Vmoto Reports Record $35.7M Half-Year Sales Amid Strategic Global Expansion

Sales Surge and Revenue Growth

Vmoto Limited (ASX:VMT) delivered a standout first half of 2026, reporting record revenue of $35.7 million, a 72% jump from the same period last year. The company sold 12,713 electric motorcycles and mopeds, marking a 140% increase on 1HY2025 and the first time Vmoto has exceeded 6,000 units in two consecutive quarters. This surge was driven by strong international orders, which stood at 5,504 units at the end of June, maintaining momentum after a 6,020-unit delivery in Q2.

Strategic Partnerships and Market Expansion

Vmoto’s growth is underpinned by several strategic moves. A landmark global agreement with MotoGP Sports Entertainment Group S.L. positions Vmoto as the official producer and distributor of three MotoGP edition electric scooters until 2030. The deal leverages MotoGP’s massive global fanbase, expected to boost brand visibility and sales through to FY2030.

In Southeast Asia, Vmoto secured a joint investment agreement with Tora Leasing Co, Ltd, with Tora committing up to THB 77.8 million (approximately A$3.3 million) for a 49% stake in Vmoto Thailand. This partnership not only injects capital but also grants exclusivity for government projects in Thailand, where Vmoto’s assembly facilities are now fully operational. The first tranche of investment was received post-period, signalling active progress.

Further international expansion includes Vmoto’s selection for the City of Haarlem’s emission-free scheme in the Netherlands, a pioneering municipal initiative to phase out petrol mopeds by 2028. The company also launched operations in Pakistan and signed a strategic cooperation framework with Riyadh-based Alsak Investment Company to explore a regional hub for the Middle East and North Africa.

Financial Position and Operational Highlights

Despite the revenue surge, Vmoto reported a net loss after tax of $3.06 million, a modest 3.7% increase from the prior year’s loss. Loss before interest, tax, depreciation, and amortisation (EBITDA) improved by 13.1% to a loss of $0.88 million, reflecting operational efficiency gains. The company maintained a strong cash position of $30.5 million and access to $22.6 million in low-interest bank facilities, supporting working capital, product upgrades, and the new manufacturing facility in Nanjing, expected to complete in Q4 2026.

Vmoto’s financials also reveal a 5.8% decline in cash since December 2025, primarily due to investments in manufacturing capacity and international expansion. Inventory levels decreased by 11.8%, while trade receivables rose, reflecting growing sales and extended payment terms supported by government-backed trade insurance.

Board Changes and Share-Based Incentives

The company refreshed its board during the half, appointing Kieran Pryke and Maureen Baker as non-executive directors, while Blair Sergeant retired and Aaron Kidd resigned. Executive Ivan Teo’s role expanded from Finance Director to Executive Director, signalling a broader strategic remit. Share-based payments worth $873,275 were recognised, with shares and performance rights issued to directors and employees, aligning incentives with long-term growth.

Outlook and Growth Priorities

Vmoto reaffirmed its FY26 revenue guidance of $73.5 million to $85 million, confident in continued sales momentum driven by expanding product lines, especially durable, lower-cost models, and growth in Energy-as-a-Service offerings like battery swapping and fast charging stations. The company is actively pursuing new distributor and B2B partnerships across South America, Southeast Asia, the Middle East, and North America.

Fuel price volatility and geopolitical tensions have accelerated electric vehicle adoption globally, with Vmoto well positioned to capitalise on this trend. The company’s strategy to build a full-stack e-mobility ecosystem encompassing vehicle sales, energy solutions, and data services aims to differentiate it in a competitive market.