Navit announced Q1 financial results on May 16, 2022

Navit announced Q1 financial results on May 16, 2022

On May 16, 2022, Navitasdisclosed Q1 quarterly financial results, Q1 achieved revenue of 674,000 US dollars, equivalent to 45 million yuan, a year-on-year growth of 102.88%; Net profit was 0.798 billion US dollars, discounted 537 million yuan, turning a loss into a profit. In terms of R&D investment, Navitas invested $13 million (RMB 90 million) in Q1 2022.