They’ve been profitable, in 2022 having a revenue of $8.69B and net income of $2.06B, a 23.71% margin. But thanks to a since replaced CEO’s idea to buy 60,000 EVs that have depreciated $440M since 2021, their earnings were terrible the last two quarters.
Right now their market cap is $1.35 billion, less than 2022 revenue and with an enterprise value of $19.5B, they seem incredibly undervalued.
