IDEANOMICS INC - IDEX STOCK NEWS

Ideanomics (IDEX) reports its Mobile Energy Global (MEG) division delivered 151 vehicle units for the taxi and ride-hailing segment in November 2020. Additionally, 205 units invoiced between July and November remain pending delivery. The November activities included the delivery of one charging system and 13 CATL battery systems aimed at converting diesel buses to battery electric vehicles. The company focuses on facilitating electric vehicle adoption through procurement, financing, and energy management solutions.

Ideanomics (NASDAQ: IDEX) announced that CEO Alf Poor will present at the 23rd Annual Needham Growth Conference on January 15 at 2:45 PM ET. The presentation will be available via live webcast, and a replay can be accessed on the company's website for 90 days post-event. Ideanomics focuses on financial services and the adoption of electric vehicles through its Mobile Energy Global division and Ideanomics Capital. The company operates globally with headquarters in New York, NY.

Ideanomics (NASDAQ: IDEX) has appointed Richard Teoh as Chief Financial Officer of its subsidiary, Tree Technologies Sd. Bhd., effective immediately. Teoh brings over 20 years of finance experience from reputable companies including Volkswagen Group Malaysia. His role will be vital in achieving Treeletrik's growth objectives within the electric vehicle (EV) sector. The company aims to expand its EV portfolio across the ASEAN region, enhancing clean transportation solutions. Ideanomics acquired a controlling stake in Tree Manufacturing in March 2019, facilitating this expansion.

On November 23, 2020, Ideanomics (IDEX) announced a follow-on investment of $1.3 million in Solectrac, Inc., increasing its ownership stake from 14.7% to approximately 24%. This investment reflects growing interest from ESG funds and is aimed at helping Solectrac meet rising market demand for its 100% battery-powered electric tractors. Ideanomics expects to recognize its stake in Solectrac under the equity method for US GAAP accounting. Solectrac has seen increased inquiries and has received various accolades, including the World Alliance Solar Impulse Efficient Solutions label.

Ideanomics (NASDAQ: IDEX) reported sales activity for its Mobile Energy Global (MEG) division, delivering 102 units of taxi/ride-hailing vehicles in October 2020. The company noted a lower volume due to overlapping national holidays in China, affecting business days. MEG has 340 units invoiced from prior months pending delivery. CEO Alf Poor emphasized their focus on completing larger vehicle orders and expanding into battery systems and charging during Q4. The company's strategy aims for quarter-over-quarter growth and a robust start to 2021.

Ideanomics (NASDAQ: IDEX) has announced a definitive stock purchase agreement to acquire 100% of Timios Holdings Corp. for an undisclosed cash amount. Timios, a provider of title and settlement solutions, aims to revolutionize real estate transactions with its innovative approach. The acquisition will strengthen Ideanomics Capital, promoting efficiency and transparency in financial services. Timios reported significant revenue growth, with $54,463,000 in revenue for the first nine months of 2020, showcasing its potential as a cornerstone of Ideanomics' fintech strategy.

Ideanomics (IDEX) reported its Q3 2020 results, highlighting a significant revenue increase to $10.6 million, primarily from its MEG business unit, which generated $10.1 million. This marks the highest revenue since the company's inception. However, gross profit decreased to $0.7 million compared to $2.9 million in Q3 2019, leading to an operating loss of $12.0 million, up from $9.4 million a year earlier. CEO Alf Poor expressed confidence in maintaining growth momentum, particularly in the taxi and ridesharing sectors.

Ideanomics (NASDAQ: IDEX) has acquired a 15% stake in Solectrac, Inc. for $1.3 million. Solectrac specializes in 100% battery-powered electric tractors catering to agriculture and utility operations. The investment bolsters Ideanomics' position in the electric vehicle market. This strategic move is set to enhance Ideanomics' footprint in the U.S. electric vehicle sector, with a focus on sustainable agriculture, as the demand for environmentally-friendly solutions grows.

Ideanomics (NASDAQ: IDEX) has announced that it will release its Q3 2020 financial results on November 9, 2020, at 4:00 PM ET, followed by a conference call at 4:30 PM ET. Shareholders are invited to submit questions before the call. The company is also moving to a new headquarters at 1441 Broadway, New York, NY, ensuring employee safety in accordance with COVID-19 guidelines. Ideanomics will hold its virtual Annual General Meeting on October 22, 2020, at 10 AM ET for shareholders of record as of September 10, 2020.