Volcon ePowersports Reports Operational Highlights and First Quarter 2025 Financial Results
Volcon Inc. (NASDAQ: VLCN) reported its Q1 2025 financial results, highlighting several operational developments. The company successfully sold all remaining Grunt EVO motorcycles and signed an amended golf cart supply agreement with Venom-EV. Revenue for Q1 2025 was $0.7 million, down from $1.0 million in Q4 2024. The company posted a net loss of $2.46 million for Q1 2025, an improvement from the $5.22 million loss in Q4 2024.
Notably, Volcon faces challenges from newly imposed U.S. tariffs on imports from China and Vietnam, where their vehicles are manufactured. The company is evaluating options including U.S.-based assembly or accepting higher selling prices. Despite these challenges, CEO John Kim maintains that the company's strong cash position should sustain operations into 2026.
Volcon Inc. (NASDAQ: VLCN) ha comunicato i risultati finanziari del primo trimestre 2025, evidenziando diversi sviluppi operativi. L'azienda ha venduto con successo tutte le moto Grunt EVO rimaste e ha firmato un accordo modificato per la fornitura di golf cart con Venom-EV. Il fatturato del primo trimestre 2025 è stato di 0,7 milioni di dollari, in calo rispetto a 1,0 milioni di dollari nel quarto trimestre 2024. La società ha registrato una perdita netta di 2,46 milioni di dollari nel primo trimestre 2025, migliorando rispetto alla perdita di 5,22 milioni di dollari del quarto trimestre 2024.
In particolare, Volcon deve affrontare le difficoltà derivanti dai nuovi dazi statunitensi sulle importazioni dalla Cina e dal Vietnam, dove vengono prodotti i loro veicoli. L'azienda sta valutando opzioni come l'assemblaggio negli Stati Uniti o l'accettazione di prezzi di vendita più elevati. Nonostante queste sfide, l'amministratore delegato John Kim afferma che la solida posizione di cassa della società dovrebbe garantire la continuità operativa fino al 2026.
Volcon Inc. (NASDAQ: VLCN) informó sus resultados financieros del primer trimestre de 2025, destacando varios avances operativos. La empresa vendió con éxito todas las motos Grunt EVO restantes y firmó un acuerdo modificado de suministro de carritos de golf con Venom-EV. Los ingresos del primer trimestre de 2025 fueron de 0,7 millones de dólares, disminuyendo desde 1,0 millones en el cuarto trimestre de 2024. La compañía reportó una pérdida neta de 2,46 millones de dólares en el primer trimestre de 2025, mejorando respecto a la pérdida de 5,22 millones en el cuarto trimestre de 2024.
Es importante señalar que Volcon enfrenta desafíos debido a los nuevos aranceles impuestos por EE.UU. sobre las importaciones desde China y Vietnam, donde se fabrican sus vehículos. La empresa está evaluando opciones como el ensamblaje en EE.UU. o aceptar precios de venta más altos. A pesar de estos retos, el CEO John Kim sostiene que la sólida posición de efectivo de la compañía debería mantener las operaciones hasta 2026.
Volcon Inc. (NASDAQ: VLCN)은 2025년 1분기 재무 결과를 발표하며 여러 운영 발전 사항을 강조했습니다. 회사는 남아 있던 모든 Grunt EVO 오토바이를 성공적으로 판매했으며 Venom-EV와 골프 카트 공급 계약을 수정하여 체결했습니다. 2025년 1분기 매출은 70만 달러로, 2024년 4분기의 100만 달러에서 감소했습니다. 회사는 2025년 1분기에 246만 달러의 순손실을 기록했으며, 이는 2024년 4분기 522만 달러 손실에서 개선된 수치입니다.
특히, Volcon은 차량이 제조되는 중국과 베트남에서 수입되는 제품에 대해 미국이 새롭게 부과한 관세로 인해 어려움에 직면해 있습니다. 회사는 미국 내 조립 또는 더 높은 판매 가격 수용 등 다양한 방안을 검토 중입니다. 이러한 도전에도 불구하고 CEO 존 김은 회사의 탄탄한 현금 보유고가 2026년까지 운영을 지속하는 데 도움이 될 것이라고 확신하고 있습니다.
Volcon Inc. (NASDAQ : VLCN) a publié ses résultats financiers du premier trimestre 2025, mettant en avant plusieurs évolutions opérationnelles. L'entreprise a réussi à vendre toutes les motos Grunt EVO restantes et a signé un accord modifié de fourniture de voiturettes de golf avec Venom-EV. Le chiffre d'affaires du premier trimestre 2025 s'élève à 0,7 million de dollars, en baisse par rapport à 1,0 million de dollars au quatrième trimestre 2024. La société a enregistré une perte nette de 2,46 millions de dollars au premier trimestre 2025, une amélioration par rapport à la perte de 5,22 millions de dollars au quatrième trimestre 2024.
Il est à noter que Volcon fait face à des défis liés aux nouveaux tarifs américains imposés sur les importations en provenance de Chine et du Vietnam, où sont fabriqués leurs véhicules. L'entreprise étudie des options telles que l'assemblage aux États-Unis ou l'acceptation de prix de vente plus élevés. Malgré ces défis, le PDG John Kim affirme que la solide trésorerie de la société devrait permettre de soutenir les opérations jusqu'en 2026.
Volcon Inc. (NASDAQ: VLCN) veröffentlichte seine Finanzergebnisse für das erste Quartal 2025 und hob mehrere operative Entwicklungen hervor. Das Unternehmen verkaufte erfolgreich alle verbleibenden Grunt EVO Motorräder und unterzeichnete eine geänderte Liefervereinbarung für Golfwagen mit Venom-EV. Der Umsatz im ersten Quartal 2025 betrug 0,7 Millionen US-Dollar, was einem Rückgang gegenüber 1,0 Millionen US-Dollar im vierten Quartal 2024 entspricht. Das Unternehmen verzeichnete einen Nettoverlust von 2,46 Millionen US-Dollar im ersten Quartal 2025, eine Verbesserung gegenüber dem Verlust von 5,22 Millionen US-Dollar im vierten Quartal 2024.
Bemerkenswert ist, dass Volcon durch neu eingeführte US-Zölle auf Importe aus China und Vietnam, wo ihre Fahrzeuge hergestellt werden, vor Herausforderungen steht. Das Unternehmen prüft Optionen wie eine Montage in den USA oder die Akzeptanz höherer Verkaufspreise. Trotz dieser Herausforderungen betont CEO John Kim, dass die starke Liquiditätslage des Unternehmens den Betrieb bis ins Jahr 2026 sichern sollte.
- Net loss improved significantly to $2.46M in Q1 2025 from $5.22M in Q4 2024
- Operating costs decreased across all categories due to cost reduction initiatives
- Successfully cleared inventory by selling all remaining Grunt EVO motorcycles
- Strong cash position expected to sustain operations into 2026
- Revenue declined to $0.7M in Q1 2025 from $1.0M in Q4 2024
- Gross margin remained negative at -$45,334
- New tariffs on Chinese and Vietnamese imports threaten to significantly increase vehicle and part costs
- Product development timeline for new dual-sport motorcycle faces uncertainty due to regulatory and cost challenges
Insights
Volcon faces significant challenges with declining revenue, ongoing losses, and new tariff threats despite eliminating inventory and exploring new product lines.
Volcon's Q1 2025 results reveal a concerning revenue trajectory, with sales declining to
The company's gross margin situation has improved technically, with losses narrowing to
Operating expenses decreased across all categories to
The most significant strategic challenge facing Volcon is the April 2025 tariff implementation on imports from China, with potential expansion to Vietnam. This creates a critical business model dilemma: either absorb substantially higher import costs or undertake the complex transition to U.S. assembly operations. Given Volcon's already negative margins, passing these costs to consumers risks further demand erosion.
