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New words:
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Financial report summary
?Management Discussion
- Our results of operations are discussed in two separate sections: (1) Successor Results of Operations and (2) Predecessor Results of Operations. The Successor Results of Operations represent the results of operations of ELM from the applicable periods subsequent to its inception on August 20, 2020 through September 30, 2021, including the closing of the Business Combination and the SERES Asset Purchase on June 25, 2021. The Predecessor Results of Operations represent the results of operations of EVAP Operations up to the date of the closing of the SERES Asset Purchase on June 25, 2021.
- For the three months ended September 30, 2021, revenue was $0.1 million. The increase in revenue was due to sale of 5 units from our production of the Urban Delivery vehicles under an agreement with Randy Marion.
- For the three months ended September 30, 2021, cost of revenue was $0.1 million and consisted of costs associated with the sold Urban Delivery vehicles. Cost of revenue has been negatively impacted by higher shipping costs and higher cost of raw materials and supply constraints for key components. There was no activity for the period from August 20, 2020 through September 30, 2020.