Ideanomics Reports $26.8M in Revenues and EV Sales Growth for 2020
Ideanomics (NASDAQ: IDEX) reports full-year 2020 earnings results with $26.8M in overall revenue and $19.5M in EV revenue, up more than 600% on the prior year.
The 2020 revenue includes the company's first sales of charging and battery systems. IDEX expects charging system revenues to grow as the WAVE inductive charging business acquired in January starts showing up in financials this quarter.
"We are very pleased with the transformation that took place this past year," says CEO Alf Poor. "Despite a year highlighted by COVID-19, we were able to build the groundwork for 2021 and beyond for Ideanomics and we are excited for what the future holds with our recent activity across the EV ecosystem and developments in EV charging infrastructure."