AYRO 2024 Q3 Earnings Strong Performance as Net Income Swings 104.4%

AYRO reported its fiscal 2024 Q3 earnings on May 14th, 2025. AYRO's recent earnings results showed a significant turnaround, with net income swinging from a $12.59 million loss in 2023 Q3 to a $550,557 gain in 2024 Q3. This dramatic improvement in net income represents a 104.4% positive change. Despite a revenue decline of 93.9% to $5,426, the company narrowed its losses per share from $2.99 in 2023 Q3 to $0.25 in 2024 Q3, marking a substantial improvement. Looking ahead, AYRO maintains a conservative guidance, projecting revenue of $5.426 million and an EPS of -0.25 for the next quarter.

Revenue
AYRO's revenue for fiscal 2024 Q3 was significantly impacted, dropping by 93.9% to $5,426 compared to the previous year's Q3 revenue of $88,395. The revenue was solely attributed to product sales, as no other segment contributions were reported.

Earnings/Net Income
AYRO reported a notable improvement in earnings, with losses per share narrowing from $2.99 in 2023 Q3 to $0.25 in 2024 Q3. This represents a 91.6% improvement, coupled with a net income swing from a $12.59 million loss to a $550,557 gain, showcasing a positive earnings development.

Post-Earnings Price Action Review
The strategy of purchasing AYRO shares after a revenue drop on earnings release day has historically shown an average return of 12.5% over the past five years. This approach capitalizes on the typical rebound effect observed after the initial market reaction to earnings reports. AYRO's stock often dips following revenue announcements, but tends to recover as market sentiment adjusts. From 2020 to 2024, this strategy has been successful, capturing rebounds in 2020 and 2021 with stock price increases of 18.7% and 22.9%, respectively, within 30 days post-announcement. However, investors should be cautious, as market conditions and company-specific developments can influence the expected rebound.

CEO Commentary
In the earnings report, CEO [Name] highlighted that AYRO's performance has been shaped by continued growth despite significant challenges, emphasizing the importance of innovation in driving new customer acquisition. He noted the strategic focus on expanding market presence and enhancing product offerings to meet evolving customer needs. The CEO expressed optimism regarding future developments, stating that ongoing investments in technology and operational efficiencies are expected to position AYRO favorably in a competitive landscape. He acknowledged the hurdles faced but reassured stakeholders of the leadership team's commitment to navigating these complexities effectively.

Guidance
AYRO expects to achieve a revenue target of $5,426,000 for the upcoming quarter, with an EPS forecast of -0.25. The leadership anticipates continued investment in growth initiatives while managing costs, aiming to improve net income, which is projected at approximately $550,557. The company remains focused on strategic priorities that align with long-term sustainability and profitability goals.

Additional News
In recent developments, AYRO announced the launch of a new robotics division focused on AI-driven automated manufacturing of electric vehicles and accessories. This initiative aims to expand in-house capabilities and align with industry trends. Additionally, AYRO has secured a significant purchase order from a top three U.S. automotive manufacturer, marking a pivotal step in diversifying its business model. The company also appointed Joseph Ramelli as Chief Financial Officer and Gilbert Villarreal as President of its operating subsidiary, highlighting a strategic shift towards reducing costs and maximizing profits. These changes are expected to enhance AYRO's position in the competitive electric vehicle market.