Ideanomics, Inc. - Common Stock (IDEX)

Ideanomics (NASDAQIDEX), a global company focused on accelerating the commercial adoption of electric vehicles, is reporting its fourth-quarter and full-year 2023 financial numbers, for the period ended Dec. 31, 2023. Notable numbers from the report show revenue for the full year totaling $15.5 million, down an estimated 18.7% from 2022, with gross profit for the full year reported at negative $2.7 million, compared to negative $3.4 million for 2022. Highlights from the report show that Energica Inside, a majority-owned subsidiary of Ideanomics, announced key partnerships to develop all-electric solutions for aviation, marine and off-road uses; Energica electric motorcycles were also selected by police services in France and Barbados for police fleets. In addition, the report showed that Ideanomics charging solutions business, WAVE, has completed an industry-first, OEM-approved installation of wireless charging and is continuing initial projects with several major logistics fleet customers. Members from Ideanomics management team, including CEO Alf Poor and CFO Ryan Jenkins, have recorded an earnings conference call outlining key information from the financial report. “Throughout 2023, Ideanomics continued executing its commitment to shareholders to exit noncore businesses and finalize a reorganization of the business to focus on last-mile and local delivery vehicles and associated charging products,” the company stated in the press release.

Ideanomics (NASDAQIDEX), a global company focused on accelerating the commercial adoption of electric vehicles, and a majority-owned subsidiary of Ideanomics, Energica Motor Company, have announced a research-and-development partnership with Electra Vehicles Inc. According to the announcement, the R&D collaboration is focused on revolutionizing the electric two-wheeler market. A leader in high-performing electric motorcycles and EV system integration, Energica Motor will utilize Electra’s Brain for Batteriesartificial intelligence (“AI”)-powered technology to enhance battery performance and optimize vehicle range, charging and lifetime as well as improving the overall driving experience. “We met Electra and were immediately interested in their AI solutions related to batteries, a crucial element on which we have based our know-how from the beginning,” said Energica Motor Company CTO Giampiero Testoni in the press release. “Together with their team, we have started a research and development collaboration [to] apply AI to the [battery management systems] (‘BMS’) of our batteries. The objective is to better monitor the data and optimize the range. The studies are still underway, but we are thrilled to be able to work together with a dynamic company like Electra.”

MODENA, Italy / Boston, MA, May 23, 2024 (GLOBE NEWSWIRE) -- Energica Motor Company, (a majority-owned subsidiary of Ideanomics (NASDAQIDEX) a leader in high-performance electric motorcycles and EV system integration, and Electra, an industry leader in applied AI-ML for battery management software solutions, are excited to announce a strategic R&D partnership to revolutionize the electric two-wheeler market. 

This corrects and replaces the release that was issued on November 24, 2023.

Energica Motor Company (a majority-owned subsidiary of Ideanomics (NASDAQIDEX)) leader in high-performing electric motorcycles and EV system integration, and Electra Vehicles Inc., an industry leader in applied AI-ML for battery management software solutions, are excited to announce a strategic R&D partnership to revolutionize the electric two-wheeler market.

Ideanomics (NASDAQIDEX) is a global group focused on accelerating the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation, and financial services, the company provides the completeness of solutions needed for the commercial world to commit to an EV future.

Ideanomics' Electric Tractor Subsidiary Will Leverage Success To Date In Its Direct-To-Customer Business By Expanding The DTC Strategy and Partnering with a Curated Dealer Network in Key Markets

Ideanomics (NASDAQIDEX), a global company focused on accelerating the commercial adoption of electric vehicles, has scheduled a conference call/webinar to spotlight its fourth-quarter and full-year 2023 financial results. The company announced that members of its senior management team will host the call, which is slated for April 1, 2024, at 4:30 p.m. ET. Those interested in accessing the call can dial +1-253-205-0468, then use meeting ID 9383222914. The event will include an overview and discussion of the financial results as well as a Q&A session. A replay of the call will be available on the company’s website after the event.

New York, March 25, 2024 (GLOBE NEWSWIRE) -- NEW YORK, March 25, 2024 - Ideanomics (NASDAQIDEX) ("Ideanomics" or the "Company") announces that the conference call to discuss its fourth quarter and full year 2023 financial results on Monday, April 1, 2024, at 4:30pm ET.  

WAVE Charging, a wholly owned subsidiary of Ideanomics (NASDAQIDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles, today announced the appointment of Macy Neshati as its general manager. In the new role, Neshati will oversee operations and drive the expansion of WAVE Charging’s current customer base, including the two confidential commercial fleet customers previously disclosed. “Macy’s proven track record of driving innovation and growth within the clean energy and transportation sectors makes him the ideal candidate to lead WAVE Charging,” Ideanomics CEO Alf Poor said of the appointment. “His strategic vision and deep industry knowledge will be invaluable assets as we continue to revolutionize the commercial vehicle charging landscape.”

