PHOENIX MOTOR INC (PEVM) Financials
Newest figures come from the 10-Q for Q3 FY2025, filed Nov 12, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PEVM SEC filings page.
PHOENIX MOTOR INC (PEVM) reported $31.2M in revenue for fiscal year 2024, up 897.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Phoenix Motor’s 2024 scale-up is dominated by inventory accumulation and non-operating earnings, not yet profitable vehicle operations.
Revenue increased nearly tenfold from FY2023 to FY2024, while gross margin reached22.7% , pointing to a product or mix shift rather than scale alone. Even so, operating margin was-99.4% while net margin was25.5% ; that spread indicates profit came outside core operations, and the supplied lines do not identify the source.
Inventory concentration became the balance-sheet mechanic: inventory reached
Operating cash flow was
Financial Health Signals
PHOENIX MOTOR INC does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
PHOENIX MOTOR INC scores -1.70, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($28K) relative to total liabilities ($47.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
PHOENIX MOTOR INC passes 6 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, PHOENIX MOTOR INC used $0.25 of operating cash (-$1.9M OCF vs $7.9M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
PHOENIX MOTOR INC reported an operating loss of $31.0M against $130K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
PHOENIX MOTOR INC generated $2.5M in revenue in Q3 2025. This represents a decrease of 47.8% from the same quarter a year earlier. Against the prior quarter it is down 9.2%.
PHOENIX MOTOR INC's EBITDA was -$1.6M in Q3 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 80.2% from the same quarter a year earlier. Against the prior quarter it is down 20.0%.
PHOENIX MOTOR INC reported -$3.7M in net income in Q3 2025. This represents an increase of 34.2% from the same quarter a year earlier. Against the prior quarter it is down 219.4%.
PHOENIX MOTOR INC earned -$0.30 per diluted share (EPS) in Q3 2025. Against the prior quarter it is down 114.3%.
Cash & Balance Sheet
PHOENIX MOTOR INC held $276K in cash against $138K in long-term debt as of Q3 2025, with $32.3M of liabilities due within a year.
Not reported for Q3 2025.
Not reported for Q3 2025.
Margins & Returns
PHOENIX MOTOR INC's gross margin was 26.9% in Q3 2025, indicating the percentage of revenue retained after direct costs. This is up 3.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 6.5 percentage points.
PHOENIX MOTOR INC's operating margin was -78.8% in Q3 2025, reflecting core business profitability. Against the prior quarter it is down 17.2 percentage points. No change is given against Q3 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
PHOENIX MOTOR INC's ROE was -69.1% in Q3 2025, measuring profit generated per dollar of shareholder equity. This is down 31.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 54.3 percentage points.
Not shown for Q3 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q3 2025.
PEVM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5M-47.8% | $2.7M-77.2% | $4.4M-53.2% | $4.9M | $4.8M+1556.9% | $12.0M+939.0% | $9.4M+428.9% | N/A |
| Cost of Revenue | $1.8M-50.2% | $1.8M-82.1% | $3.0M-56.0% | $3.3M | $3.7M+1147.8% | $10.2M+737.0% | $6.9M+330.0% | N/A |
| Gross Profit | $669K-40.1% | $915K-50.0% | $1.4M-45.5% | $1.6M | $1.1M+22420.0% | $1.8M+3098.4% | $2.5M+1348.0% | N/A |
| SG&A Expenses | $2.6M-72.2% | $2.6M-70.8% | $3.3M-61.8% | $6.7M | $9.5M+274.4% | $8.9M+188.0% | $8.6M+123.4% | N/A |
| Operating Income | -$2.0M+76.5% | -$1.7M+76.2% | -$1.9M+81.4% | -$5.1M | -$8.4M-229.6% | -$7.1M-124.6% | -$10.4M-183.6% | N/A |
| EBITDA | -$1.6M+80.2% | -$1.3M+80.7% | -$1.5M+85.1% | -$4.6M | -$7.8M-215.8% | -$6.7M-149.9% | -$10.0M-201.4% | N/A |
