---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-015856"
form_type: "8-K"
ticker: "FABC"
cik: "0001086745"
company_name: "Fabric.AI, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:02:23.300264+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# AYRO Q1 net loss $5.5M vs $4.6M; Vanish homologation and LRIP start in June

## Summary
- Q1 2023 net loss of $5.5M, up from $4.6M in prior-year quarter; revenue not disclosed (qualitative only).
- Cash and marketable securities total $41.7M with no debt as of March 31, 2023.
- Vanish vehicle entering homologation; Low Rate Initial Production of 50 demo units planned by early June.
- Full-scale production target of 9 units/day (~2,000+ per year); future Valet and Vapor products by year-end.
- CEO states current cash sufficient to reach profitability based on forecast.

## SEC filing metadata
- accession: 0001493152-23-015856
- form_type: 8-K
- ticker: FABC
- cik: 0001086745
- company_name: Fabric.AI, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1086745/000149315223015856/0001493152-23-015856-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1086745/000149315223015856/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-015856
- JSON: https://secwatch.observer/filing/0001493152-23-015856.json
- Plain text: https://secwatch.observer/filing/0001493152-23-015856.txt

## Key facts
- Earnings Releases
  Fabric.AI, Inc. reported first fiscal quarter ended March 31, 2023 results: net income Net loss declined to ($5.5) million in the first quarter of 2023 vs. net loss of ($4.6) million in the prior year period.
  - Period: first fiscal quarter ended March 31, 2023
  - Net income: Net loss declined to ($5.5) million in the first quarter of 2023 vs. net loss of ($4.6) million in the prior year period
  - Result: reported results
  source text: AYRO, Inc. (NASDAQ: AYRO) (“AYRO” or the “Company”), a designer and manufacturer of electric, purpose-built delivery vehicles and solutions for micro distribution, micro-mobility, and last-mile delivery, announces financial results for the quarter ended March 31, 2023. Recent Financial and Corporate Highlights: ● Net loss declined to ($5.5) million in the first quarter of 2023 vs. net loss of ($4.6) million in the prior year period
  evidence_url: https://www.sec.gov/Archives/edgar/data/1086745/000149315223015856/0001493152-23-015856-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.