Zapp Electric Vehicles Group Limited ( (ZAPP) ) has released its Q4 earnings. Here is a breakdown of the information Zapp Electric Vehicles Group Limited presented to its investors.
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Zapp Electric Vehicles Group Limited, listed on Nasdaq, is a British company focused on revolutionizing personal urban mobility through high-performance electric two-wheelers, notably the i300 model.
Zapp EV recently announced its fiscal year 2024 financial results, highlighting significant operational achievements including the launch of their new micro-factory in Thailand and the commercial rollout of their i300 electric vehicle. These developments position the company to scale production efficiently and expand its reach into the Asian and European markets.
Key financial metrics for the year include a net loss of $9.0 million, a substantial improvement from the previous year’s $222.1 million loss, primarily due to one-time expenses related to a business combination in 2023. The operating loss also decreased to $6.2 million from $7.8 million, and the company reported liquidity of $44.9 million under a standby equity purchase agreement. Strategic announcements include the completion of homologation in Thailand and the anticipated approval in Europe, paving the way for further market expansion.
The company’s management remains optimistic about the future, aiming for positive cash flow from operations starting in 2026. With its innovative design and scalable manufacturing model, Zapp EV is well-positioned to capture a share of the burgeoning global market for electric two-wheelers.
