Forza X1 Q1 2024: Cash down to $9.95M; no revenue/EPS disclosed

Forza X1, Inc.

2024-Q1 EPS reported -$0.07

Cash and equivalents $9.95M vs $12.80M at Dec 31, 2023 – burn of ~$2.85M in Q1.
Company reports reduced cash burn via lower SG&A and R&D spending.
No revenue or net income figures provided; filing lacks standard financial data.
Management cites deceleration in recreational marine EV demand and slower EV adoption.
Implementing capital expenditure cuts, workforce optimization, and expense management.

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

Forza X1, Inc. reported financial results for three months ended March 31, 2024.

Period: three months ended March 31, 2024
Result: reported results

Exact text from the filing

issued a press release announcing its financial results for the quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0001731122-24-000806

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