Cenntro Announces Second Quarter 2024 Financial Results
Cenntro Inc. (CENN)
Company Research
Source: Business Wire
FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Inc. (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric commercial vehicle company with advanced, market-validated, and purpose-built vehicles, has reported its financial and operational results for the second quarter ended June 30, 2024.Second Quarter 2024 Financial and Operational Highlights:Second quarter 2024 net revenue of $8.32 million increased 96.4% compared to $4.24 million for the second quarter of 2023.U.S. sales volume increased to $4.9 million in the second quarter of 2024 from $33,000 for the second quarter of 2023.Adjusted EBITDA loss for the second quarter of 2024 of $7.27 million compared to a loss of $12.5 million for the second quarter of 2023.Sold 255 Electric Commercial Vehicles in the second quarter of 2024.Sold 33 Logistar™ 400 Class 4 vehicles in the U.S. market compared to zero in the second quarter of 2023.Sold 53 Avantier™ vehicles in Europe and South American markets in the second quarter of 2024 com
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