Announcement • Nov 06
GreenPower Announces Voluntary Delisting from the TSXV GreenPower Motor Company Inc. ("GreenPower" or the "Company") announced its decision to voluntarily delist its common shares from the TSX Venture Exchange (the "Exchange"), effective the close of business on November 14, 2025. This decision has been made following a thorough review of the Company's strategic priorities and operational efficiencies.
Reasons for DelistingThe voluntary delisting is driven by the following considerations: Low Trading Volumes: The Company has observed consistently low trading volumes on the Exchange. For the nine months ended September 30, 2025, the trading of the Company's shares on the Exchange was less than 2% of the trading volumes on NASDAQ, which does not justify the costs and administrative requirements associated with a continued listing on the Exchange. Cost Efficiency: Delisting will allow the Company to reduce regulatory and compliance costs, enabling it to allocate resources more effectively toward growth initiatives. Streamlined Operations: This move aligns with the Company's broader strategy to simplify its operations and focus on markets that provide greater shareholder value. Impact on Shareholders: The Company assures shareholders that this decision will not affect their share ownership. The Company intends to maintain its NASDAQ exchange listing, offering shareholder's the ability to trade GreenPower shares. The Company will remain a reporting issuer under Canadian securities laws, ensuring continued transparency and compliance with regulatory requirements. Announcement • Aug 30
GreenPower Announces Receipt of Determination Letter from Nasdaq GreenPower Motor Company Inc. announced that on August 27, 2025, the Company received a determination letter (the "Letter") from the staff of Nasdaq Listing Qualifications (the "Staff") stating that the Company has not regained compliance with Nasdaq Listing Rules 5550(a)(2) (the "Rule"). The Letter stated that, unless the Company requests an appeal of this determination no later than 4:00 p.m. (Eastern time) on September 3, 2025, the Staff has determined that the Company's common shares will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of business on September 5, 2025, and a Form 25-NSE will be filed with the Securities and Exchange Commission which will remove the Company's common shares from listing and registration on The Nasdaq Stock Market. The Company is requesting a hearing to appeal this determination. The Letter also noted that on February 27, 2025, the Staff notified the Company that, for the previous 30 consecutive business days, the bid price of the Company's common shares had closed at less than USD 1 per share and, as a result, did not comply with the Rule and in accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was given 180 calendar days, or until August 26, 2025, to regain compliance with the Rule. The Letter stated that the Company is not eligible for a second 180 day period to comply with the Rule because the Company does not comply with the USD 5,000,000 minimum stockholders' equity initial listing requirements for The Nasdaq Capital Market. In addition, the Letter noted that, on August 15, 2025, Staff notified the Company that it did not comply with Nasdaq Listing Rule 5550(b) (the "Equity Rule"), and requested the Company submit a plan to regain compliance with the Equity Rule no later than September 29, 2025. The Letter further noted that pursuant to Nasdaq Listing Rule 5810(d)(2), this deficiency serves as a separate and additional criteria for delisting, and as such, the Staff will not entertain a plan of compliance and the Company should also address this concern before a Hearings Panel (the "Panel") if it appeals the Staff's determination. The Company intends to request a hearing before the Panel to appeal the Letter. A hearing request will stay the suspension of the Company's common shares and the filing of the Form 25-NSE pending the Panel's decision. The Company is diligently working to satisfy Nasdaq's requirements in a timely manner. If the Company's common shares cease to be listed for trading on The Nasdaq Capital Market, the Company would expect that its common shares would be traded in the United States on one of the three tiered marketplaces of the OTC Markets Group in addition to the TSX Venture Exchange in Canada. Announcement • Apr 07
GreenPower Motor Company Inc., Annual General Meeting, May 23, 2025 GreenPower Motor Company Inc., Annual General Meeting, May 23, 2025. Announcement • Mar 08
GreenPower Motor Company Inc. has filed a Follow-on Equity Offering in the amount of $0.85 million. GreenPower Motor Company Inc. has filed a Follow-on Equity Offering in the amount of $0.85 million.
