KISSIMMEE, Fla., Oct. 14, 2025 (GLOBE NEWSWIRE) -- ECD Automotive Design, Inc. (NASDAQ: ECDA), the (“ECD” or the “Company”), the world’s largest Land Rover and Jaguar restoration company known for its custom luxury builds, including bespoke Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs and Toyota FJs, today announced that it received written notice from Nasdaq on October 10, 2025, confirming that the Company regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a ...

Core Points - ECD Automotive Design, Inc. has been granted continued listing on The Nasdaq Stock Market by the Nasdaq Hearings Panel, allowing the company to maintain its listing while addressing specific conditions [2] - The company has demonstrated encouraging financial momentum with record quarterly revenue and an expanded product offering [2] - ECD executed a $500 million equity line of credit and converted $13.7 million in debt to preferred equity, along with an additional purchase of $1.1 million in preferred stock [3] Company Overview - ECD is the world's largest Land Rover and Jaguar restoration company, known for custom luxury builds including bespoke Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs [2] - The company was founded in 2013 and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 102 staff, including 67 craftsmen with a combined 66 ASE certifications [4] - ECD focuses on creating fully bespoke vehicles, designed through a luxury experience and hand-built over 2,200 hours [4] Compliance Requirements - The company must demonstrate compliance with the minimum bid price requirement of $1.00 for ten consecutive trading days by October 1, 2025 [6] - ECD is also required to meet the equity standard of at least $2.5 million in stockholder equity by January 7, 2026 [6]

Core Viewpoint - ECD Automotive Design, Inc. has received approval from the Nasdaq Hearings Panel to continue its listing on Nasdaq, contingent upon meeting specific conditions related to minimum bid price and equity standards [1][5]. Group 1: Company Overview - ECD is recognized as the world's largest Land Rover and Jaguar restoration company, specializing in custom luxury builds, including bespoke Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs [1][3]. - The company was founded in 2013 by three British automotive enthusiasts and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 102 staff, including 67 craftsmen and technicians with a total of 66 ASE certifications [3]. Group 2: Financial Actions and Compliance - To comply with the $1.00 minimum bid price requirement, ECD executed a 1-for-40 reverse stock split of its common stock on September 18, 2025 [2]. - In June 2025, ECD secured a $500 million equity line of credit and a lender converted $15.5 million in debt to preferred equity, along with an additional purchase of $1.1 million in preferred stock [2]. - The company aims to demonstrate compliance with the minimum bid price by achieving a closing bid price of $1.00 or more for ten consecutive trading days by October 1, 2025, and to meet the equity standard of at least $2.5 million by January 7, 2026 [5]. Group 3: Management Commentary - Scott Wallace, CEO and Co-Founder of ECD, expressed satisfaction with the Panel's decision, highlighting the company's recent financial results, which show record quarterly revenue and an expanded product offering [1].

Company Overview - ECD Automotive Design, Inc. is the world's largest Land Rover and Jaguar restoration company, specializing in custom luxury builds including bespoke Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs [1][2] - The company was founded in 2013 by three British automotive enthusiasts and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 102 staff, including 67 craftsmen and technicians with a total of 66 ASE certifications and three master level certifications [2] Recent Developments - ECD has corrected the CUSIP number for its post Reverse Stock Split common stock to 27877D203, effective from market opening on September 18, 2025, with trading continuing under the existing symbol "ECDA" [1] - The company emphasizes its commitment to quality, with each vehicle taking approximately 2,200 hours to hand-build, tailored to the client's specifications through a luxury design experience [2] Market Position - ECD combines classic English aesthetics with modern performance in its restored luxury vehicles, positioning itself uniquely in the automotive restoration market [2] - The company has expanded its offerings to include recently added models such as the Ford Mustang and Toyota FJ, indicating growth and diversification in its product line [2]

Core Points - ECD Automotive Design, Inc. will implement a 1-for-40 reverse stock split effective September 18, 2025, to increase its stock price above the $1.00 minimum bid requirement for Nasdaq listing [1][2] - The reverse stock split will reduce the number of outstanding shares from approximately 59,091,136 to about 1,477,278 shares, without changing the number of authorized shares or par value [3] - Shareholders holding shares electronically will not need to take action, while those with certificated shares will receive instructions from the transfer agent [4] Company Overview - ECD is the world's largest Land Rover and Jaguar restoration company, known for custom luxury builds including bespoke Defenders, Range Rovers, and Jaguar E-Types [1][6] - Founded in 2013, ECD combines classic vehicle aesthetics with modern performance, employing 102 staff, including 67 craftsmen with numerous certifications [6] - The company operates from a 100,000-square-foot facility in Kissimmee, Florida, and has a logistics center in the U.K. for sourcing restoration vehicles [6]

