Exro Technologies (TSX: EXRO) (OTCQB: EXROF), a leading clean-technology company that provides proprietary motor-control and complete electric propulsion system technology for e-mobility, is reporting financial results for its second quarter, the period ended June 30, 2024. Highlights of the report include record quarterly revenue of C$5.3 million with C$6.7 million at quarter end in completed units; receiving Cell Driver(R) ETL certification to UL standards, which marks the next phase of commercialization for Exro’s proprietary battery energy-storage technology; and an update on the company’s path to profitability, which noted that the initial target of $10 million is on track for 2024.
“We are pleased about our progress immediately post-merger,” said Exro CEO Sue Ozdemir in the press release. “We delivered record revenue and production volumes, on track for our cost-out targets and integrated our technology offerings. Despite challenges, our team’s dedication has been outstanding, and we are confident in our continued growth and industry disruption.”
To view the full press release, visit https://ibn.fm/Bb2di
About Exro Technologies Inc.
Exro Technologies is a leading clean-technology company that has developed new-generation, power-control electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies serve to bridge the performance-cost gap in e-mobility — Exro Coil Driver(R) — and stationary energy storage — Exro Cell Driver(R) — and act to accelerate adoption toward a circular electrified economy by delivering more with less, minimum energy for maximum results. For more information about the company, please visit www.Exro.com.
NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://ibn.fm/EXROF
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