Company profile

Ticker
ADOM
Exchange
CEO
James Lee Reynolds
Employees
Incorporated in
Location
Fiscal year end
SEC CIK

ADOM stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

30 Apr 20
8 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 284K 2.01M 5.74M 4.39M
Net income -1.27M -1.19M -1.22M -1.29M
Diluted EPS -0.02 -0.02 -0.02 -0.02
Net profit margin -446% -59.30% -21.21% -29.49%
Operating income -1.27M -1.19M -1.22M -1.32M
Net change in cash -3.95M 1.36M 271K 412K
Cash on hand 486K 4.43M 3.07M 2.8M
Cost of revenue 80K 1.85M 5.32M 4.06M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 12.56M 5.01M 425K 68K
Net income -5.15M -11.05M -21.9M -10.69M
Diluted EPS -0.07 -0.15 -0.33 -0.16
Net profit margin -41.02% -220% -5154% -15713%
Operating income -5.21M -11.38M -21.6M -9.53M
Net change in cash 673K 1.31M 1.51M -3.6M
Cash on hand 4.43M 3.76M 2.45M 938K
Cost of revenue 11.63M 4.88M 479K 50K

Financial data from Adomani earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
13 May 20 Boydell Janet L. Stock Option Common Stock Grant Aquire A No 0.12 33,571 4.03K 78,571
13 May 20 Eckert Richard A. Stock Option Common Stock Grant Aquire A No 0.12 358,571 43.03K 628,571
13 May 20 Kevin G. Kanning Stock Option Common Stock Grant Aquire A No 0.12 135,714 16.29K 2,735,714
13 May 20 Menerey Michael K. Common Stock Common Stock Grant Aquire A No 0.12 358,571 43.03K 628,571
13 May 20 Nettles Gary W Stock Option Common Stock Grant Aquire A No 0.12 33,571 4.03K 78,571
0.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 2 3 -33.3%
Opened positions 0 2 EXIT
Closed positions 1 8 -87.5%
Increased positions 1 0 NEW
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 1K 4K -75.0%
Total shares 9.83K 42.42K -76.8%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Victory Capital Management 9.83K $1K +3.2%
Proequities 0 $0
Largest transactions
Shares Bought/sold Change
Vicus Capital 0 -32.88K EXIT
Victory Capital Management 9.83K +301 +3.2%
Proequities 0 0

