on Volcon EPowersports, Inc. (NASDAQ:VLCN)
Volcon ePowersports Reports Q4 2024 Highlights and Financial Results
Volcon Inc., the pioneer in all-electric off-road powersports, shared its Q4 2024 operational highlights and financial performance. Key developments include exclusive distribution and supply agreements for golf carts with Super Sonic Company Ltd. and Venom-EV, the launch of the HF1 UTV, and the receipt of FT1 dual sport motorcycle prototypes.
Financially, Volcon raised $19.5 million through market offerings, with a share repurchase program set at $2 million. The revenue for Q4 2024 reached $0.9 million, with a net loss of $5.2 million and an adjusted EBITDA loss of $5.0 million.
The company continues to navigate cost reductions while expanding its dealer network and supporting new products. A notable focus is on avoiding high tariffs via strategic supplier partnerships.
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