Exro Technologies Reports Second Quarter 2025 Results

Core Viewpoint - Exro Technologies Inc. reported a decline in revenue for Q2 2025 due to slower electric vehicle adoption, while continuing its strategic review process and negotiations with potential partners [2][6]. Financial Results - Revenue for Q2 2025 was $2.9 million, down from $4.7 million in Q2 2024, attributed to reduced unit volumes [2]. - Gross margin per unit improved compared to the previous year, excluding inventory provisions [2]. - The net loss from continuing operations was $81.7 million, which included significant non-cash adjustments related to the company's strategic focus [2][7]. - The company accessed $10 million of a $30 million interim finance facility [6]. Strategic Update - The strategic review process initiated in May 2025 is ongoing, with active negotiations with credible strategic partners [2]. - The company completed a strategic wind-down of its Asia-Pacific operations while retaining intellectual property and key subsidiaries [6]. - A $48.5 million impairment of intangible assets was recorded, primarily due to the wind-down of APAC operations and updated production forecasts [7]. - An $11.1 million inventory provision was made to align inventory values with near-term production forecasts [7]. Company Overview - Exro Technologies Inc. specializes in power control solutions for electric vehicles and energy storage, having expanded through the acquisition of SEA Electric [3]. - The company offers innovative solutions such as Coil Driver™, Cell Driver™, and SEA-Drive®, aimed at enhancing the performance and efficiency of electric motors and batteries [3].