Thanks for writing this up. This is interesting.From Stark on LinkedIn: "Stark Future SL Achieves the First Month of EBITDA Profitability and Records All-Time High Revenue"
I work in venture capital. I can say with experience that most start-ups fail. Most electric vehicle companies fail. Alta burned through US$44 million without making a profit. Cake raised at least $75m and went bankrupt. So it's pretty damn awesome that Stark are looking very strong.
Obviously, there's a heap of caveats here. EBITDA profit isn't net profit. EBITDA is "Earnings before interest, taxes, depreciation and amortization". That means some important costs are not included:
- Interest will be the big one. Stark will be in debt - they had to pay up-front to build the factory. How much debt and how much interest cost? Don't know. Some of that cost will be covered by the €50m equity investment from Eicher (Royal Enfield) so no interest but some is debt and that means interest, even if it is at reasonable rates (that's the €20m working capital facility from Banco Santander and the €25m credit from Big Bets).
- Taxes should be zero as they're yet to make an actual profit.
- Depreciation will also be a cost coz factories don't last forever.
- Amortization (like depreciation but for intangibles like the value of Stark's technology & design) - I don't know how Stark are accounting for this, might be zero.
And some of the sales will be the pent-up demand as buyers have had to wait for two years, so they have three years of orders squeezed into one year of deliveries.
But postive EBITDA means Stark are fundamentally strong - they're selling bikes for more than it costs to build them. Build costs will only go down as volumes go up, so profits should be up and be there to pay off the factory and the funds already spent to get the company to where it is right now.
Lower your HP setting, and roll the throttle on a bit slower. I run a higher hp setting than a lot of people (52), but I only crack the throttle very slightly most of the time.I hope their IPO to goes well. Stark Future surely does put a lot of effort into external marketing to new customers in order to keep up the sales and sustain growth. Not so much marketing to the existing customers though. I hope this changes and they finally start sending meaningful software updates and new features and start delighting their existing customers more like Tesla does and less like Fisker/Faraday did.
I am still waiting for the promised tunable traction control, tunable virtual flywheel, and tunable throttle features. My Stark is almost two years old, almost out of warranty, but it hasn't had any new features since I bought it other than the walking mode that I only use when pressure washing it. I am fighting local dusty hardpack tracks here, spinning the wheels with no grip, and the only tools that have to change that are the suspension clickers. And the bike just spins the rear wheel like a crazy leaned-out two-stroke that is about to throw a piston. Where are the jets on that Stark carburetor?
What are you using for tires? That would be where I would start. And if you plan on keeping your bike perhaps going to a suspension tuner(if you haven't already) and modifying it. Clickers are usually not enough to solve real problems with issues like traction. And like @AL_V says some technique changes might help too. I really like the walk and reverse --loading and storing my bike have been greatly enhanced and many difficult HE situations are been solved without a bike drop, a sore back, or worse (say you miss a single track mud line and end up entangled in a massive barb wire like brier patch on a 90 degree 90% humidity day in full gearI hope their IPO to goes well. Stark Future surely does put a lot of effort into external marketing to new customers in order to keep up the sales and sustain growth. Not so much marketing to the existing customers though. I hope this changes and they finally start sending meaningful software updates and new features and start delighting their existing customers more like Tesla does and less like Fisker/Faraday did.
I am still waiting for the promised tunable traction control, tunable virtual flywheel, and tunable throttle features. My Stark is almost two years old, almost out of warranty, but it hasn't had any new features since I bought it other than the walking mode that I only use when pressure washing it. I am fighting local dusty hardpack tracks here, spinning the wheels with no grip, and the only tools that have to change that are the suspension clickers. And the bike just spins the rear wheel like a crazy leaned-out two-stroke that is about to throw a piston. Where are the jets on that Stark carburetor?