AYRO, Inc. (AYRO) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 15, 2026

Risk Assessment Details

Potential Dilution: 497.95% of current shares
Recent Dilution: 399.64% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
4.9M
Potential Supply
24M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

AYRO currently has 4.86M outstanding shares. with significant dilution risk as 24.2M authorized shares could dilute existing holders by 497.9%. The company has significantly diluted shareholders by 399.64% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 15, 2026

10-Q filing | 4.9M shares outstanding

4.9M 24M
Mar 30, 2026

10-K filing | 1.5M shares outstanding

1.5M 24M
Jan 09, 2026

S-3/A filing: StableX Technologies, Inc. is offering up to $100,000,000 of common stock, preferred stock, debt securities, warrants and/or subscription rights in one or more offerings and in any combination.

1.5M 24M
Dec 19, 2025

S-3/A filing: This S-3/A filing from StableX Technologies, Inc. relates to the resale of up to 16,403,512 shares of common stock by selling stockholders, issuable upon conversion of Series I convertible preferred stock and exercise of certain warrants.

1.5M 24M
Nov 14, 2025

10-Q filing | 1.5M shares outstanding

1.5M 24M
Oct 10, 2025

S-3/A filing: This prospectus relates to the resale by the selling stockholders named in this prospectus from time to time of up to an aggregate of 16,403,512 shares of our common stock, par value $0.0001 per share.

680K 24M
Sep 08, 2025

S-3 filing: This prospectus relates to the resale by the selling stockholders of up to an aggregate of 126,208 shares of common stock issuable upon conversion of Series I convertible preferred stock and exercise of certain warrants.

680K 7.9M
Aug 14, 2025

10-Q filing | 0.7M shares outstanding

680K 7.8M
Aug 12, 2025

8-K filing: AYRO, Inc. filed a Certificate of Amendment to its Series H-7 Certificate of Designations, modifying terms including the maturity date, payment dates, and the definition of 'Excluded Securities'. Also, the company filed the Certificate of Designations of Series I Preferred Stock creating the Series I Preferred Stock

540K 7.8M
Aug 05, 2025

8-K filing: AYRO, Inc. entered into a Securities Purchase Agreement to sell Series I Convertible Preferred Stock and warrants to accredited investors in a private placement expected to close on August 7, 2025, with gross proceeds of $7,000,000 to be used for general corporate purposes. ($7.0M proceeds)

540K 7.8M
Jun 25, 2025
Stock Split

8-K filing: Stock split 1-for-16 | Outstanding: 8,691,466 → 543,216

540K 7.8M
Jun 10, 2025

S-3 filing: The filing is an S-3 registration statement for the potential offering of common stock, preferred stock, debt securities, warrants, and subscription rights, or units comprised of combinations thereof, up to an aggregate amount of $100,000,000.

8.7M 120M
May 14, 2025

10-Q filing | 8.5M shares outstanding

8.5M 120M
Mar 31, 2025

10-K filing | 8.5M shares outstanding

8.5M 120M
Nov 14, 2024

10-Q filing | 6.9M shares outstanding

6.9M 120M
Oct 29, 2024

8-K filing: AYRO, Inc. repurchased 418,478 shares of its common stock from a beneficial owner for an aggregate cash purchase price of US$376,630.20, which equals US$0.90 per share. ($0.38M proceeds)

6.9M 120M
Aug 15, 2024

10-Q filing | 6.9M shares outstanding

6.9M 120M
May 15, 2024

10-Q filing | 4.9M shares outstanding

4.9M 120M
Apr 01, 2024

10-K filing | 4.8M shares outstanding

4.8M 120M
Nov 30, 2023

S-3/A filing: This prospectus relates to the resale by the selling stockholders named in this prospectus from time to time of up to an aggregate of 105,122,820 shares of our common stock, par value $0.0001 per share

4.7M 120M
Nov 20, 2023

10-Q filing | 4.7M shares outstanding

4.7M 120M
Sep 27, 2023

S-3/A filing: This S-3/A filing relates to the resale of up to 105,122,820 shares of common stock issuable upon conversion of preferred stock and exercise of warrants, with the selling stockholders receiving all proceeds.

37M 120M
Sep 08, 2023

S-3 filing: This prospectus relates to the resale by the selling stockholders named in this prospectus from time to time of up to an aggregate of 7,508,773 shares of our common stock, par value $0.0001 per share, issuable upon the conversion of shares of our newly designated Series H-7 convertible preferred stock and shares of our Common Stock issuable upon exercise of certain warrants.

