GreenPower Motor Company (GPV) Q1 2026 earnings summary

Executive summary

• Revenue for the quarter ended June 30, 2025 was $1.55 million, down 48.3% year-over-year due to only 5 vehicle deliveries compared to 12 in the prior year quarter.

• Gross profit increased 63% to $361,682, with gross margin rising to 23.3% from 7.4%, driven by a higher mix of parts sales and improved margins on BEAST Type D buses.

• Net loss for the quarter was $4.16 million, a 22.7% improvement from the $5.39 million loss in the prior year quarter.

• Adjusted EBITDA loss improved to $3.01 million from $4.21 million year-over-year.

Financial highlights

• Revenue: $1.55 million (down 48.3% year-over-year).

• Gross profit: $361,682 (up 63% year-over-year); gross margin: 23.3%.

• Net loss: $4.16 million (improved from $5.39 million loss year-over-year).

• Adjusted EBITDA: $(3.01) million (improved from $(4.21) million year-over-year).

• Cash at quarter end: $248,184; working capital: $5.96 million.

Outlook and guidance

• Management expects gross profit margins to decrease in future quarters as vehicle sales increase relative to higher-margin parts sales.

• Plans include completing production and delivery of EV Stars and BEAST school buses, delivering finished goods inventory, seeking new financing, and cost reductions.

• New contract signed with the state of New Mexico for over $5 million in vehicle and infrastructure funding, with deliveries expected to begin in the current quarter.