Earnings call transcript Q4 2022

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Operator

Greetings. And welcome to the Ideanomics Fourth Quarter and Full Year 2022 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]

conference recorded. this reminder, a is being As It Tony Relations. Sklar, my pleasure your host, to introduce Senior is now Vice President, Investor you. Thank Please go ahead.

Tony Sklar

quarter Thank the earnings welcome And call. and fourth conference you, XXXX full everyone year Operator. Ideanomics to

have Officer. Joining our Alfred Johnston, Chief Chief pleased Robin Mr. Stephen Poor, Financial Mr. Mr. Officer; me Officer; Mackie, am today, our I to Executive Chief Operating

of and website will of archived and minimum Events today’s for the corporate our call be days. Presentations webcast of A in section XX a available

As a call conference is being recorded. reminder, this

During dialogue risks, and the current our and statements or subject are and the call, such we These uncertainties will make variety today assumptions. on quarter regarding forecasts expectations to forward-looking a statements and current full as XXXX. based expectations fiscal information year our available of revenue are of for as

results risk various our result differ factors described materially filings that with Actual as in a fully SEC. the periodic more of may are

forward-looking reliance we result, caution a these As placing you undue on statements. against

We information or update assume new as by required result except any as law. a no forward-looking events, of statement obligation to

are other Exchange be more Commission, at can described Ideanomics public in risks filings Securities with which addition, In viewed www.sec.gov. and the the U.S. fully

with the and Today, March XXXX, issued Form announcing the company year this XX-K for release XX, QX XXXX press SEC filed full a afterwards and financial results.

of provide summary done wish to may a so, look results on participants already call. documents may call this as those have So on we not who at this those

revenue financial strategy, Mr. will be today, our and our speak and to will Stephen giving on be today’s including including to value milestones. The the Poor speak product and generation on management’s make Mr. call. Q&A. profit will company’s which our the Mackie prerecording. closing our call as made company’s revenue, will Robin Johnston followed. speak growth, be format margin, Alf Poor company’s expenditures, performance, Mr. major for to comments in our coming will a followed the operating Alf earnings And cash will and then to operational programs by losses the since activities and gross last vision, remarks,

to my Ideanomics’ pleasure now CEO. floor is to It Alfred over hand Poor, Mr. the

Alfred Poor

revenue, Thank everyone we to we earnings were charging progress where progress whether the able to pipeline. continue demonstrate Difficulty] you our across immediate services and apparatus to you, for joining offer, future. and [Technical able be confidence or vehicles, to there today. but and received products were the The call product well meaningful year, not Tony, us we was with the thank businesses, us provide and

our revenue approximately charging challenges, and is of million revenue million XXXX. generated EV businesses $XX That in in compared those approximately Despite in to XXXX. $XX

in distributors Energica products significantly there of demand see for grew these it our and and was through motorcycle markets. to sell agriculture and both XXXX. businesses is Solectrac Both in the dealer pleasing the

signaled Inflation on the to to U.S. commercial key XXXX, the and the commercial was Hybrid Act and of market slower ready introduction EV core orders late remarkably operators than of of finally projects our well XXXX. September developed second U.S. agreements that that in of move fleet half XXXX, has in Hybrid, Outside fleets in landing in into the the so continued several industry. growth was government anticipated Reduction supporting

Difficulty] that anticipation sector will incentives By introducing for, in to of. business build EV the we start waiting grants has to anticipate commercial and [Technical the the industry our been show

charging six for act were as infrastructure late applications first some months the earlier this XXth. for becoming open was September, funds passed though Even month the just brands are meaningful in submission on available, ago March

lot being thousands from dollars, something millions loan activity applications hundreds for the federal a and dollars with to has of of This submitted. of government some of hundreds context require grant the Ideanomics Ideanomics. land focused here, of For latter additional range both to which favorably and will local

