ECARX Set to Report Q4 and Full Year 2024 Financial Results: What Investors Need to Know

ECARX Holdings Inc. (Nasdaq: ECX), a global mobility tech provider, has announced that it will release its fourth quarter and full year 2024 financial results on Tuesday, March 11, 2025, before U.S. market opening. The company will also host an earnings conference call and webcast at 8:00 a.m. U.S. ET on the same day. Management will discuss financial results and take questions from analysts and institutional investors during the call.



As of June 30, 2024, ECARX's total revenue was RMB1,257.5 million (US$173.0 million), up 31% year-over-year (YoY). The sales of goods revenue was RMB943.6 million (US$129.8 million), up 41% YoY, primarily driven by the continued growth in global demand and the ramping up of the Antora series digital cockpit and autonomous driving control unit (ADCU) sales volume. The service revenue was RMB257.4 million (US$35.4 million), up 45% YoY, mainly due to the service completion and delivery of the new Antora series vehicle programs and Volvo EX30 market expansion.



ECARX's strategic expansion into new markets, particularly Europe, has significantly contributed to its financial performance and growth prospects. The establishment of a new office in Stuttgart, Germany, in February 2024, has allowed the company to better serve its European clients by offering tailored software solutions and enhancing customer support. This expansion has enabled ECARX to:

1. Strengthen its global footprint: With offices in the UK, USA, Sweden, China, and Germany, ECARX has expanded its presence to better cater to the needs of its international clients, fostering stronger connections with leading automakers.
2. Accelerate the future of software-defined vehicles: The new Stuttgart location has facilitated the development of applications for ECARX's key product lines, such as digital cockpit computing platforms, digital cockpit software stacks, and central computing platforms. This has enabled the company to bring world-class technologies to market more quickly, reducing cost, complexity, and enhancing robustness.
3. Enhance financial performance: ECARX's revenue growth, driven by its expanding global footprint and innovative product offerings, has positioned the company at the forefront of the automotive technology landscape.

As of June 30, 2024, over 6.9 million vehicles on the road incorporated ECARX technology, a 32% increase from last year. The company has secured new design wins, primarily for overseas markets, including one from a well-known European automaker that builds upon its existing mass-production project from the first quarter of 2024.



ECARX's partnership with Microsoft and integration of large language models (LLMs) have significantly enhanced its competitive position and potential for future growth. By leveraging Microsoft Azure OpenAI Service and Azure Cloud Computing Services, ECARX can now offer advanced intelligent cockpits and autonomous driving solutions, setting it apart from competitors. This strategic move allows ECARX to capitalize on the rapidly evolving opportunities presented by LLMs, which are transforming the automotive industry. By integrating LLMs into its products and solutions, ECARX can provide a more intuitive and connected user experience, ultimately driving safer, smarter, and more enjoyable travel experiences for drivers worldwide.

In conclusion, ECARX's upcoming financial results release and conference call present an excellent opportunity for investors to gain insights into the company's performance and growth prospects. With its strong global presence, innovative product offerings, and strategic partnerships, ECARX is well-positioned to continue its impressive growth trajectory in the global automotive technology landscape.