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$IDEX $32.7 M Revenues in Q1 2021
- Revenue for the quarter ended March 31, 2021, was $32.7 million and gross profit of $10.8 million
- First revenues from WAVE - Ideanomics' inductive charging business and from Timios, our Title and escrow services company - both businesses were acquired in January 2021
- $356 million cash at quarter end providing a deep pool of capital for investment in our Ideanomics Mobility & Capital business units
Selected Business Updates and Highlights
Acquired Wireless Charging Provider WAVE
Acquired title & escrow services company Timios
Announced Sponsorship in NACFE and membership in CALSTART
Timios Expands retail purchasing business
Solectrac expands Tractor reservation campaign
Invests in Italian Electric Motorcycle Company Energica
Timios generates record high revenue for the quarter
Bolstered Cash position to $356 million as of March 31, 2021
https://investors.ideanomics.com/2021-05-17-Ideanomics,-Inc-Reports-Q1-2021-Financial-Results
the stock is trading up before Q1 results today and appears that the market expects the results will be good ..... $IDEX
Stocks up pre Q1 and some expect good results from management
.... was up 5 +% premarket has a 2021 Q1 earnings report today with a conference call at 4:30 PM eastern.
$IDEX
Good day everyone, this stock was up 5 +% premarket has a 2021 Q1 earnings report today with a conference call at 4:30 PM eastern.
Good day everyone, this stock was up 5 +% premarket has a 2021 Q1 earnings report today with a conference call at 4:30 PM eastern.
$IDEX
shares trade up with 2021 Q1 earnings report today with a conference call at 4:30 PM eastern.
$IDEX
.... up 5 +% premarket with 2021 Q1 earnings report today with a conference call at 4:30 PM eastern..... $IDEX
Good day everyone, stock is up 5 +% premarket with 2021 Q1 earnings report today with a conference call at 4:30 PM eastern.
$IDEX
$IDEX up 5+% premarket with 2021 Q1 earnings report today with a conference call at 4:30 PM eastern.
$IDEX up 5+% premarket with 2021 Q1 earnings report today with a conference call at 4:30 PM eastern.
$IDEX – 2021 Q1 earnings report today with a conference call at 4:30 PM eastern.
Ideanomics Acquires US Hybrid a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
This is the second major fuel cell player that entered the "mobility" market in a month the first was the PLUG partnership with BAE Systems / Lightening Motors/Amazon deal.
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
https://ushybrid.com/
A second major fuel cell player enters the "mobility" market in a month, the first was the PLUG partnership with BAE Systems / Lightening Motors / Amazon deal.
$IDEX Acquires US Hybrid a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
https://ushybrid.com/
Ideanomics Inc (NASDAQ: IDEX) announced it signed a definitive agreement to buy 100% of privately held US Hybrid in cash and stock consideration. The deal to buy US Hybrid brings to Ideanomics the application of US-built technology, for use in its own vehicles, and significantly extends the company’s capabilities in zero-emission transportation. Going forward, US Hybrid will continue to service its existing customer base and Ideanomics will assist them in scaling their business operations within the Ideanomics Mobility business operation.
Ideanomics Acquires US Hybrid a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
https://ushybrid.com/
this is the second major fuel cell player enters the "mobility" market in a month the first was the PLUG Power partnership with BAE Systems / Lightening Motors/Amazon deal.
Ideanomics Inc (NASDAQ: IDEX) announced it signed a definitive agreement to buy 100% of privately held US Hybrid in cash and stock consideration. The deal to buy US Hybrid brings to Ideanomics the application of US-built technology, for use in its own vehicles, and significantly extends the company’s capabilities in zero-emission transportation. Going forward, US Hybrid will continue to service its existing customer base and Ideanomics will assist them in scaling their business operations within the Ideanomics Mobility business operation.
Ideanomics Acquires US Hybrid a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
https://ushybrid.com/
A second major fuel cell player enters the "mobility" market in a month , first was the PLUG partnership with BAE Systems / Lightening Motors / Amazon deal.
Yesterday,
Ideanomics (Nasdaq-IDEX) Acquires US Hybrid a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
https://ushybrid.com/
fyi, A second major fuel cell player enters the "mobility" market in a month
first was the PLUG partnership with BAE Systems / Lightening Motors/Amazon deal.
Yesterday,
Ideanomics to Acquire US Hybrid a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
https://ushybrid.com/
Good day, fyi, A second major fuel cell player enters the "mobility" market in a month
first was the PLUG partnership with BAE Systems / Lightening Motors/Amazon deal.
