Announcement • Feb 09
Fourth Amended Joint Reorganization Plan and Disclosure Statement Filed by Proterra Inc. Proterra Inc. filed fourth amended joint plan of reorganization in the US Bankruptcy Court on February 8, 2024. As per the amended plan filed, there is no change in the treatment of any claim class. Announcement • Feb 03
Proterra Inc. Announces CFO Changes Proterra Inc. announced that on February 1, 2024, in connection with the closing of the Powered Sale, David S. Black resigned as Chief Financial Officer and appointment of Justin Derek Pugh as acting chief financial officer. Justin Pugh, has served as Chief Transformation Officer of the Debtors since August 7, 2023. In his capacity as Chief Transformation Officer of the Debtors, Mr. Pugh has authority to act on behalf of the Debtors in connection with activities related to operational analysis and reporting, negotiation with counterparties, in each case as may be requested by the Debtors’ Chief Executive Officer. Effective as of February 1, 2024, the Restructuring Committee of the Boards of Directors of the Debtors approved that Mr. Pugh, in his capacity as the Debtors’ Chief Transformation Officer, shall assume all of the responsibilities, and the authority to act on behalf of the Debtors, of the Debtors’ acting Chief Financial Officer until a permanent Chief Financial Officer is appointed; Mr. Pugh, age 42, is a Senior Managing Director at FTI, a global consulting firm, where he has worked since 2017. Mr. Pugh earned a bachelor’s degree in finance and a master’s degree in finance and mathematics from Louisiana State University and an MBA from the University of Rochester. He is a chartered financial analyst and certified public accountant. FTI serves as financial advisor to the Company to support their contingency planning efforts. Announcement • Feb 02
Proterra Inc. Announces Board Changes Proterra Inc. announced that on February 1, 2024 in connection with the closing of the Powered Sale, Christopher L. Bailey resigned as Chief Business Officer, Jeffrey D. Embt resigned as Chief Accounting Officer and Julian R. Soell resigned as Chief Operating Officer of the Company, effective March 15, 2024. Mr. Soell’s resignation has been revised to take effect February 2, 2024. On February 1, 2024, in connection with the closing of the Powered Sale, Jeffrey E. Mitchell resigned as General Counsel of the Company. Announcement • Jan 10
Motion for Asset Sale Approved for Proterra Inc. The US Bankruptcy Court gave an order approving the sale of certain assets of Proterra Inc. and Proterra Operating Company, Inc. on January 9, 2024. The debtor has been authorized to sell its certain assets to Phoenix Motor, Inc. for a purchase price of $3.50 million. The debtor’s assets include certain assets of Proterra Transit excluding the Battery Leases. Announcement • Dec 27
Proterra Inc. Announces Resignation of Julian Soell as Chief Operating Officer, Effective March 15, 2024 Proterra Inc. announced that Mr. Julian Soell notified the company of his resignation from his position as Chief Operating Officer of the Company, effective as of March 15, 2024. In connection with Mr. Soell’s resignation, he did not express any disagreement on any matter relating to the Company’s operations, policies or practices. Announcement • Sep 09
Nasdaq to Delist the Common Stock of Proterra Nasdaq announced that it will delist the common stock of Proterra Inc. Proterra Inc.’s securities were suspended on August 17, 2023, and have not traded on Nasdaq since that time. Announcement • Sep 08
Frank R. Cruz Announces Securities Fraud Lawsuit Against Proterra Inc The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Proterra Inc. Class Period: August 11, 2021 – August 7, 2023. Lead Plaintiff Deadline: September 12, 2023. The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) the Company repeatedly stated the $523 million on their balance sheet meant the company had abundant liquidity and financial stability; (2) the new factory would continue to improve production efficiency and gross margins; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. To be a member of the class action need not take any action at this time; may retain counsel of choice or take no action and remain an absent member of the class action. Announcement • Aug 25
Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Proterra, Inc Bragar Eagel & Squire, P.C. announced that a class action lawsuit has been filed against Proterra Inc. in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased or otherwise acquired Proterra securities between August 2, 2022, and March 15, 2023, both dates inclusive (the “Class Period”). Investors have until September 12, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit. On March 15, 2023, Proterra announced their quarterly earnings. In that announcement, the Company stated they were in violation of a liquidity clause in their secured convertible notes and that they may have to qualify an audit report with a “going concern” clause. The financial issues stemmed from an increase in cash burn because of a decrease in gross margin and an increase in accounts receivable during the relevant quarter. The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company repeatedly stated the $523 on their balance sheet meant the company had abundant liquidity and financial stability; and, (ii) the new factory in Greer, South Carolina would continue to improve production efficiency and gross margins. Announcement • Aug 18
Proterra Inc.(OTCPK:PTRA.Q) dropped from NASDAQ Transportation Index Proterra Inc. has been dropped from NASDAQ Transportation Index Announcement • Aug 17
Rain Oncology Inc., Proterra Inc., Bioxcel Therapeutics, Inc Announces Class Action Update Johnson Fistel, LLP, a law firm specializing in shareholder rights, has announced the initiation of class action lawsuits on behalf of investors of the following companies. Investors are encouraged to review the deadlines listed and submit their information. Class Period: July 20, 2021 and May 19, 2023. Lead Plaintiff Deadline: September 12, 2023. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company concealed risks inherent in the design of its Phase 3 MANTRA study particularly with regard to proceeding directly to Phase 3 from Phase 1; (2) as a result, the Company’s statements about the trial and the likelihood of FDA approval were materially misleading during the Class Period, and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.The lawsuit alleges Proterra made materially false and/or misleading statements and/or failed to disclose material adverse facts, including: (i) Proterra repeatedly stated the $523 million of cash on its balance sheet meant Proterra had abundant liquidity and financial stability; and (ii) Proterra’s new Greer, South Carolina factory would continue to improve production efficiency and gross margins. BioXcel Therapeutics, Inc. (NASDAQ: BTAI). Class Period: December 15, 2021 and June 28, 2023; Lead Plaintiff Deadline: September 5, 2023; The BioXcel class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) BioXcel lacked adequate internal controls over protocol adherence and data integrity; (ii) as a result, BioXcel’s principal investigator failed to adhere to the informed consent form approved by the Institutional Review Board; (iii) BioXcel’s principal investigator failed to maintain adequate case histories for certain patients whose records were reviewed by the U.S. Food and Drug Administration (“FDA”); (iv) BioXcel’s principal investigator fabricated email correspondence with a pharmacovigilance safety vendor that was then provided to the FDA; and (v) the above would negatively impact BioXcel’s ability to obtain regulatory approval of BXCL501 for the treatment of agitation associated with dementia in patients with probable Alzheimer’s disease. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. Announcement • Aug 10
Proterra Inc. Announces Executive Appointments Proterra Inc. announced that on August 7, 2023, Jill Frizzley was elected as a director of the Board of the Company, effective immediately. With this election, the Company’s Board of Directors is comprised of 9 members. There is no agreement or understanding between Ms. Frizzley and any other person pursuant to which she was selected as a director. Ms. Frizzley has also been appointed as a member of the Restructuring Committee of the Board (the Restructuring Committee) and the Investigation Committee of the Board. The members of the Restructuring Committee are Jill Frizzley, Jan Hauser, Gareth Joyce, Mary Louise Krakauer, and Roger Nielsen. The Board has formed an Investigation Committee with Ms. Frizzley as the sole member. The Investigation Committee is vested with the power and authority of the Board to oversee and undertake certain investigations. On August 7, 2023, the Company appointed Justin D. Pugh, Managing Director of FTI Consulting, as Chief Transformation Officer of the Company. Mr. Pugh has joined the Company’s senior management team and will help facilitate the Company’s restructuring efforts. Announcement • Aug 08
