Arcimoto reports Q2 EPS ($1.71) vs. ($8.80) last year

Reports Q2 revenue $1.76M vs. $1.50M last year. “The Arcimoto team delivered a solid quarter. Sharp execution and improving operational efficiencies generated $1.76 million of revenue, up 17% from 2022. We are continuing to see strength in our industrial and military (government) markets with MUV and Matbock and are confident in pipeline deals coming to fruition. We also announced today our intention to sell our U.S. manufacturing facility contingent on a lease agreement. This allows us to be tactical about the space being used, to keep the areas we need for manufacturing and relinquish the areas unused to free up capital that is currently locked up in the factory’s equity. The capital from the sale coupled with our recent raise of $4.2M, will be used to extend our runway and allow us to continue working towards our goals.”