1. Cenntro's Q1 2025 revenue decreased 8.5% year-over-year. 2. Adjusted EBITDA loss improved to $4.0 million from $6.4 million. 3. Vehicle sales increased 34%, totaling 129 units sold in Q1 2025. 4. Significant orders received for vehicles in Spain and Japan. 5. Cenntro aims for US market revenue growth through model expansion.
Despite revenue decline, increased vehicle sales and improved EBITDA loss reflect positive trends. Previous experience shows that rising demand can offset short-term revenue declines, as seen in companies like Tesla during early growth phases.
The article provides critical financial metrics along with strategic insights on market expansion, which is likely to interest shareholders and potential investors. Overall market sentiment shifts toward electric vehicles enhance the article's impact.
Long-term growth potential exists as Cenntro expands its product offerings and geographic reach. Successful international orders may lead to sustained revenue increases over time.
FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Inc. (NASDAQ: CENN) (“Cenntro” or “the Company”), a pioneering innovator in electric commercial vehicles, with advanced, market-validated, and purpose-built vehicle and smart technology products, has reported its financial and operational results for the three months ended March 31, 2025.
First Quarter 2025 Financial and Operational Highlights:
Peter Wang, Chief Executive Officer, commented: “The first quarter of 2025 was underscored by continued international vehicle sales momentum across our product line. During the quarter we sold a total of 129 Electric Commercial Vehicles, compared to 96 vehicles in the prior year period, a 34% improvement. In the first quarter of 2025, our facility in Ontario, CA, assembled and delivered 14 vehicles to customers on the North American west coast.
“For the iChassis, we sold 27 units in the first quarter of 2025, although these units are not inclusive of the number of vehicles sold because iChassis is not considered a complete vehicle. The iChassis 100 is a smart chassis platform designed and manufactured by Cenntro, serving as a foundational component for autonomous commercial vehicles. At present, we exclusively manufacture autonomous commercial vehicles for third-party contractors in China, and in the 2024 calendar year we delivered more than 900 autonomous driving delivery vehicles incorporating the iChassis 100 in China. With strong demand for the iChassis platform and autonomous vehicle manufacturing capabilities, we are expanding our footprint in China and abroad.
“Several significant orders delivered in the first quarter continued to demonstrate global demand for our purpose-built electric vehicles...
First Quarter 2025 Financial Results
Net Loss |
$ |
(5,362,267 |
|
$ |
(7,755,896 |
About Cenntro Cenntro (NASDAQ: CENN) is a pioneering maker and provider of electric commercial vehicles (“ECVs”)... Forward-Looking Statements This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995... CENNTRO INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Expressed in U.S. dollars, except for the number of shares) UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
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