ECD Automotive Design Reports Second Quarter 2025 Financial Results; Record Quarterly Revenue of $7M and Expansion of Product Offering with Legendary Mustang
ECD Automotive Design (NASDAQ: ECDA), the largest Land Rover and Jaguar restoration company, reported its Q2 2025 financial results with record quarterly revenue of $7.0 million, up from $6.5 million year-over-year. However, the company faced challenges with gross profit declining to $1.4 million from $2.1 million, and a net loss of $4.3 million.
Key developments include the delivery of their first Mustang build in partnership with Roush Performance, successful pop-up retail locations in Nantucket and West Palm Beach, and securing a $500 million equity facility for Bitcoin treasury strategy. The company also appointed Victoria Hay as CFO, effective August 15, 2025, bringing public company experience to strengthen their financial leadership.
ECD Automotive Design (NASDAQ: ECDA), il principale restauratore di Land Rover e Jaguar, ha comunicato i risultati finanziari del secondo trimestre 2025 con un ricavo trimestrale record di 7,0 milioni di dollari, in aumento rispetto ai 6,5 milioni dell'anno precedente. Tuttavia, la societ脿 ha registrato difficolt脿 con un utile lordo sceso a 1,4 milioni di dollari dai 2,1 milioni e una perdita netta di 4,3 milioni di dollari.
Tra gli sviluppi chiave si segnalano la consegna della loro prima Mustang costruita in collaborazione con Roush Performance, pop-up retail di successo a Nantucket e West Palm Beach e l'ottenimento di una linea azionaria da 500 milioni di dollari per la strategia di tesoreria in Bitcoin. La societ脿 ha inoltre nominato Victoria Hay come CFO, con effetto dal 15 agosto 2025, rafforzando la leadership finanziaria grazie alla sua esperienza in societ脿 quotate.
ECD Automotive Design (NASDAQ: ECDA), la mayor empresa de restauraci贸n de Land Rover y Jaguar, anunci贸 sus resultados del segundo trimestre de 2025 con ingresos trimestrales r茅cord de 7,0 millones de d贸lares, frente a 6,5 millones del a帽o anterior. No obstante, la compa帽铆a afront贸 retos con un beneficio bruto reducido a 1,4 millones de d贸lares desde 2,1 millones y registr贸 una p茅rdida neta de 4,3 millones de d贸lares.
Entre los hitos destaca la entrega de su primera Mustang desarrollada en colaboraci贸n con Roush Performance, exitosas tiendas pop-up en Nantucket y West Palm Beach, y el aseguramiento de una facilidad de capital de 500 millones de d贸lares para su estrategia de tesorer铆a en Bitcoin. Adem谩s, nombr贸 a Victoria Hay como directora financiera, con efecto desde el 15 de agosto de 2025, aportando experiencia en compa帽铆as cotizadas para fortalecer la gesti贸n financiera.
ECD Automotive Design (NASDAQ: ECDA), 斓滊寑鞚� 霝滊摐搿滊矂路鞛窚鞏� 氤奠洂鞐呾泊臧� 2025雲� 2攵勱赴 鞁れ爜鞚� 氚滍憸頄堨姷雼堧嫟. 攵勱赴 毵れ稖鞚� 700毵� 雼煬搿� 靷儊 斓滉碃旃�毳� 旮半頃橂┌ 鞝勲厔鞚� 650毵� 雼煬鞐愳劀 歃濌皜頄堨姷雼堧嫟. 雼る 齑濎澊鞚奠潃 210毵� 雼煬鞐愳劀 140毵� 雼煬搿� 臧愳唽頄堦碃, 靾滌啇鞁れ潃 430毵� 雼煬鞓赌鞀惦媹雼�.
