- **Revenue Milestone**: Q2 2025 revenue hit $7 million, highest in company history, driven by custom Mustang launches and retail channel growth.
- **Mustang Program Breakthrough**: First Mustang won industry award, with production ramping to achieve efficiency by unit #3. Program expands addressable market into American muscle cars.
- **Retail Channel Success**: Store locations accelerated inventory conversion, generating $21,000+ in upgrades per sale and validating high-touch customer experience.
- **Bitcoin Strategy Activation**: $500 million equity facility enables crypto payments and reserve accumulation, with first 21 Bitcoin buyers receiving $21,000 upgrade credit.

**【CEO Opening Remarks】**
- **Record Revenue Growth**: Q2 2025 revenue reached $7 million, a $0.5 million increase YoY, driven by bespoke demand and manufacturing efficiencies.
- **Mustang Program Launch**: Delivered first custom Mustang (Project Ghost), winning best of class at Route 66 Road Fest. Program expansion underway with multiple commissions.
- **Retail Expansion Success**: Stores in West Palm Beach and Nantucket contributed to backlog growth, generating $21,000+ in upgrades per sale and accelerating inventory conversion.
- **Cost Optimization**: Implemented $500 million equity facility for Bitcoin accumulation and growth initiatives, alongside 12-month debt repayment grace period.
- **Operational Efficiency**: Right-first-time strategy reduced errors, enabling shorter shipping times and faster revenue recognition.

**【CFO Financial Commentary】**
- **Revenue & Margin**: Q2 revenue $7 million (up 8% YoY), gross profit $1.4 million (down 33% YoY) due to 20% gross margin (vs. 32% YoY). Operating expenses $4 million (up 50% YoY) driven by non-cash equity compensation.
- **Liquidity Challenges**: Cash balance $0.6 million (down from $1.5 million at year-end), operating cash use $4.2 million, partially offset by $3.4 million in convertible notes.
- **Balance Sheet Actions**: Converted $12 million convertible debt to preferred stock, raised $1.7 million equity, and filed S-1 for 300 million shares to support NASDAQ compliance.

**【Q&A Highlights】**
- **Mustang Program Pipeline**: Unit #2-3 expected to achieve production efficiency, with awards validating craftsmanship. Backlog building with in-production units.
- **Bitcoin Financing Strategy**: $500 million facility for crypto payments, reserve accumulation, and business expansion (new retail units, production lines). First 21 Bitcoin buyers receive $21,000 upgrade credit as marketing incentive.

ECD Automotive Design, Inc. (ECDA) Q2 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

ECDA

ECDA fundamentals

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