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Phoenix Motor Inc., doing business as Phoenix Motorcars through its wholly owned subsidiaries, Phoenix Cars LLC, Phoenix Motorcars Leasing LLC, and EdisonFuture Motor, Inc., is a leading electrification solutions provider for the commercial vehicle industry as well as other industries. Phoenix designs, develops, manufactures, assembles, and integrates electric drive systems and light and medium…
The business is unprofitable at the operating level (-99.40% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 27966.7% YoY with margins expanding 18374.5pp.
ROIC dropped from -150.80% to -248.83%, capital efficiency is deteriorating. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$15M
▲ +27966.7% YoY
Net Income (TTM)
-$15M
▲ +138.4% YoY
Op. Margin
-73.29%
▲ +18374.5pp YoY
ROIC
-76.37%
▼ -98.0pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$2M
▲ +45.0% YoY
Op. Cash Flow (TTM)
-$5M
▲ +46.7% YoY
Net Debt
$2M
Cash & Equiv.
$276K
3Y CAGR: +118.7%
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