IDEANOMICS INC - IDEX STOCK NEWS

Ideanomics (NASDAQ: IDEX) has fully acquired Solectrac Inc., a California-based manufacturer of zero-emission electric tractors. This acquisition aims to enhance Ideanomics' position in the agricultural sector and contribute to reducing greenhouse gas emissions. Solectrac will benefit from Ideanomics' support in operational scaling and market expansion, particularly in North America, where it holds a competitive edge. The integration is expected to bolster production capacity, inventory, and marketing efforts, tapping into the growing demand for sustainable agricultural solutions.

Ideanomics (NASDAQ: IDEX) has successfully acquired 100% of US Hybrid, a company specializing in electric powertrain components. This acquisition aligns with Ideanomics' goal of reducing greenhouse gas emissions through electric vehicle technologies. US Hybrid has secured orders for all-electric street sweepers from Global Environment Products, anticipated to generate over $1 million in revenue in 2021. This strategic move is expected to enhance Ideanomics' market position in the commercial EV sector, providing innovative solutions and expanding its customer base.

Ideanomics (NASDAQ: IDEX) will join the Russell 3000® Index after the annual reconstitution on June 28, 2021. This inclusion enables access to a larger institutional shareholder community and aligns with Ideanomics' strategy to enhance shareholder awareness and drive growth. The Russell indexes capture the largest US stocks based on market capitalization, with approximately $10.6 trillion in assets benchmarked to them. Ideanomics aims to leverage this membership to highlight its revenue potential in the EV industry and consistent fintech results for shareholders.

Ideanomics (NASDAQ: IDEX) announced that CFO Conor McCarthy will present at the LD Micro Invitational XI conference on June 10, 2021, at 6:00 p.m. ET. The conference, running from June 8 to June 10, features around 180 companies and keynotes from notable figures. McCarthy expressed excitement about sharing insights on the company's EV-centric subsidiaries, highlighting their role in the commercial EV sector. To register for the event, visit the provided link. For more information about Ideanomics, visit their website.

Ideanomics (NASDAQ: IDEX) announced that its subsidiary WAVE has successfully deployed a 250-kilowatt high-power wireless charging system for the Twin Transit Authority in Chehalis, Washington. This installation is crucial for the transit authority's goal of achieving a carbon-neutral fleet by 2030. WAVE's technology enables battery-electric buses to extend their range significantly, adding up to 25 miles in just 10 minutes. This deployment emphasizes WAVE's commitment to zero-emission solutions and addresses the challenges of competing with diesel bus ranges.

Ideanomics (IDEX) reported first quarter 2021 revenue of $32.7 million, marking five consecutive quarters of growth. This includes $27.6 million from Timios and $1.8 million from WAVE, both acquired in the quarter. Revenue from Electric Vehicles surged to $3.0 million from $55,000 in Q1 2020. Gross profit stood at $10.8 million with a gross margin of 33.1%, up from $44,000 in the same period last year. Notable updates include acquisitions and a cash position of $356 million as of March 31, 2021.

On May 13, 2021, Ideanomics (IDEX) announced a definitive agreement to acquire US Hybrid, a California-based company specializing in zero-emission powertrain solutions. The acquisition, involving cash and stock, aims to enhance Ideanomics' capabilities in the electric vehicle sector. US Hybrid, established in 1999, provides integrated power systems for commercial vehicles, focusing on electric and hybrid technologies. This acquisition aligns with Ideanomics' strategy to bolster its EV efforts and support US-based clean technology innovation.

On April 23, 2021, Ideanomics (NASDAQ: IDEX) celebrated the end of Earth Week by ringing the NASDAQ closing bell. CEO Alf Poor emphasized the company's commitment to sustainability and its global impact. Ideanomics is advancing clean energy through acquisitions, such as WAVE™ for wireless charging, and partnerships in the electric scooter market with Treeletrik. The company has also acquired a 20% stake in Energica Motor Company, enhancing its battery technology portfolio. Additionally, Ideanomics Capital acquired Timios Holdings Corp, boosting revenues and cash flows.

Ideanomics (NASDAQ: IDEX) announced an investment in FNL Technologies, acquiring a 20% stake in exchange for cash and stock. Concurrently, Ideanomics divested Grapevine Village to FNL, which operates the social media platform hoo.be. This partnership aims to enhance Grapevine's influencer marketing strategies. CEO Alf Poor highlighted the synergy and growth potential of this collaboration. Hoo.be has gained popularity among notable users like 50 Cent and Chris Paul, promising further monetization avenues. Details will be documented in an 8-K filing.