37M 27M
Aug 14, 2023

10-Q filing | 37.5M shares outstanding

37M 19M
May 09, 2023

10-Q filing | 37.5M shares outstanding

38M 19M
Mar 23, 2023

10-K filing | 37.4M shares outstanding

37M 19M
Nov 03, 2022

10-Q filing | 37.0M shares outstanding

37M 19M
Aug 11, 2022

10-Q filing | 37.0M shares outstanding

37M 19M
May 02, 2022

10-Q filing | 36.9M shares outstanding

37M 19M
Mar 23, 2022

10-K filing | 36.9M shares outstanding

37M 19M
Nov 15, 2021

10-Q filing | 36.9M shares outstanding

37M 19M
Aug 16, 2021

10-Q filing | 36.4M shares outstanding

36M 19M
May 13, 2021

10-Q filing | 27.1M shares outstanding

27M 19M
Mar 31, 2021

10-K filing | 27.1M shares outstanding

27M 19M
Feb 16, 2021

8-K filing: AYRO, Inc. entered into a Securities Purchase Agreement to issue and sell 4,400,001 shares of common stock at $9.50 per share in a registered direct offering, for gross proceeds of approximately $41.8 million. ($41.8M proceeds)

24M 19M
Jan 26, 2021

8-K filing: AYRO, Inc. entered into a Securities Purchase Agreement to issue and sell 3,333,334 shares of common stock at $6.00 per share in a registered direct offering, for gross proceeds of approximately $20 million, and will issue unregistered warrants to purchase up to 3,333,334 shares of Common Stock in a concurrent private placement. ($20.0M proceeds)

24M 19M
Nov 27, 2020

S-3 filing: The filing is for a mixed shelf offering of common stock and preferred stock with a total aggregate amount of $100,000,000, and also registering the offering of shares of common stock by selling stockholders.

24M 19M
Nov 23, 2020

8-K filing: AYRO, Inc. entered into a Securities Purchase Agreement to issue and sell 1,650,164 shares of common stock at $6.06 per share in a registered direct offering, for gross proceeds of approximately $10 million, and also agreed to issue unregistered warrants to purchase shares of common stock in a concurrent private placement. ($10.0M proceeds)

24M 17M
Nov 06, 2020

10-Q filing | 24.3M shares outstanding

24M 17M
Oct 16, 2020

8-K filing: AYRO, Inc. entered into an addendum to a Securities Purchase Agreement, extending the deadline for purchasers to exercise their right to purchase additional shares of common stock by one year, to October 19, 2021. ($9.25M proceeds)

24M 17M
Sep 02, 2020

S-3 filing: This is an S-3 filing for the registration of shares of common stock and shares of common stock underlying warrants.

24M 17M
Aug 14, 2020

10-Q filing | 24.3M shares outstanding

24M 9.6M
Aug 12, 2020

S-3/A filing: This is an S-3/A filing to register additional securities.

6.3M 9.6M
Aug 03, 2020

S-3 filing: This is an S-3 filing for a shelf offering of up to 878,680 shares of common stock by selling stockholders, including shares that may be issued upon exercise of warrants.

6.3M 9.6M
Jul 23, 2020

8-K filing: AYRO, Inc. completed a registered direct offering of 1,850,000 shares of common stock at $5.00 per share, resulting in gross proceeds of approximately $9.25 million. ($9.25M proceeds)

6.3M 8.7M
Jul 08, 2020

8-K filing: AYRO, Inc. sold 3,157,895 shares of common stock at $4.75 per share in a registered direct offering for gross proceeds of $15 million and issued warrants to purchase 71,770 shares at $5.225 per share and 147,368 shares at $5.4625 per share to financial advisors, while also amending its bylaws to reduce the notice period for special board meetings and allow for flexible meeting notifications. ($15.0M proceeds)

6.3M 8.7M
Jun 19, 2020

8-K filing: AYRO, Inc. entered into a Securities Purchase Agreement to sell 2,200,000 shares of common stock at $2.50 per share in a registered direct offering, with gross proceeds of approximately $5.5 million. ($5.5M proceeds)

6.3M 8.7M
May 29, 2020

8-K filing: This 8-K filing discusses unregistered sales of equity securities, including the conversion of bridge loans and Series H-4 preferred stock into common stock, the issuance of warrants, and amendments to the company's charter in connection with a merger and reverse stock split and stock dividend. ($4.01M proceeds)

6.3M 8.7M
May 15, 2020

8-K filing: DropCar issued 1,250,000 shares of common stock upon the exercise of warrants, which changed the Exchange Ratio for the merger with AYRO from 1.0844 to 1.2211 shares of DropCar Common Stock, resulting in an intended issuance of 47,421,021 shares instead of 42,112,223 shares at the closing of the Merger.

6.3M 8.7M
May 14, 2020

10-Q filing | 6.3M shares outstanding

6.3M 8.7M
Mar 30, 2020

10-K filing | 1.6M shares outstanding

1.6M 8.7M
Feb 24, 2020

8-K filing: AYRO agreed to issue warrants to purchase 500,000 shares of DropCar's common stock for $10,000 contingent upon the closing of the Merger. ($0.01M proceeds)

N/A 8.7M
Feb 07, 2020

S-3 filing: This prospectus relates to the resale of up to an aggregate of 8,680,526 shares of our common stock issuable upon the conversion of certain preferred stock and the exercise of outstanding warrants.

N/A 8.7M
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