Ideanomics’ Revenue Breakdown by Region (2018 – 2022)

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This statistic highlights Ideanomics’ Revenue Breakdown by Region from Q3 2018 onwards, split between China, Malaysia and the US.
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This statistic highlights Ideanomics’ Revenue Breakdown by Region from Q3 2018 onwards, split between China, Malaysia and the US.

Ideanomics’ Revenue Breakdown by Region

The table below represents Ideanomics’ Revenue Breakdown by Region in some of its recent quarters.

Region Q2 2020  Q1 2021  Q2 2021 Contribution in Q2 2021
China $4.58 $3.06 $5.79 17.40%
Malaysia $0.01 $0.01 $0.04 0.10%
USA $0.11 $29.65 $27.38 82.40%
Total $4.69 $32.71 $33.22 100%

(All figures in millions, except percentages)

The graph shows that the total revenue generated increased dramatically from Q2 2020 to Q1 2021 that is from $4.69 million to $32.71 million respectively, marking a percentage growth of 85.66%. It even showed a drastic growth on a Year-on-Year basis that is from $4.69 million in Q2 of the year 2020 to $33.22 million in Q2 of the year 2021, marking a percentage growth of 85.87%.

The graphs also show a slight increase on a Quarter-on-Quarter basis in total revenue from $32.71 million in Q1 of the year 2021 to $ 33.22 million in Q2 of the year 2021.

 USA Region

Through the graph, it can be interpreted that the majority of the total revenue among all the regions in every quarter on an average is generated from the USA region. Even in the latest quarter that is Q2 of the year 2021, 82.4% of the total revenue generated is obtained from the USA region. However, the revenue generated from the USA decreased slightly to $ 27.38 million in Q2 of the year 2021 from $ 29.65 million in Q1 of the year 2021, marking a percentage decrease of 8% on a Quarter-on-Quarter basis. Whereas, on a Year-on-Year basis the revenue generated from the USA region increased exponentially, marking a percentage growth of 99.62% from the Q2 of the year 2020 to the Q2 of 2021.

China Region

After the USA, China is the largest contributor in total revenues of Ideanomics. Even in the latest quarter that is Q2 of the year 2021, 17.4% of the total revenue generated is obtained from the China region. 

Revenue generated from China decreased from $4.58 million in Q2 of the year 2020 to $3.06 million in Q1 of the year 2021, marking a decrease of 33%. However, there was an increase in revenue generated from this region on a Quarter-on-Quarter basis as well on a Year-on-Year basis that is, Revenue increased from $3.06 million in Q1 of the year 2021 to $5.79 million in Q2 of the year 2021 and an increase from $4.58 million in Q2 of the year 2020 to $5.79 million in Q2 of the year 2021, marking a percentage growth of 47% and 21% respectively.

Malaysia Region

 The Malaysia region contributes a very small part to the total revenue of Ideanomics.In the latest quarter that is Q2 of the year 2021, only 0.1% of the total revenue generated is obtained from the Malaysia region. 

There was an increase in revenue generated from this region on a Quarter-on-Quarter basis as well on a Year-on-Year basis that is, Revenue increased from $0.01 million in Q1 of the year 2021 to $0.04 million in Q2 of the year 2021 and an increase from $0.01 million in Q2 of the year 2020 to $0.04 million in Q2 of the year 2021, marking a percentage growth of 75% each.

 Ideanomics stated that they encountered disruptions involving power, communications, transportation or other utilities or essential services depending on them or by third parties with whom they conduct business. In 2020, China and other countries experienced the spread of the coronavirus pandemic. At a minimum, they believe this pandemic significantly affected the timing and amount of their revenue for 2020. They further stated that similar potential disruptions may occur in any of the locations in which they, their counterparties or their customers do business. They continue to assess the potential impact on their counterparties and customers of such events, and what impact, if any, these events could have on their businesses, financial condition, results of operations and prospects.

About the Company 

Ideanomics, Inc. (Nasdaq: IDEX) was incorporated on October 19, 2004, in the State of Nevada. From 2010 to 2017, they provided premium content video on demand (“VOD”) services, with primary operations in the PRC, under the brand name You-on-Demand (“YOD”). They closed the YOD business during 2019.

Starting in early 2017, to become a next-generation financial technology (“fintech”) company. The Company transitioned its business model 

Principal Products or services

The Company functions in 1 segment which has two business units, 

  1. Mobile Energy Global- MEG’s mission is to use EV and EV battery sales and financing to attract commercial fleet operators that will generate large scale demand for energy, Energy Storage Systems (ESS) and Energy Management Contracts (EMC).
  2. Ideanomics Capital – This business unit consists of EKAR – Exchange Traded Fund (ETF), Intelligenta and Delaware Board of Trade (DBOT).

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