Volcon Q1 revenue $1.2M, net loss $7.3M; Stag pre-orders >$113M

Empery Digital Inc.

2023-Q1 EPS reported -$0.30 vs consensus -$484704.00 ▲ beat (+100.0%)

Revenue $1.17M in Q1 2023, up from $0.75M in Q4 2022; net loss $7.3M vs $7.8M in Q4.
Adjusted EBITDA loss $4.4M vs $5.4M; gross margin improved to ($0.06M) from ($1.1M).
143 dealers as of Mar 31 (down 8); targeting 250 by end 2023; Stag pre-orders >$113M potential revenue.
Brazil distributor deal with $12M minimum over 3 years; Grunt EVO and Runt LT launch expected Q2 2023.
Electrameccanica (SOLO) selected for final assembly of Grunt EVO, RUNT, Stag in Mesa, AZ.

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

Empery Digital Inc. reported first quarter of 2023 results: revenue $ 1,170,458, net income $ (7,299,469 ).

Period: first quarter of 2023
Revenue: $ 1,170,458
Net income: $ (7,299,469 )
Result: reported results

Exact text from the filing

Financial highlights: GAAP 3 Months Ended March 31, 2023 December 31, 2022 September 30, 2022 Revenue $ 1,170,458 $ 751,621 $ 242,710 Cost of goods sold (1,229,981 ) (1,862,949 ) (2,012,829 ) Gross Margin (59,523 ) (1,111,328 ) (1,770,119 ) Sales & Marketing 1,789,370 1,751,729 1,282,014 Product Development 1,786,351 1,680,389 2,177,347 General & Administrative 1,890,091 1,637,176 2,085,211 Total Operating Expenses 5,465,812 5,069,294 5,544,572 Loss from Operations (5,525,335 ) (6,180,622 ) (7,314,691 ) Other Income (Expense) (1,774,134 ) (1,616,791 ) (584,493 ) Net loss $ (7,299,469 ) $ (7,797,413 ) $ (7,899,184 )

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Empery Digital Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-002974

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