Exro Technologies Reports Second Quarter 2025 Results
Q2 2025 Highlights
- Revenue of
$2.9 million from the delivery of 18 electric propulsion units and aftersales services. - Completed strategic wind-down of
Asia-Pacific operations, retaining intellectual property and key subsidiaries. - To date, accessed
US$10.0 million of the up toUS$30.0 million debt facility from an existing lender.
Financial Results
Revenue for Q2 2025 was
- A
$48.5 million impairment of intangible assets — primarily developed technology, brand, and customer relationships — reflecting the wind-down of APAC operations, and updated production forecasts. - An
$11.1 million inventory provision, also non-cash, related to the identification of excess and obsolete inventory. This provision aligns inventory values with near-term forecasted production and a leaner capital-efficient operating model.
Update on Strategic Process
The Company confirms that the strategic review process described in its
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CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended
Neither the
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