Security Name: Common Shares
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Feb 16
Third quarter 2025 earnings released: US$0.17 loss per share (vs US$0.19 loss in 3Q 2024) Third quarter 2025 results: US$0.17 loss per share. Revenue: US$7.22m (down 12% from 3Q 2024). Net loss: US$4.74m (loss widened 2.1% from 3Q 2024). Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Machinery industry in Canada. Announcement • Dec 19
Greenpower Motor Company Inc. Announces Board Changes GreenPower Motor Company Inc. announced the appointment of Mr. Sebastian Giordano ("Mr. Giordano") to GreenPower's Board of Directors (the "Board"). Mr. Giordano brings significant experience as an operator and corporate director, including at companies in the transportation and electric vehicle sectors. He presently or has served on the Boards of Directors of AYRO Inc., a NASDAQ listed low-speed electric vehicle manufacturer; DropCar Inc., a NASDAQ-listed micro-logistics technology, mobility services and cloud-based SaaS software provider to the automotive industry; and Transportation and Logistics Systems Inc., as its Chairman and Chief Executive Officer. From 2013 to 2018, he also served as a Board Member and Chief Executive Officer of WPCS International Incorporated, a NASDAQ-listed low-voltage contracting company. For the past 22 years, Mr. Giordano has provided C-Level consulting services to a diverse roster of private and public companies across a broad spectrum of industries, including start-ups, turnarounds, and established businesses. Concurrent with this appointment, Cathy McLay has resigned from the Board. Reported Earnings • Nov 17
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: US$0.18 loss per share (further deteriorated from US$0.17 loss in 2Q 2024). Revenue: US$5.35m (down 37% from 2Q 2024). Net loss: US$4.70m (loss widened 10% from 2Q 2024). Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%. Revenue is forecast to grow 47% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Machinery industry in Canada. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 60% per year, which means it is performing significantly worse than earnings. Announcement • Oct 29
GreenPower Motor Company Inc. has filed a Follow-on Equity Offering. GreenPower Motor Company Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Security Name: Pre-funded Warrants
Security Type: Equity Warrant New Risk • Sep 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$12m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$17m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Market cap is less than US$100m (CA$42.7m market cap, or US$31.4m). New Risk • Aug 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$12m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$12m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$17m net loss next year). Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Market cap is less than US$100m (CA$31.8m market cap, or US$23.2m). New Risk • Jul 02
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$18m Forecast net loss in 2 years: US$4.9m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$4.9m net loss in 2 years). Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Market cap is less than US$100m (CA$38.4m market cap, or US$28.1m). Breakeven Date Change • Jul 02
No longer forecast to breakeven The 3 analysts covering GreenPower Motor no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$9.15m in 2026. New consensus forecast suggests the company will make a loss of US$4.90m in 2026. Reported Earnings • Jun 30
Full year 2024 earnings released Full year 2024 results: Net income: (up US$15.0m from FY 2023). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 60% per year, which means it is performing significantly worse than earnings. Announcement • Jun 06
GreenPower Motor Company Inc. Unveils the EV Star REEFERX GreenPower Motor Company Inc. unveiled the EV Star REEFERX, a new all-electric refrigerated medium-duty delivery truck. The modern offering is available for orders starting June 5, 2024. Built on GreenPower's EV Star Cab & Chassis platform, the EV Star REEFER X is purpose-built and fully customizable with a lighter body to allow for increased payload. Designed to serve mid to last-mile refrigerated delivery and catering applications, the EV Star REEferX moves goods that need to be temperature controlled, such as fresh and frozen foods, flowers and pharmaceuticals, among other applications. The vehicle body features a one interior wall structure to allow for seamless sanitation, consistent insulation throughout and a longer life. GreenPower's EV Star REEFERX combines a modern look with The X Factor advantage: One-Piece box Design provides multiple benefits including a modern look that's easy to repair, a design that allows for quick assembly and flat-packed for dealers and a one-piece wall structure that provides consistent insulation and a longer life. Multi-temperature zones to accommodate moving a variety of items requiring different storage temperatures. Reduced day-to-day vehicle upkeep through sanitation downtime - with one interior wall unit, customers will save time as minimal seams on the vehicle reduces the time it takes for day-to-day upkeep including seamless sanitation. Built for around the clock delivery capabilities through a range of up to 150 miles and a payload capacity of up to 5,500 lbs. Optimal battery placement provides for a lower center of gravity resulting in maximum cargo capacity. Increased payload due to a lighter body allows for increased payload capacity saving customers both time and money, along with eTRU being powered by the high voltage battery. Mitigates temperature variation with three-inch thick PET (polyethylene terephthalate) foam, made from recyclable material with a closed cell foam composite that will not absorb water. Customizable options for low or high voltage refrigerator units, depending on specific use-cases. Various insulation thickness available to meet different applications and environments. Multiple-door options. with rear door standard and a rear roll up door optional as well as optional side door and other locations. Improves total cost of ownership (TCO) for fleet owners through ease of maintenance, significantly reducing vehicle downtime. Announcement • May 16
