OTC: PEVM
PHOENIX MOTOR INC.CIK 0001879848 · SIC 3713 · Truck & Bus Bodies
Micro
Revenue $31M
Assets $52M
as of Aug 30, 2026
Every 8-K is open in full. Other 10-Ks and 10-Qs show a 3-bullet preview. A free account reads 3 more full reports a month. Generating a report requires a verified account.
Sign up freeWant to see a complete report first? Today's free report (DLTH 10-Q) is open in full — no account needed.
8-K
Filed Aug 14, 2026
· Period ending Aug 6, 2026
Summary not yet generated.
8-K
Filed Jun 5, 2026
· Period ending Jun 1, 2026
Summary not yet generated.
Partner
Trade PEVM commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
8-K
Filed Feb 20, 2026
· Period ending Feb 16, 2026
Summary not yet generated.
8-K
Filed Feb 11, 2026
· Period ending Feb 9, 2026
Summary not yet generated.
8-K
Filed Feb 9, 2026
· Period ending Feb 6, 2026
Summary not yet generated.
8-K
Filed Dec 23, 2025
· Period ending Dec 23, 2025
Summary not yet generated.
10-Q
Filed Nov 12, 2025
· Period ending Sep 30, 2025
Summary not yet generated.
10-Q
Filed Aug 14, 2025
· Period ending Jun 30, 2025
Summary not yet generated.
10-K
Filed May 30, 2025
· Period ending Dec 31, 2024
Summary not yet generated.
10-K
Filed Apr 15, 2024
· Period ending Dec 31, 2023
Summary not yet generated.
Latest financial statements
From 10-Q filed Nov 12, 2025 (period ending Sep 30, 2025). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In thousands, except for share and per share data)
| Description | Three months ended September 30, 2025 | Three months ended September 30, 2024 | Nine months ended September 30, 2025 | Nine months ended September 30, 2024 |
|---|---|---|---|---|
| Revenues | 2,491 | 4,772 | 9,644 | 26,224 |
| Cost of revenues | 1,822 | 3,656 | 6,695 | 20,774 |
| Gross profit (loss) | 669 | 1,116 | 2,949 | 5,450 |
| Operating expenses: | ||||
| Selling, general and administrative | 2,631 | 9,475 | 8,536 | 27,053 |
| Impairment of goodwill | - | - | - | 4,271 |
| Operating loss | (1,962) | (8,359) | (5,587) | (25,874) |
| Other income (expense): | ||||
| Interest expense, net | (1,002) | (784) | (3,193) | (4,121) |
| Loss on warrants issued in private placement | - | - | - | (7,432) |
| (Loss) gain on change in fair value of warrant liability | (742) | (216) | 318 | 14,402 |
| Gain on change in fair value of derivative liability | - | 13 | - | 602 |
| Bargain purchase gain | - | - | - | 32,072 |
| Others | 26 | - | 56 | - |
| Total other (expense) income, net | (1,718) | (987) | (2,819) | 35,523 |
| (Loss) income before income taxes | (3,680) | (9,346) | (8,406) | 9,649 |
| Income tax (expenses) benefits | - | 3,755 | (12) | 4,487 |
| Net (loss) income | (3,680) | (5,591) | (8,418) | 14,136 |
| (Loss) earnings per share of common stock: | ||||
| Basic | (0.33) | (0.75) | (0.84) | 2.10 |
| Diluted | (0.30) | (0.75) | (0.74) | 1.85 |
| Weighted average shares outstanding* | ||||
| Basic | 11,195,462 | 7,285,501 | 10,064,966 | 6,782,178 |
| Diluted | 12,432,516 | 7,285,501 | 11,302,020 | 7,470,385 |
Condensed Consolidated Balance Sheets
(In thousands, except for share and per share data)
| Description | September 30, 2025 | December 31, 2024 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 276 | 764 |
| Accounts receivable, net | 3,625 | 4,015 |
| Inventories | 38,357 | 40,760 |
| Prepaid expenses and other current assets, net | 1,395 | 1,699 |
| Amounts due to a related party | 17 | — |
| Battery lease receivables | 4,645 | 4,767 |
| Total current assets | 48,315 | 52,005 |
| Property and equipment, net | 2,530 | 3,784 |
| Operating lease right-of-use assets | 886 | 1,724 |
| Net investment in leases | 28 | 64 |
| Total assets | 51,759 | 57,577 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 4,232 | 4,265 |
| Accrued liabilities | 7,786 | 6,685 |
| Advance from customers, current | 9,268 | 4,713 |
| Deferred income | 1,129 | 1,494 |
| Warranty reserve, current | 1,986 | 4,380 |
| Lease liabilities, current | 1,393 | 1,845 |
| Amounts due to a related party | 23 | 28 |
| Short-term borrowing | 514 | 1,010 |
