DriveItAway Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2023
June 20, 2023 at 04:45 pm EDT
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DriveItAway Holdings, Inc. reported earnings results for the second quarter and six months ended March 31, 2023. For the second quarter, the company reported sales was USD 0.081573 million compared to USD 0.044686 million a year ago. Revenue was USD 0.067 million compared to USD 0.011029 million a year ago. Net income was USD 0.180621 million compared to net loss of USD 0.841086 million a year ago.
For the six months, sales was USD 0.136721 million compared to USD 0.103067 million a year ago. Revenue was USD 0.115083 million compared to USD 0.021646 million a year ago. Net loss was USD 0.540387 million compared to USD 1.09 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.31 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.31 a year ago.
DriveItAway Holdings, Inc. is a dealer-focused mobility platform that enables car dealers to sell vehicles through e-commerce, with its Pay as You Go application-based subscription program. The Company provide a comprehensive turnkey, solutions driven program with proprietary mobile technology and driver app, insurance coverages and training to get dealerships. The Company has expanded its consumer application, subscription to ownership platform to enable entry level consumers to drive and acquire new electric vehicles. It has developed a consumer-facing application and Web-based platform that allows any automotive retailer the ability to provide a subscription to ownership model for any consumer for both the consumer and the retailer. It works with franchise and independent dealers and is primarily a turnkey subscription dealer platform. Any consumer, regardless of credit, can go on its application, select a vehicle, sign for and pick up a vehicle, and have the subscription deal.