Revenue contracted to $3.5 million in 2024Q4, while the company continues to struggle with manufacturing inefficiencies that resulted in a -3.6% gross margin.
| Sales/Revenue | 6.92M | 9.48M | 14.96M | 22.3M | 26.52M |
| Revenue Growth % | -27.08% | -36.62% | -32.92% | -15.89% | - |
| Cost of Goods Sold | 31.74M | 42.25M | 53.29M | 79.55M | 91.95M |
| COGS % of Revenue | 459.02% | 445.49% | 356.17% | 356.69% | 346.79% |
| Gross Profit | -24.83M | -32.76M | -38.33M | -57.25M | -65.44M |
| Gross Margin % | -359.02% | -345.49% | -256.17% | -256.69% | -246.79% |
| Gross Profit Growth % | 24.23% | 14.51% | 33.06% | 12.51% | - |
| Operating Expenses | 32.45M | 55.96M | 79.94M | 71.91M | 40.66M |
| OpEx % of Revenue | 469.33% | 590.13% | 534.31% | 322.45% | 153.34% |
| Selling, General & Admin | 30.86M | 47.28M | 65.32M | 50.44M | 34.45M |
| SG&A % of Revenue | 446.33% | 498.59% | 436.63% | 226.16% | 129.91% |
| Research & Development | 1.48M | 8.4M | 13.77M | 15.42M | 5.69M |
| R&D % of Revenue | 21.37% | 88.56% | 92.05% | 69.14% | 21.46% |
| Other Operating Expenses | 112K | 283K | 842K | 6.05M | 522K |
| Operating Income | -57.28M | -88.72M | -118.26M | -129.16M | -106.09M |
| Operating Margin % | -828.34% | -935.62% | -790.48% | -579.13% | -400.13% |
| Operating Income Growth % | 35.44% | 24.98% | 8.44% | -21.74% | - |
| EBITDA | -34.15M | -54.1M | -73.61M | -74.85M | -47.88M |
| EBITDA Margin % | -493.81% | -570.55% | -492.01% | -335.61% | -180.58% |
| EBITDA Growth % | 36.89% | 26.5% | 1.66% | -56.33% | - |
| D&A (Non-Cash Add-back) | 23.13M | 34.62M | 44.65M | 54.31M | 58.21M |
| EBIT | -52.43M | -88.44M | -117.42M | -123.11M | -105.57M |
| Net Interest Income | -16.52M | -14.14M | -13.88M | -14.21M | -14.46M |
| Interest Income | 51K | 0 | 0 | 0 | 0 |
| Interest Expense | 16.57M | 14.14M | 13.88M | 14.21M | 14.46M |
| Other Income/Expense | -11.72M | -9.78M | 6.75M | 66.61M | 47.63M |
| Pretax Income | -69M | -98.5M | -111.52M | -62.55M | -58.47M |
| Pretax Margin % | -997.9% | -1038.71% | -745.39% | -280.46% | -220.5% |
| Income Tax | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% |
| Net Income | -46.9M | -68.11M | -77.26M | -29.91M | -29.11M |
| Net Margin % | -678.16% | -718.24% | -516.38% | -134.11% | -109.78% |
| Net Income Growth % | 31.15% | 11.84% | -158.29% | -2.75% | - |
| Net Income (Continuing) | -69M | -98.5M | -111.52M | -62.55M | -58.47M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 33.78M | 53.96M | 84.71M | 120.31M | 152.32M |
| EPS (Diluted) | -866.00 | -1290.00 | -1523.00 | -590.00 | -328.00 |
| EPS Growth % | 32.87% | 15.3% | -158.14% | -79.88% | - |
| EPS (Basic) | -866.00 | -1290.00 | -1523.00 | -590.00 | -328.00 |
| Diluted Shares Outstanding | 54.13K | 52.81K | 50.71K | 50.71K | 88.7K |
| Basic Shares Outstanding | 54.13K | 52.81K | 50.71K | 50.71K | 88.7K |
| Dividend Payout Ratio | - | - | - | - | - |
Imminent liquidity and solvency crisis
As reported in recent financial filings, Chijet's revenue plummeted to $3.5 million in 2024Q4, representing a 48.9% year-over-year decline that underscores the company's inability to establish a sustainable market presence or maintain consistent vehicle delivery volumes within the highly competitive Chinese electric vehicle landscape.
The consistent downward trend in top-line performance suggests that the company is struggling to gain traction with its product offerings. This revenue decay, coupled with the lack of scale, implies that the business model may be failing to resonate with consumers or that supply chain constraints are severely limiting output.
Based on the provided income statement data, Chijet maintains a gross margin of -359% in recent periods, indicating that the cost of goods sold significantly exceeds revenue and suggesting that the company is currently unable to achieve even basic manufacturing cost recovery on its vehicle sales.
Such extreme margin compression points to massive unabsorbed manufacturing overhead and a lack of pricing power. Investors should monitor whether these negative margins are a permanent feature of the current cost structure or if they reflect temporary inefficiencies that could be mitigated by higher production volumes.
According to historical income statements, Chijet's operating expenses consistently dwarf gross profit, with operating losses reaching $30.3 million in 2024Q4, which demonstrates a complete lack of operating leverage and an inability to scale the business without incurring disproportionately high administrative and research costs.
The persistent gap between revenue and operating expenses suggests that the company's fixed-cost base is far too large for its current output. This structure implies that any potential path to profitability would require a radical transformation of the cost base rather than simple incremental growth.
As indicated by the company's $3.7 million cash balance against massive quarterly operating losses, the financial data suggests that Chijet is facing an imminent liquidity crisis that may render its manufacturing licenses and strategic partnerships irrelevant before the company can achieve any meaningful operational scale.
Short-term survival appears highly dependent on external capital injections, which may be difficult to secure given the current trajectory of losses. The market's valuation of the company as an automaker may be fundamentally flawed if the entity is effectively a distressed asset with limited runway.
Quick answers to the most common questions about buying CJET stock.
For fiscal year 2024, Chijet Motor Company, Inc. (CJET) reported total revenue of $6.9M. This represents a 73.9% decline compared to $26.5M in 2020.
Chijet Motor Company, Inc. (CJET) reported a net loss of $46.9M for the fiscal year ending 2024.
Chijet Motor Company, Inc. (CJET) reported an operating income of $-57.3M, resulting in an operating profit margin of -828.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Chijet Motor Company, Inc. (CJET) generated $-24.8M in gross profit for the year, representing a gross profit margin of -359.0%. This demonstrates the company's core pricing power and production efficiency.