In the past six month the company has raised ~ $400M which is earmarked for new investments and acquisitions in revenue & growth based EV & Fintech companies.
SEC Filings Roth Capital Partners to Raise $150M.
"On February 26, 2021, Ideanomics, Inc. (the “Company”) entered into a Sales Agreement (the “Agreement”) with Roth Capital Partners, LLC (the “Agent”). In accordance with the terms of the Agreement, the Company may offer and sell from time to time through the Agent the Company’s common stock having an aggregate offering price of up to $150,000,000 (the “Placement Shares”). The Placement Shares will be offered and sold pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333- 252230)."
Ideanomics (IDEX) stock forecast for 2021-2025: is the EV-focused fintech firm a buy now?
“Fitch believes IDEX's results will begin to recover in 2021, with sales growth of 7-8 per cent and some margin expansion, and that there is upside to IDEX's margins over time from operating leverage and as the company closely manages its expenses.”
: Ideanomics Reports $26.8M in Revenues and EV Sales
NEW YORK, March 31, 2021 – Ideanomics Inc. (NASDAQ:IDEX) reported its full-year 2020 earnings results with $26.8M in overall revenue and $19.5M in EV revenue, up more than 600% on the prior year. The 2020 revenue includes the company's first sales of charging and battery systems. IDEX expects charging system revenues to grow as the WAVE inductive charging business acquired in January starts showing up in financials this quarter.
"We are very pleased with the transformation that took place this past year," says CEO Alf Poor. "Despite a year highlighted by COVID-19, we were able to build the groundwork for 2021 and beyond for Ideanomics and we are excited for what the future holds with our recent activity across the EV ecosystem and developments in EV charging infrastructure."
Selected Business Updates and Highlights
•§MEG Announces Purchase Agreement for 2,000 Units of D1, BYD's Custom Electric Ride-hailing Vehicle in December 2020
•§Acquired cash flow positive Timios Holding Corp. in January 2021
•§Invested in leading electric tractor company Solectrac in October 2020
•§Bolstered Cash position to $166M as of December 31, 2020
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Ideanomics Mobility division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.
The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.
: Wireless EV Charging is the "WAVE" of the future
Wireless EV Charging is the "WAVE" of the future
Ideanomics' inductive charging solutions provider "WAVE" has sales traction for design simplicity and safety and eliminates range concerns. WAVE has deployed ~60 charging units to date, ranging from 50 kW to 250 kW. Pads are placed along bus or commercial vehicle's route, providing in-service charging while vehicles load and unload. Availability of WAVE charging on Medici vehicles likely lifts sales prospects for both parties. WAVE generated $7m in revenue in 2020, and we model growth to $85m in 2025.
: Roth Capital Partners - Equity Research
"We are introducing a $7.00 price target using a discounted EV/EBITDA methodology. Our 12-month target uses a 30x multiple on 2025E EBITDA of $123 million, discounting back at 12.5% for three years. Our model reflects strong growth in eMobility, while Ideanomics Capital likely generates healthy profits but with much lower growth."
Source: Roth Capital Partners - Equity Research - April 14, 2021 - Mr. Craig Irwin, Managing Director, Senior Research Analyst at Roth Capital Partners