While management maintains they have sufficient cash to operate into 2026, the combination of declining revenue, persistent negative margins, and tariff uncertainties creates substantial execution risk. The anticipated dual-sport motorcycle launch in H2 2025 and amended Venom-EV golf cart agreement represent potential growth avenues, but both face timing and profitability questions in the current environment.
AUSTIN, Texas, May 09, 2025 (GLOBE NEWSWIRE) -- Volcon Inc. (NASDAQ: VLCN) (“Volcon'', the “Company” or “we”), the first all-electric, off-road powersports company, today reported its operational highlights and financial results for the quarter ended March 31, 2025.
Company Highlights:
| ● | Sold all remaining Grunt EVO motorcycles in Q1 | |
| ● | Signed amended and restated golf cart supply agreement with Venom-EV | |
| ● | Evaluating impact of tariffs on products | |
In the first quarter of 2025, Volcon successfully sold all remaining Grunt EVO motorcycles. The company has since received prototypes of a dual-sport motorcycle, which is currently in development. The primary goal is to make it available for sale in the second half of 2025. As of now, reaching this goal is dependent on testing, meeting on-road regulations, manufacturing costs, and the impact of tariffs.
As previously announced in February 2025, Volcon signed a golf cart supply agreement with Venom-EV LLC (“Venom”) to supply Venom with golf carts. In April 2025, the agreement was amended and restated to adjust payment terms and the percentage Volcon will be paid for each golf cart ordered under said agreement.
On April 2, 2025, the U.S. imposed tariffs on goods imported from certain countries including China and Vietnam, where Volcon’s vehicles are manufactured. On April 9, 2025, tariffs for China were increased while tariffs for Vietnam were deferred for 90 days. Further adjustments to these tariffs could occur. If the tariffs are put into place as proposed, they will significantly increase Volcon’s vehicle and part costs. The company is currently evaluating the option of importing parts and assembling vehicles in the U.S. The second option would be to continue to import vehicles and pay the higher tariffs, increasing the selling price of vehicles.
John Kim, CEO, notes “the international trade landscape is in a state of flux and the ultimate tariff structure is uncertain. We are working to navigate this uncertainty by evaluating how we can limit the impact of the tariffs and still sell our products profitably. Our cash position is strong and we still believe we are on track to operate into 2026, but we are continuing to evaluate where we can reduce costs further while we assess our options.”
Financial highlights:
| 3 Months Ended | ||||||||||||
| GAAP | March 31, 2025 | December 31, 2024 | September 30, 2024 | |||||||||
| Revenue | $ | 736,049 | $ | 986,916 | $ | 1,075,864 | ||||||
| Cost of goods sold | (781,383 | ) | (3,138,559 | ) | (10,294,720 | ) | ||||||
| Gross Margin | (45,334 | ) | (2,151,643 | ) | (9,218,856 | ) | ||||||
| Sales & Marketing | 510,957 | 774,026 | 470,692 | |||||||||
| Product Development | 388,523 | 519,483 | 528,352 | |||||||||
| General & Administrative | 1,561,657 | 1,660,627 | 1,916,712 | |||||||||
| Total Operating Expenses | 2,461,137 | 2,954,136 | 2,915,756 | |||||||||
| Loss from Operations | (2,506,471 | ) | (5,105,779 | ) | (12,134,612 | ) | ||||||
| Other Income (Expense) | 46,041 | (111,590 | ) | (1,503,866 | ) | |||||||
| Net loss | $ | (2,460,430 | ) | $ | (5,217,369 | ) | $ | (13,638,478 | ) | |||
The financial results presented herein are subject to change pending completion of the audit of the annual financial statements.
