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| Statement |
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| I'm really proud of the team for pushing so very hard to keep us on the path, on the track and allowing us to continue to deliver on what we said we're going to deliver on |
| And that's continuing to grow and provide another revenue opportunity for us |
| It's road tested, and it's got a bright future with that many vehicles operating on the road today |
| Question two: Can you tell me about the recent production and manufacturing activities? So, currently, as we just kind of reported out, the Arcimoto team has delivered a pretty solid quarter |
| What factors contributed to this growth? It's sharp execution on improving operational efficiencies as well as leveraging underutilized manufacturing equipment |
| We're continuing to see strength in our industrial and military markets with the MUV and our recent Matbock deal and are confident in the pipeline deals coming to fruition |
| They delivered a solid quarter, sharp execution and improving operational efficiencies, generated $1.7 million, just over $1.7 million in revenue and that's up 17% from 2022 |
| Next question: How do you feel about reaching the significant milestone of producing our 1,000th vehicle -- for your 1,000th vehicle? I'm very proud of this, naturally |
| And the team has been working incredibly well together on both ends |
| we're really excited about what the future holds for Arcimoto |
| I mean, in that, so with one continuing to scale production and leveraging that equipment is really what helped us generate that $1.76 million in revenue, that's got us up 17% from 2022 |
| So there's a huge opportunity for someone who wants to develop that land as well as increase overall dollars per square foot by conducting more contract manufacturing work, which we've been leveraging over the last few quarters |
| With Matbock's overall leadership and design in the military space, they brought many, many products to market and recently rolled out a tactical vehicle prototyping arm |
| We intend that our platform will provide a ready foundation for driverless technology development and are demonstrating that capability today |
| It's a big milestone |
| And then last question is, how do you envision the path to financial stability and long-term success in the EV market? Our long-term goal is to offer the market one of the most cost-effective, most efficient last-mile human and goods mobility platform for the future road of what we really see the future being |
| We're considering to see that strength, especially with the MUV and the military applications |
| How do you plan to balance costs of production and vehicles in order to achieve profitability? There's a drastic improvement from previous year, right, $17.4 million, confirming that our efforts to working on this that we're on the right path, right? It's moving in the appropriate direction |
| Total revenues for the second quarter of 2023, increase of 17% to $1.76 million as compared to the $1.5 million in the second quarter of 2022 |
| In June, we're excited to have produced our 1,000th vehicle |
| So, the cost reduction on the [indiscernible] of the manufacturing process, which we believe will tip into build a material profitability come the fall, which is exactly what we promised at the NASDAQ briefing in May |
| Year-to-date, June 30, 2023, revenue increased by 45% to $3.1 million as compared to $2.1 million in 2022 |
| And so, we -- I mean we here at Arcimoto, we understand that we're ahead of the curve, and we think that this is what the future of mobility will look like |
| In Q2, we were able to produce 94 units, at least -- well, for the first half of the year |
| So, really it's getting production lined up and efficient and getting our cost savings down on the [indiscernible] and now we could scale out with sales, and now you're starting to see that with things such as the Matbock deal |
| I said, $1.76 million in revenue, which puts us up 17% |
| The funds raised from the sale will play a pivotal role in scaling the production, investing in Arcimoto-owned dealerships and advancing our cost-out efforts, which with some of the data that I just briefed you can see that we're clearly on the right path and that is indeed working |
| So we're on track, and we're doing exactly what we said we were going to do |
| This allows us to free up the capital, so -- that's currently locked up in the factory, so that we can apply that to growing current production to meet the oncoming demand |
| Next question: Arcimoto's total revenues this quarter increased by 17% compared to the same period in 2022 |
| Statement |
|---|
| So, this is a product that's out there solving really -- real problems for real customers |
| So, as far as activities, those would be the really biggest hits |
| The company incurred a net loss of approximately $13.2 million or approximately -- or $1.71 per share in the second quarter of 2023, compared with a net loss of $17.4 million or $8.80 per share for the [same year] (ph) period |
| Next question: Arcimoto had a net loss of $13.2 million |
| That is a really big swing to see year-over-year |
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