| Derivative liability | — | 33 |
| Warrant liability | 960 | 1,278 |
| Convertible note, current | 4,448 | 485 |
| Other payable | 509 | — |
| Long-term borrowing, current | 3 | 3 |
| Total current liabilities | 32,251 | 26,219 |
| Lease liabilities, noncurrent | 265 | 1,239 |
| Warranty reserve, noncurrent | 6,060 | 9,909 |
| Advance from customers, noncurrent | — | 2,036 |
| Long-term borrowings | 138 | 138 |
| Deferred tax liabilities | 7,716 | 7,716 |
| Total liabilities | 46,430 | 47,257 |
| Commitments and contingencies (Note 16) | ||
| Equity: | ||
| Common stock, par $0.0004, 450,000,000 shares authorized, 12,549,503* and 8,534,973* shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 21 | 17 |
| Additional paid-in capital | 55,001 | 51,578 |
| Accumulated deficit | (49,693) | (41,275) |
| Total stockholders’ equity | 5,329 | 10,320 |
| Total liabilities and stockholders’ equity | 51,759 | 57,577 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Nine months ended September 30, 2025 | Nine months ended September 30, 2024 |
|---|---|---|
| Changes in operating assets and liabilities: | ||
| Net (loss) income | (8,418) | 14,136 |
| Adjustments to reconcile net (loss) income to cash used in operating activities: | ||
| Depreciation and amortization | 1,254 | 1,356 |
| Amortization of convertible notes | - | 1,490 |
| Provision for doubtful accounts | 292 | |
| Gain on warrant exercise | (294) | - |
| Gain on change in fair value of derivative liability | - | (602) |
| Share-based compensation | 591 | 5 |
| Impairment loss on goodwill | - | 4,271 |
| Warranty reserve | (6,243) | (935) |
| Amortization of right-of-use assets | 838 | 718 |
| Loss on warrants issued in private placement | - | 7,432 |
| Gain on change in fair value of warrant liability | (318) | (14,402) |
| Bargain purchase gain | - | (32,072) |
| Deferred tax liability reversal | - | (5,223) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 390 | (5,433) |
| Inventories | 2,403 | 15,543 |
| Battery lease receivables | 122 | 545 |
| Prepaid expenses and other assets | 304 | (847) |
| Amount due from related party | (17) | 107 |
| Accounts payable | (33) | 1,320 |
| Accrued liabilities | 2,360 | 4,832 |
| Deferred revenue | (365) | (15) |
| Advance from customers | 2,519 | 4,926 |
| Other payable | 509 | - |
| Lease liabilities | (1,426) | (1,148) |
| Net investment in leases | 36 | 154 |
| Amount due to related party | (5) | - |
| Income tax payable | - | 736 |
| Net cash used in operating activities | (5,793) | (2,814) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | - | (113) |
| Loan lent to a related party | - | (2,566) |
| Proceeds from repayment from a related party | - | 2,566 |
| Acquisition of Proterra | - | (10,000) |
| Net cash used in investing activities | - | (10,113) |
| Cash flows from financing activities: | ||
| Repayment of borrowings | (1,588) | (4,703) |
| Proceeds from borrowings | 6,287 | 4,982 |
| Repayment of related party borrowings | - | (1,914) |
| Proceeds from related party borrowings | - | 1,051 |
| Proceeds received from private placements | 606 | 11,104 |
| Repayment of convertible notes | - | (597) |
| Net cash generated from financing activities | 5,305 | 9,923 |
| Decrease in cash and cash equivalents | (488) | (3,004) |
| Cash and cash equivalents at beginning of the period | 764 | 3,283 |
| Cash and cash equivalents at end of the period | 276 | 279 |
| Supplemental cash flow information: | ||
| Income tax paid | - | - |
| Non-cash activities: | ||
| Derivative liabilities recorded as debt discount | - | - |
| Issuance of common stock per convertible note conversion | 577 | 1,293 |
| Reclass of derivative liability upon conversion of related convertible notes | 33 | 317 |
| Issuance of restricted shares to Wisdom Financial to repay the consulting fee | - | 270 |
| Issuance of common stock for settlement with vendors | - | 1,693 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except for share and per share data); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