AYRO Reports Missed Expectations as Both EPS and Revenue Fall Short

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AYRO ($NASDAQ:AYRO), a publicly traded automotive company, recently reported its financial results for the quarter and they missed expectations significantly. According to the report, AYRO’s GAAP EPS of -$2.99 was $2.15 below the expected figure, while the revenue of $0.09M was $0.04M lower than anticipated. Analysts are pointing to a number of factors that contributed to AYRO’s performance. The company’s disappointing sales and revenue in the quarter are attributed to the recently imposed tariffs on imports, which has hindered the company’s ability to grow.

Additionally, AYRO has been struggling to keep up with the competition in terms of innovation, as other companies have been investing heavily in new technologies and designs. Despite this, AYRO is still popular among investors due to its low share price. It remains to be seen whether or not AYRO can turn its fortunes around and meet expectations in the future quarters. For now, AYRO’s missed expectations have reminded investors that the company must continue to innovate in order to remain competitive and successful.

Earnings

In its earnings report of FY2023 Q2 ending June 30 2021, AYRO reported a significant decrease in both its total revenue and net income. The company reported total revenue of 0.52M USD, a decrease of 46.9% compared to the same quarter last year, and a net loss of 7.66M USD. Over the last 3 years, AYRO’s total revenue has decreased from 0.52M USD to 0.14M USD, missing analysts’ expectations. These results have raised concerns among investors, as the company struggles to stay profitable in the current challenging market environment.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Ayro. AYRO_Reports_Missed_Expectations_as_Both_EPS_and_Revenue_Fall_Short”>More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Ayro. AYRO_Reports_Missed_Expectations_as_Both_EPS_and_Revenue_Fall_Short”>More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Ayro. AYRO_Reports_Missed_Expectations_as_Both_EPS_and_Revenue_Fall_Short”>More…

Key Ratios Snapshot

Some of the financial key ratios for Ayro are shown below. AYRO_Reports_Missed_Expectations_as_Both_EPS_and_Revenue_Fall_Short”>More…

Share Price

On Tuesday, AYRO reported that their earnings per share and revenue failed to meet expectations. The company’s stock opened at $1.8 and closed at the same price, a 2.9% increase from the previous closing price of $1.8. Investors were disappointed with the results, leading to the stock not making any significant gains. Despite the lackluster reports, the company is still confident in their future growth prospects and is actively taking measures to improve their operations and financial position. Live Quote…

Analysis

GoodWhale recently conducted an analysis of AYRO‘s wellbeing. The results of our analysis were represented in the Star Chart, which showed that AYRO is strong in asset, medium in growth and weak in dividend, profitability. Based on this information, we classified AYRO as a ‘rhino’ type of company, one which has achieved moderate revenue or earnings growth. Investors who are looking for companies that can offer steady returns over the long-term may be interested in AYRO. In addition, with an intermediate health score of 6/10 with regard to its cashflows and debt, it is likely that AYRO can safely ride out any crisis without the risk of bankruptcy. More…

Peers

The electric vehicle industry is becoming increasingly competitive as more and more companies enter the market. AYRO Inc, QuantumScape Corp, Lordstown Motors Corp, and XPeng Inc are all competing for a share of the market. Each company has its own unique technology and approach to electric vehicles, and it will be interesting to see how the competition plays out.

– QuantumScape Corp ($NYSE:QS)

QuantumScape is a company that specializes in the development of battery technology for electric vehicles. The company’s market cap as of 2022 is 3.54 billion, and its ROE is -16.07%. QuantumScape is a relatively young company, and it is still in the process of commercializing its battery technology. The company has faced some challenges in recent years, but it remains one of the leading developers of battery technology for electric vehicles.

– Lordstown Motors Corp ($NASDAQ:RIDE)

Founded in 1954, Lordstown Motors Corp is an American electric vehicle manufacturer. The company’s first product is the Endurance, an all-electric pickup truck. Lordstown Motors is headquartered in Ohio and has a manufacturing facility in Michigan.

As of 2022, Lordstown Motors Corp has a market cap of 397.88M and a Return on Equity of -39.42%. The company manufactures electric vehicles and its first product is the Endurance, an all-electric pickup truck.

– XPeng Inc ($SEHK:09868)

Peng Inc is a leading provider of online travel services. The company offers a wide range of travel-related products and services, including air tickets, hotel reservations, car rentals, and vacation packages. Peng Inc has a market cap of 44.6B as of 2022, a Return on Equity of -11.13%. The company has been growing rapidly, but has faced some challenges in recent years.

Summary

AYRO, Inc. reported its most recent quarterly earnings, revealing a net loss of $2.99 per share, missing analysts’ expectations by $2.15. Therefore, the actual results were worse than expected by both metrics. AYRO’s performance is concerning to investors, signaling difficulty in marketing and sales ability as well as financial management. Moving forward, investors should closely monitor AYRO’s future earnings reports for signs of progress or further declines in performance.