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Perth-based electric vehicle manufacturer Vmoto Limited (ASX: VMT) has reported a 127 per cent jump in quarterly unit sales, shifting 6,693 electric two-wheelers in the three months to 31 March 2026 as demand from last-mile delivery operators accelerates across Europe.
The result, which also marked a 46 per cent increase on the prior quarter, generated positive operational cash flow and left Vmoto with a firm order book of 7,133 units at period end.
The strong quarter comes on the heels of full-year sales revenue guidance issued by Vmoto on 9 April, with the company forecasting FY26 revenue of between $73.5 million and $85 million - a 57 per cent to 82 per cent increase on FY25 revenue of $46.8 million.
That prior-year result was itself down 18 per cent year-on-year, with Vmoto posting a net loss of $9.9 million for FY25.
When issuing the company's full-year revenue guidance earlier this month, Vmoto managing director Charles Chen said he remained confident in the increasing opportunities for the company in last-mile delivery markets in particular.
Chen pointed to the company's partnership with Uber as a key growth driver.
Under the deal, announced in June 2025, Vmoto is working with the ride-hailing giant to electrify 100,000 motorbike couriers across seven European markets by 2030.
Vmoto designs and manufactures electric scooters and motorcycles targeting commercial fleet operators, delivery platforms and urban commuters.
The company operates manufacturing facilities offhsore, largely in China, and sells into more than 60 countries, with Europe its largest market by revenue.
The global electric two-wheeler market is projected to grow from US$5.31 billion ($8.2 billion) in 2026 to US$10.29 billion ($15.9 billion) by 2035, representing a compound annual growth rate of 7.6 per cent, according to a Markets and Markets report that lists Vmoto among key industry players.
Vmoto sees a more favourable funding environment in Europe and South America, especially for EV businesses.
It is also counting on recent fuel price surges and oil supply concerns to accelerate the adoption of EVs and the use of EVs as a hedge against fuel price volatility and shortages.
"These support the company's expectations of further improvement in sales over the coming quarters with 1Q26 sales units already increased significantly and the company has received significant interest in its products and solutions," says Vmoto in today's update.
"The company continues to receive good sales orders in 1Q26 from customers especially in the B2B sector, which shows the increased confidence in the recovery of the economy, transition into electric mobility and also further validates and recognises Vmoto's electric delivery products as one of the most resilient electric delivery mopeds in the market."
Outside of Europe, the company says it is engaging with a number of distributors and organisations in Asia, Middle East and South America focused on transitioning their existing fleet to EVs.
"As such, we remain confident that these discussions are likely to result in further improvement in sales in the B2B sector," says Vmoto.
"Vmoto's Thailand assembly facilities are also now fully installed and operational, and the company expects further orders to be received and delivery of orders to be fulfilled in the next and coming quarters."
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