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Carbon Revolution Public Limited Company (NASDAQ: CREV) |
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Carbon Revolution Public Limited Company Outlook |
On April 9 2024 the Carbon Revolution Public Limited Company provided following guidance
Carbon Revolution has announced impressive financial results for the first half of 2024, with record half year revenue of US$26.1 million, representing a significant increase of 107% compared to the previous year. The company also reported a substantial increase in sales, with 12.8k wheels sold in the first half of the year, more than doubling the volumes compared to the prior year.
In addition, Carbon Revolution achieved a record quarterly revenue of US$14.8 million in the second quarter of 2024, marking an impressive 177% year-over-year growth. However, the company noted that it has limited liquidity as of March 31, 2024, and is in discussions with OIC for potential early release of Escrow funds to address this issue.
Looking ahead, Carbon Revolution issued a preliminary estimate for fiscal 3Q 2024, indicating revenue in the range of $10 to $11 million, which represents a notable 110% increase year-over-year at the mid-point of the range. These strong financial results demonstrate the company's continued growth and success in the market.
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