Motion for Joint Administration Filed by Proterra Inc. Proterra Inc., along with its affiliate, filed a motion for joint administration of their Chapter 11 bankruptcy cases in the US Bankruptcy Court on August 07, 2023. As per the motion, the debtor seeks the joint administration of the cases of its affiliate, Proterra Operating Company Inc., with its own case for administrative and procedural purposes. Proterra Inc. has been proposed as the lead debtor. Announcement • Aug 03
Proterra Inc. to Report Q2, 2023 Results on Aug 09, 2023 Proterra Inc. announced that they will report Q2, 2023 results on Aug 09, 2023 Announcement • Jul 15
Levi & Korsinsky, LLP Files A Complaint to Recover Losses Suffered by Purchasers of Proterra Inc Levi & Korsinsky, LLP filed a complaint to recover losses suffered by purchasers of Proterra Inc. Securities and Sets a Lead Plaintiff Deadline of September 12, 2023. On March 15, 2023, Proterra announced their quarterly earnings. In that announcement, the Company stated they were in violation of a liquidity clause in their secured convertible notes and that they may have to qualify an audit report with a “going concern” clause. The financial issues stemmed from an increase in cash burn because of a decrease in gross margin and an increase in accounts receivable during the relevant quarter. In response to the announcement, Proterra’s stock price substantially dropped from $2.51 per share to $1.16 per share, eliminating approximately $118 million in market capitalization in one day. The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company repeatedly stated the $523 on their balance sheet meant the company had abundant liquidity and financial stability; and, (ii) the new factory in Greer, South Carolina would continue to improve production efficiency and gross margins. Announcement • Jun 09
Proterra Inc. Announces Appointment of Jeffrey Embt as Chief Accounting Officer Proterra Inc. announced the appointment of Jeffrey Embt as Chief Accounting Officer (CAO), effective June 8, 2023. Mr. Embt brings nearly 20 years of corporate accounting and financial management experience to Proterra. Prior to joining Proterra, Mr. Embt served as Head of Finance of BWXT Medical, a manufacturer of radiopharmaceuticals, radiotherapies, and medical isotopes. He previously held roles in technical accounting with companies including BWX Technologies and within the audit practice of Deloitte. A Certified Public Accountant, Mr. Embt holds a Bachelor of Science in Accounting and Finance from Coastal Carolina University. Announcement • May 12
Proterra Inc. Announces Board Changes Proterra Inc. announced that Jack Allen’s term as Non-Executive Chairman and Member of Proterra’s Board of Directors will expire at the company’s annual stockholders’ meeting and he will retire from the Board. Proterra’s Board of Directors has reduced the size of the board from nine to eight directors effective upon the expiration of Mr. Allen’s term, and appointed Roger M. Nielsen as the company’s new Chairman of the Board, as of the annual meeting. Mr. Allen joined Proterra’s Board of Directors in 2017 after more than 30 years at Navistar International, the global truck and bus company. In addition to his role as Board Chairman, Mr. Allen served as Proterra’s Chief Executive Officer from March 2020 through December 2021. Mr. Allen subsequently assumed the role of Non-Executive Chairman on Proterra’s Board of Directors following his retirement as Proterra CEO in late 2021. Roger Nielsen was appointed to the Proterra Board of Directors in 2022 following his retirement from Daimler Truck, a leading global commercial vehicle manufacturer after a 35-year career that included serving as President and CEO of Daimler Truck North America. As a Proterra Board Director, Mr. Nielsen also serves on its Audit Committee. Reported Earnings • May 11
First quarter 2023 earnings released: US$1.08 loss per share (vs US$0.23 loss in 1Q 2022) First quarter 2023 results: US$1.08 loss per share (further deteriorated from US$0.23 loss in 1Q 2022). Revenue: US$79.5m (up 36% from 1Q 2022). Net loss: US$244.0m (loss widened 387% from 1Q 2022). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Reported Earnings • Mar 17
Full year 2022 earnings released: US$1.06 loss per share (vs US$2.07 loss in FY 2021) Full year 2022 results: US$1.06 loss per share (improved from US$2.07 loss in FY 2021). Revenue: US$309.4m (up 27% from FY 2021). Net loss: US$238.0m (loss narrowed 4.8% from FY 2021). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Breakeven Date Change • Mar 17
No longer forecast to breakeven The 6 analysts covering Proterra no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$24.0m in 2025. New consensus forecast suggests the company will make a loss of US$72.2m in 2025. Announcement • Feb 14
