Ayro Inc Stock Price, News & Analysis

AYRO, Inc. (Nasdaq: AYRO) has provided a strategic update as of February 17, 2022, focusing on initiatives to enhance its supply chain by shifting from Asia to North America, aimed at reducing delivery times and costs. The demand for low-speed vehicles (LSVs) for food delivery is strong, supported by partnerships with Club Car and Gallery Carts. AYRO has cut senior staff expenses by 40% to control costs. As of September 30, 2021, AYRO maintains a healthy cash position of $77M with no debt. The company anticipates record revenue in Q4 2021 and continues to evaluate capital deployment options.

On December 14, 2021, AYRO, Inc. (Nasdaq: AYRO) held its Annual Meeting of Stockholders, where seven directors were elected for a year. The company expects record revenue for Q4 2021, attributed to increased unit shipments. CEO Thomas M. Wittenschlaeger emphasized a strategic review of operations, including on-shoring component sourcing to counter supply chain disruptions. AYRO is actively evaluating its partnerships and cost structure to enhance value and align expenses with product development.

AYRO, Inc. (Nasdaq: AYRO) reported financial results for Q3 2021, posting a revenue of $559,370, representing a 44% year-over-year increase. However, the company incurred a net loss of $12.0 million and an adjusted EBITDA loss of $8.2 million. As of September 30, 2021, AYRO held $77.1 million in cash with no debt. A total of $4.9 million in purchase orders for the AYRO Club Car Current, a new delivery vehicle, contributed to a backlog of $4.1 million. CEO Thomas M. Wittenschlaeger emphasized the importance of strategic evaluation to enhance shareholder value moving forward.

AYRO, Inc. (Nasdaq: AYRO) has rescheduled its third-quarter 2021 financial results release to November 15, 2021, shifting from the original date of November 11, 2021. This change also affects the previously planned earnings conference call, which will now be replaced by a business update call by the end of 2021. AYRO CEO Tom Wittenschlaeger expressed optimism about the company's resources and partnerships, indicating a focus on value creation in the electric vehicle and last-mile delivery markets.

AYRO, Inc. (Nasdaq: AYRO) will report its third-quarter financial results on November 11, 2021, before market open. The company's CEO, Tom Wittenschlaeger, and CFO, Curt Smith, will host a conference call at 8:30 a.m. ET to review these results and discuss corporate developments. Participants can join by calling the provided numbers or accessing the live webcast through the company's website. A replay of the call will be available until November 25, 2021. AYRO focuses on electric delivery vehicles and aims to provide sustainable solutions for last-mile delivery.

AYRO, Inc. (NASDAQ: AYRO) will showcase its all-electric delivery vehicle, the GODega, at the upcoming Food On Demand Conference in Las Vegas from November 10-12, 2021. Partnering with Gallery Carts, AYRO aims to demonstrate how its EVs can enhance food delivery services while supporting sustainability. The GODega is designed for diverse environments, offering onboard refrigeration and customizable branding. The conference will highlight the evolving food service landscape, with expected participation from key industry figures.

AYRO, Inc. (NASDAQ: AYRO) announced participation in the 2021 Global Fleet Conference, scheduled for October 26-28 in Miami. Kevin O’Rourke, AYRO's Director of Strategic Accounts, will join a panel discussing fleet electrification challenges. The conference aims to enhance understanding of fleet management among industry executives and stakeholders. O’Rourke expressed his anticipation in sharing insights on the hurdles faced by fleet operators transitioning to electric vehicles, alongside partners like Element Fleet Management.

AYRO, Inc. (NASDAQ: AYRO) has appointed Thomas M. Wittenschlaeger as its new Chief Executive Officer. Wittenschlaeger brings over 25 years of experience in technology-driven engineering and product development, having previously led NantMobility and served at FOX Factory. His appointment aims to enhance AYRO's position in the electric vehicle market. As an inducement, he was granted 450,000 shares of restricted stock, set to vest upon meeting specific milestones. Former CEO Rod Keller will continue as a consultant during the transition.

AUSTIN, Sept. 09, 2021 (GLOBE NEWSWIRE) -- AYRO announced that CEO Rod Keller will present at the H.C. Wainwright 23rd Annual Global Investment Conference, taking place virtually from September 13-15, 2021. The presentation will be accessible starting September 13 at 7:00 AM ET. Investors can register for the event online. Keller will also hold one-on-one meetings during the conference. AYRO specializes in manufacturing electric vehicles aimed at short-haul and last-mile delivery, emphasizing sustainability and customized solutions for fleets.