| Interest Expense | -$1.0M-167.2% | -$768K-151.5% | $1.0M+1006.5% | -$2.9M | $1.5M+1373.5% | $1.5M+74600.0% | $93K+9200.0% | N/A |
| Income Tax | N/A | $12K+100.2% | N/A | $8.0M | -$3.8M | -$5.7M-25895.5% | $4.9M | N/A |
| Net Income | -$3.7M+34.2% | -$1.2M-139.0% | -$3.6M-121.4% | -$6.2M | -$5.6M-106.2% | $3.0M+192.9% | $16.8M+703.8% | N/A |
| EPS (Basic) | -$0.33+56.0% | -$0.14-133.3% | -$0.09-116.4% | -$0.20+64.3% | -$0.75-476.9% | $0.42+380.0% | $0.55+523.1% | -$0.56-166.7% |
| EPS (Diluted) | -$0.30 | -$0.14-145.2% | -$0.09-118.4% | -$0.16+71.4% | -$0.75 | $0.31 | $0.49 | -$0.56-166.7% |
| Diluted Shares (Avg) | 12M | 8M+7.7% | 38M+11.8% | N/A | 7M | 8M | 34M | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
PEVM Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $51.8M-19.4% | $54.5M-19.2% | $57.5M-27.0% | $57.6M+394.8% | $64.2M+308.4% | $67.5M+274.9% | $78.7M+314.7% | $11.6M-43.1% |
| Current Assets | $48.3M-16.8% | $50.3M-16.8% | $52.6M-26.0% | $52.0M+764.4% | $58.1M+1238.6% | $60.5M+960.2% | $71.1M+981.5% | $6.0M-22.1% |
| Cash & Equivalents | $276K-1.1% | $112K-92.0% | $828K-70.4% | $764K+2364.5% | $279K+50.0% | $1.4M+266.8% | $2.8M+2002.3% | $31K-77.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $38.4M-15.0% | $39.5M-17.4% | $39.4M-29.8% | $40.8M+2169.5% | $45.1M+2115.1% | $47.8M+2084.2% | $56.2M+1496.1% | $1.8M-60.6% |
| Accounts Receivable | $3.6M-35.2% | $4.0M+8.7% | $5.2M+5.1% | $4.0M+790.2% | $5.6M+428.5% | $3.7M+106.4% | $5.0M+226.2% | $451K-70.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $4.3M0.0% |
| Total Liabilities | $46.4M-5.9% | $46.7M-1.7% | $48.1M-22.6% | $47.3M+186.8% | $49.3M+361.7% | $47.5M+361.3% | $62.2M+656.5% | $16.5M+101.9% |
| Current Liabilities | $32.3M+21.6% | $30.4M+40.5% | $31.4M-3.4% | $26.2M+141.0% | $26.5M+296.2% | $21.6M+250.3% | $32.5M+544.3% | $10.9M+127.2% |
| Non-Current Liabilities | $14.2M-37.8% | $16.3M-37.1% | $16.7M-43.7% | $21.0M+276.1% | $22.8M+471.5% | $25.9M+527.6% | $29.7M+834.6% | $5.6M+65.9% |
| Long-Term Debt | $138K-2.1% | $136K-4.9% | $138K-3.5% | $138K-4.2% | $141K-3.4% | $143K0.0% | $143K-0.7% | $144K-2.0% |
| Total Equity | $5.3M-64.2% | $7.8M-60.9% | $9.4M-43.4% | $10.3M+313.3% | $14.9M+195.5% | $20.0M+159.4% | $16.6M+53.9% | -$4.8M-139.4% |
| Retained Earnings | -$49.7M-41.7% | -$46.0M-56.1% | -$44.9M-38.3% | -$41.3M+16.1% | -$35.1M+5.8% | -$29.5M+14.6% | -$32.4M-3.5% | -$49.2M-72.3% |
PEVM Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$820K+32.5% | -$2.4M-203.2% | -$2.6M+33.4% | $868K | -$1.2M-40.6% | $2.3M+489.0% | -$3.9M-259.3% | N/A |
| Depreciation & Amortization | $412K-20.9% | $397K-5.3% | $445K+7.0% | $480K | $521K+864.8% | $419K-14.1% | $416K+17.2% | N/A |
| Stock-Based Compensation | $596K+2609.1% | $34K | -$39K-178.0% | N/A | $22K | N/A | $50K-54.1% | N/A |
| Capital Expenditures | N/A | N/A | N/A | $0 | $0-100.0% | $0-100.0% | $113K+59.2% | N/A |
| Free Cash Flow | N/A | N/A | N/A | $868K | -$1.2M+17.2% | $2.3M+278.9% | -$4.0M-247.0% | N/A |
| Investing Cash Flow | N/A | N/A | N/A | $0 | $766K+26.8% | -$766K-10.2% | -$10.1M-14143.7% | N/A |
| Financing Cash Flow | $984K+246.2% | $1.7M+156.6% | $2.7M-80.3% | -$383K | -$673K-1151.6% | -$2.9M-290.9% | $13.5M+1075.3% | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
PEVM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.9%+3.5pp | 33.4%+18.2pp | 30.9%+4.4pp | 32.6% | 23.4%+25.1pp | 15.2%+20.5pp | 26.6%+16.9pp | N/A |
| Operating Margin | -78.8% | -61.6%-2.6pp | -43.9% | -103.3% | -175.2% | -59.0% | -110.6% | N/A |
| Net Margin | -147.7% | -42.0%-66.5pp | -81.3% | -125.8% | -117.2% | 24.5% | 178.1% | N/A |
| Return on Equity | -69.1%-31.6pp | -14.8%-29.5pp | -38.2%-139.4pp | -60.1% | -37.5%+16.2pp | 14.8%+56.0pp | 101.2%+127.0pp | N/A |
| Return on Assets | -7.1%+1.6pp | -2.1%-6.5pp | -6.2%-27.5pp | -10.8% | -8.7%+8.5pp | 4.4%+22.0pp | 21.3%+35.9pp | N/A |
| Current Ratio | 1.50-0.7x | 1.66-1.1x | 1.68-0.5x | 1.98+1.4x | 2.19+1.5x | 2.80+1.9x | 2.19+0.9x | 0.55-1.1x |
