Ideanomics (IDEXQ) AI Stock Analysis

• Market Cap: $6.02K
• Dividend Yield: N/A
• Average Volume (3M): 6.42K
• Price to Earnings (P/E): ―
• Beta (1Y): 15.59
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 295
• Sector: Industrials
• Sector Strength: 72
• Industry: Software
• EPS (TTM): N/A
• Shares Outstanding: 20,068,436
• 10 Day Avg. Volume: 10,041
• 30 Day Avg. Volume: 6,415
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 28 Underperform
• Price Target: ―

Ideanomics is facing severe financial instability, evidenced by declining revenues, negative equity, and cash flow issues. Technical analysis points to a bearish market outlook, compounded by the lack of positive earnings guidance or sentiment. The absence of traditional valuation metrics like a positive P/E ratio further underscores the market's lack of confidence. Overall, the stock is highly risky with limited short-term upside potential.

Positive Factors

Business Model Diversification

The company's dual focus on EVs and financial services provides diversified revenue streams, potentially reducing risk and enhancing resilience against market fluctuations.

Strategic Partnerships

Partnerships can drive growth by leveraging external expertise and resources, allowing Ideanomics to expand its market presence and service capabilities effectively.

EV Market Focus

Focusing on the growing EV market positions Ideanomics to benefit from increasing global demand for sustainable transportation solutions, supporting long-term growth.

Negative Factors

Declining Revenue

Significant revenue decline indicates challenges in maintaining market competitiveness and customer retention, potentially impacting future growth prospects.

Negative Equity

Negative equity reflects financial instability, limiting the company's ability to raise capital and invest in growth opportunities, posing long-term solvency risks.

Cash Flow Issues

Persistent cash flow challenges hinder the company's ability to sustain operations and fund strategic initiatives without relying on external financing, impacting long-term viability.

Ideanomics Business Overview & Revenue Model

Company Description

Ideanomics is focused on driving the commercial adoption of Electric Vehicles (EVs) by offering EVs, charging solutions, and financing under one roof. Its Ideanomics Mobility unit focuses on solutions to boost EV adoption by commercial fleet owners. Meanwhile, the Ideanomics Capital business leverages technology to offer financing services.

How the Company Makes Money

Ideanomics generates revenue primarily through its Ideanomics Mobility and Ideanomics Capital units. In the Ideanomics Mobility segment, the company earns money by facilitating the sale of commercial electric vehicles, offering fleet operators comprehensive solutions that include vehicle procurement, financing, leasing, and energy management services. The company benefits from transaction fees and margins on the sales and leasing of these vehicles. Additionally, Ideanomics Mobility also generates revenue from its charging infrastructure solutions, where it partners with energy providers and manufacturers to offer integrated charging solutions. In the Ideanomics Capital segment, the company provides financial services, including fintech solutions and advisory services, generating revenue through fees, interest, and other financial products. Strategic partnerships and joint ventures in both segments further enhance its revenue potential by expanding its market reach and service offerings.

Ideanomics Financial Statement Overview

Summary

Ideanomics faces significant financial challenges with declining revenues, persistent losses, a weakened balance sheet with negative equity, and strained cash flows. The company needs strategic financial management to improve liquidity and operational efficiency.

Income Statement

The income statement reflects significant challenges with declining total revenue from $377.7M in 2018 to $15.5M in 2023. Gross profit margin has been negative in recent years, indicating cost management issues. Net income has been consistently negative, showing ongoing unprofitability. Despite these challenges, revenue volatility could provide opportunities for recovery if addressed strategically.

Balance Sheet

The balance sheet shows a deteriorating financial position, with stockholders' equity turning negative to -$22.1M in 2023. The debt-to-equity ratio is not meaningful due to negative equity, indicating high financial risk. Total assets have decreased significantly, reducing the company's asset base. This reflects potential insolvency risk unless financial restructuring occurs.

Cash Flow

Cash flow analysis highlights severe liquidity issues, with negative free cash flow and operating cash flow consistently over the years. The lack of positive cash flow from operations indicates difficulties in sustaining business operations without external financing. However, the company has managed financing cash flows effectively to support its cash needs.

Breakdown	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement
Total Revenue	―	―	―	―	―
Gross Profit	-2.71M	-815.00K	23.23M	2.06M	44.10M
EBITDA	-188.04M	-263.67M	-247.17M	-76.72M	-88.57M
Net Income	-223.83M	-260.69M	-256.01M	-101.08M	-98.51M
Balance Sheet
Total Assets	116.88M	242.80M	473.44M	233.87M	126.94M
Cash, Cash Equivalents and Short-Term Investments	―	―	―	―	―
Total Debt	25.58M	33.06M	70.85M	702.00K	17.44M
Total Liabilities	106.85M	96.24M	108.07M	37.69M	66.95M
Stockholders Equity	―	―	―	―	―
Cash Flow
Free Cash Flow	-52.66M	-137.49M	-82.05M	-41.66M	-15.60M
Operating Cash Flow	-52.66M	-129.99M	-75.53M	-41.47M	-13.78M
Investing Cash Flow	―	―	―	―	―
Financing Cash Flow	―	―	―	―	―

Ideanomics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.01
• 50DMA: Negative
• 100DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IDEXQ, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.01, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.87 is Neutral, neither overbought nor oversold. The STOCH value of 23.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IDEXQ.

Ideanomics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
BLNK	46 Neutral	$150.08M	―	-88.52%	―	-23.14%	14.29%
YGMZ	43 Neutral	$589.47K	0.28	-3.94%	―	-44.14%	―
KITT	43 Neutral	$8.33M	>-0.01	―	―	95.38%	45.87%
CETY	42 Neutral	$10.68M	―	-82.18%	―	-57.40%	52.85%
FCEL	41 Neutral	$200.88M	―	-29.51%	―	78.82%	-20.81%
IDEXQ	28 Underperform	$6.02K	―	793.13%	―	―	―