Ayro Inc Stock Price, News & Analysis

ROUND ROCK, TX / ACCESSWIRE / March 27, 2023 / AYRO, a designer and manufacturer of electric delivery vehicles, announced that CEO Tom Wittenschlaeger will join a virtual panel on March 30, 2023, at 4:00 PM ET during Maxim Group's Electric Vehicle and Auto Tech Conference. The discussion, moderated by Senior Industrials Analyst Tate Sullivan, will cover future opportunities in the electric vehicle sector amid growing adoption and technological advancements. Investors interested in the panel can register online through M-Vest. AYRO focuses on producing zero-emission vehicles, aiming for sustainable solutions.

AYRO, Inc. (NASDAQ:AYRO) reported a significant improvement in its financial performance for FY2022, with revenues rising 11% to $3.0 million compared to $2.7 million in 2021. The company's net loss decreased to ($22.9) million from ($33.1) million year-over-year. Adjusted EBITDA loss also improved to ($18.5) million from ($25.0) million. AYRO ended 2022 with $48.9 million in cash and no debt. The introduction of the AYRO Vanish, a utility low-speed electric vehicle, and a new dealer program highlight the company's focus on innovation and market expansion. Management anticipates ramping production and achieving sales in the third quarter of 2023.

AYRO, Inc. has been awarded U.S. Patent No. 11609098, marking its second patent of the year, focused on environmental impact cancellation in electric vehicles. This patent supports the company's SchlägerNull™ approach, aimed at creating vehicles with minimal ecological disruption. The patent encompasses technologies for limiting surface, electromagnetic, noise, thermal, and visual impacts. AYRO's CEO, Tom Wittenschlaeger, emphasized that sustainability is central to their design philosophy. The utility patent allows AYRO to exclude others from using the invention for up to 20 years, reinforcing its commitment to innovative and sustainable transportation solutions.

AYRO is set to report its year-end 2022 financial results on March 23, 2023, before the market opens. Management will hold a conference call at 8:30 a.m. ET to discuss the financial outcomes and provide updates on corporate developments. Interested parties can join via a domestic or international phone line, or through a live webcast. A replay of the webcast will be accessible until June 23, 2023, while a telephonic replay will be available until April 6, 2023. AYRO specializes in designing zero-emission vehicles focused on sustainability and innovative engineering.

AYRO, Inc. (NASDAQ:AYRO) will participate in the MicroCap Rodeo Winter Wonderland Best Ideas 2023 Conference from February 21-24, 2023. CEO Tom Wittenschlaeger will present a corporate overview on February 21, 2023, at 12:30 PM ET. Attendees can access the presentation via a webcast link. One-on-one meetings can be scheduled by contacting angie.wright@issuerdirect.com. AYRO focuses on designing zero-emission vehicles aimed at sustainability, with the AYRO Vanish being a key product. For more details, visit ayro.com.

AYRO, Inc. (NASDAQ:AYRO) is hosting its first live event featuring the new 2023 AYRO Vanish, a low-speed electric vehicle (LSEV), on February 13, 2023, at 1:30 PM EST. The Vanish bridges the gap between full-sized trucks and small utility vehicles, built with a lightweight aluminum frame for optimal payload. During the event, CEO Tom Wittenschlaeger and the engineering team will discuss the vehicle's design and technology. The live stream will be available via AYRO's social media channels, with a recording posted later for those who miss it. This event marks the start of a series of product launches aimed at sustainable transportation solutions.

AYRO has secured a significant milestone with the issuance of U.S. Patent No. D975591 for the design of the AYRO Vanish, marking its entry into intellectual property protection. This patent is the first among several pending filings, including two additional design patents and six utility patents centered on sustainability. AYRO aims to revitalize the stagnant low-speed electric vehicle (LSEV) market by offering customizable vehicle configurations that blend functionality with innovation. CEO Tom Wittenschlaeger emphasizes the importance of intellectual property in enhancing enterprise value and advancing sustainable solutions.

AYRO, Inc. (NASDAQ:AYRO) has partnered with Masters Golf and Utility Vehicles in Ontario, Canada, marking the first collaboration under AYRO's new Dealer Program. This partnership will allow the AYRO Vanish to be available throughout Ontario and in Toronto, as the city looks to transition to electric fleet vehicles. Masters Golf, based in Oshawa, offers various utility cart solutions and has a fleet of 700 rental vehicles. The Dealer Program provides territory exclusivity, training, volume discounts, and financing options. Pre-orders for the AYRO Vanish will commence soon, signaling growth potential in the region.