Our first, more begins the share But position EV of want shortly and financials to three us operations. to through as mature. will talk market CFO, to in the to commercial Stephen we I have succeed Robin will help done examples XXXX Johnston, run of work

enabled in First, building to Ideanomics’ system. direct school been have secure to Pegasus. investments that the order a units maker first school on announced Texas At school buses order into Work Pegasus chassis. with VIA million Pegasus the Truck Motors company bus is XXX their $XXX electric VIA sold Week March,

van EAVX, solution parent an The also with. class JB which VIA of fleets, Work has to Poindexter Poindexter, an Truck company vehicle with XIb at electric is part federal van. ideal for saw the established partnership develop EAVX’s established is delivery Week. a I which relationships

March acquired over in Energica of XX% we year. of last Second,

Over has the unleashing begun potential. showing the Ideanomics We motorcycle months, started last performance Energica’s Energica makes what here. world higher XX by electric

Hollywood of Leno’s We Jay on featured EGO the film leaders for introduced exceptional the and in Ribelle which the points Summit this These Energica’s was The EsseEsseX GXX from and all EsseEsseX+ Garage, ability past to Peele’s produce are in see Energica on Motorcycle Nope during Jordan can proof Bali world YouTube. you November. products.

motorcycle each set see getting screen, you passionate XX no his to On time record. smashing motorcycle the Ali Energica Adbo. miles Record more ride Guinness issues. in the on Ali an this riders record rode to journey with than educated on a He can I EsseEsseX longest year. We and look a for during more and COPXX. forward days World X,XXX electric set celebrated

capacity. continue Finally, production sales we increase to and our

For dedicated assembly tractor example, Solectrac North in electric largest the America. now facility operates

in Solectrac’s team, Girish there’s the at assembly of screen, On a one picture of facility Windsor, California. our Sawant,

in he will in in Notably, by expansion strengthens and This Solectrac more tractor increased when which agricultural XXX%. faster over of California, sector it the debut Girish our later assemble this has production efficiently and eXX facility and tractor electric to position the capacity be market. the solved sell ready decades year. fast-growing experience we

who call, of towards some our Stephen of I in XXXX speak will in strategy I you be would Johnston, XXXX beyond. and will hand will through our and take to further about the reminded thought financial end you our results. it be investors But over now, I of useful achievements for to the

Stephen Johnston

and thank you the Alf, call. joining you, to for everyone Thank

Alf situation financial The adoption EV stress coming relief the every half is XXXX is there raise. EV capital first in XXXX. macroeconomic increased as harder signs the to lengthens runway As of was mentioned, experiencing company no and tough are and during of

the mind, this walk through numbers. With in let’s headline

transactional XXXX. $XXX.X Ideanomics result as estate revenue The of real revenue, XXXX, in U.S. the compared in a reported to is our escrow For down XX% market. interest rates significant decrease reduction business million a lower increased due primarily title and to in in volumes driving

volume, $X.X with Gross in the negative EV unabsorbed result significant profit XXXX a $XX.X demand compared and as was million of title the for costs fixed to the of escrow catch product. as expands for transactional million, XXXX, in up production company to effect and decline capacity primarily

volume our including acquisitions XXXX a $XX.X EV-related impact two-thirds the for This unit attributed to of and increase the and than year full is and In EVs XXXX, businesses. result those $XX.X More a in XXXX, previous revenue, businesses increase of is XX.X% million. our sale made XXXX of of products produced compared in million, as year, the the services. charging-related to

indicator track. the most and is important from Revenues EV to services products

production We networks and on continue international products year-on-year of capacity generating our increases more dealer revenue consistently from sale to expand. the EVs are domestic as and related

to to that you and some today in business situation fund investment. operations. among invest give peers. needs is capital We gain for The returns the capital Ideanomics I our XXXX, In plan to on the months. time This capital an EV our our in common next this generate XX requirements future. value a want our industry is perspective fact developing takes profitable

and enhancing at are for Solectrac, and Ideanomics businesses Funds our be charging Hybrid companies. recognition $XX development, These channels. capacity sales optimizing U.S. estimates with and topline to technology capital will million fund operations. and used brands production new further brand established product distribution Energica, and growth expenditures

For is our and we facility confident commencing able to and we to million the more advance be secure secure on that need. VIA, validation operations. $XXX in will we Based production manufacturing track anticipate record, vehicles production need of capital Ideanomics leadership in complete to than

technology is The that recognized and our market EV acknowledges respected.