Proterra Inc. Appoints Julian Soell as Chief Operating Officer and Chris Bailey as Chief Business Officer, Effective March 1, 2023 Proterra Inc. announced the appointments of Julian Soell as Chief Operating Officer and Chris Bailey as Chief Business Officer effective March 1, 2023. As Chief Operating Officer, Julian will oversee all of Proterra’s manufacturing and plant operations, quality, and supply chain across the Company’s business units that includes Proterra Transit and Proterra Powered & Energy. In his role as Chief Business Officer, Chris will lead all commercial activities for Proterra including business development, sales and marketing, customer program management, as well as customer success and service. Previously President of Proterra Transit, Julian has more than 30 years of automotive and operational experience. Prior to joining Proterra, Julian most recently serving as Chief Operating Officer at Repairify. Previously, he held engineering leadership roles at automotive companies including Mercedes Benz USA, Ford Motor Company, and Harley-Davidson Motor Company. Outside of the automotive industry, Julian has also held large operational and customer service roles at Delta Air Lines. Chris Bailey most recently held the role of President of Proterra Powered & Energy. Chris is a technology and market development executive who, prior to joining Proterra, served in numerous customer-focused product management roles over 17 years with Hubbell Incorporated. At Hubbell, he most recently served as Vice President of Product Innovation and Technology Strategy and Vice President of Hubbell Integrated Solutions, responsible for product management and market development efforts for Hubbell’s integrated technology strategy. Recent Insider Transactions • Jan 27
President recently sold €104k worth of stock On the 23rd of January, Gareth Joyce sold around 23k shares on-market at roughly €4.61 per share. This transaction amounted to 6.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Gareth has been a net seller over the last 12 months, reducing personal holdings by €125k. Board Change • Jan 18
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. Independent Director Joan Robinson-Berry is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jan 13
Proterra Inc Produces Proterra Powered EV Battery At Its New Powered 1 Battery Manufacturing Plant Located in Greer, South Carolina Proterra Inc. announced that the company has produced the first Proterra Powered EV battery at its new Powered 1 battery manufacturing plant located in Greer, South Carolina. By achieving this end-to-end production milestone at Powered 1, Proterra is expected to begin deliveries to customers of Proterra Powered™ battery systems from the new battery factory in the first quarter of 2023. In addition, Powered 1 has started production of drivetrains and other ancillary systems incorporated into electric medium- and heavy-duty electric vehicles and equipment, such as high voltage junction boxes. Powered 1 is Proterra’s first purpose-built, high-volume battery production plant in the Eastern United States with multiple gigawatt hours of annual production capacity planned at the facility. Proterra has already created more than 100 new jobs at the 327,000 square foot battery plant, with roles including engineering, production, quality, and other positions within the company’s Proterra Powered & Energy business unit. By opening the company’s first battery factory in South Carolina Proterra is bringing state-of-the art battery production closer to its Proterra Powered customers on the East Coast, Europe, and its own Proterra Transit electric bus manufacturing operations in Greenville, South Carolina. Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The 6 analysts covering Proterra expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$24.0m in 2025. Average annual earnings growth of 50% is required to achieve expected profit on schedule. Board Change • Nov 21
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. Independent Director Joan Robinson-Berry is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 04
Third quarter 2022 earnings released: US$0.29 loss per share (vs US$0.17 profit in 3Q 2021) Third quarter 2022 results: US$0.29 loss per share (down from US$0.17 profit in 3Q 2021). Revenue: US$96.2m (up 55% from 3Q 2021). Net loss: US$65.1m (down 279% from profit in 3Q 2021). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in Germany. Announcement • Oct 20
Proterra Inc. to Report Q3, 2022 Results on Nov 02, 2022 Proterra Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 02, 2022 Announcement • Oct 06