GreenPower Motor Company Inc. to Showcase Its Safe, Sensible and Sustainable Expanding Transportation Solutions At Act Expo 2024 GreenPower Motor Company Inc. announced its participation in the upcoming Advanced Clean Transportation (ACT) Expo on May 20 to 23 in booth #1230 at the Las Vegas Convention Center. At ACT Expo, GreenPower will showcase its all-electric Type D BEAST school bus, EV Star Cab & Chassis and EV Star Cargo Plus. The EV Star Cab & Chassis display will provide an opportunity for customers to see the inter-workings of GreenPower's platform vehicle, giving visibility to the heart of GreenPower's commercial products. The EV Star Cab & Chassis is a blank canvas which can be upfitted to address diverse needs of customers by providing customization through GP Truck Body. Located in booth #1230 at the Las Vegas Convention Center, GreenPower, will showcase its all-electric, purpose-built, zero-emission vehicles. GreenPower experts will be onsite to discuss stateand federal incentives programs and ways GreenPower can provide its safe, sensible and sustainable solutions to customers looking to deploy electric vehicles from one vehicle to theirentire fleet. BEAST: A unified structure that features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium on a high strength steel buschassis. The BEAST's complete flat floor design allows for tracking with no obstacles, and the high floors keep students out of the crash zone. EV Star Cab & Chassis: The proprietary EV Star Cab & Chassis was designed to take on any mid and last-mile delivery while maintaining the benefits of being a zero-emission vehicle. It is purpose-built to be an electric vehicle and is designed to accommodate a multitude of upfits or bodies for different use cases. The vehicle has a carrying capacity of 7,000 pounds and a range of up to 150 miles. EV Star Cargo Plus: With a standard 836 cubic feet of cargo capacity, the purpose-built GreenPower EV Star Cargo Plus exceeds delivery needs with improved payload to rangeratios. The box truck has an optimal battery placement which provides for a lower center of gravity resulting in maximum cargo capacity of up to 5,000 pounds and a range of upto 150 miles. Announcement • May 14
Greenpower to Showcase All-Electric School Bus and Commercial Vehicles At Nyc Fleet Show GreenPower Motor Company Inc. will participate in the NYC Fleet Show (Equipment and Vehicle Show) put on by the NYC Department of Citywide Administrative Services on May 16 at the Unisphere at Flushing Meadows Corona Park in Queens, New York. GreenPower will showcase a sampling of its all-electric, purpose-built commercial vehicles and school buses including the EV Star Utility Truck, the EV Star Passenger Van and the Nano BEAST Access all-electric school bus. GreenPower's purpose-built vehicles provide a cleaner and safer transportation option to businesses and school districts looking to deploy all-electric commercial vehicles including trucks, cargo vans and school buses. GreenPower's innovative technologies can help fleets drive down operating costs, minimize maintenance costs while delivering outstanding reliability and efficiency and address climate change. The EV Star Cargo Plus, EV Star Cargo, and EV Star Cab & Chassis, are eligible for the New York Truck Voucher Incentive Program (NYTVIP) which provides voucher funding for New York-operated fleets that scrap an old diesel vehicle (engine model year 1992 – 2009) and replace it with an all-electric vehicle. GreenPower's school buses are a safe and reliable option to meet New York's mandate to zero-emission electric school buses (or ESB) fleet by 2035. The Environmental Bond Act provides both public school districts and contracted fleet operators more than $500 million in funding toward school bus electrification. Additionally, the New York School Bus Incentive Program (NYSBIP) offers to cover 60% of the incremental cost of GreenPower'sType D BEAST, Type A Nano BEAST and Nano BEAST Access. New Risk • May 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$1.3m net loss in 2 years). Shareholders have been diluted in the past year (7.4% increase in shares outstanding). Market cap is less than US$100m (CA$48.2m market cap, or US$35.2m). Announcement • May 07
GreenPower Motor Company Inc. has filed a Follow-on Equity Offering. GreenPower Motor Company Inc. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Security Name: Warrants
Security Type: Equity Warrant New Risk • Apr 01
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$16m Forecast net loss in 2 years: US$1.7m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$1.7m net loss in 2 years). Market cap is less than US$100m (CA$67.5m market cap, or US$49.7m). Reported Earnings • Feb 14
Third quarter 2024 earnings released: US$0.19 loss per share (vs US$0.14 loss in 3Q 2023) Third quarter 2024 results: US$0.19 loss per share (further deteriorated from US$0.14 loss in 3Q 2023). Revenue: US$8.16m (down 36% from 3Q 2023). Net loss: US$4.64m (loss widened 38% from 3Q 2023). Revenue is forecast to grow 59% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Machinery industry in Canada. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 55% per year, which means it is performing significantly worse than earnings. Announcement • Feb 06
GreenPower Motor Company Inc., Annual General Meeting, Mar 27, 2024 GreenPower Motor Company Inc., Annual General Meeting, Mar 27, 2024. Recent Insider Transactions Derivative • Jan 12
Independent Director exercised options to buy CA$55k worth of stock. On the 10th of January, Malcolm Clay exercised options to buy 14k shares at a strike price of around CA$3.50, costing a total of CA$50k. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. Since March 2023, Malcolm's direct individual holding has increased from 599.84k shares to 604.13k. Company insiders have collectively bought CA$22k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Dec 14
Greenpower Motor Company Inc. Announces Production of Its First All-Electric School Buses At West Virginia Manufacturing Facility South Charleston, West Virginia GreenPower Motor Company Inc. announced that the company has completed manufacturing of its first four all-electric, purpose-built school buses at its West Virginia facility. The Type A Nano BEAST school buses will roll out of the facility and be delivered to Cabell County, Clay County, Kanawha County and Monongalia County school districts in West Virginia this week. GreenPower took possession of the 80,000-square-foot facility in August of 2022 and since that time has prepared for the production of both the Type A Nano BEAST and the Type D BEAST all-electric, purpose- built school buses. The Nano BEAST has been in production since June and production of the BEAST will begin First Quarter of 2024. The Nano BEAST is a Type A all-electric, purpose-built, zero- emission school bus with seating for up to 24 students. The Nano BEAST Access option has seating for up to 18 ambulatory passengers and up to 3+ Q'STRAINT wheelchair securements, complemented with a BraunAbility rear curbside lift. Production process are in place at the facility to begin manufacturing of the BEAST, GreenPower's all-electric, purpose-built, zero-emission 40- foot Type D school bus that can seat up to 90 passengers. Featuring a modern monocoque design, the BEAST is the safest, most durable and reliable all-electric school bus available today. Its seamlessly integrated aluminum body and chassis design forms a composite structure which is the GreenPower Truss(T) factor. The newly announced Mega BEAST option with a 387 kWh battery and up to 300 miles of range will also be manufactured in West Virginia. Breakeven Date Change • Nov 16
No longer forecast to breakeven The 4 analysts covering GreenPower Motor no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$300.0k in 2025. New consensus forecast suggests the company will make a loss of US$3.10m in 2025. New Risk • Nov 16
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -US$3.4m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$3.4m). Currently unprofitable and not forecast to become profitable next year (US$8.4m net loss next year). Shareholders have been diluted in the past year (6.3% increase in shares outstanding). Market cap is less than US$100m (CA$103.8m market cap, or US$75.9m). Reported Earnings • Nov 16
Second quarter 2024 earnings released: US$0.17 loss per share (vs US$0.15 loss in 2Q 2023) Second quarter 2024 results: US$0.17 loss per share (further deteriorated from US$0.15 loss in 2Q 2023). Revenue: US$8.44m (up 9.2% from 2Q 2023). Net loss: US$4.26m (loss widened 24% from 2Q 2023). Revenue is forecast to grow 46% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Machinery industry in Canada. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings. Breakeven Date Change • Nov 07
Forecast to breakeven in 2025 The 4 analysts covering GreenPower Motor expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 45% to 2024. The company is expected to make a profit of US$300.0k in 2025. Average annual earnings growth of 108% is required to achieve expected profit on schedule. Announcement • Nov 01
GreenPower Motor Company Inc. Unveils the Mega Beast All-Electric Type D School Bus with the Longest Range and Biggest Battery Pack on the Market GreenPower Motor Company Inc. unveiled the Mega BEAST. This newest version of GreenPower's all-electric Type D school bus provides double the range with the same functionality as GreenPower's trusted and reliable BEAST all-electric school bus that is deployed in school bus fleets across the country. GreenPower's Mega BEAST is a 40-foot Type D all-electric, purpose-built, zero-emission school bus that delivers a class-leading range of up to 300 miles on a single charge via a 387 kWh battery pack. It provides for the longest range and has the biggest battery pack in the school bus market. The Mega BEAST can seat up to 90 passengers with standard features that include air ride suspension, ABS disk brakes and largest pass-through storage available. Featuring a modern monocoque chassis, the Mega BEAST is the safest, most durable and reliable all-electric school bus available today. Its seamlessly integrated aluminum body and chassis design forms a composite structure which is the GreenPower Truss(T) factor. Unveiled at the National Association of Pupil Transportation's (NAPT) Conference and Trade Show in Columbus, Ohio, the Mega BEAST is designed to provide the answer for longer range routes and other desired uses by a school district. The extended range created by the larger battery pack is an ideal solution for many rural school districts with longer routes, school districts with less chance for mid-day opportunity charging, school districts that face extreme weather conditions and schools that also use the all-electric bus for extra-curricular activities. Breakeven Date Change • Oct 24
Forecast to breakeven in 2025 The 4 analysts covering GreenPower Motor expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 47% to 2024. The company is expected to make a profit of US$1.28m in 2025. Average annual earnings growth of 111% is required to achieve expected profit on schedule. Announcement • Sep 27
GreenPower Motor Company Inc. Announces the Results from its Successful All-Electric School Bus Pilot Program Conducted in West Virginia GreenPower Motor Company Inc. announced the results from its successful all-electric school bus pilot program conducted in West Virginia that resulted in subsequent all-electric school bus orders. GreenPower shared its findings along with helpful data to improve future deployments at the Green Bus Summit held during STN EXPO in Reno, Nevada this summer. As a result of the successful pilot program and the performance of the GreenPower vehicles, schools in the Mountain State have placed orders to purchase GreenPower all-electric, purpose-built school buses to deploy in their fleets, and have also asked to receive GreenPower school buses purchased by the state. Several of the pilot program counties have applied for new funding through the EPA and other sources to purchase additional GreenPower school buses as well. Joining GreenPower in presenting the key findings of the pilot program were Delegate Christopher Toney, a school bus driver in Raleigh County (WV) who is also the Vice Chairman of the West Virginia House of Delegates Committee on Education; Dr. Tom Williams, Superintendent of the Kanawha County (WV) School District; and Dr. Barry Miller, a bus driver for the Calhoun County (WV) School District. The nine-month pilot program covered more than 32,000 miles in 18 counties representing one-third of the school districts in the state. More than 100 professional school bus drivers drove the GreenPower Type D BEAST and Type A Nano BEAST during the pilot and provided feedback and recommendations at the conclusion of each round. Each participating school district piloted either the Type D BEAST or the Type A Nano BEAST purpose-built, all-electric school bus for six weeks between September 2022 and May 2023, covering the entire school year, multiple seasons and some of the harshest weather and terrain the Mountain State has to offer. Key findings from the pilot project included: In ideal conditions, the range for the all-electric school buses was 1.4 to 1.5 miles per one percent charge, or 140 to 150 miles on a full charge. On one occasion, a BEAST achieved 1.67 miles per one percent charge, or 167 miles total range. Another high performance saw a BEAST go 147 total miles that include 9% inclines on mountainous roads on a 15- degree day while returning with 7% battery remaining. School districts participating in the pilot were able to demonstrate significant operational savings over a fleet of standard diesel-fueled buses. One participating district, Boone County, took into account the recorded difference in just fuel costs - $200 a month in electricity vs. $900 a month in diesel fuel - which would translate into fuel savings of $136,000 over 10 years. In reality and practice the total savings for an all-electric school bus is much greater when including all operational and maintenance cost savings. Aggressive usage of heat reduces the range. The data shows that aggressive use of heat on extremely cold mornings reduced the range in some cases by more than 30%. Conversely, air conditioning use did not show a material impact on range. Changes in elevation did not significantly affect the vehicle's range. While uphill driving will deplete the battery faster than flat terrain, downhill segments restore energy to the battery through regenerative braking so the two tend to average out. One county, Grant County, experienced a net zero energy use over a 17-mile stretch going up and down from Mt. Storm. Driver habits affect the range just like it does gas mileage in a personal car. All vehicles were charged with temporary Level 2 chargers provided by a number of vendors. While Level 2 charging proved to be largely adequate for this pilot, cold weather and other conditions suggested DC Fast Charging is necessary as a context-based option. Reporting software proved to be critical in instances where any charging interruptions took place overnight. The software provided notifications when power surges or other disruptions occurred, allowing them to be recycled in a timely manner so the problem would not be long term. New Risk • Sep 07
