Arcimoto, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 16, 2021 at 03:16 am IST
Share
Arcimoto, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported revenue was USD 1.5 million compared to USD 0.683895 million a year ago. Net loss was USD 11.51 million compared to USD 4.64 million a year ago. Basic loss per share from continuing operations was USD 0.31 compared to USD 0.15 a year ago.
For the nine months, revenue was USD 3.61 million compared to USD 1.57 million a year ago. Net loss was USD 24.5 million compared to USD 11.94 million a year ago. Basic loss per share from continuing operations was USD 0.67 compared to USD 0.44 a year ago.
Arcimoto, Inc. is engaged in the design, development, manufacturing, and sales of electric vehicles. The Company has introduced six vehicle products built on the first Arcimoto platform that target specific niches in the vehicle market. Its flagship product, the Fun Utility Vehicle (FUV), for everyday consumer trips; the Deliverator for last-mile delivery and general fleet utility; the Rapid Responder for emergency services and security; the Cameo for film, sports and influencers; the Arcimoto Roadster, an unparalleled electric on-road thrill machine; and the Flatbed, the Company's solution for a right sized pickup truck. The Company introduced a second vehicle platform prototype, and the first product concept on that platform, a class III e-trike codenamed the Mean Lean Machine. The Company is also selling their TRiO motorcycle upgrade kit through Tilting Motor Works, Inc., which transforms a traditional two-wheeled motorcycle into a leaning three-wheeled motorcycle.