Yesterday,
Ideanomics to Acquire US Hybrid a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
https://ushybrid.com/
NEWS - $IDEX - Ideanomics to Acquire US Hybrid a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
https://ushybrid.com/
NEWS - $IDEX - Ideanomics to Acquire US Hybrid a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
https://ushybrid.com/
Thanks appears then there will be more H2FC activities coming into the EV market with Ballard, Plug & Ideanomics all looking for market share.
Good day everyone .. I saw this news come out and thought wait a minute isn't this a lot like Ballard Power Systems ? .... to Acquire “Hybrid” a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
https://ushybrid.com/
Thanks Spot good news imo, Hybrid is a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
Adds more value too.
https://ushybrid.com/
Earnings Date: May 17, 2021.
Roth Capital Partners’ Buy Rating and Price Target of $7
https://www.marketbeat.com/stocks/NASDAQ/IDEX/price-target/
NEWS - $IDEX - Ideanomics To Acquire “Hybrid” a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
Earnings Date: May 17, 2021.
Roth Capital Partners’ Buy Rating and Price Target of $7
https://www.marketbeat.com/stocks/NASDAQ/IDEX/price-target/
NEWS - $IDEX - Ideanomics To Acquire “Hybrid” a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
Earnings Date: May 17, 2021.
Roth Capital Partners’ Buy Rating and Price Target of $7
https://www.marketbeat.com/stocks/NASDAQ/IDEX/price-target/
NEWS - $IDEX - Ideanomics To Acquire “Hybrid” a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
NEWS $IDEX -- Ideanomics To Acquire “Hybrid” a California Based Manufacturer of Zero Emission Powertrain Components for Electric, Hybrid, and Fuel Cell Vehicles
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
$IDEX NEWS - Ideanomics Signs a Definitive Agreement to Acquire California-based US Hybrid
- Founded in 1999, US Hybrid has pioneered clean transportation technologies for more than 20 years
- It offers proven zero-emission powertrain components for electric, hybrid and fuel cell applications
- Has fully operational Fuel Cell Engines for both mobile and stationary use at the 10kw, 50kw, and 100kw power levels
- CEO Dr. Gordon Abas Goodarzi, PhD, PE is a 30-year veteran of BEV, FCe, and Hybrid industries and will become Chief Scientist for Ideanomics
NEW YORK, May 13, 2021 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") is pleased to announce it has signed a definitive agreement to acquire 100% of privately held US Hybrid in cash and stock consideration, the material terms of which are disclosed in the Company's related 8-K filing. The acquisition is subject to customary closing conditions.
The acquisition of US Hybrid brings to Ideanomics the application of US-built technology, for use in its own vehicles, and significantly extends the company's capabilities in zero-emission transportation. US Hybrid will continue to service its existing customer base, and Ideanomics will assist them in scaling their business operations within the Ideanomics Mobility business division. US Hybrid operates from locations in California, Connecticut, and Massachusetts.
Founded in 1999, and headquartered in Torrance, California, US Hybrid has been providing innovative solutions including components, drive trains, and fuel cells to medium and heavy-duty commercial fleet operators. US Hybrid designs, manufactures, and markets integrated power conversion systems for battery electric, fuel cell, and hybrid vehicles, as well as systems for renewable energy generation and storage. The company has been leading the clean-tech revolution by offering integrated power conversion components and integrated motor drives, motors and controllers, distributed energy management systems, and DC-DC boost converters - equipment that is vital to the growth of the broader EV industry. In addition to its relationships with leading OEMs, US Hybrid has delivered projects for the private and public sectors, including the defense industry and governmental customers.
US Hybrid has reliably demonstrated proven powertrain technology, along with DC-DC converters which possess high efficiency ratings and fast dynamic response capabilities. US Hybrid enjoys long-term commercial relationships in various industries including Commercial, Defense & Aerospace, and Transit/Municipal for its BEV, FCe, and Hybrid platforms.
"The acquisition of US Hybrid is a significant one for our EV efforts across the Ideanomics Mobility division and is the stepping-stone we were looking for to ensure we provide vehicles and technologies that can proudly allow us to state the meaningful components are Made in America. We are excited to bring Dr. Goodarzi and team into the Ideanomics family, they have been exceptional to work with throughout our discussions, and we look forward to helping them develop their business further. We will be bringing their technologies and capabilities into our own vehicles, as well as helping the broader industry leverage the outstanding technology the US Hybrid team has developed in Hybrid, EV, and Hydrogen fuel cells," said Alf Poor, Ideanomics CEO. "With decades of experience and credibility from deployments with reputable customers, US Hybrid will become an innovation engine for Ideanomics and provide strategic opportunities for clean technology applications across the zero emissions transportation value chain, both now and in the future."
