secwatch.observer — SEC 8-K summary
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Issuer:     Fabric.AI, Inc. (FABC)
CIK:        0001086745
Form:       8-K
Filed at:   2022-08-11T23:59:59+00:00
Accession:  0001493152-22-021967
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1086745/000149315222021967/0001493152-22-021967-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1086745/000149315222021967/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-021967

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer