Q1 2025 GreenPower Motor Company Inc Earnings Call Transcript
Key Points
- GreenPower Motor Company Inc (GP) has seen a significant uptick in its sales pipeline for all-electric commercial vehicles and school buses.
- The company has the inventory and production capacity to meet increased demand, which is expected to boost revenue in the coming quarters.
- GreenPower's East-West manufacturing strategy is coming to fruition, enhancing its ability to deliver products nationwide.
- The company has received substantial state support in West Virginia, including subsidies and training programs for employees.
- GreenPower has a diverse product lineup, including the newly introduced EV Star ReeferX, which caters to the mid to last mile refrigerated delivery market.
- The company's gross profit margin was lower than anticipated due to overhead costs and lower realized margins on prior model year inventory.
- GreenPower's business remains lumpy, with deliveries difficult to predict on a quarter-to-quarter basis.
- The company is still reliant on external funding, having raised $2.3 million in gross proceeds during the quarter.
- GreenPower has a significant amount of inventory, with $33.7 million in inventory, including $13.4 million in finished goods, which could pose a risk if demand fluctuates.
- The competitive landscape is challenging, with fewer EV OEMs offering medium-duty class four all-electric vehicles, which could impact market dynamics.
Good day and welcome to the GreenPower Motor Company first quarter earnings, an update on green power sales pipeline conference call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Michael Sieffert, Chief Financial Officer. Please go ahead.
Thank you. This is Michael Sieffert, the Chief Financial Officer of GreenPower Motor Company. I would like to welcome everyone to our call to discuss GreenPower's financial results for the period ended June 30, 2024, and provide an update on GreenPower sales pipeline. I'm here today with our Chief Executive Officer, Fraser Atkinson; and our President, Brendan Riley.
During today's call, we may make comments or statements about our future expectations, plans and prospects, which may constitute forward-looking statements for the purposes of the Safe Harbor provision under the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities law.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