"We are excited to be joining the Ideanomics family, as a synergistic addition to the Ideanomics ecosystem of EV businesses. Ideanomics' global platform will provide us with the opportunity to unlock the commercialization and sales potential of our American-made zero-emission products within Ideanomics and our broad customer base. This combination of our businesses provides for a bright future in zero emission transportation, where we continue to innovate for the future, while scaling our commercial products to meet the immediate demands of the industry," said Dr. Gordon Abas Goodarzi, PhD, PE, CEO of US Hybrid.
About US Hybrid.
US Hybrid specializes in the design and manufacturing of zero emission powertrain components for electric, hybrid, and fuel cell medium and heavy-duty municipality vehicles, commercial trucks, buses, and specialty vehicles throughout the world. Established in 1999, US Hybrid began with a cadre of knowledgeable engineers and management with decades of experience in electric and hybrid powertrain and energy storage systems. US Hybrid has been developing and deploying electric, hybrid, and fuel cell vehicles for decades, as well as designing, developing and manufacturing electric powertrain and fuel cell engines for medium and heavy-duty fuel cell commercial buses and truck OEMs. US Hybrid powertrain components are designed for the MD/HD clean transportation industry, providing zero emission powertrain solutions to our customers and partners globally.
About Ideanomics
Ideanomics is a catalyst for disruption to those industries where improvements in sustainability, transparency, and freedom of choice would have profound benefits on a global scale. The Ideanomics Mobility division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility & Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.
The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.
https://investors.ideanomics.com/2021-05-13-Ideanomics-Signs-a-Definitive-Agreement-to-Acquire-California-based-US-Hybrid
Yes $IDEX holds nicely before Q1
fyi,
Roth Capital Partners analyst Craig Irwin initiated coverage on of Ideanomics with a “Buy” rating, saying IDEX should deliver 4x revenue growth in 2021.
Ideanomics has two business units in commercial electric vehicles and fintech, with its e-Mobility Group currently comprised of six businesses and Ideanomics Capital comprised of five businesses.
Irwin thinks there’s more upside to come and has started off IDEX with a $7.00 price target.
Calling Ideanomics a disruptive technology company, Irwin highlighted management’s take on working with a range of companies within the one portfolio.
“Ideanomics’ portfolio approach unites entrepreneurs at solid but early-stage companies with a capable team to gain synergies by cross-company sharing of resources. We believe this approach allows more effective business development, procurement leverage, internal sourcing versus expensive outsourcing, and technology solutions supplemented by efforts at other sister businesses. Examples include the incorporation of WAVE inductive charging solutions in Medici commercial electric vehicles slated for launch this year as well as the cross-portfolio procurement of battery packs,” Irwin said.
All told, the acquisitive Ideanomics has made 11 acquisitions and investments along with four divestitures over the past three years, with the more recent acquisitions predominantly coming to its eMobility ecosystem.
In E-Mobility, Ideanomics has assets in electric vehicle manufacturing companies Medici, Tree Technologies, Solectrac and Energica, in EV charging technology with WAVE and in commercial electric vehicle financing in the Mobility Energy Group.
In January, IDEX announced an agreement to acquire 100 per cent of WAVE (Wireless Advanced Vehicle Electrification), a Salt Lake City-based provider of inductive charging solutions for medium and heavy-duty electric vehicles.
Irwin thinks WAVE will hit revenue of $5 million this year, growing to about $85 million by 2025 on the delivery of 250 of its charging units that year.
“We see WAVE gaining increasing traction based on the support for higher fleet utilization, the safety profile of the product, and simplicity of operation, while customers say charging costs and energy efficiency are similar to the alternative pantograph and plug-in solutions,” Irwin said.
On Medici Motor Works, the company is currently developing a line of three all-electric trucks and three all-electric buses in partnership with China-based manufacturers, with first vehicles expected to be on sale in North America later this year.
IDEX also has a 22-per-cent equity stake in Northern California-based electric tractor company Solectrac; a 20-per-cent stake in Italian electric motorcycle manufacturer Energica, which has three consumer-focused road motorcycles and proprietary EV battery and DC fast-charging systems; and a $15-million investment through a six-per-cent promissory note in Italian engineering and design services company Silk EV, through which IDEX hopes to gain insights into tech advances in the EV market related to batteries, power management systems and high-performance motors.
