 million in Q2 2023, driven by higher average selling prices and increased production efficiency. Gross profit rose 129% to $2.8 million with a steady margin of 31.8%. Vehicle builds represented 90% of revenue at $8.0 million, with warranty and other revenue contributing $0.9 million.Operating expenses increased 116% to $2.7 million due to higher public company costs, including increased staff salaries, insurance, and professional fees. The company recorded interest expense of $1.2 million related to convertible notes. Net loss was $926,069 compared to net income of $36,162 in Q2 2023, primarily due to higher operating costs and interest expenses.The company strengthened its growth initiatives by acquiring Brand New Muscle Car assets for $1.25 million in April 2024 and securing a $1.5 million floor plan financing facility in May 2024. Management expects continued revenue growth through expanded production capacity and new marketing channels, while focusing on operational efficiencies to improve margins.
ECD Automotive Design reported Q2 2024 revenue of $8.9 million, up 129% from $3.9 million in Q2 2023, driven by higher average selling prices and increased production efficiency. Gross profit rose 129% to $2.8 million with a steady margin of 31.8%. Vehicle builds represented 90% of revenue at $8.0 million, with warranty and other revenue contributing $0.9 million.Operating expenses increased 116% to $2.7 million due to higher public company costs, including increased staff salaries, insurance, and professional fees. The company recorded interest expense of $1.2 million related to convertible notes. Net loss was $926,069 compared to net income of $36,162 in Q2 2023, primarily due to higher operating costs and interest expenses.The company strengthened its growth initiatives by acquiring Brand New Muscle Car assets for $1.25 million in April 2024 and securing a $1.5 million floor plan financing facility in May 2024. Management expects continued revenue growth through expanded production capacity and new marketing channels, while focusing on operational efficiencies to improve margins.
ECD汽车设计公司报告2024年第2季度营业收入为890万，比2023年第2季度的390万增长了129%，这得益于平均销售价格的提高和生产效率的提升。 毛利润增长了129%，达到280万，毛利率保持在31.8%。汽车生产占营业收入的90%，为800万，保修及其他收入贡献了90万。由于上市公司成本的增加，包括员工薪资、保险和专业费用，营业费用增长了116%，达到270万。公司记录了与可转换票据相关的利息支出为120万。净损失为926,069美元，而2023年第2季度的净利润为36,162美元，主要由于运营成本和利息支出的增加。公司通过在2024年4月以125万收购全新肌肉车的资产，并在2024年5月获得150万的融资方案，进一步强化了其增长计划。管理层预计通过扩大生产能力和新营销渠道实现持续的营业收入增长，同时专注于运营效率以改善毛利。
ECD汽车设计公司报告2024年第2季度营业收入为890万，比2023年第2季度的390万增长了129%，这得益于平均销售价格的提高和生产效率的提升。 毛利润增长了129%，达到280万，毛利率保持在31.8%。汽车生产占营业收入的90%，为800万，保修及其他收入贡献了90万。由于上市公司成本的增加，包括员工薪资、保险和专业费用，营业费用增长了116%，达到270万。公司记录了与可转换票据相关的利息支出为120万。净损失为926,069美元，而2023年第2季度的净利润为36,162美元，主要由于运营成本和利息支出的增加。公司通过在2024年4月以125万收购全新肌肉车的资产，并在2024年5月获得150万的融资方案，进一步强化了其增长计划。管理层预计通过扩大生产能力和新营销渠道实现持续的营业收入增长，同时专注于运营效率以改善毛利。
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