- ROTH Capital’s analyst recently delivered an outlook for revenues of $129 million in 2021, an increase of 119 percent for Ideanomics
- The company reported revenues of $32.7 million with a gross profit margin of 33.1 percent for the first quarter, boosted largely by its recently acquired fintech subsidiary Timios Holdings
A covering analyst’s recent forecast for significant improvement in Ideanomics’ (NASDAQ: IDEX) sustainable energy business outlook, as well as other positive market indicators, appear to portend optimism for the company’s approach to concerns about energy consumption and global living standards.
The forecast is for revenues of $129 million this year, which would mean a 119 percent increase in its sales over the past 12 months, according to a report issued by Simply Wall St on May 19 (https://ibn.fm/PNsld).
“The highlight for us was that the consensus reduced its estimated losses this year, perhaps suggesting Ideanomics is moving incrementally towards profitability. They also upgraded their revenue estimates for this year, and sales are expected to grow faster than the wider market. With a serious upgrade to expectations, it might be time to take another look at Ideanomics,” the report states.
Ideanomics has developed a synergistic portfolio of subsidiaries and investments in the EV value chain along with a number of fintech industry services in sectors such as real estate, metals markets, and digital assets.
These two primary elements of the company’s mission are identified as its Mobility and Capital operating divisions. While the Capital division was the company’s core focus in past years, tremendous growth in Southeast Asia’s sustainable energy industries, as well as trade tensions between the United States and China during 2020, led Ideanomics to shift its balance toward the Mobility sector, where it foresees strategic opportunity to grow globally.
The Capital division continues to make strides, acquiring mortgage title and closing provider Timios Holdings Corp. back in January, which offers title and settlement, appraisal management, and real-estate-owned (“REO”) title and closing services in 44 states and currently serves more than 280 national and regional clients. The company’s vision is to serve customers by offering innovative and freedom-of-choice-friendly solutions for real estate transactions (https://ibn.fm/atZq6).
The Capital division also began developing an emphasis on social media with its recent investment in FNL Technologies and its subsidiary hoo.be. Hoo.be is a strategic platform that makes it simple for online influencers, artists, athletes, personalities and businesses to provide their followers with a single portal for access to all their official social media platforms (https://ibn.fm/HvOUT).
Ideanomics’ acquired businesses have begun contributing to the company’s revenue performance, as shown by Q1 results that reported revenues of $32.7 million with a gross profit margin of 33.1 percent. Recent Acquistions Timios and WAVE accounted for the majority of the revenue. (https://ibn.fm/iVCtf).
For more information, visit the company’s website at www.Ideanomics.com.
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX