ECARX Announces Third Quarter 2024 Unaudited Financial Results
ECARX Holdings Inc. (ECX)
Company Research
Source: GlobeNewswire
SHANGHAI, Nov. 07, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (Nasdaq: ECX) (“ECARX” or the “Company”), a global mobility tech provider, today announced unaudited financial results for the quarter ended September 30, 2024. Ziyu Shen, ECARX Chairman and CEO, commented, “The solid growth momentum we picked up in the first half of the year continued into the third quarter with the market continuing to yield significant opportunities for us despite global headwinds. Revenue increased by 31% year-over-year, with 442,000 vehicles incorporating ECARX technology hitting the road this quarter alone, underscoring our unique positioning to drive growth in China and overseas, regardless of market cycle. Our evolving product portfolio, diverse customer base, and global partnerships and operations are key factors that enable us to capitalize on these opportunities.” “Competition remains fierce with ongoing pricing pressures, which caused gross margins to fall to 17% during the quarter. We
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ECX
Sec Filings
- 11/18/24 - Form 6-K
- 11/7/24 - Form 6-K
- 9/30/24 - Form 6-K
- ECX's page on the SEC website