欤检殧 靷暛鞙茧電� Roush Performance鞕� 順戩梾頃� 觳� 毹胳姢韮膘潉 鞚鸽弰頃� 鞝�, Nantucket 氚� West Palm Beach鞐愳劀鞚� 韺濎梾 毵れ灔 靹标车, 攴鸽Μ瓿� 牍勴姼旖旍澑 鞛鞝勲灥鞚� 鞙勴暅 5鞏� 雼煬 攴滊鞚� 鞛愲掣 歆�鞗� 頇曤炒臧� 鞛堨姷雼堧嫟. 霕愴暅 2025雲� 8鞗� 15鞚茧秬搿� 靸侅灔靷� 瓴巾棙鞚� 鞛堧姅 牍呿啝毽晞 項れ澊(Victoria Hay)毳� CFO搿� 鞛勲獏頃� 鞛 毽崝鞁潉 臧曧檾頄堨姷雼堧嫟.
ECD Automotive Design (NASDAQ: ECDA), le plus grand sp茅cialiste de la restauration de Land Rover et Jaguar, a publi茅 ses r茅sultats du deuxi猫me trimestre 2025 avec un chiffre d'affaires trimestriel record de 7,0 millions de dollars, contre 6,5 millions un an auparavant. Toutefois, la soci茅t茅 a rencontr茅 des difficult茅s : le profit brut a chut茅 脿 1,4 million de dollars contre 2,1 millions, et elle affiche une perte nette de 4,3 millions de dollars.
Parmi les faits marquants figurent la livraison de leur premi猫re Mustang r茅alis茅e en partenariat avec Roush Performance, des boutiques 茅ph茅m猫res r茅ussies 脿 Nantucket et West Palm Beach, et l'obtention d'une facilit茅 d'茅quit茅 de 500 millions de dollars pour une strat茅gie de tr茅sorerie en Bitcoin. La soci茅t茅 a 茅galement nomm茅 Victoria Hay au poste de directrice financi猫re, 脿 compter du 15 ao没t 2025, renfor莽ant ainsi la direction financi猫re gr芒ce 脿 son exp茅rience en entreprise cot茅e.
ECD Automotive Design (NASDAQ: ECDA), das gr枚脽te Restaurationsunternehmen f眉r Land Rover und Jaguar, ver枚ffentlichte seine Zahlen f眉r das zweite Quartal 2025 mit einem rekordverd盲chtigen Quartalsumsatz von 7,0 Millionen US-Dollar, gegen眉ber 6,5 Millionen im Vorjahr. Gleichzeitig sah sich das Unternehmen mit einem R眉ckgang des Bruttogewinns auf 1,4 Millionen US-Dollar (vorher 2,1 Millionen) und einem Nettoverlust von 4,3 Millionen US-Dollar konfrontiert.
Wesentliche Entwicklungen umfassen die Auslieferung ihres ersten in Kooperation mit Roush Performance gebauten Mustang, erfolgreiche Pop-up-Stores in Nantucket und West Palm Beach sowie die Sicherung einer 500-惭颈濒濒颈辞苍别苍-顿辞濒濒补谤-贰辩耻颈迟测-贵补锄颈濒颈迟盲迟 zur Unterst眉tzung einer Bitcoin-Treasury-Strategie. Zudem wurde Victoria Hay als CFO bestellt, wirksam ab dem 15. August 2025, um mit ihrer Erfahrung aus b枚rsennotierten Unternehmen die Finanzf眉hrung zu st盲rken.
- Record quarterly revenue of $7.0 million, up from $6.5 million year-over-year
- Secured $500 million equity facility for Bitcoin treasury and growth strategy
- Successfully launched Mustang program with Roush Performance, winning Best of Class at Route 66 Road Fest
- Successful pop-up retail locations driving order backlog and ready-now sales
- Appointed experienced CFO Victoria Hay with public company expertise
- Gross profit declined to $1.4 million from $2.1 million year-over-year
- Net loss increased to $4.3 million from $2.0 million year-over-year
- Operating expenses increased by $1.4 million compared to prior year
- Negative Adjusted EBITDA of $1.5 million, down $1.5 million from prior year
- Margin reduction due to evolving tariff environment
Insights
ECD reports record revenue but widening losses amid expansion and Bitcoin strategy; financial health concerns mount.
