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AWIN Nasdaq· AERWINS Technologies Inc.
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AWIN Nasdaq· AERWINS Technologies Inc.
Earnings report Q3 2023

AERWINS Technologies Inc. Reports Significant Decrease in Revenue for Latest Quarter

Segments of revenue

AERWINS Technologies Inc. reported total revenues of $36.9 million for the three months ended September 30, 2023. This represents a substantial decrease of 82.1% compared to the same period in the previous year.

Strengths

Despite the significant decrease in revenue, AERWINS Technologies Inc. has shown resilience in managing its operating expenses. Selling expenses remained relatively stable at $63,525, while general and administrative expenses increased to $1.76 million from $1.58 million in the previous year. Research and development expenses also decreased to a recovery of $46,402 from $1.91 million in the previous year. This indicates that the company has been able to control its costs effectively.

Challenges

The main weakness for AERWINS Technologies Inc. in the latest quarter was the substantial decline in revenue. Revenues dropped to $36.9 million from $206.8 million in the same period last year, representing a decrease of 82.1%. This decline can be attributed to various factors, such as changes in market demand, increased competition, or disruptions in the supply chain. The company should closely monitor these challenges and develop strategies to mitigate their impact on future performance.

Noteworthy

It is worth noting that AERWINS Technologies Inc. reported a net loss of $3.15 million for the three months ended September 30, 2023. This represents a decrease of 890.8% compared to the net loss of $145,426 in the same period last year. The significant increase in the net loss can be attributed to the substantial decrease in revenue and the impact of operating expenses.

Summary

AERWINS Technologies Inc. faced significant challenges in the latest quarter, with a substantial decrease in revenue of 82.1%. However, the company demonstrated strength in managing its operating expenses, keeping them relatively stable or decreasing in certain areas. The decline in revenue highlights the need for the company to address market demand, competition, and supply chain disruptions. AERWINS Technologies Inc. should focus on implementing strategies to improve revenue generation and closely monitor its expenses to achieve profitability in future quarters.

Source documents

Form 10-Q  filed on Nov 28, 2023
36 pages scanned

Reference data

Company financials Q3 revenue 36.9k
Analyst estimates Q3 EPS missed by NaN%
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