PHOENIX MOTOR INC. Stock Price, News & Analysis

Phoenix Motor (NASDAQ:PEV) reported strong Q2 2024 financial results with revenue surging 937% to $12.03 million from $1.16 million in Q2 2023. Gross profit improved to $1.83 million from a loss of $0.06 million, while net loss decreased to $2.26 million from $3.18 million year-over-year. The company delivered five electric buses to UC Irvine and secured a contract for four buses with UC San Diego. Cash position strengthened to $1.40 million, and total equity reached $21.86 million. The company also appointed new COO and CFO, while successfully negotiating a waiver eliminating a potential $12 million convertible note issuance.

Phoenix Motor (NASDAQ:PEV) announces an exclusive live investor webinar and Q&A session scheduled for November 18, 2024, at 4:15 p.m. ET. The event, hosted by RedChip Companies, will feature presentations from CEO Denton Peng, CFO Michael Yung, and CCO Jose Paul. Phoenix Motor, a manufacturer of heavy-duty transit buses and electrification solutions, will showcase its achievements, including over 55 million all-electric miles driven, $30 million in fuel cost savings, and 16 million pounds of carbon emissions reduction. The company's product line includes electric shuttle buses, school buses, and utility trucks.

PhoenixEV, a division of Phoenix Motor Inc. (Nasdaq:PEV), has announced a project to deliver four all-electric transit buses to the University of California San Diego by early 2025. These 35-foot buses will help decarbonize last-mile transportation on campus, reducing particulate emissions and supporting the university's sustainability goals. The addition will bring UC San Diego's electric fleet to 20 percent.

CEO Denton Peng highlighted that this marks the third University of California campus to deploy PhoenixEV's zero-emission shuttles and transit buses. The project aligns with UC San Diego's commitment to decarbonization by 2045.

Phoenix Motor, operating under the brands PhoenixEV and EdisonFuture, specializes in designing, building, and integrating electric drive systems, as well as manufacturing heavy-duty transit buses and commercial EVs.

Phoenix Motor Inc. (NASDAQ:PEV) reported record financial results for Q1 2024, with net revenues increasing to $9.4 million from $1.8 million in the prior year period. The company achieved a net income of $14.8 million, or $0.49 per share, compared to a net loss of $2.8 million in Q1 2023. Key highlights include:

- Completed acquisition of Proterra's Transit business and battery lease portfolio
- Received order for six zero-emission electric buses from Raleigh Durham International Airport
- Formed partnership with InductEV for wireless vehicle charging technology
- Appointed new COO and CFO
- Raised $11.1 million through private placements
- Unveiled new branding and began production of fourth-generation drivetrain
- Announced plans for AI development center and Bitcoin payment option

PhoenixEV, a division of Phoenix Motor Inc. (NASDAQ:PEV), has announced its membership in the American Public Transportation Association (APTA), reinforcing its commitment to sustainable transportation solutions. This partnership grants PhoenixEV access to a network of industry leaders and advocacy resources in the public transportation sector.

As part of this initiative, PhoenixEV will be exhibiting at the upcoming APTA TRANSform Conference in Anaheim, California, from September 28th to October 2nd. Attendees can visit booth #125 to explore PhoenixEV's electric vehicle solutions for public transportation.

CEO Denton Peng emphasized the alignment between PhoenixEV's all-electric transit buses, paratransit buses, trucks, and infrastructure solutions with the transit industry's zero-emission goals. Interested parties can schedule meetings with PhoenixEV representatives at the conference by contacting sales@phoenixmotorcars.com.

Phoenix Motor Inc. (NASDAQ:PEV), a manufacturer of heavy-duty transit buses and electrification solutions provider, has rescheduled its Q1 2024 earnings call to October 3, 2024. The company reiterated its guidance for Q1 2024, expecting to report record revenue of $9.4 million, surpassing the previous guidance of $8-9 million. This represents a significant increase from the $1.8 million recorded in Q1 2023. Phoenix Motor also anticipates reporting record gross profit and net income for Q1 2024.

The earnings call is scheduled for October 3, 2024, at 4:30 p.m. ET. Interested parties can join via phone or webcast. A replay of the call will be available until October 17, 2024.

Phoenix Motor (Nasdaq: PEV) has rescheduled its Q1 2024 earnings call to September 23, 2024, at 4:30 p.m. ET. The company reiterates its record revenue guidance for Q1 2024, expecting to report $9.4 million in revenue, surpassing the previous guidance range of $8-9 million. This represents a significant increase from the $1.8 million recorded in Q1 2023, which was the company's previous record quarter.

Phoenix Motor, a leading manufacturer of heavy-duty transit buses and electrification solutions provider, also anticipates reporting record gross profit and net income for Q1 2024. The earnings call will be accessible via phone and webcast, with a replay available until October 7, 2024.

Phoenix Motor Inc. (NASDAQ:PEV) has received a delinquency notification letter from Nasdaq due to non-compliance with Listing Rule 5250(c)(1). The company failed to timely file its Quarterly Reports on Form 10-Q for the periods ended March 31, 2024, and June 30, 2024. This follows a previous notification received on May 22, 2024, for the March 31 filing.

Phoenix Motor has until November 18, 2024, to regain compliance by submitting all delinquent filings. The company must provide an updated compliance plan by September 3, 2024. While the delinquency has no immediate effect on the stock's listing, failure to meet Nasdaq's requirements could lead to potential delisting. Phoenix Motor is working to complete and file the overdue reports as soon as possible.

Phoenix Motor Inc. (Nasdaq: PEV) has rescheduled its Q1 2024 earnings call to September 9, 2024, at 4:30 p.m. ET. The company reiterates its guidance for record revenue of $9.4 million in Q1 2024, surpassing the previously issued range of $8-9 million. This represents a significant increase from the $1.8 million recorded in Q1 2023, which was the previous record quarter. Phoenix Motor, a leading manufacturer of heavy-duty transit buses and electrification solutions provider, also expects to report record gross profit and net income for Q1 2024. The earnings call will be accessible via phone and webcast, with a replay available until September 23, 2024.