ECD Automotive Design's Q2 2025 results present a mixed financial picture with some concerning trends. While the company achieved
The company's cost structure shows troubling expansion with operating expenses increasing by
The
The expansion into Mustang restorations with Roush Performance shows product diversification beyond Land Rover and Jaguar, potentially opening new revenue streams. However, this comes amid declining profitability in the core business. The seasonal retail locations strategy appears to be gaining traction, but the company must demonstrate these can drive sustainable margin improvements rather than just incremental sales.
The CFO transition to Victoria Hay, who has been consulting since March 2025, suggests an intentional leadership shift to address financial challenges. Her public company experience could help navigate the current financial headwinds, though the former CFO's transition to focus on M&A and Bitcoin strategy signals continued emphasis on expansionary measures despite deteriorating fundamentals.
Retail Experiences Deepen Customer Engagement and Brand Connection;
KISSIMMEE, Fla., Aug. 20, 2025 (GLOBE NEWSWIRE) -- ECD Automotive Design, Inc. (NASDAQ: ECDA), the (鈥淓CD鈥� or the 鈥淐ompany鈥�), the world鈥檚 largest Land Rover and Jaguar restoration company known for its custom luxury builds, including bespoke Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs and Toyota FJs, announced today its financial results for the second quarter ended June 30, 2025.
Financial results and comparisons are based on re-stated numbers for 2023 and the first half of 2024.
Second Quarter Highlights
- Revenues were a record
$7.0 million in the second quarter of 2025, compared to$6.5 million in the same year-ago quarter; driven by an increase in build revenue. - Gross profit was
$1.4 million in the second quarter of 2025, compared to$2.1 million in the same year-ago quarter; primarily reflecting the impact of an evolving tariff environment. - Net loss was
$4.3 million in the second quarter of 2025, compared to a net loss of$2.0 million in same year-ago quarter, the incremental loss was primarily driven by reduction in margin and increase in G&A and interest expense. - Delivered the first Mustang build in partnership with Roush Performance; ECD鈥檚 Mustang program will offer made-to-order builds across 1965鈥�1970 model years.
- Signed
$500 million facility intended for the strategic accumulation of Bitcoin to serve as the Company's primary reserve asset and for the funding of growth and corporate purposes. - Successful seasonal pop-up retail locations in Nantucket, MA and West Palm Beach, FL provided immersive luxury experiences and foundation for stand-alone retail expansion.
Recent Business Highlights
- Victoria Hay appointed as Chief Financial Officer effective August 15, 2025.
- Mrs. Hay brings growth-stage public company experience as CFO and senior finance leader.
- Mrs. Hay and her firm Flexible Consulting, were engaged by ECD as advisors in March 2025 and have since played a key role in enhancing the Company鈥檚 accounting and internal controls.
- Ben Piggot will remain with ECD in a new role, Director of Corporate Development, and will lead strategic initiatives including mergers and acquisitions, investor engagement, and the Company鈥檚 evolving capital markets and Bitcoin treasury strategy.
Management Commentary
Speaking on the results for the quarter, Scott Wallace, CEO & Co-Founder of ECD, stated, 鈥淎s the only U.S. based producer of one-of-one classic luxury restomods within a scaled manufacturing line, ECD remains uniquely positioned in the current market environment. Our second quarter performance demonstrated this advantage, delivering record revenue of
鈥淒uring the quarter, we delivered the first Mustang build under our new program with Roush Performance, which expands our product portfolio beyond Land Rover and Jaguar restorations into a new high-growth category of American muscle. We have seen strong early demand and industry recognition, with our Mustang winning Best of Class at the Route 66 Road Fest in Tulsa. With our West Palm Beach and Nantucket pop-up shops now live, we鈥檙e seeing meaningful contributions to our order backlog and ready-now sales. These locations serve as high-touch engagement hubs for the ECD brand, deepening customer connections and accelerating the conversion of inventory into cash. The success of these seasonal locations serves as a proof-of-concept for future standalone brick-and-mortar retail, reinforcing our ability to bring the ECD experience directly to high-net-worth communities.
