Zapp Electric Vehicles Group (ZAPP) H1 2025 earnings summary

Executive summary

• Appointed David McIntyre as new CEO, replacing founder and several executives after terminations for cause.

• Strategic focus shifts to aligning execution with market opportunities and accelerating product delivery.

Financial highlights

• IFRS net loss of $4.3 million for six months ended March 31, 2025, down from $5.0 million year-over-year.

• Operating loss reduced to $2.7 million from $3.1 million year-over-year, mainly due to lower professional and marketing expenses.

• Cash and cash equivalents at March 31, 2025 were $1.1 million, down from $1.6 million at September 30, 2024.

• Net cash used in operating activities was $2.7 million for the period, with $2.4 million raised from financing activities.

• Shareholders' deficit stood at $22.5 million as of March 31, 2025.

Outlook and guidance

• Revised business outlook to be provided after rebuilding supply chain outside Thailand.

• Plans to begin UK assembly and register inventory for sale on a single-vehicle basis.