ECD Auto Design reported record Q1 2024 revenues of $8.3 million, up 207% YoY, with gross margin expanding to 30.1% from 10.4%. The company achieved positive Adjusted EBITDA of $0.4 million, improving by $1.4 million YoY. Despite operational improvements, net loss was $1.6 million due to interest expenses from convertible notes.The growth was driven by a $63,071 increase in average vehicle selling price and improved production efficiency. The company has expanded its product lineup through the acquisition of Brand New Muscle Car assets for classic Mustangs and a licensing agreement with Black Dog Trading for Toyota FJs.Management reaffirmed full-year 2024 revenue guidance of $33 million, representing 108% growth from 2023. The company maintains a strong liquidity position with $5.6 million in cash as of March 31, 2024, and aims to expand beyond manufacturing in the $15 billion classic car ecosystem.

ECD Auto Design reported record Q1 2024 revenues of $8.3 million, up 207% YoY, with gross margin expanding to 30.1% from 10.4%. The company achieved positive Adjusted EBITDA of $0.4 million, improving by $1.4 million YoY. Despite operational improvements, net loss was $1.6 million due to interest expenses from convertible notes.The growth was driven by a $63,071 increase in average vehicle selling price and improved production efficiency. The company has expanded its product lineup through the acquisition of Brand New Muscle Car assets for classic Mustangs and a licensing agreement with Black Dog Trading for Toyota FJs.Management reaffirmed full-year 2024 revenue guidance of $33 million, representing 108% growth from 2023. The company maintains a strong liquidity position with $5.6 million in cash as of March 31, 2024, and aims to expand beyond manufacturing in the $15 billion classic car ecosystem.