IDEANOMICS INC - IDEX STOCK NEWS

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.

Tree Technologies Sdn Bhd, a Malaysian EV maker and a subsidiary of Ideanomics (NASDAQ: IDEX), has secured a partnership to supply 200,000 electric motorbikes to Indonesia over three years. This deal aims to boost the adoption of electric mobility in Southeast Asia and aligns with Indonesia's government initiatives for electric vehicles. Treeletrik will collaborate with PT Pasifik Sakti Enjiniring and the Nahdatul Ulama Board for distribution. The partnership positions Treeletrik as a key player in the ASEAN market for EVs and is expected to generate significant sales, targeting 10,000 units in 2021 alone.

Ideanomics (IDEX) has appointed Kristen Helsel as the new Chief Revenue Officer to enhance its growth strategy and align revenue-generating departments. Helsel brings over 20 years of experience in the automotive and energy management sectors, known for driving revenue growth and leading sales teams. Her previous roles include Chief Revenue Officer at Pika Energy, which was sold to Generac, and VP at AeroVironment. The company is well-positioned for expansion in the commercial electric vehicle market, aiming to leverage Helsel’s expertise for accelerated growth.

Ideanomics (NASDAQ: IDEX) reported its Full Year 2020 results, with revenues of $26.8 million, reflecting notable growth in the electric vehicle (EV) sector. EV revenue soared to $19.5 million, a more than 600% increase from $2.7 million in 2019. Gross profit was $2.1 million, a gross margin of 7.7%, down from $43.1 million in 2019 due to the absence of digital asset management revenue. The company ended 2020 with a strong cash position of $166 million and plans to further develop its EV and charging systems.

Ideanomics has acquired a 20% stake in Energica Motor Company for $13.2 million. Energica specializes in high-performance electric motorcycles, contributing to Ideanomics' expansion in the electric vehicle sector. This investment aligns with the growing demand for electric vehicles, particularly in the motorcycle market, which is expected to grow at over 35% CAGR from 2019 to 2024. Ideanomics aims to leverage Energica's technologies, enhancing its portfolio in the EV industry and supporting Energica's growth initiatives.

Ideanomics (NASDAQ: IDEX) announced its membership in CALSTART, a non-profit organization dedicated to advancing clean transportation technologies. This partnership aims to boost the adoption of electric vehicles (EVs) through Ideanomics' subsidiaries, including Wireless Advanced Vehicle Electrification (WAVE) and Medici Motor Works. CALSTART's expertise will help Ideanomics enhance its commercial EV offerings, aligning with its goal of accelerating global EV adoption. This collaboration is expected to foster innovation in the clean transportation sector while contributing to climate stability and job creation.

Ideanomics (NASDAQ: IDEX) announced participation in several virtual conferences in March 2021. WAVE will present at the Global Transmission Conference on March 4 at 1:15 PM EST, while Solectrac will feature at the FORCE for Knowledge: Food Tech 101 on March 10 at 11:00 AM EST. Additionally, Ideanomics will host an EV Panel at the 33rd Annual ROTH Conference on March 17. CEO Alf Poor will also hold one-on-one meetings from March 15-17. This engagement highlights Ideanomics' focus on electric vehicles and fintech solutions.

Solectrac, a portfolio company of Ideanomics (IDEX), has launched a new reservation campaign for its all-electric tractors, allowing customers to reserve with a $1000 deposit. In response to rising demand, this move aims to enhance production capabilities. Solectrac focuses on the under 40 HP tractor market, projecting significant growth in the global agricultural tractor sector, valued at $23.41 billion by 2025. Electric tractors offer advantages such as lower maintenance costs and improved health and safety for operators. Reservations are currently available on Solectrac's website.

Ideanomics (NASDAQ: IDEX) announces the expansion of Timios Holdings Corp.'s retail purchasing services in California with three new office locations in Santa Clarita, Lancaster, and Ventura. This strategic move is aimed at strengthening service offerings to meet the growing housing market's demands as more companies adopt remote work. Collectively, these cities host a population of around 500,000 people. The expansion underlines Timios' commitment to growth following its successful trajectory in recent years.