Financial Performance - Revenue for Q4 2024 was $0.99 million, a decrease from $1.08 million in Q3 2024 and consistent with Q2 2024[12] - Net loss for Q4 2024 was $5.22 million, compared to a net loss of $13.64 million in Q3 2024[9] - Adjusted EBITDA for Q4 2024 was a loss of $4.98 million, an improvement from a loss of $12.06 million in Q3 2024[18] - The total operating expenses for Q4 2024 were $2.95 million, a slight increase from $2.92 million in Q3 2024[9] Funding and Financial Activities - The company raised $19.5 million in February 2025 from At the Market and Equity Offerings[2] - The company initiated a share repurchase program in March 2025 for up to $2 million[6] - The company has no debt and expects to operate into 2026 with its current cash position[7] Product Development and Agreements - An exclusive distribution agreement was signed with Super Sonic Company Ltd. for golf carts in the U.S.[2] - The company launched the HF1 UTV in Q4 2024 and received prototypes of the FT1 motorcycle in February 2025[3][4] - Venom-EV placed an initial purchase order for $2.4 million under a supply agreement for golf carts[3]
Volcon(VLCN) - 2024 Q4 - Annual Results