AYRO Highlights Recent Accomplishments and Updates Stakeholders on its Current Business Strategy

Core Insights - AYRO has made significant progress in its business strategy, focusing on electric vehicles and sustainable transportation solutions [1] - The company reported a revenue increase of 25% year-over-year, reaching $5 million in the latest quarter [1] - AYRO is expanding its product offerings and enhancing its manufacturing capabilities to meet growing market demand [1] Business Strategy Updates - The company is prioritizing the development of electric delivery vehicles, targeting the logistics and last-mile delivery sectors [1] - AYRO has established partnerships with key industry players to enhance its market presence and distribution channels [1] - The company is investing in research and development to innovate and improve its product lineup [1] Financial Performance - AYRO's gross margin improved to 30%, reflecting better cost management and operational efficiencies [1] - The company reported a net loss of $1 million for the quarter, which is an improvement compared to the previous year's loss of $1.5 million [1] - Cash reserves stand at $10 million, providing a solid foundation for future growth initiatives [1]