Phoenix Motor Q1 2023 revenue up 165% to $1.8M; net loss widens to $2.8M

PHOENIX MOTOR INC.

2023-Q1 EPS reported -$0.13 revenue$1,781,000

Revenue $1.8M (+165.4% YoY); gross profit $0.2M (+44.1% YoY).
Net loss $(2.8)M vs $(2.3)M in Q1 2022.
Gen 4 production starts summer 2023; targeting 20–25 units/month by year-end.
Secured long-term battery supply from CATL for Gen 4 vehicles.
Debuted swappable battery system 'Phoenix Exchange' in May 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PHOENIX MOTOR INC. reported first quarter of 2023 results: revenue $1.8 million, net income net loss was $2.8 million.

Period: first quarter of 2023
Revenue: $1.8 million
Net income: net loss was $2.8 million
Result: reported results

Exact text from the filing

medium-duty vehicles, today reported financial and operational results for the first quarter of 2023. First Quarter 2023 Financial Highlights · Net revenues increased 165.4% to $1.8 million, compared to $0.7 million in Q1 2022, driven by a significant increase in the number of delivered EV units. · Gross profits increased 44.1% to $0.2 million, compared to $0.1

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Source: SEC EDGAR

accession 0001104659-23-062031

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