Thunder Power Holdings, Inc. experienced a notable increase in operating expenses during Q4 2024, which was primarily driven by the closing of the Business Combination. This significant event led to a rise in professional expenses, amounting to approximately $0.4 million. Additionally, there was an increase of approximately $0.1 million in insurance expenses for the management of the Company after the business combination. However, the impact of these increases was partially offset by a decrease of share-based compensation expenses of approximately $0.2 million12.
On the revenue front, Thunder Power reported nil revenues for Q4 2024, which was consistent with the same period in 2023. The company has not yet generated revenue from the sale of EVs12.
In summary, Thunder Power's Q4 2024 financial results showed a notable increase in operating expenses, primarily due to the Business Combination, while revenue remained nil, indicating the company continues to operate at a loss until it achieves commercial scale.
4/14/2025 11:46am
