Ayro, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2020
November 06, 2020 at 07:30 am EST
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Ayro, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2020. For the quarter, the company announced revenue of $388,654 against $265,481 a year ago. Gross Profit was $61,983 against $63,452 a year ago. Loss from operations was $2,389,060 against $2,077,879 a year ago. Net loss was $2,680,726 against $2,141,840 a year ago. Net loss per share, basic $0.13 against $0.77 a year ago.
For the nine months, the company announced revenue of $821,398 against $745,530 a year ago. Gross Profit was $175,935 against $167,991 a year ago. Loss from operations was $5,132,663 against $4,982,692 a year ago. Net loss was $6,006,735 against $5,214,578 a year ago. Net loss per share, basic $0.54 against $1.10 a year ago.
AYRO, Inc. designs and manufactures compact, sustainable electric vehicles for closed campus mobility, low speed urban and community transport, local on-demand and last mile delivery and government use. Its four-wheeled purpose-built electric vehicles are geared toward commercial customers, including universities, business and medical campuses, last mile delivery services and food service providers. Its vehicles provide the end user an alternative to internal combustion engine vehicles (cars powered by gasoline or diesel oil), for light duty uses, including low-speed logistics, maintenance services, cargo services, and personal/group transport in a quiet, zero emissions vehicle with a lower total cost of ownership. Its product, AYRO Vanish, offers three configurations, such as the Vanish Cargo Van Box, the Vanish Flatbed truck, and the Vanish Pickup Bed truck. The Vanish Cargo Van Box is a fully enclosed cargo box. The Vanish Pickup Bed truck is utilized for open air hauling.
AYRO, INC. 
