AYRO Q1 revenue record $1.03M, net loss down 41% sequentially to $4.6M

Fabric.AI, Inc.

Revenue of $1.03M, a record, up 30% YoY and 26% sequentially.
Net loss $4.6M vs $7.8M in Q4 2021 ($3.2M sequential improvement).
Adjusted EBITDA loss ($4.2M) vs ($7.1M) in Q4 2021.
Cash and marketable securities $63.5M, no debt.
AYRO Z development on track for year-end 2022 launch; first prototype in fabrication.

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