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$14m Forecast net loss in 1 year: US$5.5m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (20% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$5.5m net loss next year). Shareholders have been diluted in the past year (7.8% increase in shares outstanding). Market cap is less than US$100m (CA$122.0m market cap, or US$89.4m). Breakeven Date Change • Sep 07
No longer forecast to breakeven The 3 analysts covering GreenPower Motor no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$3.85m in 2025. New consensus forecast suggests the company will make a loss of US$316.7k in 2025. Reported Earnings • Aug 13
First quarter 2024 earnings released: US$0.11 loss per share (vs US$0.19 loss in 1Q 2023) First quarter 2024 results: US$0.11 loss per share (improved from US$0.19 loss in 1Q 2023). Revenue: US$17.6m (up 357% from 1Q 2023). Net loss: US$2.81m (loss narrowed 35% from 1Q 2023). Revenue is forecast to grow 46% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Machinery industry in Canada. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 19% per year. Announcement • Aug 10
GreenPower Motor Company Inc. Names Zach Walsh as Director of Eastern U.S. School Bus Sales GreenPower Motor Company Inc. announced it has named Zach Walsh as Director of Eastern U.S. School Bus Sales. A dedicated leader who started his career in the transportation industry in 2015 as a sales representative selling commercial and paratransit vehicles, Walsh has a deep focus and experience in sustainability, electric vehicles and EV charging as sales manager for a North American sales team and dealer network. He is a graduate of Georgia State University and resides in Atlanta, Georgia. In his role at GreenPower, Walsh will manage and train the direct sales staff and provide dealer support in the eastern part of the U.S. He will help develop product specifications and ensure full coverage of product and services up and down the east coast. Additionally, Zach will use his expertise in grant management and writing to help school districts and dealers obtain funding for the successful migration to all-electric, purpose-built school buses. New Risk • Jul 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (20% average weekly change). Minor Risk Shareholders have been diluted in the past year (7.8% increase in shares outstanding). Board Change • Jul 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Director Cathy McLay was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 15
Full year 2023 earnings released: US$0.64 loss per share (vs US$0.69 loss in FY 2022) Full year 2023 results: US$0.64 loss per share. Revenue: US$39.7m (up 130% from FY 2022). Net loss: US$15.0m (flat on FY 2022). Revenue is forecast to grow 47% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Machinery industry in Canada. Announcement • Jul 12
Greenpower Motor Company Inc. to Showcase Type D Beast and Type A Nano Beast GreenPower Motor Company Inc. announced its participation at the School Transportation News (STN) Expo Reno Conference and Trade Show on July 14 to 19 in Reno, Nevada at the Peppermill Resort. GreenPower will display its BEAST and Nano BEAST during the Trade Show on July 17 from 5:30 to 8:30 p.m. PDT and Tuesday, July 18 from 2:00 to 6:00 p.m. PDT in booth #535. The BEAST is GreenPower's purpose-built, 40-foot Type D school bus that can seat up to 90 passengers. The vehicle features a modern monocoque chassis, and believe is the safest, most durable and reliable all-electric school bus available on the market today. The Nano BEAST is a purpose-built, zero-emission, Type A school bus with seating for up to 24 students, or the option for wheelchair securements and a rear curbside lift. GreenPower's all-electric school buses have a class-leading range of up to 150 miles. Transportation professionals from across the country will come together for the annual STN Expo to connect and learn about the latest training techniques, products and services. Most importantly, the Green Bus Summit held during STN Reno will provide a full day of discussion sessions regarding electric school bus adaptation and a ride and drive event in the evening. During the Green Bus Summit, GreenPower, alongside West Virginia representatives, will share the findings from the pilot program which allowed 18 school districts in West Virginia the opportunity to experience GreenPower all-electric school buses in real-world scenarios. The session titled The secrets to Deploying All-electric School Buses in Differing Conditions will be on Sunday, July 16 from 11:00 to 11:50 a.m. PDT. GreenPower's Type D all-electric school bus will be featured at the Green Bus Summit ride and drive on Sunday, July 16 from 6:30 to 8:30p.m. PDT. Attendees will have the opportunity to ride in the purpose-built EV school bus and experience the ride and maneuverability it delivers. Announcement • May 17
Greenpower Motor Company Inc. Names Taylor Freeland as New Head of Human Resources GreenPower Motor Company Inc. announced the appointment of Taylor Freeland as Sr. Manager of Human Resources for the company and that she will be based out of GreenPower'sSouth Charleston, West Virginia manufacturing facility. Freeland is a native West Virginian with a degree in psychology from Marshall University, a master's in human resource management from Southern New Hampshire University and is SHRM certified. Most recently she served as a human resources manager for the West Virginia Division of Highways (DOH) where she provided input and coaching to various upper-level management teams to support performance and operational improvements for more than 20 locations and more than 500 employees. Prior to DOH, Freeland was in various HR roles for G4S Secure Solutions, the West Virginia Department of Health and Human Resources and OVP Health. Recent Insider Transactions Derivative • Apr 29
Independent Director exercised options to buy CA$55k worth of stock. On the 25th of April, David Richardson exercised options to buy 14k shares at a strike price of around CA$3.50, costing a total of CA$50k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Since September 2022, David has owned 2.86m shares directly. Company insiders have collectively bought CA$252k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Feb 15
Third quarter 2023 earnings released: US$0.14 loss per share (vs US$0.13 loss in 3Q 2022) Third quarter 2023 results: US$0.14 loss per share (further deteriorated from US$0.13 loss in 3Q 2022). Revenue: US$12.8m (up 140% from 3Q 2022). Net loss: US$3.37m (loss widened 14% from 3Q 2022). Revenue is forecast to grow 57% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in Canada. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Cathy McLay was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 24
GreenPower Motor Company Inc., Annual General Meeting, Mar 28, 2023 GreenPower Motor Company Inc., Annual General Meeting, Mar 28, 2023. Announcement • Jan 10
Greenpower Motor Company Inc. Launches Round 3 of All-Electric School Bus Pilot Project in Four New School Districts in West Virginia GreenPower Motor Company Inc. announced the launch of Round 3 of its pilot project to demonstrate all-electric school buses in West Virginia. Boone, McDowell and Raleigh counties will deploy the all-electric Type D BEAST school bus while Wyoming County will use the award-winning Type A Nano BEAST school bus. The preliminary data and results from rounds 1 and 2 of the pilot project show that the GreenPower BEAST and NanoBEAST are performing as expected with an overall performance rating of excellent and a battery consumption ranging from 1.1 to 1.5 miles per each percent of State of Charge. The pilots show that when fully utilizing level 2 chargers, the BEAST and Nano BEAST provide a school district a range of 200 to 250 miles per day. The third round of the pilot project will focus on more rural roads, colder temperatures and snowy conditions to showhow the buses handle winter conditions. Reported Earnings • Nov 16
Second quarter 2023 earnings released: US$0.15 loss per share (vs US$0.13 loss in 2Q 2022) Second quarter 2023 results: US$0.15 loss per share (further deteriorated from US$0.13 loss in 2Q 2022). Revenue: US$7.73m (up 74% from 2Q 2022). Net loss: US$3.44m (loss widened 27% from 2Q 2022). Revenue is forecast to grow 59% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in Canada. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Announcement • Nov 01
GreenPower Motor Company Inc. Launches Second Round of All-Electric School Bus Pilot Project in Four New West Virginia School Districts GreenPower Motor Company Inc. announced the launch of the second round of its pilot project with the state of West Virginia to demonstrate all-electric school buses in Clay, Grant, Monongalia and Ohio county school districts. The second round of the pilot program will incorporate new terrains, colder weather and longer school bus routes. Three all-electric GreenPower Type D BEAST school buses will be deployed in Grant, Monongalia and Ohio school districts, while Clay County will deploy the first all-electric Type A Nano BEAST with ADA capabilities in the state of West Virginia. As in the first round, GreenPower will work with the school districts to ensure adequate charging infrastructure is provided for the pilot. This is the second round of GreenPower's pilot project done in cooperation with Gov. Jim Justice, the West Virginia Department of Economic Development and the West Virginia Department of Education. GreenPower will collect data from the program including range, charging infrastructure needs and usage rates, operating and maintenance, student and parent acceptance and more. The data will provide school districts and GreenPower a look into the transition from diesel to electric school buses to better protect the health and safety of communities and children from the contamination of NOx emissions. Announcement • Sep 07
The State of West Virginia and GreenPower Motor Company Inc. Launch All-Electric School Bus Pilot Project for School Districts in Cabell, Kanawha and Mercer Counties GreenPower Motor Company Inc. announced the launch of its West Virginia state pilot project to demonstrate all-electric school buses in school transportation operations across West Virginia starting with Cabell, Kanawha and Mercer Counties. The first buses in each County will be deployed this week bringing school children safely to their school without contamination from NOx emissions. Through the pilot project done in cooperation with Governor Jim Justice, the West Virignia Department of Economic Development and the West Virginia Department of Education, three all-electric GreenPower Type D BEAST school buses will be deployed the week of September 5th in the first three counties – Cabell, Kanawha and Mercer - along with the required charging infrastructure. In the coming weeks, a fourth pilot bus using the Type A Nano BEAST with ADA capabilities will be deployed in Clay County. In June, Gov. Jim Justice directed his Secretary of Economic Development Mitch Carmichael to work with GreenPower to develop a pilot project to provide real-world testing of the vehicles in areas of the state, both rural and urban, and to understand the opportunities and challenges associated with using all-electric school buses to provide safe, reliable, cost-effective school transportation. Each county will test the electric buses for a six-week period and then each all-electric school bus will move to a different county to demonstrate the buses in different parts of the state. The data collected by the pilot project will not only be beneficial to West Virginia, but also to schools across the nation. As one of the only true real-world all-electric school bus pilots, the data will help school districts understand more about EV school buses as they look to deploy them in their fleets on a permanent basis. Among some of the data that will be collected is: range, charging infrastructure needs, handling and maneuverability, operating and maintenance savings, student and parent acceptance and more. The data will help with the anxiety of change as districts look to create a new beginning of a clean school day. Breakeven Date Change • Aug 17
Forecast breakeven date pushed back to 2025 The 6 analysts covering GreenPower Motor previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 86% per year to 2024. The company is expected to make a profit of US$14.1m in 2025. Average annual earnings growth of 87% is required to achieve expected profit on schedule. Reported Earnings • Aug 16
First quarter 2023 earnings released: US$0.19 loss per share (vs US$0.11 loss in 1Q 2022) First quarter 2023 results: US$0.19 loss per share (down from US$0.11 loss in 1Q 2022). Revenue: US$3.85m (up 45% from 1Q 2022). Net loss: US$4.35m (loss widened 92% from 1Q 2022). Over the next year, revenue is forecast to grow 266%, compared to a 65% growth forecast for the Machinery industry in Canada. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Jul 09
GreenPower Motor Company Inc. (TSXV : GPV) acquired Assets of Lion Truck Body Inc for $0.24 million. GreenPower Motor Company Inc. (TSXV : GPV) acquired Assets of Lion Truck Body Inc for $0.24 million on July 8, 2022. GreenPower's purchase of Lion Truck Body is comprised of upfront cash payments totaling $215,000, the assumption of certain liabilities totaling approximately $1.45 million, and remaining cash payments of up to $25,000, which remain subject to customary adjustments and other post-closing conditions.
GreenPower Motor Company Inc. (TSXV : GPV) completed the acquisition of Assets of Lion Truck Body Inc on July 8, 2022 Reported Earnings • Jul 02
Full year 2022 earnings released: US$0.69 loss per share (vs US$0.43 loss in FY 2021) Full year 2022 results: US$0.69 loss per share (down from US$0.43 loss in FY 2021). Revenue: US$17.2m (up 30% from FY 2021). Net loss: US$15.0m (loss widened 92% from FY 2021). Over the next year, revenue is forecast to grow 190%, compared to a 72% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Apr 03
Independent Director exercised options to buy CA$573k worth of stock. On the 27th of March, Malcolm Clay exercised options to buy 57k shares at a strike price of around CA$5.25, costing a total of CA$300k. This transaction amounted to 11% of their direct individual holding at the time of the trade. Since June 2021, Malcolm's direct individual holding has increased from 474.84k shares to 542.70k. Company insiders have collectively bought CA$10m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Apr 01
GreenPower Motor Company Inc., Annual General Meeting, May 26, 2022 GreenPower Motor Company Inc., Annual General Meeting, May 26, 2022. Recent Insider Transactions Derivative • Mar 08
Executive Chairman & CEO exercised options to buy CA$2.5m worth of stock. On the 3rd of March, Fraser Atkinson exercised options to buy 343k shares at a strike price of around CA$4.20, costing a total of CA$1.4m. This transaction amounted to 20% of their direct individual holding at the time of the trade. Since March 2021, Fraser's direct individual holding has decreased from 2.00m shares to 1.32m. Company insiders have collectively bought CA$8.5m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Mar 02
Executive Chairman & CEO exercised options to buy CA$711k worth of stock. On the 24th of February, Fraser Atkinson exercised options to buy 86k shares at a strike price of around CA$5.25, costing a total of CA$450k. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. Since March 2021, Fraser's direct individual holding has decreased from 2.00m shares to 1.23m. Company insiders have collectively bought CA$4.1m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Feb 13
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: US$0.13 loss per share (down from US$0.11 loss in 3Q 2021). Revenue: US$5.31m (up 122% from 3Q 2021). Net loss: US$2.96m (loss widened 39% from 3Q 2021). Revenue missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 147%, compared to a 101% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings. Breakeven Date Change • Feb 11
Forecast breakeven date moved forward to 2023 The 5 analysts covering GreenPower Motor previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of US$367.0k in 2023. Average annual earnings growth of 72% is required to achieve expected profit on schedule. Recent Insider Transactions Derivative • Jan 28
Executive Chairman & CEO exercised options to buy CA$92k worth of stock. On the 25th of January, Fraser Atkinson exercised options to buy 14k shares at a strike price of around CA$5.25, costing a total of CA$75k. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. Since March 2021, Fraser's direct individual holding has decreased from 2.00m shares to 1.22m. Company insiders have collectively bought CA$3.8m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Jan 13
Independent Director exercised options to buy CA$131k worth of stock. On the 6th of January, Malcolm Clay exercised options to buy 14k shares at a strike price of around CA$5.25, costing a total of CA$75k. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. Since March 2021, Malcolm's direct individual holding has increased from 474.84k shares to 528.41k. Company insiders have collectively bought CA$3.8m more than they sold, via options and on-market transactions, in the last 12 months. Breakeven Date Change • Jan 08
Forecast breakeven date pushed back to 2024 The 5 analysts covering GreenPower Motor previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 65% per year to 2023. The company is expected to make a profit of US$6.79m in 2024. Average annual earnings growth of 71% is required to achieve expected profit on schedule. Announcement • Dec 30
GreenPower Motor Company Inc. Announces Test Rides and Demonstration of Its AV Star with Perrone Robotics At CES 2022 GreenPower Motor Company Inc. announced its AV Star will be on display and used as a demo vehicle at CES® 2022 as part of Perrone Robotic's Innovation Alley demonstration track. This announcement falls on the heels of GreenPower and Perrone's recent OEM agreement, which continues to build on the success of the original AV Star developed for the Jacksonville Transportation Authority (JTA). CES attendees will get an up close and personal look at technology as they cruise around a 556-foot track in what may be their first ride in an autonomous vehicle. The AV Star is the nation's first fully-autonomous, zero-emissions, all-electric, ADA-compliant, FMVSS certified and Buy America shuttle capable of highway speeds. CES attendees and media will have the opportunity to ride, experience and connect with industry executives as they bring together the most advanced AV mobility options for reliable transit and transportation programs. Reported Earnings • Nov 14
Second quarter 2022 earnings released: US$0.13 loss per share (vs US$0.089 loss in 2Q 2021) The company reported a mediocre second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2022 results: Revenue: US$4.44m (up 57% from 2Q 2021). Net loss: US$2.71m (loss widened 83% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 83% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Sep 25
Independent Director exercised options to buy CA$1.0m worth of stock. On the 21st of September, Malcolm Clay exercised options to buy 54k shares at a strike price of around CA$3.50, costing a total of CA$187k. This transaction amounted to 11% of their direct individual holding at the time of the trade. Since December 2020, Malcolm's direct individual holding has increased from 453.41k shares to 474.84k. Company insiders have collectively bought CA$6.9m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Sep 02
GreenPower Motor Company Inc. Unveils the BEAST GreenPower Motor Company Inc. announced the official launch and formal unveiling of the BEAST, a purpose built, all-electric, zero-emissions school bus. GreenPower will showcase the BEAST at the Advanced Clean Transportation (ACT) Expo at Booth #911, which runs through Sept. 1, 2021 in Long Beach, Calif. at the Long Beach Convention Center. The BEAST (Battery Electric Automotive School Transportation), an all-electric 40 foot Type D battery electric school bus, delivers a class-leading range of up to 150 miles on a single charge via a 194kWh battery pack. The bus can seat up to 90 passengers with standard features that include: air ride suspension, ABS disk brakes and pass-through storage. Featuring a modern monocoque chassis, the BEAST is the safest, most durable and reliable battery-electric school bus available on the market. Its seamlessly integrated body and chassis design forms a composite structure which is the GreenPower Motor Company Truss(T) factor. Safety is at the forefront of every vehicle GreenPower puts on the road, and the BEAST is no exception. What's more, GreenPower's innovative technology can drive down fuel costs and minimize maintenance costs while delivering outstanding reliability and efficiency. GreenPower's school buses offer a significant increase in strength and battery weight distribution due to its unique structurally superior integrated purpose-built design. GreenPower will begin initial deliveries to customers under existing contracts in the coming weeks, and anticipates that the pace of these deliveries will increase significantly by the end of the year. In anticipation of the growth in demand from President Biden's Federal Infrastructure Plan, GreenPower increased its school bus production from 5 units per month to 10 units per month at the beginning of the year and expects to increase production rates over time as interest in zero-emission all-electric school buses accelerates rapidly throughout the country. Recent Insider Transactions Derivative • Sep 01
Independent Director exercised options to buy CA$6.2m worth of stock. On the 24th of August, David Richardson exercised options to buy 357k shares at a strike price of around CA$3.50, costing a total of CA$1.3m. This transaction amounted to 17% of their direct individual holding at the time of the trade. Since December 2020, David's direct individual holding has increased from 1.74m shares to 2.50m. Company insiders have collectively bought CA$7.0m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Aug 25
Greenpower to Showcase All-Electric Beast School Bus and EV Stars At the Advanced Clean Transportation (Act) Expo GreenPower Motor Company Inc. announced its participation and vehicle showcase in booth #911 at the Advanced Clean Transportation (ACT) Expo being held August 31 - September 1, 2021 in Long Beach, CA at the Long Beach Convention Center. GreenPower will be hosting a Ride & Drive event at the conference on September 1 from 11:00 - 2:15 p.m. PDT. ACT Expo serves as the official meeting place for transportation executives looking to gain hands-on access to the fuels, technologies and vehicles driving the future of transportation. Each year, the show features dozens of product debuts and major announcements from the leading OEMs and suppliers. At the expo (booth #911), GreenPower will showcase for the first time in a public forum the BEAST, all-electric school bus, along with two models of EV Stars. BEAST (Electric School Bus) The BEAST stands for battery electric automotive school transportation. It is an all-electric, zero-noise pollution school bus. It features a Monocoque chassis and has been designed from the ground up to be battery electric. EV Star (Side ADA) The EV Star is a multi-purpose, zero-emission, min-E Bus. It has a range of up to 150 miles and offers dual charging capabilities as a standard feature. The EV Star can be used for para-transit, employee shuttles, micro-transit, and vanpool service. EV Star Cargo Plus The EV Star Cargo Plus exceeds delivery needs with a capacity of up to 5,000 pounds and a driving range of 150 miles. It is the zero-emissions vehicle made to carry deliveries and can take on the most challenging routes. Reported Earnings • Aug 14
First quarter 2022 earnings released: US$0.11 loss per share (vs US$0.092 loss in 1Q 2021) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: US$2.66m (up 17% from 1Q 2021). Net loss: US$2.26m (loss widened 58% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. Breakeven Date Change • Aug 14
Forecast breakeven pushed back to 2023 The 4 analysts covering GreenPower Motor previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 21% to 2022. The company is expected to make a profit of US$8.04m in 2023. Average annual earnings growth of 83% is required to achieve expected profit on schedule. Reported Earnings • Jul 01
Full year 2021 earnings released: US$0.43 loss per share (vs US$0.34 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: US$11.9m (down 12% from FY 2020). Net loss: US$7.84m (loss widened 52% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 72% per year, which means it is well ahead of earnings. Recent Insider Transactions • May 13
Executive Chairman & CEO recently bought CA$119k worth of stock On the 7th of May, Fraser Atkinson bought around 6k shares on-market at roughly CA$19.91 per share. This was the largest purchase by an insider in the last 3 months. Fraser has been a buyer over the last 12 months, purchasing a net total of CA$870k worth in shares. Recent Insider Transactions • May 06
Executive Chairman & CEO recently bought CA$109k worth of stock On the 30th of April, Fraser Atkinson bought around 5k shares on-market at roughly CA$21.75 per share. This was the largest purchase by an insider in the last 3 months. Fraser has been a buyer over the last 12 months, purchasing a net total of CA$523k worth in shares. Announcement • Mar 16
GreenPower Motor Company Inc., Annual General Meeting, May 18, 2021 GreenPower Motor Company Inc., Annual General Meeting, May 18, 2021.