Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles (“EVs”) and associated energy consumption, has reported its full-year 2020 revenues and operational milestones for the year ended Dec. 31, 2020. Highlights of the report indicate that the company’s revenues for the year totaled $26.8 million, resulting in sufficient resources to support IDEX’s strategic long-term growth plan. The report also noted Ideanomics’s continued strength and consistent performance in the EV industry as the company’s Sales 2 Financing 2 Charging (“S2F2C”) business model gains traction in the electric vehicle sector. The financial report also indicated that gross profit for 2020 for the company was $2.1 million. According to the announcement, 2020 revenues include the company’s first sales of charging & battery systems, a part of the EV ecosystem that is key to Ideanomics’ S2F2C business model. The company held a conference call to discuss its financial report; IDEX executive team members hosted the call, including CEO Alf Poor, CFO Conor McCarthy and SVP of investor relations Tony Sklar. A replay of the earnings call will be available after the conclusion of the event. “We are very pleased with the transformation that took place this past year,” said Ideanomics CEO Alf Poor in the press release. “Despite a year highlighted by COVID-19, we were able to build the groundwork for 2021 and beyond for Ideanomics, and we are excited for what the future holds with our recent activity across the EV ecosystem and developments in EV charging infrastructure.”
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About Ideanomics
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The company’s Mobile Energy Global (“MEG”) division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy-management solutions under its innovative sales to financing to charging (“S2F2C”) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital provide the company’s global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and provides IDEX shareholders with the opportunity to participate in high-potential, growth industries. Ideanomics is headquartered in New York, NY, with offices in Beijing, Hangzhou and Qingdao and operations in the U.S., China, Ukraine, and Malaysia. For more information, visit www.Ideanomics.com.
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX
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