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EVmo, Inc. (OTC: YAYO) reported record revenue of $2.7 million for Q2 2021, reflecting a 67.8% increase from $1.6 million in Q2 2020. Gross profit rose by 158.1% year-over-year, with a gross margin of 27.8%, outpacing comparable public companies. The company also noted a 15.6% revenue growth over Q1 2021's $2.3 million. Despite these gains, net losses increased to $1.8 million due to rising operating expenses. Subsequent to the quarter, a $15 million debt offering was completed to support future growth.
EVmo, Inc. (OTC: YAYO) will host a conference call on August 17, 2021, at 4:30 p.m. ET to discuss its operational and financial highlights for the second quarter ending June 30, 2021. The call will offer insights into the company’s performance in the rideshare and delivery gig economy sector. Interested parties can join via a toll-free number or an international line, with a replay available until August 31, 2021. EVmo provides vehicles and fleet management services tailored to the evolving gig economy.
EVmo, Inc. (OTC: YAYO) has secured $15 million in debt financing from Energy Impact Partners to support its ambitious growth plan of deploying 10,000 vehicles over the next 18-24 months. This financing allows for the immediate addition of up to 500 fleet units, enhancing the electric vehicle (EV) mix to over 20%. The company anticipates generating approximately $80 million in annual revenue for every $10 million raised, aiming for a 25% EBITDA margin. The initiative capitalizes on growing demand in the rideshare market, projected to reach $4.5 billion.
EVmo, Inc. (OTC: YAYO) reported a record revenue of $2.3 million for Q1 2021, a 31.3% increase from Q1 2020. Gross profit surged 57% year-over-year. The company is expanding its fleet of electric vehicles (EVs), now comprising 14% of its managed fleet, and aims to increase this percentage throughout 2021. EVmo also moved its headquarters to accommodate growth and entered the last-mile logistics market. The company expects to raise $25 million primarily in debt capital to scale its fleet to 10,000 vehicles, targeting a 25% EBITDA margin.
EVmo, Inc. (OTC: YAYO) will host a conference call on May 18, 2021, at 4:30 p.m. ET to discuss its Q1 2021 operational and financial highlights. The company specializes in providing vehicles for the rideshare and delivery gig economy, aiming to connect drivers with suitable vehicles. EVmo's offerings include an online vehicle booking platform and fleet management services, supporting both passenger and cargo fleets. Interested parties can access a replay until June 1, 2021.
EVmo, Inc. (OTC: YAYO) announced that CEO Stephen Sanchez will be featured on The RedChip Money Report, airing on Bloomberg Network on April 10, 2021, at 7 p.m. local time. This show reaches 73 million homes and provides insights into small-cap investing, including interviews with executives of public companies. EVmo specializes in providing vehicles for the rideshare and delivery gig economy, offering an online booking platform and fleet management services to drivers and logistics companies.
EVmo, Inc. (OTC:YAYO) announced a record revenue of $7.6M for 2020, up 10.2% from 2019, despite COVID-19 impacts. Q4 2020 revenue reached $2.2M, a 29% increase year-over-year. The company expanded its fleet and entered the last-mile logistics sector, deploying 40 electric vehicles. Management anticipates strong EBITDA growth, projecting $80M annual revenue for every $10M raised in capital. With 32,000 registered drivers, EVmo's strategic partnerships and all EV transition aim for continued growth in North America's ridesharing market, valued at $4.5 billion in 2019.
EVmo, Inc., formerly YayYo, Inc. (OTC: YAYO), has announced its commitment to transition to an all-electric fleet by the end of 2021. This strategic move includes a fleet acquisition of Tesla vehicles, positioning the company as a pioneering partner in the rideshare and delivery gig economy. CEO Steven Sanchez highlighted the environmental benefits and cost savings for drivers utilizing electric vehicles (EVs), which have shown strong demand in the market. EVmo previously deployed 40 EVs in late 2020 and has plans for further expansion, indicating a focus on sustainability and profitability.
EVmo, Inc. (formerly YayYo, Inc.) announced plans to transition its fleet to all-electric vehicles by the end of 2021, emphasizing partnerships with Tesla for its rideshare rental services. CEO Steven Sanchez highlighted the environmental benefits and market demand for electric vehicles in the gig economy. The company previously deployed 40 EVs in late 2020 and acquired an additional 12 in February 2021, demonstrating strong rental demand. EVmo aims to lead this shift, enhancing profitability for drivers and expanding its market presence in line with industry trends.
EVmo, Inc., formerly YayYo, Inc., announces new leadership with Terren Peizer as Executive Chairman and Stephen M. Sanchez as CEO. The company is beginning the up-listing process to the Nasdaq Capital Market and has changed its name to EVmo, reflecting its focus on electric vehicles (EVs). With Acuitas Group Holdings becoming the largest stockholder, the company aims to enhance shareholder value through capital infusion for growth in the rideshare and delivery sectors. EVmo's transition to a pure EV company is driven by increasing market demand.
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