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.
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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.