Vmoto Limited reported an 18% revenue decline to $46.8 million and a $9.9 million net loss in FY25, while accelerating its transformation into a full-stack electric mobility solutions provider with new global partnerships and product innovations.
- FY25 revenue down 18% to $46.8 million, net loss after tax $9.9 million
- Strategic pivot to full-stack B2B fleet electrification solutions including battery swapping and fast charging
- Strong order book growth of 268% to 7,462 units, with Q4 sales up 68%
- Expanded presence in South America, Middle East, Africa; exited China market
- Partnership with Uber Europe and investment in Zenion Limited to boost fleet electrification
Navigating a Challenging Market
Vmoto Limited’s FY25 results reveal a company in transition amid a tough global electric vehicle (EV) landscape. The company’s revenue declined 18% to $46.8 million, and it posted a net loss after tax of $9.9 million. European EV two-wheeler sales softened, impacted by subsidy cuts, while global growth remained modest. Yet, Vmoto is steering its business towards becoming a leading full-stack electric mobility solutions provider, focusing on B2B fleet electrification.
Expanding the Electric Ecosystem
Vmoto’s strategy now encompasses more than just electric motorcycles and mopeds. The company has broadened its product suite to include battery swapping and fast charging stations, complemented by a proprietary electric mobility management system. This integrated platform connects vehicles, charging infrastructure, and fleet management software with real-time GPS and AI-driven features, aiming to offer customers a seamless, end-to-end electric mobility experience.
Global Footprint and Strategic Partnerships
While European sales declined, Vmoto successfully grew its footprint in emerging markets such as South America, the Middle East, and Africa. The company also exited the highly competitive Chinese market to concentrate resources on regions with stronger growth potential. Notably, Vmoto secured a strategic partnership with Uber Europe to support the electrification of Uber’s fleet across major cities, aligning with Uber’s goal to electrify 100,000 vehicles by 2030. Additionally, an investment in UK-based Zenion Limited, which operates last-mile delivery fleets, further strengthens Vmoto’s position in the B2B delivery segment.
Operational Highlights and Financial Health
Despite the revenue decline, Vmoto’s order book surged 268% year-on-year to 7,462 units, with Q4 sales rising 68%, signaling a rebound in demand. The company also completed a $4.7 million share buy-back and maintains a solid cash position of $32.4 million. However, FY25 results were affected by a $1.8 million doubtful debt related to a defaulting Netherlands customer and a $996,000 inventory impairment from obsolete stock inherited through acquisitions.
Looking Ahead: Building a Sustainable EV Future
Vmoto is investing in new manufacturing and assembly facilities, including a new plant in China (with interior works starting in 2026) and assembly operations in Thailand, where it also signed a strategic cooperation agreement to promote local EV supply and services. The company remains confident in the long-term growth of the last-mile delivery EV market, projected to reach US$8.3 billion by 2033, driven by cost savings, regulatory bans on internal combustion engines in urban centres, and the shift towards integrated mobility solutions.
Vmoto’s transformation from a traditional manufacturer to a full-stack electric mobility solutions provider positions it uniquely in a rapidly evolving sector. The company’s focus on B2B fleet electrification, combined with its expanding global footprint and technology investments, could unlock new revenue streams and competitive advantages as the EV ecosystem matures.
Bottom Line?
Vmoto’s FY25 results underscore a challenging year but highlight a strategic pivot that could redefine its role in the global electric mobility revolution.
Questions in the middle?
- How quickly will Vmoto’s investments in battery swapping and charging infrastructure translate into profitability?
- What impact will the exit from China have on Vmoto’s long-term growth and market share?
- Can the partnership with Uber Europe and investments in emerging markets drive sustained order book growth?