AYRO FY2022 net loss improves to $22.9M; revenue up 11% to $3M; Vanish launch planned for Q3 2023

Fabric.AI, Inc.

Net loss of ($22.9M) in FY2022 vs. ($33.1M) in FY2021, a $10.2M improvement.
Revenue grew 11% YoY to $3.0M; adjusted EBITDA loss improved to ($18.5M) from ($25.0M).
Cash and marketable securities $48.9M, no debt; cash runway exceeds two years.
New AYRO Vanish LSEV; initial design patent granted; homologation expected June 2023, production sales in Q3 2023.
Authorized dealer program launched; over 50 additional dealers in negotiation in North America.

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 0.9

Fabric.AI, Inc. reported fiscal year ended December 31, 2022 results: revenue $3.0 million, net income ($22.9) million.

Period: fiscal year ended December 31, 2022
Revenue: $3.0 million
Net income: ($22.9) million
Result: reported results

Exact text from the filing

FY2022 Financial Highlights: ● Revenue grew 11% YOY to $3.0 million in 2022 vs. $2.7 million in 2021 ● Net loss improved to ($22.9) million in 2022 vs. net loss of ($33.1) million in 2021

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Fabric.AI, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-008633

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