Senmiao Tech Q1 FY2022 revenue $1.9M (+61% YoY); net loss widens to $7.4M

Senmiao Technology Ltd

Revenue $1.9M, up 61% YoY; net loss from continuing ops $7.4M vs $2.3M loss prior year.
Loss per share $0.12 on 52.7M shares vs $0.07 on 29.0M shares prior year.
Gross loss $1.9M vs gross profit $0.3M prior year, due to shift to operating leases and platform launch costs.
Operating lease revenues drove growth; 10.5M rides completed since platform launch (Oct 2020) through June 2021.
Cash $4.0M at June 30, 2021, down from $4.4M at March 31, 2021; working capital deficit noted.

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