| Debt-to-Equity | 0.030.0x | 0.020.0x | 0.010.0x | 0.01 | 0.010.0x | 0.010.0x | 0.010.0x | N/A |
| Asset Turnover | 0.050.0x | 0.05-0.1x | 0.080.0x | 0.09 | 0.07+0.1x | 0.18+0.1x | 0.120.0x | N/A |
| FCF Margin | N/A | N/A | N/A | 17.6% | -25.5% | 19.1% | -42.6%+22.3pp | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Where PHOENIX MOTOR INC Ranks
Frequently Asked Questions
What is PHOENIX MOTOR INC's annual revenue?
PHOENIX MOTOR INC (PEVM) reported $31.2M in total revenue for fiscal year 2024. This represents a 897.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is PHOENIX MOTOR INC's revenue growing?
PHOENIX MOTOR INC (PEVM) revenue grew by 897.9% year-over-year, from $3.1M to $31.2M in fiscal year 2024.
Is PHOENIX MOTOR INC profitable?
Yes, PHOENIX MOTOR INC (PEVM) reported a net income of $7.9M in fiscal year 2024, with a net profit margin of 25.5%.
What is PHOENIX MOTOR INC's EBITDA?
PHOENIX MOTOR INC (PEVM) had EBITDA of -$29.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does PHOENIX MOTOR INC have?
As of fiscal year 2024, PHOENIX MOTOR INC (PEVM) had $764K in cash and equivalents against $138K in long-term debt.
What is PHOENIX MOTOR INC's gross margin?
PHOENIX MOTOR INC (PEVM) had a gross margin of 22.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is PHOENIX MOTOR INC's operating margin?
PHOENIX MOTOR INC (PEVM) had an operating margin of -99.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is PHOENIX MOTOR INC's net profit margin?
PHOENIX MOTOR INC (PEVM) had a net profit margin of 25.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is PHOENIX MOTOR INC's return on equity (ROE)?
PHOENIX MOTOR INC (PEVM) has a return on equity of 76.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is PHOENIX MOTOR INC's free cash flow?
PHOENIX MOTOR INC (PEVM) recorded an outflow of $2.1M in free cash flow during fiscal year 2024. This represents a 45.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is PHOENIX MOTOR INC's operating cash flow?
PHOENIX MOTOR INC (PEVM) recorded an outflow of $1.9M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are PHOENIX MOTOR INC's total assets?
PHOENIX MOTOR INC (PEVM) had $57.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are PHOENIX MOTOR INC's capital expenditures?
PHOENIX MOTOR INC (PEVM) invested $113K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is PHOENIX MOTOR INC's current ratio?
PHOENIX MOTOR INC (PEVM) had a current ratio of 1.98 as of fiscal year 2024, which is generally considered healthy.
What is PHOENIX MOTOR INC's debt-to-equity ratio?
PHOENIX MOTOR INC (PEVM) had a debt-to-equity ratio of 0.01 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is PHOENIX MOTOR INC's return on assets (ROA)?
PHOENIX MOTOR INC (PEVM) had a return on assets of 13.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
How does PHOENIX MOTOR INC's liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, PHOENIX MOTOR INC (PEVM) held $764K in cash, cash equivalents and investments, and reported an operating cash outflow of $1.9M over that year. Dividing the one by the other, the reported balance equals about 5 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is PHOENIX MOTOR INC's Altman Z-Score?
PHOENIX MOTOR INC (PEVM) has an Altman Z-Score of -1.70, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is PHOENIX MOTOR INC's Piotroski F-Score?
PHOENIX MOTOR INC (PEVM) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are PHOENIX MOTOR INC's earnings high quality?
For every $1 of reported earnings, PHOENIX MOTOR INC (PEVM) used $0.25 of operating cash (-$1.9M OCF vs $7.9M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can PHOENIX MOTOR INC cover its interest payments?
PHOENIX MOTOR INC (PEVM) reported an operating loss of $31.0M against $130K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.