Our leaders our there by experienced for growing products. is real and subsidiaries what demand most know and doing, are who importantly, they industry are managed

the customers want exists, in reflected that EV of fact are the up pull is This from and revenue sales products making. charging the demand we solutions year-over-year, are

demand our be fact, In We gap to capital where close this exceeds current need is production and invested. output. will that

Back Tony. to you,

Tony Sklar

hand to the who take much. you, to Mackie, now Robin floor our time Operating verticals Stephen, in Officer, Ideanomics’ Thank more over energy the mobility detail. and Chief will to I’d discuss And like very

Robin Mackie

you, Thank Tony.

preserve cost XX% performance in in and the continues execution business XXXX As quarter to disciplined efficient a shareholders one and be we year, the across including Last to reduction focus and took of fourth business. through value initial nearly and quarter a reminder, performance, XXXX. execution actions my on grow enhanced headcount management, our

significantly begun include take headcount to of steps some targeting peers a response steps of our number have industry incremental and Like plan These reductions, greater an of to costs. XX%. of our market reduce will consolidation we costs and to businesses, taking steps reduce conditions, who in reduction additional divestitures, all cost to cost

growth. into operating to financial additional reduce so, there costs the and businesses For our spin intend or divestitures, do where is to bring out sell fund to business we strategic capital our a case to and

cost headcount we reductions, in cost future line ability business bring growth. to and structure for to will regards with the capitalize With our our

that are the are is the our brand. of on to under recognition charging example solutions one one naming will I under our speak By of interest brand WAVE WAVE developed we WAVE. Charging. we the energy already begun, consolidating Charging, company touch already WAVE all a Charging point by capitalizing single all market, has consolidation

Charging’s Level developed for and a collaboration solutions platform with fleet reliable, As inductive charging client WAVE are designed technology powerful Client. operators in purposely charge, wireless commercial fleets. require. fast deliver a charging, our They DC X reminder, that These modern AC energy Google charging includes; charging

to future duties. with their electric a vehicle closely plan to their analyze full work fleet based and needs support and and customers will Charging WAVE on operations create operational their type our current

VIA is Charging together for Charging solution efficient, and preferred and will VIA’s solution work collaboratively. WAVE EV provider the trucks. closely to charging charging customers, operators. Together, will well WAVE electric VIA’s WAVE any integrated The teams engage as VIA fleet as work a Charging EV offer for customers other cost and

last well the as but forward. put all and to actions difficult, coming we in position in make as Some of they will be earlier discussed a quarters, to going and have I thrive up Ideanomics in made decisions service the the two to succeed are

to back Alf, you.

Alfred Poor

Robin. you, Thank

the -- I’d the filings by so. to on market days upcoming and of key share the Ideanomics’ will like floor also address in Before we market provide or to Ideanomics some XX strategy. information open macro questions, line more time a next conditions will I I

In on a terms of a to This and is will we the acquisition. its well will will Super of financial filing is transaction, the VIA the Motors for include filings, this April VIA XXth, X-K as file which or its significance for Motors, for the a the integration Ideanomics of given as VIA comprehensive as IDEX requirement referred business, our what projections. financials contain into outline audited before