Energica Inside, the business unit of Energica Motor Company and a majority owned subsidiary of Ideanomics (NASDAQIDEX) , is dedicated to developing innovative solutions for e-mobility leveraging Energica’s unique technical know-how and IP. The company today announced its entry into an agreement to provide technology to help electrify the historic Nimbus Model C motorcycle. Having been produced by Fisker and Nielsen of Copenhagen, Denmark, from 1919 to 1960, Nimbus has successfully achieved near-legendary status in Denmark and around the world due to its iconic design and character. Under the agreement, Energica Inside will support Nimbus’s release of the classic Model C as an electric motorcycle. “Energica Inside is ready to assist Nimbus in achieving their climate goals and electrifying their product,” said Carlo lacovini, general manager of Energica Inside. “Our solutions leverage Energica’s industry-leading EV design, engineering and technology, providing a customized and proven solution for Nimbus.”

Modena, Italy, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Energica Inside, the business unit of Energica Motor Company (a majority-owned subsidiary of Ideanomics (NASDAQIDEX)) dedicated to developing innovative solutions for e-mobility leveraging Energica’s unique technical know-how and IP, has signed an agreement to provide technology to help electrify the historic Nimbus Model C motorcycle. 

WAVE Charging, a wholly owned subsidiary of Ideanomics (NASDAQIDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles, today announced a groundbreaking achievement in the commercial EV industry. According to the announcement, the company has successfully integrated its high-power wireless charging technology into Kenworth’s Class 6 electric trucks, specifically the K270E and K370E models, marking the first OEM-approved high-power wireless charging integration of its kind. “Our collaboration with Kenworth, Dana and Inland Kenworth represents a significant leap forward in the commercial EV landscape,” said Robin Mackie, chief operating officer of Ideanomics, WAVE Charging’s parent company. “Being the first to receive OEM approval for high-power wireless charging integration is a testament to WAVE Charging’s dedication to driving innovation. This achievement not only solidifies our position as market leaders but also sets a new standard for the industry. We are excited about the possibilities this opens up for OEMs, dealers and logistics companies seeking cutting-edge solutions.”

WAVE Charging, a wholly owned subsidiary of Ideanomics (NASDAQIDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles, has announced the receipt of a purchase order for a new commercial proof-of-concept project with a major retail and logistics company in the United States. After six months of dedicated efforts, WAVE is set to embark on this groundbreaking collaboration. “We are thrilled to announce this strategic partnership with another leading player in the U.S. retail and logistics industry,” said Robin Mackie, chief operating officer of Ideanomics. “This purchase order is a testament to the hard work and dedication of the entire WAVE team and helps cement WAVE’s position as a leader in the wireless charging market. We believe that our wireless charging technology will play a pivotal role in transforming the way electric vehicles are charged and operated in distribution centers.”

Salt Lake City, UT, Jan. 18, 2024 (GLOBE NEWSWIRE) -- SALT LAKE CITY, UT (January 18, 2024) – WAVE Charging, a wholly-owned subsidiary of Ideanomics (NASDAQIDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles has announced the receipt of a purchase order for a new commercial proof of concept project with a major retail and logistics company in the United States. After six months of dedicated efforts, WAVE is excited to embark on this groundbreaking collaboration with a new partner that holds a significant presence in the retail and logistics sector.

WAVE Charging, a wholly owned subsidiary of Ideanomics (NASDAQIDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles, today provided an update on its 500kW ultra-fast wireless charging system developed in conjunction with Cummins Inc. and the U.S. Department of Energy (“DOE”). WAVE has continued development work on the system and toward its deployment. In partnership with Cummins, Venture Logistics and the DOE, WAVE plans to deploy and demonstrate the innovative 500kW wireless inductive charger to move cargo at a Venture Logistics facility in the Midwest. “Our demonstration project with Venture Logistics will show that for medium- and heavy-duty vehicles that demand perpetual operations and require charging infrastructure, wireless charging is the most effective solution at scale,” said Robin Mackie, COO of Ideanomics, WAVE’s parent company. “We’re demonstrating that electric heavy-duty vehicles can operate continuously, recharging during their regular operations. The advantages of this technology are evident: fleet operators enhance efficiency by eliminating vehicle downtime spent refueling or connecting to a central depot.”

Salt Lake, UT, Jan. 16, 2024 (GLOBE NEWSWIRE) -- WAVE Charging, a wholly-owned subsidiary of Ideanomics (NASDAQIDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles, today provided an update on its 500kW ultra-fast wireless charging system developed in conjunction with Cummins and the US Department of Energy.

NEW YORK, NY / ACCESSWIRE / November 24, 2023 / Ideanomics (NASDAQIDEX) ("Ideanomics" or the "Company") today announced that on November 17, 2023, the Company received a notice (the "10-Q Notice") from the staff of the Nasdaq Listing Qualifications department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company had not yet filed its Form 10-Q for the period ended September 30, 2023 (the "Form 10-Q"), the Company is not in compliance with Nasdaq Listing Rules for continued listing. The company filed its 10-Q for the third quarter on Tuesday, November 21, 2023 and subsequently received notification from the Nasdaq on November 22, 2023 that it had regained compliance and that the matter is closed.

