The company has failed to generate any commercial revenue over the last ten quarters, while quarterly administrative expenses have fluctuated significantly, peaking at $754.7K in 2025Q1.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - |
| Operating Expenses | 1.59M | 1.92M | 2.5M | 1.25M | 432K | 939.52K |
| OpEx % of Revenue | - | - | - | - | - | - |
| Selling, General & Admin | 1.59M | 1.92M | 2.5M | 1.17M | 432K | 939.52K |
| SG&A % of Revenue | - | - | - | - | - | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 450 | 0 | 0 | -82.05K | 0 | 0 |
| Operating Income | -503.53K | 0 | 0 | -1.25M | -508K | -940K |
| Operating Margin % | - | - | - | - | - | - |
| Operating Income Growth % | - | - | 100% | -146.06% | 45.96% | - |
| EBITDA | -907.35K | 17.14K | 28.97K | -1.25M | -442.11K | -820.21K |
| EBITDA Margin % | - | - | - | - | - | - |
| EBITDA Growth % | -17.77% | -40.84% | 102.33% | -181.75% | 46.1% | - |
| D&A (Non-Cash Add-back) | 24.32K | 17.14K | 28.97K | 4.37K | 65.89K | 119.79K |
| EBIT | -931.67K | 0 | 0 | 2.42M | 800.87K | -940K |
| Net Interest Income | 27 | 0 | 0 | 3.66M | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 3.66M | 0 | 0 |
| Interest Expense | -263.28K | -200.95K | 0 | 0 | 0 | 0 |
| Other Income/Expense | 27 | 0 | 0 | 3.66M | 1.31M | 15.71K |
| Pretax Income | -1.86M | -2.12M | -2.5M | 2.42M | 800.87K | -924K |
| Pretax Margin % | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 1.08M | 396.25K | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 44.64% | 49.48% | 0% |
| Net Income | -1.86M | -2.12M | -2.5M | 1.34M | 404.62K | -924K |
| Net Margin % | - | - | - | - | - | - |
| Net Income Growth % | 38.94% | 15.3% | -287.16% | 230.44% | 143.79% | - |
| Net Income (Continuing) | -1.86M | -2.12M | 0 | 1.34M | 404.62K | -924K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.04 | -0.04 | -0.06 | 0.13 | -0.01 | -0.02 |
| EPS Growth % | 58.68% | 33.33% | -146.15% | - | 53.03% | - |
| EPS (Basic) | - | -0.04 | -0.06 | 0.13 | -0.01 | -0.02 |
| Diluted Shares Outstanding | 50.72M | 50.72M | 44.74M | 10.24M | 247.12M | 46.66M |
| Basic Shares Outstanding | 50.72M | 50.55M | 44.74M | 10.24M | 247.14M | 46.66M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Imminent liquidity and going-concern
As indicated by the company's historical financial statements, AIEV has generated zero revenue across the entire ten-quarter period, confirming its status as a pre-operational entity that has yet to achieve any meaningful commercial traction or market entry for its proposed vehicle lineup.
The lack of top-line growth suggests that the company remains trapped in a development phase without a clear path to market. Investors should monitor the absence of revenue as a primary indicator of execution failure, as the company has failed to transition from prototype development to commercial sales.
According to the provided income statement data, AIEV's quarterly SG&A expenses have fluctuated significantly, reaching as high as $754.7K in 2025Q1, which highlights a lack of disciplined cost control while the company maintains no offsetting revenue streams to support its ongoing operational overhead.
The volatility in administrative spending appears disconnected from any tangible progress toward production milestones. This pattern of spending suggests that capital is being consumed primarily for corporate maintenance rather than the technical R&D required to bring a vehicle to market.
Based on reported figures, the company has consistently posted net losses, including a $493.7K deficit in 2026Q1, which underscores the structural inability of the current business model to cover its basic operating costs without continuous external capital injections or dilutive financing events.
The recurring net losses, coupled with the absence of revenue, imply that the company's equity value is being eroded by ongoing operational burn. The quality of these earnings is effectively non-existent, as the losses are purely driven by administrative overhead rather than investments in productive capacity.
As reported in recent financial filings, the company's nominal cash balance of $10,093 against persistent quarterly losses suggests a critical liquidity shortfall that may necessitate immediate and highly dilutive financing to prevent a total cessation of operations or a potential bankruptcy filing.
The disparity between the company's capital requirements and its current cash position warrants extreme caution, as it appears the entity lacks the financial runway to reach commercialization. The market may be underestimating the risk that the company will be unable to secure the necessary funding to remain a going concern.
Quick answers to the most common questions about buying AIEV stock.
For fiscal year 2025, Thunder Power Holdings, Inc. (AIEV) reported total revenue of $0.0M.
Thunder Power Holdings, Inc. (AIEV) reported a net loss of $2.1M for the fiscal year ending 2025.