Mobility tech firm ECARX turns profitable on higher shipment volumes in Q3

Reuters11-03

Mobility tech firm ECARX turns profitable on higher shipment volumes in Q3

Overview

ECARX Q3 revenue grows 11% YoY to $219.9 mln, driven by higher shipment volumes
Company achieves first net profit of $0.9 mln, compared to a loss last year
Adjusted EBITDA reaches $8.3 mln, reflecting improved operational efficiency

Outlook

ECARX expects to maintain growth momentum into next quarter and beyond
Company has secured a $400 mln project with a leading European automaker
ECARX entered agreement to issue up to $150 mln in convertible notes

Result Drivers

SHIPMENT VOLUME - Total shipments reached approximately 667,000 units, up 51% YoY, driven by record high shipments of Antora series
PRODUCT INNOVATION - Pikes computing platform contributed to strong performance as mass production began

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Gross Margin		22%

Press Release: ID:nGNX1bTy46

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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