Ideanomics (NASDAQIDEX), a global company focused on accelerating the commercial adoption of electric vehicles, is reporting on its third-quarter financial and operating results for the period ended Sept. 30, 2023. Highlights of the report include police services in France and Barbados selecting IDEX subsidiary Energica to provide electric motorcycles for police fleets; the completion by IDEX subsidiary WAVE of an OEM-approved installation of wireless charging on a Kenworth truck in collaboration with Kenworth and Dana; and continued testing by WAVE with a major logistics fleet customer. Financial numbers of note show revenues for Q3 coming in at $3.5 million with gross profit from continuing operations, excluding the change in accounting estimate, showing a loss of half a million dollars, representing a gross margin of negative 14.8%.

NEW YORK, NY / ACCESSWIRE / November 21, 2023 / Ideanomics (NASDAQIDEX) ("Ideanomics" or the "Company"), a global company focused on accelerating the commercial adoption of electric vehicles, announced today its third quarter 2023 operating results for the period ended September 30, 2023.

Ideanomics (NASDAQIDEX), a global company focused on accelerating the commercial adoption of electric vehicles, has announced its Q2 financial results for the period ended June 30, 2023. According to the report, the company saw revenues of $8.2 million for the quarter, which represents a 13% decrease from the same period in 2022, while revenue for continuing operations for the first half of 2023 was $13.8 million, 19% higher than the same period last year. The company reported gross profit of $0.7 million, which represents a gross margin of 8.4%. Gross profit for continuing operations for Q2 2022 was ($0.5) million. In addition to the financial report, the company reported Q2 business highlights, including that its subsidiary Solectrac debuted a new EV tractor called the E25H and also launched a tractor rental program; its subsidiary Energica partnered with Plenitude to provide new innovative solutions for electric mobility; and it finalized divestments of Timios and JUSTLY. Ideanomics also noted in the report that it is continuing to execute on its “commitment to shareholders to exit noncore businesses and finalize a reorganization of the business to focus on last-mile and local delivery vehicles and associated charging products.”

Ideanomics (NASDAQIDEX), a global company focused on accelerating the commercial adoption of electric vehicles, announced that its board of directors has approved a reverse stock split of its common stock; the approval was for par value $0.001 per share at a ratio of 1-for-125. The company anticipates that the reverse stock split will be effective on Aug. 25, 2023, with shares trading on the split-adjusted basis on the NASDAQ exchange at market open; shares will trade under the company’s existing trading symbol: IDEX. According to the announcement, the reverse stock split is “primarily being enacted to regain compliance with the $1 minimum bid price required for continued listing on the NASDAQ Capital Market.”

Ideanomics (NASDAQIDEX), a global company focused on accelerating the commercial adoption of electric vehicles, has announced that it will release Q2 financial results later this week. The company plans to report on its 2023 second-quarter financial results this Friday, Aug. 25, 2023. The report will be made available at approximately 4:05 p.m. ET with the company hosting a prerecorded conference call following the release of the report at 4:30 p.m. ET. Those wishing to access the conference call can find a link to both the call and earnings materials on the IDEX’s investor relations.

Ideanomics (NASDAQIDEX), a global company focused on accelerating the commercial adoption of electric vehicles, is reporting on its first quarter 2023 operating results for the period ended March 31, 2023. Highlights of the report included the finalization of a VIA transaction in January; key partnerships announced by subsidiary Energica to advance all-electric solutions for aviation, marine, and off-road uses; the expansion of subsidiary Solectrac’s dealer network and subsidy program for all-electric tractors; the partnership between US Hybrid and Mi-Jack to develop hydrogen-powered rubber tire gantry crane; and the collaboration between US Hybrid and Global Environmental Products to make 18 zero-emission street sweepers for Caltrans. In addition, the report noted that Ideanomics has consolidated all energy and charging solutions under one brand: WAVE Charging. Key numbers from the report include revenues of $10.6 million and gross profit for the quarter totaling ($0.6) million. The company reported that revenue was primarily down “due to a decrease in revenue from Timios the title & escrow services business, and a decrease in revenue from the China-based EV resale business.” The report also noted that, during the first quarter, IDEX began executing on its commitment to shareholders to exit noncore businesses, including the sale of Timios and the shutdown of the company’s Justly financial services business.

Solectrac, a subsidiary of Ideanomics (NASDAQIDEX), a global company with the mission to accelerate the adoption of electric vehicles, today announced the eligibility of its narrow zero-emission vineyard and orchard tractor, the eUT+, for the California CORE Voucher Program . The program, which is tailored to small business and government entities, aims to accelerate the adoption of zero-emission off-road equipment, paying up to 50% of eligible initial purchases. “We appreciate the dedication of the state of California to incentivize zero-emission off-road machinery through its CORE program and encourage small business owners and government entities to take advantage of this opportunity to electrify their machinery at a significantly reduced cost,” said Mani Iyer, CEO of Solectrac. “This is the kind of government action that will help companies like Solectrac, who are committed to providing alternatives to fossil fueled machinery, to grow our customer base and our product offerings.”