AYRO reports Q2 2023 net loss of $6.0M; cash at $52M after $22M financing

Fabric.AI, Inc.

2023-Q2 EPS reported -$0.31 vs consensus -$19.58 ▲ beat (+98.4%)

Net loss of $6.0M in Q2 2023, unchanged YoY; revenue minimal as first-gen LSEV phased out.
Cash and marketable securities $33M at June 30, plus $22M August financing, total ~$52M.
Vanish LSEV homologation complete; targeting low-rate initial production this fall.
Target production capacity of 2,000 vehicles per year from a single shift operation.
Also advancing Valet and Vapor models with strengthened balance sheet.

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 0.85

Fabric.AI, Inc. reported financial results for the second quarter ended June 30, 2023.

Period: the second quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On August 14, 2023, AYRO, Inc. issued a press release announcing its financial results for the second fiscal quarter ended June 30, 2022.

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Fabric.AI, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-028687

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