Proterra Inc Appoints Sara Dadyar as Chief People Officer Effective October 17, 2022 Proterra Inc. announced the appointment of Sara Dadyar as Chief People Officer effective October 17, 2022. Sara brings more than 20 years of people operations and human resources experience to Proterra and joins the company after most recently serving as Executive HR Leader within General Electric’s Gas Power business. Previously, Sara held various HR leadership roles across GE’s financial services and power businesses. As Chief People Officer, Sara will oversee all workplace and people operations at Proterra, including recruiting, benefits and rewards, organizational and people development, and diversity, equity and inclusion. Sara holds Bachelor of Arts from the University of Connecticut and a Master of Sciences in Human Resources Management from Manhattanville College. Reported Earnings • Aug 03
Second quarter 2022 earnings released: US$0.19 loss per share (vs US$4.24 loss in 2Q 2021) Second quarter 2022 results: US$0.19 loss per share (up from US$4.24 loss in 2Q 2021). Revenue: US$74.6m (up 28% from 2Q 2021). Net loss: US$41.8m (loss narrowed 78% from 2Q 2021). Over the next year, revenue is forecast to grow 63%, compared to a 9.6% growth forecast for the industry in Germany. Announcement • Aug 03
Proterra Inc. Re-Affirms Revenue Guidance for the Full Year 2022 Proterra Inc. re-affirmed revenue guidance for the full year 2022. For the year, With the first half of 2022 behind us, the company reaffirm guidance for total revenue to grow between 24% and 34% year-over-year to a range of $300 million to $325 million in 2022. Announcement • Jul 20
Proterra Inc. to Report Q2, 2022 Results on Aug 02, 2022 Proterra Inc. announced that they will report Q2, 2022 results After-Market on Aug 02, 2022 Announcement • Jun 16
Proterra Announces Appointment of Jan Hauser to Board of Directors Proterra Inc. announced the appointment of Jan Hauser to the company’s board of directors effective June 9, 2022. An experienced director and global finance leader, Ms. Hauser is a retired partner of multi-national professional services firm PricewaterhouseCoopers (PwC) and recently served as Vice President and Chief Accounting Officer at GE from 2013 to 2018, where she led a team of more than 3,000 controllership professionals. During Ms. Hauser’s time with GE, she supported companies spanning multiple industries, from financial services to technology and digital transformation, aviation, healthcare and renewable energy, among others. Ms. Hauser currently serves on the boards of directors at Enfusion Inc., as well as Vonage Holdings Corp. She is a licensed CPA and graduated Summa Cum Laude from the University of Wisconsin. Board Change • Jun 02
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. Independent Director Joan Robinson-Berry is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 20
Proterra Inc. Announces Appointment of Julian Soell as President of Proterra Transit Business Unit, Effective May 2, 2022 Proterra Inc. announced the appointment of Julian Soell as president of its Proterra Transit business unit effective May 2, 2022. As president of Proterra Transit, Julian will oversee Proterra’s growing business as the leading manufacturer of electric transit buses in North America. In his role, Julian will report directly to Proterra’s Chief Executive Officer Gareth Joyce. Julian brings nearly 30 years of automotive and operational experience to Proterra and joins the company after most recently serving as Chief Operating Officer at Repairify, a high-growth global leader in automotive service, technology and business insights solutions. Previously, he held engineering leadership roles at automotive companies including Mercedes Benz USA and Harley-Davidson Motor Company. Outside of the automotive industry, Julian has also held large operational and customer service roles at Delta Air Lines. Announcement • Apr 16
Proterra Inc., Annual General Meeting, May 26, 2022 Proterra Inc., Annual General Meeting, May 26, 2022, at 08:00 US Mountain Standard Time. Agenda: To elect three Class I directors to serve until the 2025 Annual Meeting of Stockholders; to vote, on an advisory basis, on the frequency of holding an advisory vote on company's named executive officer compensation; to ratify the appointment of KPMG LLP as company's independent registered public accounting firm for the fiscal year ending December 31, 2022; and to transact such other business as may properly come before the Annual Meeting and any continuation, postponement or adjournment of the Annual Meeting. Announcement • Apr 15
