NASDAQ$FABC

StableX Technologies Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Announced year-end 2021 financial results and provided a corporate update.

AYRO reported record revenue in Q4, driven by record unit deliveries of the Club Car Current LSEV. The company began development of the next-generation 411 fleet vehicle model year 2023 refresh, called the ‘AYRO Z’, and expects to launch it by year-end 2022.

  • Achieved record revenue in the fourth quarter due to record unit deliveries of Club Car Current LSEV.
  • Started development of the next-generation 411 fleet vehicle model year 2023 refresh, referred to as the ‘AYRO Z’.
  • Targeting launch of the AYRO Z by year-end 2022, designed for light-duty uses and featuring a major technology refresh.
  • Ended 2021 with a cash balance of $69.2 million.

Headline financials

Total Revenue

$813K

Previous: $783K+3.9%
EPS (adj)

-$1.68

Previous: -$1.52-10.5%
Capital Expenditures

$25.7K

No prior period
Free Cash Flow

-$7.93M

No prior period
Net Income

-$7.78M

Previous: -$4.76M-63.6%
Operating Income

-$7.79M

Previous: -$4.97M-56.6%
Gross Profit

-$1.93M

Previous: -$342K-463.9%
Cash & Equivalents

$69.2M

No prior period
Total Assets

$78.1M

No prior period
Stock-Based Comp

$558K

No prior period

Revenue & EPS history

AYRO · Revenue · Quarterly

$813K

Q4 2021+3.9%vs Q4 2020
Beat estimate in 3 of 7 quarters(43%)
ActualEstimate

Forward guidance

AYRO anticipates a busy 2022 with the rollout of the AYRO Z, a next-generation light-duty electric truck. The company expects ongoing operating loss to narrow in 1Q22 and 2Q22 due to cost structure improvements. They also had one-time COGS expenses in 4Q21 related to the shift to a North American-based manufacturing and supply chain strategy that will not recur in future quarters.

Tailwinds

  • AYRO expects ongoing operating loss to narrow even further in 1Q22 and 2Q22 due to continued improvements in our cost structure.
  • AYRO is ramping our development activities for the AYRO Z.
  • AYRO had approximately $1.78 million in one-time cost of goods sold (COGS) expenses in 4Q21 related to the shift to our North American-based manufacturing and supply chain strategy that will not recur in future quarters.
  • AYRO aims to introduce the AYRO Z by year-end.
  • The AYRO Z is intended to be positioned for sale on the General Services Administration (GSA) schedule beginning in the fourth quarter of 2022.

Headwinds

  • Supply chain disruptions
  • Continued impact from the coronavirus epidemic
  • The costs, delays, and logistics of sourcing our components from China are less than ideal
  • AYRO has a history of losses and has never been profitable
  • The market for AYRO’s products is developing and may not develop as expected and AYRO, accordingly, may never meet its targeted production and sales goals

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

-0.8%

Avg return

Earnings day

-4.3%

Avg return

5 days after

-6.1%

Avg return

30 days after

38%

21 / 55 earnings

Positive

+31.1%

Q1 2015

Best reaction

-16.7%

Q4 2009

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2025+12.7%-22.2%+10.6%
Q2 2025-2.9%-10.2%-20.9%
Q1 2025+1.6%-4.9%+15.2%
Q4 2024+2.8%+2.0%-20.0%
Q3 2024-0.5%-5.1%+3.8%
Q2 2024+3.9%+15.3%+13.9%
Q1 2024-1.8%-1.8%-31.6%
Q1 2026+1.6%-6.6%-28.7%
Q4 2023-0.6%-7.2%-25.1%
Q3 2023+4.6%+18.3%+16.6%
Q2 2023-4.8%+4.8%-24.2%
Q1 2023-2.0%+7.8%+11.8%
Q4 2022+3.6%-5.4%+1.8%
Q3 2022-6.7%-8.3%-1.7%
Q2 2022+2.8%-1.8%-22.9%
Q1 2022+2.9%-6.7%+0.0%
Q4 2021-4.7%-11.4%-30.9%
Q3 2021-6.2%-17.6%-34.3%
Q2 2021+0.2%-5.5%-8.5%
Q1 2021+6.8%+15.9%+33.3%
Q4 2020+5.3%-0.8%-11.5%
Q3 2020-3.6%-5.9%+120.5%
Q2 2020-8.2%-15.6%-32.0%
Q1 2020+21.0%+23.5%-35.8%
Q4 2019-4.3%-19.1%+19.1%
Q3 2019-3.1%-1.6%-7.8%
Q2 2019+2.6%-3.8%+3.8%
Q1 2019-10.3%-23.8%-37.0%
Q4 2018-10.3%-23.8%-37.0%
Q3 2018+0.0%-7.5%-15.0%
Q2 2018-10.2%-10.2%-31.8%
Q1 2018-7.9%-3.0%-18.9%
Q3 2017-1.1%-1.7%-10.9%
Q2 2017-3.0%-4.5%-9.0%
Q1 2017-0.7%-6.7%+8.9%
Q4 2016-2.7%-3.4%-18.1%
Q3 2016-0.8%-1.6%+28.7%
Q4 2015+7.9%
Q2 2015-11.5%
Q1 2016-16.2%
Q1 2015+31.1%
Q4 2014+16.7%
Q3 2014-9.1%
Q2 2014+2.3%
Q4 2013+7.1%
Q3 2013-2.2%
Q2 2013-4.6%
Q4 2012+7.0%
Q3 2012-2.3%
Q4 2011-14.7%
Q2 2012-3.5%
Q2 2010-3.5%
Q1 2011+1.0%
Q4 2010-6.6%
Q4 2009-16.7%

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