| ● | Revenue: The Company’s revenue for the first quarter of 2025 was | |
| ● | Cost of Goods Sold: Included in cost of goods sold for the fourth quarter of 2024 is a charge of | |
| ● | Operating Expenses: Operating costs for the first quarter of 2025 have decreased across all categories as we continue to focus on reducing operating costs while continuing to make investments in product sourcing and our sales team to continue to build our dealer network to generate sales of our new products. Our product development costs have declined in the first quarter of 2025 compared to the last two quarters of 2024 since we no longer develop our vehicles which reduced prototype costs and payroll costs due to lower headcount requirements. Our general and administrative costs have declined in the first quarter of 2025 due to lower legal fees due to the completion of settlements, lower product liability costs compared to the fourth quarter of 2024 and an adjustment for estimated franchise tax expense in the fourth quarter of 2024. | |
| ● | Net loss: Net loss for the first quarter of 2025 includes an insignificant amount of other income. Net loss for the fourth quarter of 2024 includes the recognition of a loss of Net loss for the third quarter of 2024 includes the recognition of a gain of | |
| ● | Adjusted EBITDA: Adjusted EBITDA for each quarter represents net loss adjusted to add back stock-based compensation, depreciation and amortization expense, interest expense, and the loss/gain on warrant liabilities. The Company’s adjusted EBITDA for the first quarter of 2025 was a loss of | |
For the latest Company updates, follow Volcon on YouTube, Facebook, Instagram, and LinkedIn. Investor information about the Company, including press releases, company SEC filings, and more can be found at http://ir.volcon.com.
About Volcon
Based in the Austin, Texas area, Volcon was founded as the first all-electric powersports company producing high-quality and sustainable electric vehicles for the outdoor community. Volcon electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience.
Volcon's vehicle roadmap includes both motorcycles and utility terrain vehicles (“UTVs”). Its first product, the innovative Grunt, began shipping to customers in late 2021 and combines a fat-tired physique with high-torque electric power and a near-silent drive train. The Volcon Grunt EVO, an evolution of the original Grunt with a belt drive, an improved suspension, and seat, began shipping to customers in October 2023 and sold out in March 2025. The Brat is Volcon's first foray into the wildly popular eBike market for both on-road and off-road riding and is currently being delivered to dealers across North America. In 2024, Volcon entered the rapidly expanding low speed utility vehicles (“LUV”) and UTV market and shipped its first production MN1 unit in October 2024. The new MN1 and HF1 products empower the driver to explore the outdoors in a new and unique way that gas-powered units cannot. They offer the same thrilling performance of a standard LUV / UTV without the noise (or pollution), allowing the driver to explore the outdoors with all their senses.
Volcon Contacts
For Media: media@volcon.com
For Dealers: dealers@volcon.com
For Investors: investors@volcon.com
For Marketing: marketing@volcon.com
For more information on Volcon or our vehicle line-up, visit: www.volcon.com
NON-GAAP RECONCILIATION
We believe presenting adjusted EBITDA provides management and investors consistency and facilitates period to period comparisons of operations, as it eliminates the effects of certain variations to overall performance.
The following table reconciles net loss to adjusted EBITDA:
| Adjusted EBITDA | 3 Months Ended | |||||||||||
| March 31, 2025 | December 31, 2024 | September 30, 2024 | ||||||||||
| Net loss | $ | (2,460,430 | ) | $ | (5,217,369 | ) | $ | (13,638,478 | ) | |||
| Share-based compensation (benefit) expense | 10,052 | 15,079 | 10,053 | |||||||||
| Depreciation and amortization expense | 40,754 | 92,568 | 72,332 | |||||||||
| Net interest expense | 36,412 | 33,417 | 83,334 | |||||||||
| Loss on repayment of May 2024 Notes | – | – | 1,470,554 | |||||||||
| (Gain) loss on change in fair value of derivative liabilities | (28,068 | ) | 94,413 | (53,724 | ) | |||||||
| Adjusted EBITDA | $ | (2,401,280 | ) | $ | (4,981,892 | ) | $ | (12,055,929 | ) | |||
Forward-Looking Statements:
Some of the statements in this release are forward-looking statements, which involve risks and uncertainties. Whether tariffs will change for products manufactured for us in foreign countries, whether we can continue to reduce costs and whether we have sufficient cash to operate into 2026. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC’s website, www.sec.gov.
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