0001493152-26-019360
SEC filingRevenue grew 9.6% to $23.2M from EV and accessories sales while gross margins expanded to 13.3%, but intensified R&D investments and public company costs drove operating losses wider to -$4.1M and net losses to -$5.5M amid ongoing cash burn.
Lobo EV Technologies Ltd. delivered revenue growth of 9.6% to $23.2 million in FY2025, primarily from increased electric vehicles and accessories sales as highlighted in management discussion. This topline momentum reflects successful salesforce expansion to capture market opportunities, with gross profit advancing 26.0% to $3.1 million and margins expanding to 13.3%. The improvement stems from core manufacturing efficiencies in raw materials, battery packs, and overhead, positioning the company for scalable production.
However, operating income deteriorated -108.6% to -$4.1 million, driven by elevated research and development expenses. Management explains these investments build foundational capabilities to more effectively meet future market demand, alongside higher selling and marketing costs from expanded salesforce and salaries. General and administrative expenses also rose due to public company obligations like audit and consulting fees, plus factory 5S methodology implementation. These strategic outlays, while widening the operating margin to -17.5%, underscore Lobo's commitment to innovation in tricycles, e-carts, and new four-wheeler production.