Arcimoto, Inc. (FUV) Reports Q2 Loss of $0.14

Arcimoto, Inc. (NASDAQ: FUV) reported Q2 EPS of ($0.14).

“The second quarter was highlighted by our continued operational execution, anchored by the completion of ten Signature Series FUVs,” said Mark Frohnmayer, Founder and President of Arcimoto. “With the lessons learned from the Signature Series, we began a 15-unit Beta Series production run, with the first two units already on the road.

“As of June 30, 2018, FUV pre-orders stood at 2,800 vehicles, representing approximately $42 million in anticipated revenue. We expect the pace of new pre-orders to potentially accelerate as we open our planned rental locations – first in Eugene, Oregon, followed by a second location in Encinitas, California.

“This newly developed experience model entails opening rental locations in key destination markets. We believe this approach will allow Arcimoto to generate revenue from individual rentals while raising brand awareness in high-traffic destination cities. Further, we anticipate that the rental model will be franchiseable, allowing us to expand our global footprint with limited capital expenditure.

“From the very first Signature Series FUV to our current run of Beta units, one thing has consistently excited me through it all: the pure joy of a prospective customer driving an FUV for the first time. That experience, perhaps more than anything, is what I believe will most help us in our goal to catalyze the shift to sustainable transportation worldwide,” concluded Frohnmayer.

For earnings history and earnings-related data on Arcimoto, Inc. (FUV) click here.

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