How did Phoenix Motor's revenue streams shift in Q2 2024 compared to previous quarters?

Phoenix Motor's revenue streams exhibited distinct shifts in Q2 2024, compared to the preceding quarters, primarily driven by changes in the company's business focus and operational performance. Here's a detailed analysis: 1. **Substructure Services**: In Q2 2024, the revenue generated from Substructure Services significantly increased to $5.67 million. This represents a substantial growth from the $2.93 million reported in Q1 2024. Such a substantial increase suggests a strategic emphasis on this segment, potentially indicating a phase of expansion or intensified operations within this area. 2. **Consultancy Services**: Concurrently, the revenue from Consultancy Services also saw a notable rise, with Q2 2024 recording $80769, an increase from $53846 in Q1 2024. This indicates a strengthening trend in this segment, possibly reflecting increased demand for consulting services or a more focused effort by the company to capitalize on this area. 3. **Comparative Analysis**: When compared to Q2 2023, which had revenues of $2.05 million for Substructure Services and $181538 for Consultancy Services, the current figures suggest a substantial improvement in both segments. This improvement is particularly pronounced in Substructure Services, underscoring the effectiveness of Phoenix Motor's strategic shifts and operational enhancements in this period. 4. **Latest Report Period**: The latest report period for Phoenix Motor is for Q2 2025, which implies that the data analyzed is from a period prior to the most recent reporting period. This means that while the Q2 2024 figures represent a snapshot of the company's financial performance at that time, they do not reflect the potential changes or developments that may have occurred in the subsequent quarters. In summary, Phoenix Motor's revenue streams demonstrate robust growth in both Substructure Services and Consultancy Services in Q2 2024, compared to the immediate previous quarter, Q1 2024. This trend indicates a successful strategic direction for the company, potentially laying a strong foundation for future financial performance based on its current business focus.