AYRO Q2 revenue up 88% to $982K; net loss improves to $6.0M; defective Cenntro parts hit COGS

Fabric.AI, Inc.

2023-Q2 EPS reported -$0.29 vs consensus -$19.58 ▲ beat (+98.5%)

Revenue ~$982K, +88% YoY; net loss ($6.0M) vs ($7.7M) YoY; adjusted EBITDA loss ($4.2M) vs ($5.9M).
Cash and marketable securities $58.9M, zero debt.
Recognized full cost of defective Cenntro components in Q2, rendering Club Car Current sales difficult; seeking credit.
AYRO Z development on budget, prototype unveil planned by year-end; supply chain 92% sourced, 85% North America.
Expect GSA schedule listing by year-end to access federal government sales.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.