I shareholders help bring would proposals in asking objectives to will Annual your intend to XXXX our to growth to like this file that year attention our early various XXXX. and Proxy to we we our vote support also be

reporting this hold first of we information you call. will for May, our earnings Ideanomics season We QX in in busy the half bringing forward look through XXXX. a Lastly, to

on strategy, I’d minimum and like to to address macro NASDAQ’s compliance our conditions requirement. with moving Before bid

will explore necessary continue the will meet possible we all course pathways remain No with of definitive Ultimately, a requirement. steps listed We products has to so. action and confident company we set. we are to and our we people, ensure take services been this to NASDAQ do

effects strategy, and be have as second unexpected of the the half system figures. I as Fed’s rate XXXX the the XXXX. mentioned, markets navigate third financial result entire is the order and have challenging U.S. conditions bank recent from and become has as of a been more hike and macro equally to to second likely Robin experiencing discuss of challenging interest Capital as To first half

as to to the and to taken have are time, taking further position ourselves explained, steps decisions Ideanomics difficult a business. we We to bolster strengthen this continue in put in Robin

subsidiary term are with in for in Ideanomics to non-equity-based sheets discussions the We at financing, both at also hand in active debt non-dilutive bring and levels.

With commercial billions of Ideanomics line has capital, Ideanomics access the a by that will position the growth anticipated developed vital to sector. EV roadmap in to with this the team leadership XXXX, revenue generate in

the delivery. in Charging, the and be EV market WAVE at providing fleet and mid-mile focusing continues opportunity growth integrated for an largest The supporting last are commercial on sector to charging solution and VIA we anticipated

Our growth business will U.S. generate our right Solectrac will now. which to Ideanomics view continue returns of revenue our for is the also that and Energica, businesses are shareholders. mature that this and best Hybrid, are support the generating

significant heart of for potential Made relationships At and products three increased strategy of and our the earmarked high incentives this unleashing value business local meet America solutions; our market that areas in grants of are; EV manufacturing benefit orders. from demand; ultimate introducing new The will particularly securing to production, technology full unit. and is the and deliver focus assembly to commercial objective,

the recovers. equity to is execution responsibility meaningful growth. increased enable driver customer Robin’s closing securing price share orders our of part As of to financing more devote roadmap main to our time and non-dilutive for is Successful until me

So price. concerned I today? are know our about what you share about

I to about is So about talk what Ideanomics it. want I. am doing

reminder, First, share a market There is The commercial price our are exceptions. being is a for big EV reason suffering. unfavorable conditions. no entire low industry

a This our beyond extent large control. is to

mentioned So leadership are to strategy to capture. is already execution. which focusing on cost and cash reducing revenue costs, plan sales our control, team spending focus Ideanomics we on to committed do resources directly burn. things control we are the further and Robin this

The there. already foundation the investments businesses in are

that So today. build where and XXXX we to made those us in are can get on investments XXXX we helped

is that transition generate Our of finalizing out why markets EV will and China. focus return is its the highest Ideanomics sales is on in that the

divestiture pull translate revenues JUSTLY progressing enable orders we the and and enterprise. in back can Timios to The share value investors to biggest to the The and is deliver is price improve their of investments. lever future remain sales. will to Procured confident more

significant in will improve order the previously helping and Through goal and book combination is our verifiable spending price fundamentals share growth, fleet orders. personally appreciate stated, a fueling be our involved controlled our accordingly. As to will brand of our

Thank forward you I your to and look questions.

Tony Sklar

on Thank you folks you very they Q&A. Alf. Anna, the if And ability call reminding their indicate how much, mind for wouldn’t can

Operator

Certainly.

Tony Sklar

you. Thank Go ahead.