Ideanomics Capital includes real estate transactions company Timios, a 98.4-per-cent stake in the Delaware Board of Trade, a ten-per-cent ownership of blockchain tech company Liquefy, a 15-per-cent stake in Technology Metals Market and a 60-per-cent joint venture equity ownership in financial services company Intelligenta.
By the numbers, Irwin is calling for revenue of $105 million and $145 million in 2021 and 2022, respectively, rising to $500 million by 2025, with EPS going from negative $0.11 per share and negative $0.05 per share in 2021 and 2022, respectively, and reaching $0.25 per share in 2025. Adjusted EBITDA is expected to be positive by 2023. (All figures in US dollars.)
https://ideanomics.com/mobility/
Yes and Q1 is Monday, what do you think the revenues will be like ?
Yes agreed $2.80 fro $IDEX .. fyi from Craig Irwin Analyst at Roth Capital
"revenue of $105 million and $145 million in 2021 and 2022, respectively, rising to $500 million by 2025, with EPS going from negative $0.11 per share and negative $0.05 per share in 2021 and 2022, respectively, and reaching $0.25 per share in 2025. Adjusted EBITDA is expected to be positive by 2023."
Roth’s list of analyst coverage of EV companies:
Tesla, Inc., Workhorse Group, Inc., Plug Power Inc., Blink Charging Co., Canoo, Inc., Beam Global, Blue Bird Corporation, Ballard Power Systems, Inc., ChargePoint Holdings, Inc., Flux Power Holdings, Inc., Arcimoto, Inc., GreenPower Motor Company Inc., and Electra Meccanica Vehicles Corp.
https://www.marketbeat.com/stocks/NASDAQ/IDEX/price-target/
Q1 Earnings Date: May 17, 2021
$IDEX
Roth Capital Partners’ Buy Rating and Price Target of $7
https://www.marketbeat.com/stocks/NASDAQ/IDEX/price-target/
Q1 Earnings Date: May 17, 2021
$IDEX
Roth Capital Partners’ Buy Rating and Price Target of $7
https://www.marketbeat.com/stocks/NASDAQ/IDEX/price-target/
$IDEX - Wall Street's Goldman Sachs Innovate Equity ETF Owns 182,649 shares of Ideanomics. (What do they know that we don't?)
#investing #stocks #wallstreet #investments
https://fintel.io/so/us/idex?fbclid=IwAR0OGU1OHczPOx_Z1C2R-rhQN8-2Xmumj0_Fi2ipPm7CoN_WJgO9OtFoPBI
$IDEX - Wall Street's Goldman Sachs Innovate Equity ETF Owns 182,649 shares of Ideanomics. (What do they know that we don't?)
#investing #stocks #wallstreet #investments
https://fintel.io/so/us/idex?fbclid=IwAR0OGU1OHczPOx_Z1C2R-rhQN8-2Xmumj0_Fi2ipPm7CoN_WJgO9OtFoPBI
Yes Augusta, I do recall $IDEX at $2.23, and I too am at a loss at $3.
Watch for Monday Q1 and I think we will see good report on revenue growth.
Wall Street's Goldman Sachs Innovate Equity ETF Owns 182,649 shares of Ideanomics.
(What do they know that we don't?)
https://fintel.io/so/us/idex?fbclid=IwAR0OGU1OHczPOx_Z1C2R-rhQN8-2Xmumj0_Fi2ipPm7CoN_WJgO9OtFoPBI
Thanks Augusta, Yes agreed, the bottom ? maybe we saw it today at 2.24 I thought we'd see $2 as premarket was selling down.
We could see IDEX under $2 but not likely imo
..... "The way small cap stocks are acting and DOw Jones dropping" ....
Hopefully the macro market jitters are temporary and it settles ...
If there was IDEX catalyst before Q1 we could see $3 + again
Q1 Comes on Monday .... Wall Street is holding and more institutions are holding or buying ....
$IDEX - Wall Street's Goldman Sachs Innovate Equity ETF Owns 182,649 shares of Ideanomics. (What do they know that we don't?)
https://fintel.io/so/us/idex?fbclid=IwAR0OGU1OHczPOx_Z1C2R-rhQN8-2Xmumj0_Fi2ipPm7CoN_WJgO9OtFoPBI