Cenntro (CENN) Q2 2026 earnings summary

Executive summary

• Net revenues for the six months ended June 30, 2026, were $7.4M, down 13.1% year-over-year, mainly due to lower vehicle sales, partially offset by higher spare-part sales from iChassis™ units.

• Gross profit increased to $0.65M (8.7% margin) from $0.3M (3.5% margin) year-over-year, driven by improved vehicle sales margins.

• Net loss attributable to shareholders was $14.5M for the six months ended June 30, 2026, compared to $15.5M in the prior year.

• The company completed a strategic restructuring in Europe, dissolving three subsidiaries and shifting to a dealership model, with a $4.7M deconsolidation loss recorded.

Financial highlights

• Net revenues: $7.4M (down from $8.5M year-over-year); vehicle sales $5.3M, spare-parts $2.0M.

• Gross profit: $0.65M (8.7% margin), up from $0.3M (3.5% margin) year-over-year.

• Net loss: $14.5M for the six months ended June 30, 2026, versus $15.5M prior year.

• Adjusted EBITDA for the six months was $(12.1)M, compared to $(10.9)M year-over-year.

• Cash and cash equivalents at June 30, 2026: $4.3M; working capital: $16.4M.

Outlook and guidance

• Management expects continued rollout of new ECV models in North America and Europe, expansion of local assembly facilities, and further investment in R&D.

• Cash improvement initiatives are underway, with management believing liquidity is sufficient for the next twelve months.

• Long-term plans include regionalizing manufacturing and supply chains, and expanding after-sales services.