Operator

Cantor The from Sheppard question Instructions] Andres coming is today ahead. Please first go Fitzgerald. [Operator of

Andres Sheppard

look on off for our questions. am everyone, start can acquisition want how Hey. and VIA. taking what give things details Good key morning, how closed if thanks I some wondering I and is monitor kind in see Thank since at -- the progressing to was there that it’s to the you acquisition progressing? with of maybe maybe to January of you. some are we us can

Alfred Poor

fill Robin, I to Go think, that you best question, call or may ahead. be that sorry. placed

Robin Mackie

we Good Thank also the on Alf has technology. the acquisition, Yeah. mentioned. on question. been But Andres. the sales, morning, focus you as of obviously, the Since are focused development has developing the very for

has skateboard which white developing coming been months. is the what alpha to as the our business only And also big milestone not the is the the next body current beta development and models, referred of in unique that technology, showcase will the but over

manufacturing should that a preparing the considering number that but that of answered time. in a progress we the that, the There’s on back and are search at need well facility, around be those are we for facility, this locations carrying out for to strategic number currently. also have advanced a already We are start in questions of of

Andres Sheppard

profit. gross slightly They helpful. relative Got revenue last Maybe down year. to to were very on it. and That’s Thanks, moving Robin. both

give there might mostly interest and expect the you we by little the and else strategy us in escrow in the maybe profit you. gross for I your volume. Thank to in remarks, as what wondering driven again, prepared if transactional You decreases what what to the am a mentioned and I led have decline rates higher think, the or XXXX? details revenue is more might here, can

Alfred Poor

Yeah. Thanks, Andres.

So growth to from see company will expect revenue the you year. this

really important things. of it’s a think I couple understand to

As revenues EV I jumped the mentioned the beginning, XXXX. on our at from side significantly

XXXX. can You XXXX over in to expect happen again that

will in there be two business, of out one Timios driven really the difference. factors rate is is it’s and very One interest China. because our are There transitioning that the year-over-year decline second

latter revenue of the significant those XXXX. half of in both businesses So contributed

you in those see you primarily. look you So fourth XXXX dramatically and revenue over easily, XXXX, which the Energica and Solectrac, don’t year-over-year when decrease back Hybrid U.S. happened just for growth quarter

so difference. businesses but the business, rate interest is those which as we very and So drop-off that business the in filled the the gap, also three Timios China year-over-year for speak, to down wind the sensitive reduction reason operations, in

Andres Sheppard

how on plus million looks that for Maybe need other That’s to raise you -- capital throughout in appreciate Thanks. VIA us I the moving to With for do this there, mobility needs, give the it. all So QX, present expectation million more is something can Just the $XXX Got that if Is you within year? or little businesses this cash the by are million million right? context context. the you $XX the Thank it would aiming QX very a you insightful. you of mentioned XXXX, than like raise? the -- raise more is quarter in next maybe as side. helpful. have to capital $XX to be today, goal $XXX you.

Alfred Poor

to important Yeah. investment. This really Andres, answer tremendous Ideanomics inbound the has want the I is all to interest a listen for investors clearly. very to so question,

the equity that price raise share it while to literally dozen have side, any we level can’t more today. pursue sheets or is We at our a money half meaningful but term is on really those the obviously,

speak important that non-dilutive understand. other are is about there to So I want areas to two and this

will ironically, the It are business, be the the have for cap the of which of sheets non-dilutive is fix excess in is assets currently, of market company. financing. debt. IP, convertible the far This term on the secured multiple we not is a loan. first debt The a table This against

be loan well. debt this to service an for a of based able at debt opportunity that some Ideanomics both level, will take there’s corporate but based lot in capital growth growth high and in businesses their we as growth potentially Energica loan also can to take So debt in our a the the of

best be we would doing cost, the are of these we the without business. The term very favorably appealing So are facilities, to as negotiate conditions not as us. these our for types are so market can They sheet difficult. to

The in bring two are these to we take than which opportunities range. the million $XXX $XXX So will somewhere more of capital. that million, very going sheets near-term are significant total in advantage term

part secondary non-dilutive, incentives. government is it, the the access of also But the grants which and is to

some have We significant in. applications

We are progressing very well.