鈥淚n addition, we advanced initiatives to strengthen our financial foundation. We recently announced a series of cost structure and inventory optimization measures designed to enhance efficiency and improve working capital, while also securing a
Second Quarter 2025 Financial Results
Revenue: ECD reported second quarter revenue of
Gross Profit: ECD reported second quarter profit of
Operating expenses: Total expenses during the second quarter were
Operating loss: Operating loss reported during the second quarter was
Net loss: Net loss reported during the second quarter was
Non-GAAP Adjusted EBITDA: Adjusted EBITDA, reported during the second quarter was negative
Earnings Call and Webcast
Management will host the conference call.
Date: Thursday, August 21, 2025
Time: 8:30 AM Eastern Time (5:30 PM Pacific Time)
U.S. dial-in number: 877-407-4018
International number: 201-689-8471
Webcast:
The Company will also provide a link at . Please call the conference telephone number 5-10 minutes prior to the start time.
A telephonic replay of the conference call will also be available through September 4, 2025.
Toll-free replay number: 844-512-2921
International replay number: 412-317-6671
Replay passcode: 13755516
About ECD Auto Design
ECD, a public company trading under ECDA on the Nasdaq, is a creator of restored luxury vehicles that combines classic English beauty with modern performance. Currently, ECD restores Land Rover Defenders, Land Rover Series IIA, the Range Rover Classic, the Jaguar E-Type and we have recently added Ford Mustang and Toyota FJ. Historically, each vehicle produced by ECD was fully bespoke, a one-off that is designed by the client through an immersive luxury design experience and hand-built from the ground up in 2,200 hours by master-certified Automotive Service Excellence ("ASE") craftsmen. The Company was founded in 2013 by three British "gear heads' whose passion for classic vehicles is the driving force behind exceptionally high standards for quality, custom luxury vehicles. ECD's global headquarters, known as the "Rover Dome," is a 100,000-square-foot facility located in Kissimmee, Florida that is home to 102 staff with 67 talented craftsmen and technicians, who hold a combined 66 ASE and three master level certifications. ECD has an affiliated logistics center in the U.K. where its seven employees work to source and transport 25-year-old work vehicles back to the U.S. for restoration. For more information, visit听.
About Non-GAAP Financial Measures
The Company believes that EBITDA (earnings before interest, taxes, depreciation and amortization) is useful to investors because it is commonly used to evaluate companies on the basis of operating performance and leverage.
EBITDA is not intended to represent cash flows for the periods presented, nor have they been presented as an alternative to operating income or as an indicator of operating performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with accounting principles generally accepted in the United States of America (鈥淕AAP鈥�). In accordance with SEC Regulation G, the non-GAAP measurements in this press release have been reconciled to the nearest GAAP measurement, which can be viewed under the heading 鈥淩econciliation of Net Income (loss) from Operations to EBITDA鈥� in the financial tables included in this press release.
Cautionary Note Regarding Forward-Looking Statements
This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渃ould,鈥� 鈥渨ould,鈥� 鈥渟hould,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥減redict,鈥� 鈥減roject,鈥� 鈥減otential,鈥� 鈥渃ontinue,鈥� 鈥渙ngoing,鈥� 鈥渁ttempting,鈥� or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (鈥淪EC鈥�), including under the caption 鈥淩isk Factors鈥� in our Annual Report on Form 10-K filed for the year ended December 31, 2024 with the SEC, which can be obtained on the SEC website at听. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.
