EZGO ANNOUNCES FINANCIAL RESULTS FOR THE SIX MONTHS ENDED MARCH 31, 2024
EZGO Technologies Ltd. - Ordinary Shares (EZGO)
Company Research
Source: PR Newswire
CHANGZHOU, China, Sept. 9, 2024 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq: EZGO) ("EZGO" or "we", "our", or the "Company"), a leading short-distance transportation solutions provider in China, today announced its unaudited financial results for the six months ended March 31, 2024.Financial Highlights (all results compared to the prior fiscal year period unless otherwise noted)Revenues were $8.6 million, an increase of 66.1%Units sold of e-bicycle reached 4,766, a decrease of 76.7%Units sold of batteries and battery packs reached 243,336, an increase of 2614.6%Gross margin was 5.7%, compared with 3.5%Net loss was $4.7 million, compared with $5.0 millionThe Company has cash and cash equivalents of approximately $0.7 million at March 31, 2024, compared to approximately $17.3 million at September 30, 2023Management CommentaryDuring the six months ending on March 31, 2024, due to the continuous decline in upstream raw materials price of lithium batteries, the penetration rate of lithi
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