$CENN
Cenntro Inc.
CIK:0001707919|SEC Filings
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Net revenues | $ 6,221,822 | $ 6,406,918 | $ 7,433,982 | $ 8,549,976 | ||
| Cost of goods sold | (5,809,002) | (6,425,822) | (6,784,034) | (8,247,353) | ||
| Gross profit (loss) | 412,820 | (18,904) | 649,948 | 302,623 | ||
| OPERATING EXPENSES: | ||||||
| Selling and marketing expenses | (670,974) | (227,580) | (965,241) | (1,004,297) | ||
| General and administrative expenses | (3,831,516) | (5,167,754) | (7,240,475) | (10,101,922) | ||
| Research and development expenses | (465,267) | (648,861) | (943,400) | (1,433,039) | ||
| Impairment loss | (2,917,428) | 0 | (2,917,428) | 0 | ||
| Provision for credit losses | (26,513) | (2,035,343) | (62,831) | (2,035,343) | ||
| Total operating expenses | (7,911,698) | (8,079,538) | (12,129,375) | (14,574,601) | ||
| Loss from operations | (7,498,878) | (8,098,442) | (11,479,427) | (14,271,978) | ||
| OTHER INCOME (EXPENSE): | ||||||
| Interest expense, net | (153,186) | (156,396) | (241,256) | (275,084) | ||
| Gain (loss) from long-term investments | 4,263 | 3 | (41) | (36) | ||
| Change in fair value of convertible promissory notes and derivative liability | 1,098,426 | (134,161) | 1,333,290 | (137,290) | ||
| Loss from Note Amendment | 0 | (1,756,137) | 0 | (1,756,137) | ||
| Gain from early termination of lease contract | 0 | 0 | 0 | 1,138 | ||
| Change in fair value of equity securities | 0 | 259,565 | 0 | 516,277 | ||
| Foreign currency exchange (loss) gain, net | (82,854) | 567,141 | (189,848) | 971,332 | ||
| Gain from disposal of Cenntro Electric CICS, SRL’s equity | 0 | 1,157,556 | 0 | 1,157,556 | ||
| Loss on deconsolidation of a subsidiary due to insolvency | (1,902,577) | 0 | (1,902,577) | 0 | ||
| Gain (loss) from cross-currency swaps | 167 | 26,445 | 19,517 | (9,695) | ||
| Other income (expense), net | 733,427 | (70,378) | 583,588 | 225,214 | ||
| Net loss from continuing operations before taxes | (7,801,212) | (8,204,804) | (11,876,754) | (13,578,703) | ||
| Income tax benefit | 122,143 | 15,408 | 135,068 | 27,040 | ||
| Net loss from continuing operations | (7,679,069) | (8,189,396) | (11,741,686) | (13,551,663) | ||
| Discontinued operations: | ||||||
| Loss from discontinued operations, net of tax | (2,935,552) | (1,705,812) | (2,795,767) | (2,009,202) | ||
| Net loss | (10,614,621) | (9,895,208) | (14,537,453) | (15,560,865) | ||
| Less: net loss attributable to non-controlling interests | (45,829) | (5,871) | (60,562) | (17,192) | ||
| Net loss attributable to the Company’s shareholders | (10,568,792) | (9,889,337) | (14,476,891) | (15,543,673) | ||
| OTHER COMPREHENSIVE INCOME | ||||||
| Foreign currency translation adjustment | 3,029,611 | 1,097,728 | 3,530,077 | 1,488,890 | ||
| Unrealized holding gains for available-for-sale securities | 3,430 | 7,500 | 10,930 | 15,000 | ||
| Total comprehensive loss | (7,581,580) | (8,789,980) | (10,996,446) | (14,056,975) | ||
| Less: total comprehensive loss attributable to non-controlling interests | (45,079) | (4,547) | (58,725) | (15,524) | ||
| Total comprehensive loss attributable to the Company’s shareholders | $ (7,536,501) | $ (8,785,433) | $ (10,937,721) | $ (14,041,451) | ||
| Weighted average number of shares outstanding, basic (in Shares) | [1] | 1,773,110 | 606,643 | 1,620,013 | 560,798 | |
| Weighted average number of shares outstanding, diluted (in Shares) | [1] | 1,773,110 | 606,643 | 1,620,013 | 560,798 | |
| Loss per common share | ||||||
| Continuing operations - Basic (in Dollars per share) | $ (4.31) | $ (13.49) | $ (7.21) | $ (24.13) | ||
| Continuing operations - Diluted (in Dollars per share) | (4.31) | (13.49) | (7.21) | (24.13) | ||
| Discontinued operations - Basic (in Dollars per share) | (1.66) | (2.81) | (1.73) | (3.58) | ||
| Discontinued operations - Diluted (in Dollars per share) | (1.66) | (2.81) | (1.73) | (3.58) | ||
| Net loss per common share, basic (in Dollars per share) | (5.97) | (16.3) | (8.94) | (27.71) | ||
| Net loss per common share, diluted (in Dollars per share) | $ (5.97) | $ (16.3) | $ (8.94) | $ (27.71) | ||
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