Investor Relations
| ECD AUTOMOTIVE DESIGN, INC UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| 听 | |||||||
| 听 | June 30, | 听 | December听31, | ||||
| 听 | 2025 | 听 | 2024 | ||||
| 听 | 听 | 听 | 听 | ||||
| ASSETS | 听 | 听 | 听 | ||||
| Current assets: | 听 | 听 | 听 | ||||
| Cash and cash equivalents | $ | 605,305 | 听 | 听 | $ | 1,476,850 | 听 |
| Accounts receivable, net | 听 | 606,355 | 听 | 听 | 听 | 45,022 | 听 |
| Inventories | 听 | 7,918,552 | 听 | 听 | 听 | 11,181,806 | 听 |
| Prepaid and other current assets | 听 | 211,141 | 听 | 听 | 听 | 239,864 | 听 |
| Total current assets | 听 | 9,341,353 | 听 | 听 | 听 | 12,943,542 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Goodwill | 听 | 1,291,098 | 听 | 听 | 听 | 1,291,098 | 听 |
| Property and equipment, net | 听 | 437,257 | 听 | 听 | 听 | 483,878 | 听 |
| Intangible asset, net | 听 | 7,500 | 听 | 听 | 听 | 12,000 | 听 |
| Right-of-use assets | 听 | 3,218,074 | 听 | 听 | 听 | 3,404,983 | 听 |
| Deposit | 听 | 60,200 | 听 | 听 | 听 | 60,200 | 听 |
| TOTAL ASSETS | $ | 14,355,482 | 听 | 听 | $ | 18,195,701 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS鈥� DEFICIT | 听 | 听 | 听 | 听 | 听 | ||
| Current liabilities: | 听 | 听 | 听 | 听 | 听 | ||
| Accounts payable | $ | 1,966,179 | 听 | 听 | $ | 2,494,664 | 听 |
| Accrued expenses | 听 | 1,704,981 | 听 | 听 | 听 | 1,686,598 | 听 |
| Deferred revenue | 听 | 8,969,670 | 听 | 听 | 听 | 11,802,825 | 听 |
| Lease liability, current | 听 | 354,576 | 听 | 听 | 听 | 353,612 | 听 |
| Floor plan payable | 听 | 498,320 | 听 | 听 | 听 | 1,212,000 | 听 |
| Other payables | 听 | 885,326 | 听 | 听 | 听 | 1,364,222 | 听 |
| Notes payable | 听 | 1,762,699 | 听 | 听 | 听 | - | 听 |
| Total current liabilities | 听 | 16,141,749 | 听 | 听 | 听 | 18,913,921 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Lease liability, non-current | 听 | 3,199,502 | 听 | 听 | 听 | 3,373,571 | 听 |
| Convertible notes, net of debt discount | 听 | 18,142,482 | 听 | 听 | 听 | 14,085,932 | 听 |
| Warrant liabilities, at fair value | 听 | 589 | 听 | 听 | 听 | 486,559 | 听 |
| Conversion option, at fair value | 听 | 1,219 | 听 | 听 | 听 | 313,191 | 听 |
| Total liabilities | 听 | 37,485,542 | 听 | 听 | 听 | 37,173,174 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Commitments and contingencies (Note 14) | 听 | - | 听 | 听 | 听 | - | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Series A preferred stock, | 听 | 2 | 听 | 听 | 听 | 1 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Stockholders鈥� deficit: | 听 | 听 | 听 | 听 | 听 | ||
| Series B preferred stock, $.0001 par value, 4,000 authorized; 0 issued shares and 0 outstanding as of June 30, 2025 and December 31, 2024, respectively | 听 | - | 听 | 听 | 听 | - | 听 |
| Series C preferred stock, | 听 | - | 听 | 听 | 听 | - | 听 |
| Common stock, | 听 | 4,758 | 听 | 听 | 听 | 3,650 | 听 |
| Additional paid-in capital | 听 | 5,445,078 | 听 | 听 | 听 | 2,576,498 | 听 |
| Other comprehensive income | 听 | (8,361 | ) | 听 | 听 | (6,696 | ) |
| Accumulated deficit | 听 | (28,571,537 | ) | 听 | 听 | (21,550,926 | ) |
| Total Stockholders鈥� Deficit | 听 | (23,130,062 | ) | 听 | 听 | (18,977,474 | ) |
| TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS鈥� DEFICIT | $ | 14,355,482 | 听 | 听 | $ | 18,195,701 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| ECD AUTOMOTIVE DESIGN, INC. Unaudited Condensed Consolidated Statements of Operations | |||||||||||||||||||
| 听 | |||||||||||||||||||
| 听 | 听 | 6/30/2025 | 听 | 听 | 6/30/2024 | 听 | 听 | 6/30/2025 | 听 | 听 | 6/30/2024 | ||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Revenue, net | $ | 7,015,892 | 听 | 听 | $ | 6,454,418 | 听 | 听 | $ | 13,437,263 | 听 | 听 | $ | 13,444,164 | 听 | ||||
| Cost of goods sold (exclusive of depreciation) expense shown below) | 听 | 5,627,448 | 听 | 听 | 听 | 4,399,575 | 听 | 听 | 听 | 10,284,247 | 听 | 听 | 听 | 9,863,688 | 听 | ||||
| Gross profit | 听 | 1,388,444 | 听 | 听 | 听 | 2,054,843 | 听 | 听 | 听 | 3,153,016 | 听 | 听 | 听 | 3,580,476 | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Operating expenses: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Advertising and marketing expenses | 听 | 281,503 | 听 | 听 | 听 | 284,572 | 听 | 听 | 听 | 572,382 | 听 | 听 | 听 | 627,981 | 听 | ||||
| General and administrative expenses | 听 | 3,674,493 | 听 | 听 | 听 | 2,269,299 | 听 | 听 | 听 | 7,068,038 | 听 | 听 | 听 | 4,412,849 | 听 | ||||
| Provision for credit losses | 听 | 20,213 | 听 | 听 | 听 | - | 听 | 听 | 听 | 29,508 | 听 | 听 | 听 | - | 听 | ||||
| Depreciation and amortization expenses | 听 | 25,757 | 听 | 听 | 听 | 32,347 | 听 | 听 | 听 | 51,121 | 听 | 听 | 听 | 75,099 | 听 | ||||
| Total operating expenses | 听 | 4,001,965 | 听 | 听 | 听 | 2,586,218 | 听 | 听 | 听 | 7,721,045 | 听 | 听 | 听 | 5,115,929 | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Loss from operations | 听 | (2,613,521 | ) | 听 | 听 | (531,375 | ) | 听 | 听 | (4,568,029 | ) | 听 | 听 | (1,535,453 | ) | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Other income (expense) | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Interest expense | 听 | (2,105,348 | ) | 听 | 听 | (1,306,524 | ) | 听 | 听 | (3,962,327 | ) | 听 | 听 | (2,442,824 | ) | ||||
| Change in fair value of warrant liabilities | 听 | 42,744 | 听 | 听 | 听 | (286,684 | ) | 听 | 听 | 519,327 | 听 | 听 | 听 | (45,045 | ) | ||||
| Change in fair value of conversion option liabilities | 听 | 88,510 | 听 | 听 | 听 | (176,194 | ) | 听 | 听 | 360,989 | 听 | 听 | 听 | (236,859 | ) | ||||
| Gain on conversion of debt to preferred stock | 听 | 433,881 | 听 | 听 | 听 | - | 听 | 听 | 听 | 433,881 | 听 | 听 | 听 | - | 听 | ||||
| Foreign exchange loss | 听 | (15,338 | ) | 听 | 听 | (5,816 | ) | 听 | 听 | (8,829 | ) | 听 | 听 | (10,520 | ) | ||||
| Resale commissions income | 听 | 16,680 | 听 | 听 | 听 | - | 听 | 听 | 听 | 61,600 | 听 | 听 | 听 | 85,100 | 听 | ||||
| Other income (expense), net | 听 | (117,902 | ) | 听 | 听 | 267,386 | 听 | 听 | 听 | (257,223 | ) | 听 | 听 | 225,812 | 听 | ||||
| Total other expense, net | 听 | (1,656,773 | )) | 听 | 听 | (1,507,832 | ) | 听 | 听 | (2,852,582 | ) | 听 | 听 | (2,831,336 | ) | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Loss before income taxes | 听 | (4,270,294 | ) | 听 | 听 | (2,039,207 | ) | 听 | 听 | (7,420,611 | ) | 听 | 听 | (4,366,789 | ) | ||||
| Income tax benefit (expense) | 听 | - | 听 | 听 | 听 | 9,712 | 听 | 听 | 听 | 400,000 | 听 | 听 | 听 | (522,568 | ) | ||||