are listing and the of we grants expect capital we and a We number and get applications the need finding backfill the from incentives. to of

But financing, typically we equity have like, recently. it loans. very us short-term the be we seen to hit do markets, But ability are the in so do land the confident need capital just will we to our

get to to grants We very the government access in ability confident are our incentive.

know, the would a what you Andres, are lost investor fleet haven’t as know EV. provide. commercial buying really on the unlocking lot community, it’s And they The I the of until key incentives government the operators to and been think, just those

as come also So we use but we a diluted the as government revenue, grants to and can start incentives financing. more can online, that capture

capital kind there needs believe those of two are for So XXXX. things in we the our linchpin

those close there, need different start two we points the and so time applications the We hit businesses. multiple the But we things, throughout can the and little on there’s to loan, confident they more is will we to are government the between stuff obviously year. takes grow at capital are capture a bit very

Andres Sheppard

Alf. Thanks, it. Got

it Any fruition bring something the half of the might that in timing first time that, year, in of in? on sense to second line, you is quarter, so kind quarter? And this take first the to the in place looking of are terms

Alfred Poor

the deals. prejudicing We without That’s I many are term are can best anything. negotiations on are in The negotiations. of it way sheets developed. final debt There say the rounds time this well

be order. close out So we to short will those in looking

in, it faster put we as sure can am I you work. we the money the probably bring the appreciate, to And faster

deals capturing So urgency get for the to side, the money. sense corporation, done well of on as we our as the just there’s right a but have

Andres Sheppard

maybe if it. last Alf. one, Got could. my Thanks, And I

unlock and raising given to, would In the you for terms help to have I and you stock, how of wondering as price the obviously, you what particularly you. sales Thank am than throughout stock are to here have sales other alluded But the again value year? the with trade, that. levels some maybe you other to increasing considering value raise try unlock strategies and

Alfred Poor

us number one do partnering imperfect the customers. I secure flagship a think And there’s deal, of this, industry. has from of is as and When commercial them, of market a you things the securing can help Andres. view orders know, you an that EV

XXX these market Pegasus that somebody not like understand, the VIA name because Poindexter, the a a So they companies. partners or partners are when with big with really private doesn’t it’s know, Fortune because

the But your commercial vans. as trucks very, brown companies know, the sector. to important these very Service EV also UPS current the neighborhood see you iconic and the of maker is you that are you Poindexter U.S. in Postal make

that does worth very them an a So and are with player partnership Motors. major revenue VIA organization of year a to like billions of is they valuable dollars

those what So to do to unlock with names. are those and is orders relationships we flagship those begin starting

right we sure folks that and our technologies. I one this can the way we think partner with I that’s am license do can

things only we be, Energica, direct-to-market, sell whoever partners. VIA, unique but also the not Ideanomics it’s of that sell One an it whether we stands, through do may

people going as stood be tech help We are will of prowess of the skateboard of And think have place point. names people take kind term well. process to I XXXX inflection technology, going and announced, for have and think drivetrain interesting technology players show one better a there’s be market selection the that taken significant notice will to aligning a and an I up prowess, that power got of being is at the naturally there’s Inside, some to Energica and Energica Motor calling those the the and that we we number because are that that have close VCU VIA that got are our and relationships of with

companies Ideanomics to well. We are going selection to and the order losers. the be and EV commercial be to the who year the help that’s and as and the point are de-SPAC this natural toughest are going at winners place to crystallize companies shareholders, sector the think growth That take companies for going I like is who for okay, going

Andres, as body We going is a know, A tech. really are different Differentiated Ideanomics technology We technology everybody out selling that the reason our way. else’s. the you of to be the And folks superior. important. in design, but unique are that own lot is there is products own the core.

brand is and think to I landscape start selection showing and process out I we think these to going as flock sales, in going time, do increase you then like these to EV revenue. And into when people a stock start At to less be play unlock this the that’s partnerships, the natural there’s shareholders name start in same Ideanomics.

