Core Viewpoint - GreenPower Motor Company reported a strong third-quarter performance for fiscal year 2025, with significant revenue growth and improvements in gross profit, indicating a robust demand for its all-electric vehicles [2][7]. Financial Performance - Generated revenues of $7.2 million for the three months ended December 31, 2024, representing a 35% increase over the previous quarter [7]. - Gross profit improved to 14.6% of revenue, up from 8.6% in the previous quarter [7]. - Working capital at the end of the quarter was $12.8 million, an increase of $2.7 million over the previous quarter [7]. - Deferred revenue increased to $10.8 million by the end of the quarter [7]. - Completed an underwritten offering of 3,000,000 common shares, raising gross proceeds of $3 million [7]. Manufacturing Operations - The company is scaling its manufacturing operations, with plans to deliver one BEAST per week from its West Virginia facility, increasing to two per week by April [2]. - GreenPower is expanding its California manufacturing footprint by consolidating operations from three separate locations into one larger facility, which is expected to enhance cost savings and efficiency [2]. Product Delivery - Delivered 13 BEAST Type D all-electric school buses, one Nano BEAST Type A school bus, one EV Star Cargo Plus, and 13 EV Star Passenger Vans during the quarter [7]. Leadership and Team Expansion - Strengthened the leadership team with the addition of James Redd as the new West Virginia production manager, aimed at supporting the growth and efficiency of manufacturing operations [2].

Core Viewpoint - GreenPower Motor Company Inc. (GP) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][4][6]. Earnings Estimates and Revisions - The Zacks rating system focuses on changes in earnings estimates, which are crucial for assessing a company's future earnings potential and stock price movements [2][5]. - For the fiscal year ending March 2025, GreenPower Motor is expected to earn -$0.71 per share, reflecting a 4.1% change from the previous year [9]. - Over the past three months, the Zacks Consensus Estimate for GreenPower Motor has increased by 11.3%, indicating a positive trend in earnings estimates [9]. Zacks Rating System - The Zacks Rank stock-rating system categorizes stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - The upgrade of GreenPower Motor to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [10][11].

Group 1 - GreenPower is experiencing a surge in demand for its all-electric school buses, with record levels in the order pipeline and production schedule, and sales projections for next year expected to surpass those of 2024 [1] - Recent orders include seven BEAST buses for Los Banos Unified School District, two BEAST buses for Casa Grande Elementary School District, and two BEAST buses for Hood River County School District [1] - The BEAST is a 40-foot Type D all-electric school bus designed to seat up to 90 students, featuring a corrosion-resistant aluminum body and a high-strength steel chassis [2] Group 2 - GreenPower specializes in designing, building, and distributing a range of all-electric vehicles, including school buses, transit buses, shuttles, and cargo vans, with a focus on zero emissions [3] - The company employs a clean-sheet design approach to manufacture its vehicles, integrating global suppliers for key components to ensure ease of maintenance and warranty accessibility [3] - GreenPower was founded in Vancouver, Canada, and has operational facilities in southern California, with its shares listed on the Toronto exchange since November 2015 and on NASDAQ since August 2020 [3]

Core Viewpoint - GreenPower Motor Company has appointed Mr. Sebastian Giordano to its Board of Directors, enhancing the company's technical, financial, and governance expertise, while also announcing the resignation of Cathy McLay from the Board [1][3]. Company Overview - GreenPower Motor Company, based in Vancouver, Canada, specializes in manufacturing and distributing all-electric, purpose-built, zero-emission medium and heavy-duty vehicles for various sectors including cargo, delivery, shuttle, transit, and school buses [5]. Board Appointment - Mr. Giordano brings extensive experience in the transportation and electric vehicle sectors, having served on the boards of several companies including AYRO, Inc. and DropCar, Inc. He has also provided C-Level consulting services for over 22 years across diverse industries [2]. - Mr. Giordano expressed enthusiasm about contributing to GreenPower's growth objectives alongside the management team [3]. Resignation - Cathy McLay has resigned from the Board, with the CEO of GreenPower, Fraser Atkinson, acknowledging her dedication and contributions since her appointment in January 2020 [4].