| Net loss | $ | (4,270,294 | ) | 听 | $ | (2,029,495 | ) | 听 | $ | (7,420,611 | ) | 听 | $ | (4,889,357 | ) | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Net loss per common share, basic and diluted | $ | (0.11 | ) | 听 | $ | (0.06 | ) | 听 | $ | (0.19 | ) | 听 | $ | (0.15 | ) | ||||
| Weighted average number of common shares outstanding, basic and diluted | 听 | 37,222,427 | 听 | 听 | 听 | 31,976,585 | 听 | 听 | 听 | 36,309,363 | 听 | 听 | 听 | 31,898,151 | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| ECD AUTOMOTIVE DESIGN, INC UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| 听 | |||||||
| 听 | Six Months Ended June 30, | ||||||
| 听 | 2025 | 听 | 听 | 2024 | 听 | ||
| Cash flows from operating activities: | 听 | 听 | 听 | ||||
| Net (loss) income | $ | (7,020,611 | ) | 听 | $ | (4,889,357 | ) |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Depreciation and amortization expense | 听 | 51,121 | 听 | 听 | 听 | 75,099 | 听 |
| Gain on FV conversion of debt to preferred stock | 听 | (433,881 | ) | 听 | 听 | - | 听 |
| Change in fair value of warrant liabilities | 听 | (519,327 | ) | 听 | 听 | 452,045 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Change in fair value of conversion option liabilities | 听 | (360,989 | ) | 听 | 听 | 236,860 | 听 |
| Noncash lease expense | 听 | 186,909 | 听 | 听 | 听 | 176,682 | 听 |
| Income tax (benefit) expense | 听 | (400,000 | ) | 听 | 听 | - | 听 |
| Amortization of debt discount | 听 | 1,123,162 | 听 | 听 | 听 | 868,616 | 听 |
| Share-based compensation | 听 | 1,948,094 | 听 | 听 | 听 | 256,959 | 听 |
| Provision for credit losses | 听 | 29,508 | 听 | 听 | 听 | (8,033 | ) |
| Paid in kind interest | 听 | 2,007,292 | 听 | 听 | 听 | - | 听 |
| Inventory write off | 听 | 353,377 | 听 | 听 | 听 | - | 听 |
| Changes in operating assets and liabilities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Accounts receivable | 听 | (590,840 | ) | 听 | 听 | (61,062 | ) |
| Inventories | 听 | 2,909,877 | 听 | 听 | 听 | 371,298 | 听 |
| Prepaid and other current assets | 听 | 28,723 | 听 | 听 | 听 | (371,462 | ) |
| Deposit | 听 | - | 听 | 听 | 听 | 17,486 | 听 |
| Deferred tax asset | 听 | - | 听 | 听 | 听 | 515,444 | 听 |
| Accounts payable | 听 | (528,485 | ) | 听 | 听 | 203,802 | 听 |
| Accrued expenses | 听 | 58,220 | 听 | 听 | 听 | 1,056,933 | 听 |
| Deferred revenue | 听 | (2,833,155 | ) | 听 | 听 | (3,070,627 | ) |
| Other payable | 听 | (78,896 | ) | 听 | 听 | 538,468 | 听 |
| Deferred tax liability | 听 | - | 听 | 听 | 听 | 7,124 | 听 |
| Lease liability | 听 | (173,105 | ) | 听 | 听 | (153,776 | ) |
| Net cash used in operating activities | 听 | (4,243,007 | ) | 听 | 听 | (3,777,501 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash flows from investing activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Disposal of asset | 听 | - | 听 | 听 | 听 | 6,718 | 听 |
| Purchase of assets | 听 | - | 听 | 听 | 听 | (23,764 | ) |
| Net cash used in investing activities | 听 | - | 听 | 听 | 听 | (17,046 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash flows from financing activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Repayment of floor plan payable | 听 | (1,271,138 | ) | 听 | 听 | (356,000 | ) |
