Cheetah Q2 revenue down 41% to $12.2M; gross margin expands to 10.3%

CHEETAH NET SUPPLY CHAIN SERVICE INC.

Revenue of $12.2M vs $20.8M YoY; vehicle sales fell to 93 from 175.
Gross profit margin expanded 400 bps to 10.3%; average selling price rose 10.4% to $131,430.
Net income of $0.1M ($0.01 EPS) vs $81,805 ($0.01 EPS) in Q2 2022.
First-half 2023 revenue $22.4M, net income $47,812 vs net loss of $0.5M a year ago.
Cash balance $0.6M; operating cash flow $4.1M in H1 2023 vs -$1.7M in H1 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CHEETAH NET SUPPLY CHAIN SERVICE INC. reported for the three and six months ended June 30, 2023 results: revenue $12.2 million, net income $0.1 million, or $0.01 per share, EPS $0.01 per share.

Period: for the three and six months ended June 30, 2023
Revenue: $12.2 million
Net income: $0.1 million, or $0.01 per share
EPS: $0.01 per share
Result: reported results

Exact text from the filing

that ambition was the recent completion of our IPO. We’re just getting started and excited about the future.” Second Quarter 2023 Financial Results Revenue for the quarter was $12.2 million compared to $20.8 million for the second quarter last year, reflecting lower volume partially offset by a higher average selling price per vehicle. During the quarter, Cheetah

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CHEETAH NET SUPPLY CHAIN SERVICE INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-098339

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