Core Insights - GreenPower received a follow-on order from Transportation Commodities Inc. (TCI) for its all-electric vehicles, indicating strong customer satisfaction and demand for zero-emission options [1] - TCI has been operating four GreenPower vehicles since 2021, highlighting the reliability and performance of GreenPower's electric vehicles in real-world applications [1] - The EV Star Cab & Chassis is designed for mid and last-mile delivery, with a carrying capacity of 7,000 pounds and a range of up to 150 miles, making it suitable for various fleet operations [2] Company Overview - GreenPower Motor Company designs, builds, and distributes a range of all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans [3] - The company employs a clean-sheet design approach to manufacture vehicles that are purpose-built for battery power and zero emissions, integrating global suppliers for key components [3] - GreenPower was founded in Vancouver, Canada, and has operational facilities in southern California, with its shares listed on the Toronto exchange since November 2015 and on NASDAQ since August 2020 [3]

Core Insights - GreenPower Motor Company Inc. is a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles, targeting the cargo and delivery market, shuttle and transit space, and school bus sector [1][2] - The company is hosting a webinar on December 4, 2024, featuring key executives who will discuss the company's strategic positioning and growth trajectory [1][2] Company Overview - GreenPower designs, builds, and distributes a full suite of high-floor and low-floor all-electric vehicles, including transit buses, school buses, shuttles, and cargo vans [4] - The company employs a clean-sheet design approach to manufacture vehicles that are battery-powered with zero emissions, integrating global suppliers for key components [4] - GreenPower has built approximately 900 vehicles to date, generating over $90 million in revenue from 614 vehicles delivered in the past three fiscal years [2] Strategic Positioning - The company aims to advance the adoption of electric vehicles by making all-electric buses and trucks affordable, durable, and easy to deploy [2] - GreenPower has a substantial order pipeline and key partnerships across various sectors, indicating strong market demand and growth potential [2]

Financial Data and Key Metrics Changes - For the three months ended September 30, 2024, the company generated revenue of $5.3 million, representing a 78% increase over the previous quarter [18] - The cost of sales for the quarter was $4.9 million, resulting in a gross profit of approximately $460,000, or 8.6% of revenues [18] - SG&A costs declined by $630,000, or 12.1%, primarily due to reductions in professional fees and salaries [20] Business Line Data and Key Metrics Changes - Revenue was generated from the sale of 11 Type D all-electric school buses, 6 EV Star Cargo Plus, and 5 EV Stars, along with revenue from leases and parts sales [18] - The Truck Body division experienced negative gross profit margins due to lower throughput compared to prior periods, but management expects margins to improve as throughput increases [19] Market Data and Key Metrics Changes - The company has over 300 live orders and qualified leads for all-electric school buses, indicating strong demand in states like California and New York [9] - The medium heavy-duty market is new, with only 2 trades completed to date, contrasting with the light-duty sector where companies like Tesla have been trading credits for years [12] Company Strategy and Development Direction - The company aims to be opportunistic with federal programs while focusing on states with established policies for electric school buses [8] - The strategy includes increasing production capacity and improving manufacturing processes to enhance gross profit margins and reduce costs [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledges potential changes in federal programs but remains optimistic about opportunities in the medium and heavy-duty EV sector [7][31] - The company expects to see a step-up in deliveries each quarter, with advancements in manufacturing processes already underway [30] Other Important Information - The company completed an underwritten offering of 3 million common shares, raising gross proceeds of $3 million for production purposes [22] - The company continues to receive financial support from its directors and officers [22] Q&A Session Summary Question: What are the logistics of getting EPA funding for electric school buses? - The EPA contract is with the dealer, and the company is one step removed from the contract, indicating that the funding process is still a work in progress [24] Question: Can you update on the cab and chassis units in inventory? - The company is utilizing cab and chassis for production of both Nano BEAST and EV Star Plus, with plans to increase production to fulfill qualified leads [25][26] Question: Are there other companies recognizing tradable credits besides Tesla? - There are 24 manufacturers listed by California for medium and heavy-duty sales, but the company has not encountered any that have disclosed trading of credits [27][28]

"We are excited to be deploying this follow-on order to Washington University," said Claus Tritt, GreenPower's Vice President of Medium-Duty and Commercial Sales. "The University has been providing student transportation on campus for almost two years now with five EV Star Passenger Vans. The addition of 10 more all-electric, purpose-built, zero-emission GreenPower vehicles will allow the University to provide safe, sustainable and healthy transportation for its students, faculty, staff and visitors." The s ...

Shareholder Call Scheduled for November 15, 2024 at 10 a.m. EST/7 a.m. PSTVANCOUVER, BC, Nov. 14, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) ("GreenPower" and the "Company"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today reported its second quarter fiscal year 2025 results and provided an update on its manufacturi ...

VANCOUVER, BC, Oct. 30, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower" or the "Company"), a leading manufacturer and distributor of purpose-built, allelectric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced the closing of its previously announced public offering of 3,000,000 of its common shares at a public offering price of U.S. $1.00 per share, for gross proceeds ...