Proterra Introduces ZX5 Electric Bus with 738 Kilowatt Hours of Energy Proterra Inc. announced that it is increasing the amount of energy onboard its purpose-built ZX5 electric transit bus – delivering more battery storage to help transit agencies scale zero-emission bus fleets with electric vehicle technology. Starting in 2023, the 40-foot Proterra ZX5 Max electric transit bus can be equipped with up to 738 kilowatt hours (kWh) of onboard energy. Through this enhancement, Proterra transit buses now feature the most energy storage of any 40-foot electric bus available in the North American market. With 738 kWh of battery energy storage, the ZX5 Max can deliver more than 300 miles of drive range on a single charge, depending on route conditions, configuration and operation. In addition, the 35-foot and 40-foot ZX5+ electric bus models can be equipped with up to 492 kWh of onboard energy for routes with less demanding range requirements. Designed and manufactured in the United States, Proterra’s electric transit buses are equipped with the company’s Proterra Powered battery technology systems. By increasing the amount of onboard energy from the ZX5’s original energy levels, today’s announcement reinforces how Proterra is continually innovating on its best-in-class battery technology to deliver EV solutions for the commercial vehicle market. With more energy onboard combined with Proterra’s refined composite bus body design, the Proterra ZX5 is designed for optimal performance to tackle the toughest transit routes and extreme weather conditions, including cold weather climates. Proterra Powered’s battery platform leverages energy density manufactured for maximum range, a customizable design to fit within a variety of vehicles, and a ruggedized commercial grade housing to withstand harsh environments. Proterra’s battery systems have been proven through more than 25 million service miles driven by Proterra Transit vehicles and selected by world-class commercial vehicle manufacturers to power zero-emission electric delivery vehicles and work trucks, semi-trucks, construction and mining equipment, school and coach buses, and low-floor cutaway shuttles. Announcement • Mar 04
Proterra Inc. announced delayed annual 10-K filing On 03/02/2022, Proterra Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Mar 03
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: US$2.07 loss per share (up from US$25.85 loss in FY 2020). Revenue: US$242.9m (up 23% from FY 2020). Net loss: US$250.0m (loss widened 97% from FY 2020). Revenue exceeded analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 55%, compared to a 11% growth forecast for the industry in Germany. Announcement • Feb 24
Proterra Inc. Announces Board Changes Proterra Inc. announced the appointment of Roger Nielsen to the company’s board of directors effective March 2, 2022. The company also announced that Jochen Goetz will be stepping down from the company’s board effective March 2, 2022 so that he may focus on his other professional responsibilities. Mr. Nielsen fills the vacancy on the Proterra board created by the departure of John F. Erhard of ArcLight Capital. Mr. Nielsen is a leader in commercial vehicle product development, having recently retired from Daimler Trucks, after a 35-year career that included serving as President and CEO of Daimler Trucks North America. During his time at Daimler Trucks, Mr. Nielsen spearheaded the company’s significant advancements in the electrification of its heavy and medium duty trucks and school buses. Announcement • Feb 04
Proterra Inc. to Report Q4, 2021 Results on Mar 01, 2022 Proterra Inc. announced that they will report Q4, 2021 results After-Market on Mar 01, 2022 Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS US$0.17 (vs US$10.11 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$61.9m (up 30% from 3Q 2020). Net income: US$36.3m (up US$83.2m from 3Q 2020). Profit margin: 59% (up from net loss in 3Q 2020). The move to profitability was primarily driven by lower expenses. Executive Departure • Sep 19
CFO & Treasurer Amy Ard has left the company During their tenure, earnings grew by 65% annually compared to the industry average of 23%. We don't have any record of a personal shareholding under Amy's name. Amy is the only executive to leave the company over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Aug 13
Second quarter 2021 earnings released: US$4.24 loss per share (vs US$10.11 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: US$58.5m (up 23% from 2Q 2020). Net loss: US$189.0m (loss widened 303% from 2Q 2020). 