Content analysis
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New words:
acknowledged, added, advice, Alternate, alternatively, ASP, assumed, bad, Carlo, consecutive, counsel, drove, Duncan, Elliot, Emily, entry, footprint, invoice, Monte, pending, PIK, President, proportional, reliance, seventeen, simulation, split, subscription, summary, Theodore, uncollectible, worth
Removed:
carry, charged, description, founder, invest, promissory, rendered, representing, team
Financial report summary
?Management Discussion
- To provide readers with meaningful comparisons, the following analysis provides comparisons of the financial results for the three and six months ended June 30, 2024 and 2023. We analyze and explain the differences between periods in the specific line items of the Consolidated Statements of Operations and Comprehensive (Loss) Income.
- Vehicle builds represented 90.0% of the revenue for the three months ended June 30, 2024, compared to 98.9% for the three months ended June 30, 2023, and increased $4,164,874 for the three months ended June 30, 2024, as compared to the three months ended June 30, 2023. The primary driver of the revenue increase for the three months ended June 30, 2024 compared to the three months ended June 30, 2023 was the increase in average selling price per vehicle by $46,604 and increased production due to efficiency improvements. The increased average selling price contributed $1,160,110 to the increase in revenue and the increase in production contributed $3,004,714 to the increase in revenue.
- Used sales, parts and warranty revenue represent a small portion of our revenue. Those categories combined represented 10.0% of the revenue for the three months ended June 30, 2024, compared to 1.1% for the three months ended June 30, 2023, and an increase of $839,226 for the three months ended June 30, 2024, as compared to the three months ended June 30, 2023.