Senmiao Technology reports FY2022 revenue up 124.5% to $4.9M, net loss narrows to $5.6M

Senmiao Technology Ltd

2024-Q1 EPS reported $0.05 revenue$2,341,796

Total revenues from continuing operations $4.9M, up 124.5% YoY; net loss improved to $5.6M from $7.5M.
Gross loss from continuing ops of $1.6M vs. gross profit of $0.2M prior year due to expansion costs.
Operating lease revenues surged to $1.7M from $0.2M; online ride-hailing platform revenues up 195% to $2.7M.
Cash and cash equivalents fell to $1.2M from $4.3M; stockholders' equity rose to $8.1M from $5.9M.
Since platform launch, 20M rides completed; leased over 2,300 vehicles in FY2022, up from 1,200.

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