Core Insights - ECD Automotive Design, Inc. reported record revenue of $7.0 million for Q2 2025, up from $6.5 million in the same quarter last year, driven by bespoke demand and manufacturing efficiencies [5][7] - The company experienced a decline in gross profit to $1.4 million from $2.1 million year-over-year, primarily due to tariff impacts [5][7] - ECD's net loss increased to $4.3 million in Q2 2025, compared to a net loss of $2.0 million in the same quarter last year, attributed to reduced margins and increased general and administrative expenses [7][10] Financial Performance - Revenue for Q2 2025 was $7.0 million, a 7.7% increase from $6.5 million in Q2 2024 [7][9] - Gross profit decreased to $1.4 million, reflecting a decline of 32.8% from $2.1 million in the prior year [7][9] - Operating expenses rose to $4.0 million, an increase of $1.4 million from the previous year [9] - The operating loss for Q2 2025 was $2.6 million, compared to a loss of $0.5 million in Q2 2024 [10] Strategic Developments - ECD launched its first Mustang build in partnership with Roush Performance, expanding its product portfolio into the American muscle car category [6][8] - The company secured a $500 million equity facility aimed at accumulating Bitcoin as a primary reserve asset and funding growth initiatives [7][8] - Seasonal pop-up retail locations in Nantucket, MA, and West Palm Beach, FL, have contributed positively to order backlog and sales, serving as engagement hubs for the brand [6][8] Management Changes - Victoria Hay was appointed as Chief Financial Officer effective August 15, 2025, bringing experience from growth-stage public companies [7][8] - Ben Piggot will transition to Director of Corporate Development, focusing on strategic initiatives including mergers and acquisitions [7][8]

Group 1 - ECD Automotive Design, Inc. plans to review its operating and financial results for the second quarter ended June 30, 2025, on August 21, 2025, at 8:30 a.m. E.T. [1] - The conference call will be hosted by CEO Scott Wallace and CFO Victoria Hay [2] - A telephonic replay of the conference call will be available through September 4, 2025 [4] Group 2 - ECD is the world's largest Land Rover and Jaguar restoration company, known for custom luxury builds including bespoke Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs [1][4] - The company was founded in 2013 and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 102 staff, including 67 craftsmen and technicians [4] - ECD specializes in fully bespoke vehicles, designed by clients through a luxury design experience and hand-built over 2,200 hours by master-certified Automotive Service Excellence craftsmen [4]

Core Insights - ECD Automotive Design, Inc. has signed a $500 million equity facility to implement a Bitcoin treasury strategy and support growth initiatives [1][3][6] - The company aims to engage the Bitcoin and digital asset communities, offering incentives for customers who purchase vehicles with Bitcoin [2][6] Financial Strategy - The proceeds from the $500 million facility will be used to acquire Bitcoin for the corporate treasury and fund general corporate purposes [3][6] - The company has the discretion to issue and sell up to $500 million in newly issued shares, with no obligation to draw on the facility [3][4] Customer Engagement - ECD plans to attract customers from the digital asset community by offering a $21,000 credit for vehicle upgrades to the first 21 customers who purchase a vehicle using Bitcoin [2][6] - The initiative reflects the company's confidence in the long-term potential of digital assets and aims to create value for shareholders and customers [3] Company Overview - ECD Automotive Design specializes in restoring luxury vehicles, including Land Rover and Jaguar models, and has a bespoke vehicle production process [5] - The company was founded in 2013 and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing skilled craftsmen [5]

Core Insights - ECD Automotive Design, Inc. is enhancing operational efficiency and optimizing working capital to strengthen its financial position [1][2] - The company is committed to disciplined growth and has completed a comprehensive review of its cost structure and capital allocation [2] - ECD focuses on sustainable value creation and will continue to seek opportunities to improve efficiency and cash position [2] Operational Initiatives - A holistic bottoms-up cost savings analysis has been conducted to identify and eliminate unnecessary expenditures [5] - The company has identified opportunities to enhance working capital velocity through a strategic review of inventory management practices [5] - ECD has negotiated a waiver with existing lenders, resolving defaults and securing a 12-month grace period from debt service obligations [5] Company Overview - ECD Automotive Design is a public company trading under the ticker ECDA on Nasdaq, specializing in restored luxury vehicles [3] - The company restores various classic vehicles, including Land Rover Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs [3] - ECD was founded in 2013 and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 67 craftsmen and technicians [3]

Core Insights - ECD Automotive Design, Inc. reported financial results for Q1 2025, highlighting a revenue of $6.4 million, a decrease from $7.0 million in the same quarter of 2024, attributed to lower unit volume but offset by higher unit prices [8][9] - The company achieved a gross profit of $1.8 million with a gross margin of 27.5%, an increase of 570 basis points year-over-year, driven by an increase in average selling price [10][7] - ECD signed the largest custom order contract in its history for a Jaguar E-Type GTO valued at $620,000, indicating strong customer demand and a robust design process [4][5] Financial Performance - Revenue for Q1 2025 was $6.4 million, down from $7.0 million in Q1 2024, with lower unit volume slightly offset by higher unit prices [8][9] - Gross profit increased to $1.8 million from $1.5 million year-over-year, with a gross margin of 27.5% [10][8] - Operating expenses rose to $3.7 million in Q1 2025 from $2.5 million in Q1 2024, primarily due to increased general and administrative costs [11][12] Operational Highlights - The company titled 20 vehicles at an average price of $320,000 during the quarter, contributing to a sequential revenue increase [3][4] - ECD opened its first retail "Store within a Store" at One Driver's Club in West Palm Beach, Florida, expanding its market presence [7] - The company is focused on improving its liquidity profile and has taken steps to rationalize public company expenses [6] Market Position - ECD is positioned as the only domestic producer of one-of-one classic luxury restomods, providing a competitive advantage in customization capabilities [5][4] - The company continues to see strong customer demand and opportunities for enhanced profitability through additional customization and operational efficiencies [5][6]