| Proceeds from floor plan payable | 听 | 557,458 | 听 | 听 | 听 | 1,677,000 | 听 |
| Proceeds from convertible note | 听 | 2,548,060 | 听 | 听 | 听 | - | 听 |
| Proceeds from note payable | 听 | 3,399,300 | 听 | 听 | 听 | - | 听 |
| Debt issuance costs | 听 | (346,267 | ) | 听 | 听 | - | 听 |
| Repayment of note payable | 听 | (1,514,286 | ) | 听 | 听 | - | 听 |
| Net cash provided by financing activities | 听 | 3,373,127 | 听 | 听 | 听 | 1,321,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Effect of translation changes on cash | 听 | (1,665 | ) | 听 | 听 | - | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Net (decrease) increase in cash and cash equivalents | 听 | (871,545 | ) | 听 | 听 | (2,473,547 | ) |
| Cash and cash equivalents, beginning of year | 听 | 1,476,850 | 听 | 听 | 听 | 8,134,211 | 听 |
| Cash and cash equivalents, end of year | $ | 605,305 | 听 | 听 | $ | 5,660,664 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| ECD AUTOMOTIVE DESIGN, INC ADJUSTED EBITDA (Non GAAP) | |||||||||||||||||||
| 听 | |||||||||||||||||||
| 听 | Six Months Ended | 听 | 听 | 听 | |||||||||||||||
| 听 | 6/30/2025 | 听 | 听 | 6/30/2024 | 听 | 6/30/2025 | 听 | 6/30/2024 | |||||||||||
| Net (loss) income | $ | (4,270,294 | ) | 听 | 听 | $ | (2,029,495 | ) | 听 | $ | (7,020,611 | ) | 听 | $ | (4,889,357 | ) | |||
| Excluding: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||||
| Interest expense | 听 | 2,105,348 | 听 | 听 | 听 | 听 | 1,306,524 | 听 | 听 | 听 | 3,962,327 | 听 | 听 | 听 | 2,422,824 | 听 | |||
| Income tax (benefit) expense | 听 | - | 听 | 听 | 听 | 听 | (9,712 | ) | 听 | 听 | (400,000 | ) | 听 | 听 | 522,568 | 听 | |||
| Equity compensation expense | 听 | 1,064,630 | 听 | 听 | 听 | 听 | 117,500 | 听 | 听 | 听 | 1,540,180 | 听 | 听 | 听 | 117,500 | 听 | |||
| Non-recurring professional fees | 听 | - | 听 | 听 | 听 | 听 | 408,936 | 听 | 听 | 听 | - | 听 | 听 | 听 | 408,936 | 听 | |||
| Gain on FV conversion of debt to preferred stock | 听 | (433,881 | ) | 听 | 听 | 听 | - | 听 | 听 | 听 | (433,881 | ) | 听 | 听 | - | 听 | |||
| Other (income) expense, net | 听 | 117,902 | 听 | 听 | 听 | 听 | (267,386 | ) | 听 | 听 | 257,223 | 听 | 听 | 听 | (225,812 | ) | |||
| Change in FV of warrant liabilities | 听 | (42,744 | ) | 听 | 听 | 听 | 286,684 | 听 | 听 | 听 | (519,327 | ) | 听 | 听 | 452,045 | 听 | |||
| Change in FV of conversion option liabilities | 听 | (88,510 | ) | 听 | 听 | 听 | 176,194 | 听 | 听 | 听 | (360,989 | ) | 听 | 听 | 236,859 | 听 | |||
| Foreign exchange loss | 听 | 15,338 | 听 | 听 | 听 | 听 | 5,816 | 听 | 听 | 听 | 8,829 | 听 | 听 | 听 | 10,520 | 听 | |||
| Depreciation | 听 | 25,757 | 听 | 听 | 听 | 听 | 32,347 | 听 | 听 | 听 | 51,121 | 听 | 听 | 听 | 75,099 | 听 | |||
| Adjusted EBITDA | $ | (1,506,454 | ) | 听 | 听 | $ | 27,408 | 听 | 听 | $ | (2,915,128 | ) | 听 | $ | (848,818 | ) | |||
FAQ
What were ECD Automotive Design's (ECDA) Q2 2025 earnings results?
How much is ECD Automotive Design's (ECDA) new equity facility worth and what is it for?
Who is ECD Automotive Design's new CFO in 2025?
What new product line did ECD Automotive Design launch in Q2 2025?
What retail expansion strategy is ECD Automotive implementing in 2025?