Andres Sheppard

will Alf. on. you, my I pass you. on questions Thank it the congrats Thank and for quarter. That’s taking again Wonderful. it. thanks Again,

Alfred Poor

was to It talking you. Thanks. good lot. a Thanks

Operator

Dorien coming of is OMNIResearch. Thank Please you. question The next from Nunez ahead. go

Dorien Nunez

Thank me? you. hear you Can

Alfred Poor

Yeah, Dorien.

Dorien Nunez

Hello.

Alfred Poor

to to you. Nice speak

Dorien Nunez

Good. of what economic Thank impact status? think divestitures. your What’s focus be? you the are What’s much. very about to on the Okay. like timing and will statement I’d How there? the these you many

Alfred Poor

times. of about old business, have this we the certainly, story. is few a Well, on fintech the spoken side Dorien an

So the we have for fall the since Timios. process fall running early the -- of since around been a divestiture September

But have environment, a from the to but taking rate would by good have there’s the we parties. wrapped people are the usually interest certainly expected little given of bit multiple end interest external year, That more up process time.

quickly. to be out We spun spin either expect out that sold business or very or

some getting other in interest of well. businesses as And we our are some

obviously EV sector. our the commercial going of core EV be businesses So and is some our to

the right sell through and as businesses that if of be deal Ideanomics can distributors, graduate done, out like some an the well. of So Energica dealer

value production, rolled product of We plan order kind and XX% get teamed progress return other in level management was the the own the next revenues up them Ideanomics was the help the they and and of company, the increase idea to shareholders. always so by both of that for with was can they to eventually to That Energica. with XX% their for only

I really things businesses for at conditions quite us have in you but like, fold looking we ready certainly of the for are helping cost robust a and parts of Energica, Robin’s with don’t the types and of Charging assets. market controls, how different kind are are we our if the know seen of things overview with the can those

So divestiture will an are it, the for important of can when the value. be we part only shareholder company, right that but return terms

Dorien Nunez

And the similar at second if the looking timing, follow of next this second executing have looking year? you of year half you you looking or I could up. are the half a Do at sense are executing of at year, just question. to earlier Are you the

Alfred Poor

obviously, we high looking -- only of the I’d side, just to… assets if are the expect the The year. get like to fintech to be in done value, I EV first said half because, this of it’s

Dorien Nunez

Right.

Alfred Poor

Cantor, meaningful we and analyst technology … that’s the from Andres, EV for differentiated industry. product have

not the because shouldn’t cheap just the assets out are those go right. on So conditions market

make and within quickly depend to the market the is -- assets, the recovers performance So whether it’s how downturn. industry that we price really to stock extent it our some some sure EV will the of general on recover

Dorien Nunez

you very Okay. much. Thank

Alfred Poor

you. Thank

Tony Sklar

continue Thank you. email ir@ideanomics.com. if much Thank have them you to that your very much for do please you very questions, joining for we any this hesitate to questions the don’t you and We into thank everybody understand call.

that earnings We encourage any individual this I conclude to the to said, is have we community -- can reach investor’s and questions call. may that will you individually. our Ideanomics to time continue all answer today the this us for have out As and we

ir@ideanomics.com. You can questions send your into

newsletter analysts shareholders, to that earnings any time be the will the in channels, to our social call listeners, a the for to timely latest Relations and section today. will on from events listening our the find need. and like you our information explore website This SEC www.ideanomics.com. management, other to to link there. our taken our following you would who We be and listen recommend and information thank filings website on for I news, Thank those alerted sign participating for media us we Investor refer call. you call you our available everyone at have our and To in up

Operator

Ladies and gentlemen, thank you today’s This for your participation. event. concludes

and disconnect this the may of lines day. and off webcast log You your at rest your time enjoy the

Ideanomics (IDEXQ) 30 Mar 232022 Q4 Earnings call transcript