Financial report summary

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Competition
NavistarTeslaWorkhorseGeo MineralsBYDGeo MineralsGeneral MotorsProterraMotivWorkhorse
Risks
  • We have a history of losses and we may not achieve or sustain profitability in the future.
  • Our limited operating history makes it difficult to evaluate our current business and future prospects.
  • Our future growth is dependent upon demand for new mid-sized delivery trucks and cargo vans, buses, and other fleet vehicles with zero-emission drivetrain systems and on demand for re-power conversion kits for existing diesel- and gasoline-powered buses, truck and other fleet vehicles to zero-emission electric drivetrain systems.
  • We may not be able to compete successfully against current and future competitors.
  • Our sales cycle can be long and unpredictable and require considerable time and expense before executing a customer agreement, which may make it difficult to project when, if at all, we will obtain new customers and generate revenue from those customers.
  • Developments in alternative technologies or improvements in the internal combustion engine may materially adversely affect the demand for electric vehicles and our products.
  • The demand for commercial zero-emission electric vehicles depends, in part, on the continuation of current trends resulting from historical dependence on fossil fuels. Extended periods of low diesel or other petroleum-based fuel prices could adversely affect demand for vehicles that utilize our technology, which could adversely affect our business, prospects, financial condition and operating results.
  • We may not be able to reduce and adequately control the costs and expenses associated with operating our business, including our material and production costs.
  • If we fail to manage our anticipated growth effectively, we may be unable to execute our business plan, maintain high levels of service or address competitive challenges adequately.
  • We are dependent on third parties to deliver raw materials, parts, components and services in adequate quantity in a timely manner and at reasonable prices, quality levels, and volumes acceptable to us. Our business, prospects, financial condition and operating results could be adversely affected if we experience disruptions in our supply chain.
  • The facilities or operations of our third party providers could be damaged or adversely affected as a result of disasters or unpredictable events.
  • If our suppliers fail to use ethical business practices and comply with applicable laws and regulations, our brand image could be harmed due to negative publicity.
  • Our business success will depend in part on the success of our strategic relationships with third parties. We may not be able to identify adequate strategic relationship opportunities, or form strategic relationships, in the future.
  • Our suppliers must scale their zero-emission vehicle manufacturing, assembling, and converting processes effectively and quickly from low volume production to high volume production.
  • We may be compelled to undertake product recalls.
  • Our insurance strategy may not be adequate to protect us from all business risks.
  • If we are unable to design, develop, market and sell zero-emission electric vehicles and other product offerings that address additional market opportunities, our business, prospects and operating results will suffer.
  • Our decentralized assembly, sales and service model will present numerous challenges and we may not be able to execute on our plan to establish sales, service and assembly facilities in the urban areas we have targeted and our facilities in any of those markets may underperform relative to our expectations.
  • Vehicle dealer and distribution laws could adversely affect our ability to sell our commercial zero-emission electric vehicles.
  • We may face risks associated with our international business.
  • We are subject to various environmental laws and regulations that could impose substantial costs upon us and cause delays in opening our sales, service and assembly facilities.
  • Any failure to protect our intellectual property rights could impair our ability to protect our proprietary technology.
  • We could incur substantial costs as a result of any claim of infringement of another party’s intellectual property rights.
  • Unfavorable conditions in the global economy, rising interest rates and capital market liquidity issues could limit our ability to grow our business and negatively affect our operating results.
  • Our business depends on our Chief Executive Officer and management team, retaining and attracting qualified management, key employees and technical personnel and expanding our sales and marketing capabilities.
  • The forecasts of market growth may prove to be inaccurate, and even if the markets in which we compete achieve the forecasted growth, our business may not grow at similar rates, if at all.
  • We will require additional capital to support business growth, and this capital might not be available on acceptable terms, if at all.
  • We may selectively pursue acquisitions of complementary businesses and technologies, which could divert capital and our management’s attention, result in additional dilution to our stockholders and otherwise disrupt our operations and adversely affect our operating results.
  • If we are unable to maintain effective internal control over financial reporting and effective disclosure controls and procedures, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of our common stock may be negatively affected.
  • We are an emerging growth company and the reduced disclosure requirements applicable to emerging growth companies may make our common stock less attractive to investors.
  • We may not be able to utilize a significant portion of our net operating loss or research and development tax credit carryforwards, which could adversely affect our profitability.
  • Our reported financial results may be adversely affected by changes in accounting principles generally accepted in the United States.
  • The warrants issued in connection with our January 2018 public offering contain anti-dilution rights which could cause their exercise price to be reduced and the number of shares underlying such warrants to be correspondingly increased, which could result in substantial dilution to our existing stockholders and adversely affect the market price of our securities.
  • We have and will continue to incur increased costs and demands upon management as a result of complying with the laws and regulations affecting public companies, which adversely affect our operating results.
  • NASDAQ has delisted our common stock from trading on its exchange, which could limit stockholders’ ability to trade our common stock.
  • We may fail to meet our publicly announced guidance or other expectations about our business, which would cause our stock price to decline.
  • The concentration of our common stock ownership with our executive officers, directors and affiliates will limit your ability to influence corporate matters.
  • We do not intend to pay dividends for the foreseeable future.
  • Provisions in our charter documents and under Delaware law could discourage a takeover that stockholders may consider favorable.
Management Discussion
  • Sales were $283,457 and $420,320 for the three months ended March 31, 2020 and 2019, respectively. Sales for the three months ended March 31, 2020 consisted of a cargo van sold to the City of Orlando Florida, fees due us relating to the Blue Bird termination agreement, as discussed in Note 2 to our unaudited consolidated financial statements included in this Quarterly Report, and maintenance and inspection services provided.
  • Cost of sales were $79,750 and $390,845 for the three months ended March 31, 2020 and 2019, respectively. Cost of sales for the three months ended March 31, 2020 consisted of the cost related to the sale of the cargo van sold to the City of Orlando.
  • General and administrative expenses were approximately $1.4 million  for both the three months ended March 31, 2020 and 2019. While general and administrative expenses for the three months ended March 31, 2020 and 2019 were essentially the same, we experienced increases in legal and professional fees,   payroll and insurance expenses, offset by a decrease in stock-based compensation expense, and  in other general and administrative expenses. General and administrative expenses for the three months ended March 31, 2020 include approximately $211,856 in non-cash charges, including $200,340 in stock-based compensation expense.
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