Reported Q: Q2 2024 Rev YoY: -16.9% EPS YoY: +75.8% Move: +5.16%
EZGO Technologies Ltd
EZGO
$1.320 5.16%
Exchange NASDAQ Sector Consumer Cyclical Industry Auto Recreational Vehicles
Q2 2024
Published: Mar 31, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for EZGO

Reported

Report Date

Mar 31, 2024

Quarter Q2 2024

Revenue

4.29M

YoY: -16.9%

EPS

-0.79

YoY: +75.8%

Market Move

+5.16%

Previous quarter: Q1 2024

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Earnings Highlights

  • Revenue of $4.29M down 16.9% year-over-year
  • EPS of $-0.79 increased by 75.8% from previous year
  • Gross margin of 5.7%
  • Net income of -2.03M
  • "N/A" - N/A
EZGO
Company EZGO

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Executive Summary

EZGO Technologies reported QQ2 2024 revenue of USD 4.29 million, down 16.9% year over year, with a gross profit of USD 0.244 million and a gross margin of 5.69%. The quarter remains loss-making, with operating income of USD -1.64 million and net income of USD -2.03 million, translating to an EPS of -0.79. EBITDA was negative at USD -1.38 million, and the company posted a negative free cash flow of USD -7.03 million and an overall cash burn of USD -16.60 million during the period. The balance sheet shows a relatively strong equity base (USD 60.12 million) but a fragile liquidity position, with cash and cash equivalents of USD 0.66 million at period end and total current assets dominated by inventory (USD 28.05 million) and receivables. The current ratio stands at 4.02, yet the cash burn underscores a near-term liquidity risk absent additional financing or a material improvement in working capital efficiency.

Year-over-year improvements in profitability metrics (gross profit up 34%, operating income up 33.96% and net income up 57.74%; EPS up 75.84%) reflect some stabilization in cost structure and mix, but the business remains structurally unprofitable on a quarterly basis. Management commentary is not captured in the provided transcript data, but the reported metrics imply ongoing investments in R&D and SG&A, liquidity challenges from working capital inertia (notably inventory), and a heavy non-cash charge cadence that cratered net income. Investors should monitor whether EZGO can convert near-term losses into sustainable cash flow positives via inventory normalization, better utilization of long-term investments, an improvement in operating leverage, and potential monetization of non-core assets.

Key Performance Indicators

Revenue
Decreasing
4.29M
QoQ: 0.00% | YoY: -16.93%
Gross Profit
Increasing
243.90K
5.69% margin
QoQ: 0.00% | YoY: 34.00%
Operating Income
Increasing
-1.64M
QoQ: 0.00% | YoY: 33.96%
Net Income
Increasing
-2.03M
QoQ: 0.00% | YoY: 57.74%
EPS
Increasing
-0.79
QoQ: 0.00% | YoY: 75.84%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2024 6.28 -0.61 +16.7% View
Q3 2024 6.28 -0.61 +16.7% View
Q2 2024 4.29 -0.79 -16.9% View
Q1 2024 4.29 -0.79 -62.3% View
Q4 2023 5.38 -0.64 +108.4% View