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LMPAUTOMOTIVE H OLDIN G Source : LMP Automotive Holdings , Inc. November 15 , 2021 16:07 ET LMP Automotive Holdings , Inc. Announces Third Quarter 2021 Financial Results Third Quarter 2021 Highlights All financial comparisons stated below are compared to the third quarter of 2020 , unless otherwise noted . • Revenue increased $ 128.0M to $ 141.4M • Overall Gross Profit increased by $ 26.7M to $ 27.6M • Gross Profit Margin increased by 12.9 % to 19.5 % • Adjusted Net Income¹ was $ 8.6M or $ 0.85 per share • Adjusted EBITDA¹ increased by $ 12.1M to $ 11.9M or $ 1.18 per share • Adjusted Shareholder Equity 1 increased by $ 19.3M to $ 50.9M FORT LAUDERDALE , Fla . , Nov. 15 , 2021 ( GLOBE NEWSWIRE ) -- LMP Automotive Holdings , Inc. ( NASDAQ : LMPX ) ( " LMP " or the " Company " ) , an e - commerce and facilities - based automotive retailer in the United States , today reported its third quarter 2021 financial results . Management will hold a conference call at 4:30 p.m . ET today to review and discuss the Company's business and results . Sam Tawfik , the Company's Chairman and Chief Executive Officer commented , " During the quarter , consumer demand continued to outpace supply , driven by the ongoing manufacturing supply chain disruptions , historical consumer purchase deferrals and the increased consumer desire for personal transportation . New vehicle inventory remains at historically low levels and predicted to remain the same into the near future . New vehicle sales are constrained by reduced production volume and low inventory levels . We expect this pent- up demand to continue to support sales for the foreseeable future . " Tawfik concluded , " LMP has signed and announced acquisition agreements which are subject to customary terms and conditions , including manufacturer approval , and are expected to close in the coming months . These acquisitions will strategically add density in key geographic markets and increase our regional footprint . " 1 EBITDA , Adjusted EBITDA , Adjusted Net Income , and Adjusted Shareholder Equity are non - GAAP financial measures which are reconciled to the most directly comparable measures calculated in accordance with GAAP under the caption " Non - GAAP Financial Measures . " Third Quarter 2021 Financial Discussion Revenue increased by $ 128.0 million to $ 141.4 million ; EBITDA increased to $ 8.4 million from a loss of $ 0.35 million ; Adjusted Net Income per share was $ 0.85 ; Adjusted EBITDA increased to $ 11.9 million , from a loss of $ 0.24 million ; Adjusted EBITDA per share was $ 1.18 ; Net income for the quarter ( excluding noncontrolling interests ) was $ 4,769,270 from a net loss of $ 752,087 , an improvement of $ 5,521,357 and ; Net income per share increased to $ 0.42 , or an improvement of $ 0.50 as compared to a net loss of $ 0.08 per share .