Welcome to our dedicated page for IDEANOMICS news (Ticker: IDEX), a resource for investors and traders seeking the latest updates and insights on IDEANOMICS stock.
Ideanomics, Inc. (NASDAQ: IDEX) is a forward-thinking American multinational company aimed at accelerating the adoption of commercial electric vehicles (EVs). The company operates through three primary business units under one segment to cover diverse aspects of the EV ecosystem.
Ideanomics Mobility focuses on electric vehicles, including mid- and last-mile delivery trucks, vans, tractors, and two-wheelers. It comprises five operating companies: VIA, Energica, Solectrac, United States Hybrid, and Tree Technologies. These companies work together to provide innovative EV solutions for different market needs.
Ideanomics Energy specializes in charging and energy-related products and services. This division supports the infrastructure required for seamless EV operations, ensuring that fleet operators have access to efficient and reliable charging solutions.
Ideanomics Capital offers financial services and fintech products that support the Mobility and Energy units. This division focuses on capital markets, including financial product advisory and creation, with a particular emphasis on blockchain and artificial intelligence applications in financial technology.
Recent achievements include notable partnerships and projects. For instance, WAVE Charging, a wholly-owned subsidiary, secured a purchase order for a commercial proof of concept project involving wireless charging technology for BYD yard tractors at a major retail and logistics company. Similarly, WAVE Charging achieved OEM approval after integrating its high-power wireless charging technology into Kenworth's Class 6 electric trucks, showcasing its commitment to innovation in the EV industry.
Another significant development is from Energica Inside, which has signed an agreement to electrify the historic Nimbus Model C motorcycle, highlighting Ideanomics' dedication to supporting sustainable and innovative transportation solutions.
Despite some challenges, such as recent non-compliance notices from NASDAQ due to delays in filing financial results, Ideanomics is diligently working to regain compliance. The company's mission remains steadfast: to accelerate the commercial adoption of electric vehicles by integrating vehicles, charging solutions, and financial services under one comprehensive umbrella.
For the latest updates on Ideanomics and its subsidiaries, follow the company on social media @ideanomicshq or visit their official website at www.ideanomics.com.
Energica Motor Company announced the expansion of its dealer network to 20 locations in the U.S., facilitated by Ideanomics, which is increasing its ownership stake from 20% to approximately 70%. Energica saw a global sales growth of 91% in 2020, and is on track to meet its goal of doubling its dealer network by 2022. The recent addition of six dealers in states including Colorado and Hawaii reflects strong demand, with pre-orders being taken for nearly all incoming bikes. Energica plans continued growth driven by rigorous dealer selection.
Ideanomics (NASDAQ: IDEX) announced the appointment of Hariharan Viswanathan as Senior Vice President of Product & Supplier Development for its subsidiary, Solectrac. Viswanathan, a former John Deere executive with 20 years of experience, will enhance Solectrac's zero-emission tractor operations and introduce new models. Emphasizing R&D and production efficiency, his leadership aims to achieve significant revenue growth within two years while retaining Solectrac's innovative culture.
On November 24, 2021, Ideanomics (NASDAQ: IDEX) announced its subsidiary Solectrac will receive the WINnovation Award at the WIN Expo in Santa Rosa, California, on December 2. Solectrac is recognized for its innovative e70N electric tractor, designed for vineyard operations, which enhances sustainability by reducing emissions and operational noise. The tractor's electric motor features fewer moving parts, leading to lower maintenance costs. Solectrac aims to support wineries transitioning to electric equipment, showcasing its technology at the expo.
Ideanomics (IDEX) reported its Q3 2021 operating results, achieving $27 million in revenue, with the Mobility Unit generating $11.5 million—a rise from $8.7 million in Q2. Gross profit also increased to $4.5 million, representing a 16.7% gross margin, compared to $0.7 million in Q3 2020. Notably, the company announced strategic acquisitions of VIA Motors and Energica, expected to close in Q1 2022, enhancing OEM capabilities. Additionally, a financial restatement was completed, correcting errors without impacting gross profit.
Ideanomics (NASDAQ: IDEX) has scheduled its Q3 2021 earnings conference call for November 23, 2021, at 8:30 a.m. ET. The senior management team will present followed by a Q&A session. Interested parties can access the call via the provided webcast link or by dialing the toll-free number for U.S. and Canadian listeners. A replay of the call and materials will be available on the Company's investor relations website.
Ideanomics focuses on financial services and technology disruption in sectors like electric vehicles and fintech.
Ideanomics (NASDAQ: IDEX) announced the rescheduling of its third quarter earnings report for the period ending September 30, 2021, originally set for November 15, 2021. The company has filed a 12b-25 notification with the SEC, requesting a 5-day extension for the earnings announcement. Further details regarding the revised schedule and the earnings conference call will be provided once established.
Ideanomics (NASDAQ: IDEX) announced the launch of its Say shareholder Q&A platform, allowing registered investors to submit and upvote questions for management during the Q3 earnings webcast on November 15, 2021. Shareholders can participate via the Say Connect platform starting November 8, 2021. This initiative aims to enhance investor engagement by offering a direct channel for inquiries. The Q3 earnings call will provide essential updates and insights into the company's performance and future outlook.
Ideanomics (NASDAQ: IDEX) announced its participation in the 2021 APTA TRANSform Conference & EXPO, promoting its subsidiary WAVE, which specializes in wireless electric vehicle charging solutions. WAVE received a follow-on order worth $280K from Antelope Valley Transit Authority (AVTA) to enhance wireless infrastructure. This technology facilitates hands-free, rapid charging for electric buses, addressing significant range limitations for transit agencies. WAVE's systems are already operational with AVTA, which recently celebrated its five millionth mile with its electric bus fleet.
Ideanomics (NASDAQ: IDEX) is set to release its third-quarter financial results on November 15, 2021, with a press release at 4 p.m. ET followed by a conference call at 4:30 p.m. ET. In partnership with Say Technologies, the company aims to enhance shareholder communication by allowing investors to submit questions via the Say Connect platform starting from November 8. The earnings call will enable direct interaction with senior management, highlighting the company's efforts to improve transparency and investor engagement.
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