18.5 C
New York
Monday, September 20, 2021

Ideanomics (NASDAQ: IDEX) Announces Financial Results For 2020, After A Changed Business Model.

Ideanomics (NASDAQ: IDEX) deals with international facilitation of Electric vehicles and specializes in developing various next generation Fin-tech products, reports its full year operating results in 2020. Revenue for 2020 was a staggering $26.8 million with a substantial quarter after quarter increment. Revenue generated from solely electric vehicles in 2020 closed at $19.5 million against $2.7 million in 2019, a whopping increase of more then 600% or $16.8M.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


2019 Net revenues produced $44.6 million, due to a contractual agreement of a Media Asset management service which produced an incredible amount of $40.7M, yet failed to produce any capital in year 2020. Gross profit produced in 2020 was $2.1M due to an extremely low margin of 7.7%, keeping in mind the competitive nature of the business however Gross profit in 2019 was a staggering $43.1M as the gross margin increased to 100%  

Ideanomics (IDEX) Acquires 20% equity In Italian Electric Motorcycle Company, Energica Motor Company

IDEX has also acquired a 20% stake in Energica motors, which plays a leading role in the lucrative market of high performance electric bikes. The $13.2M deal further diversifies IDEX’s electric vehicle portfolio and helps their aim to commercialize electric vehicles under their business model.

Energica Motor Company is one of the global leaders in producing high performance electric motorcycles and the only company responsible for assembling bikes at the FIM Enel MotoE™ World Cup. Energica motorcycles presently sell via their distribution network and importer.

Conclusion

IDEX has been a pioneer for electric vehicle awareness and is keen on its mission for expansion. Furthermore, considerable equity in Energica Motor company has further diversified their Electric vehicle portfolio and has given them competitive advantage over their peers, making them a serious contender in the EV world.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.