Ideanomics Announces Q1 2021 Earnings Conference Call Details

Rhea-AI Summary

Ideanomics (NASDAQ: IDEX) will announce its 2021 first-quarter financial results on May 17, 2021, at 4 PM ET, followed by a management conference call at 4:30 PM ET. The company has undertaken significant transformations through accretive acquisitions in its Mobility and Capital divisions. Beginning this quarter, Ideanomics will report its forecasted sales pipeline alongside quarterly earnings. Investors are encouraged to submit questions in advance via email for the upcoming webcast. The conference call details are available on their corporate website.

Positive

• Significant transformations through accretive acquisitions in Mobility and Capital divisions.
• Beginning to report forecasted sales pipeline alongside quarterly earnings.

Negative

• None.

NEW YORK, April 16, 2021 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") is pleased to announce the release of its 2021 first-quarter financial results on Monday, May 17, 2021. A press release will be issued at approximately 4pm ET, followed by a conference call with management at 4:30pm ET. The Company's senior management team will give prepared remarks followed by a question-and-answer session. Ideanomics encourages investors and analysts to email their questions in advance of the webcast. Please email questions to ir@ideanomics.com.

CONFERENCE CALL INFORMATION

Webcast Link: At the Ideanomics (www.ideanomics.com) corporate website, and https://78449.themediaframe.com/dataconf/productusers/ssc/mediaframe/44733/indexl.html

Dial-in Number: (Toll-Free US & Canada): 877-407-3107 or 201-493-6796; for China: +86-400-120-2840. A replay of the webcast and earnings materials will be available on the Company's investor relations website for six months: https://investors.ideanomics.com/quarterly-earnings.  

Over the first quarter of this year, Ideanomics has transformed the business through highly accretive acquisitions under both Ideanomics Mobility and Ideanomics Capital divisions. Starting this quarter, we will begin to report generally our forecasted sales pipeline alongside our quarterly earnings.

About Ideanomics
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our 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 and Ideanomics 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.

Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Investor Relations and Media Contact

Ideanomics,Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018.
Email: ir@ideanomics.com

Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com

 

IDEANOMICS, INC. CONSOLIDATED BALANCE SHEETS (USD in thousands) As of December 31,		2020			2019
ASSETS
Current assets:
Cash and cash equivalents		$	165,764		$	2,633
Accounts receivable, net (including due from related parties of $0 and $2,284 as of December 31, 2020 and 2019, respectively)			7,400			2,405
Amount due from related parties			240			1,256
Prepaid expenses			2,629			572
Other current assets			3,726			587
Total current assets			179,759			7,453
Property and equipment, net			330			378
Fintech Village			7,250			12,561
Intangible assets, net			29,705			52,771
Goodwill			1,165			23,344
Long-term investments			8,570			22,621
Operating lease right of use assets			7,117			6,934
Other non-current assets			516			883
Total assets		$	234,412		$	126,945
LIABILITIES, CONVERTIBLE REDEEMABLE PREFERRED STOCK , REDEMABLE NON-CONTROLLING INTEREST AND EQUITY
Current liabilities
Accounts payable		$	5,057		$	3,380
Deferred revenue			1,129			477
Accrued salaries			1,750			923
Amount due to related parties			882			3,962
Other current liabilities			1,920			6,466
Current portion of operating lease liabilities			430			1,113
Current contingent consideration			1,325			12,421
Promissory note-short term			568			3,000
Convertible promissory note due to third-parties-short term			—			1,753
Convertible promissory note due to related parties-short term			—			3,260
Total current liabilities			13,061			36,755
Asset retirement obligations			4,653			5,094
Convertible promissory note due to third-parties-long term			—			5,089
Convertible promissory note due to related parties-long term			—			1,551
Operating lease liability-long term			6,759			6,222
Non-current contingent liabilities			7,635			12,235
Other long-term liabilities			535			—
Total liabilities			32,643			66,946
Commitments and contingencies (Note 19)
Convertible redeemable preferred stock and Redeemable non-controlling interest:
Series A - 7,000,000 shares issued and outstanding, liquidation and deemed liquidation preference of $3,500,000 as of December 31, 2020 and 2019, respectively			1,262			1,262
Redeemable non-controlling interest			7,485			—
Equity:
Common stock - $0.001 par value; 1,500,000,000 shares authorized, 344,906,295 and 149,692,953 shares issued and outstanding as of December 31, 2020 and 2019, respectively			345			150
Additional paid-in capital			531,866			282,556
Accumulated deficit			(346,883)			(248,483)
Accumulated other comprehensive loss			1,256			(664)
Total IDEX shareholder's equity			186,584			33,559
Non-controlling interest			6,438			25,178
Total equity			193,022			58,737
Total liabilities, convertible redeemable preferred stock, redeemable non-controlling interest and equity		$	234,412		$	126,945

 

IDEANOMICS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (USD in thousands, except per share data) For the years ended December 31,		2020			2019
Revenue from third-parties		$	26,749		$	1,295
Revenue from related parties			10			43,271
Total revenue			26,759			44,566
Cost of revenue from third-parties			24,701			991
Cost of revenue from related parties			1			467
Gross profit			2,057			43,108
Operating expenses:
Selling, general and administrative expenses			32,399			24,862
Research and development expense			1,635			—
Professional fees			12,541			5,828
Depreciation and amortization			5,310			2,229
Change in fair value of contingent consideration, net			(5,503)			5,094
Impairment losses			42,554			73,669
Total operating expenses			88,936			111,682
Loss from operations			(86,879)			(68,574)
Interest and other income (expense):
Interest expense, net			(15,970)			(5,616)
Expense due to conversion of notes			(2,266)			—
Gain (loss) on extinguishment of debt			8,891			(3,940)
Impairment of and equity in loss of equity method investees			(16,698)			(13,718)
Gain (loss) on disposal of subsidiaries, net			276			(952)
Loss on remeasurement of DBOT investment			—			(3,179)
Other income (expense), net			6,603			(433)
Loss before income taxes and non-controlling interest			(106,043)			(96,412)
Income tax (expense) benefit			—			(417)
Net loss			(106,043)			(96,829)
Deemed dividend related to warrant repricing			(184)			(827)
Net loss attributable to common stockholders			(106,227)			(97,656)
Net (income) loss attributable to non-controlling interest			7,827			(852)
Net loss attributable to IDEX common shareholders		$	(98,400)		$	(98,508)
Basic and diluted loss per share		$	(0.46)		$	(0.82)
Weighted average shares outstanding:
Basic and diluted			213,490,535			119,766,859

 

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SOURCE Ideanomics

FAQ

When will Ideanomics release its 2021 first-quarter financial results?

Ideanomics will release its 2021 first-quarter financial results on May 17, 2021, at 4 PM ET.

What are the details of the conference call for Ideanomics' financial results?

The conference call for Ideanomics' financial results will be held on May 17, 2021, at 4:30 PM ET, following the release of financial results.

How can investors submit questions for Ideanomics' upcoming webcast?

Investors can submit questions in advance by emailing ir@ideanomics.com.

What changes will Ideanomics report with its quarterly earnings starting this quarter?

Starting this quarter, Ideanomics will report its forecasted sales pipeline alongside its quarterly earnings.