Maverick Electric on May 20, 2024 officially shared the financial report for the first quarter of 2024. As per the report, the company's revenue was 504.7 million yuan, a year-on-year increase of 21%. Now, let's check the gross profit below.
Maverick Electric shared its Q1 2024 revenue
As per the fresh report, the gross profit margin was 18.9%, compared with 21.7% in the first quarter of 2023; the Net loss was 54.8 million yuan, compared with net loss of 60.3 million yuan in the same period in 2023.
Not in accordance with U.S. GAAP, the adjusted net loss was 48.5 million yuan, compared with a net loss of 46.1 million yuan in the same period in 2023.
The company sold 129,139 electric vehicle units, a year-on-year increase of 36.8%. Sales of electric vehicles in the Chinese market were 110,115 units, a year-on-year increase of 35.1%.
The sales volume of electric vehicles in the international market was 19,024 units, a year-on-year increase of 47.6%.
