Core Points - The Infrastructure Investment and Jobs Act (IIJA) funded Round 2 of the Clean School Bus Program (CSBP), awarding $18.565 million to seven West Virginia school districts for 50 all-electric school buses manufactured by GreenPower [1] - GreenPower has successfully delivered the first four BEAST school buses within 90 days of the contract signing with the EPA, emphasizing the importance of timely delivery for the safety and health of students [2] - The company is the only all-electric Original Equipment Manufacturer (OEM) in the U.S. that produces both Class 4 Type A and Class 8 Type D school buses, showcasing its leadership in the electric school bus market [3] Funding and Delivery - The delivery of school buses was briefly paused due to a spending freeze by the Trump Administration, but was resumed thanks to the efforts of Senator Shelley Moore Capito and the EPA [2] - The Round 2 grant funding is seen as a well-structured approach to allocate resources effectively, involving multiple stakeholders in the planning process [2] Product Specifications - The BEAST is a 40-foot Type D all-electric school bus with a capacity of up to 90 students, featuring a corrosion-resistant aluminum body and a high-strength steel chassis [3] - The Nano BEAST, an award-winning model, has a standard 118 kWh battery pack and a range of up to 140 miles, designed for up to 24 passengers [4] Company Overview - GreenPower designs and manufactures a range of all-electric vehicles, including school buses, with a focus on zero emissions and battery-powered solutions [6] - The company was founded in Vancouver, Canada, and has operational facilities in southern California, with a public listing on the Toronto exchange since November 2015 and a NASDAQ listing since August 2020 [6]

VANCOUVER, BC, March 14, 2025 /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 announced its annual stock option grant to the Directors, Officers, Employees and Consultants. The Company granted 525,000 incentive stock options to the four Independ ...

Core Points - GreenPower Motor Company has entered into a sales agreement with Roth Capital Partners to establish an at-the-market equity program allowing the issuance of up to US$850,000 of common shares [1] - The proceeds from the sales will be used for the production of all-electric vehicles, including BEAST school buses and EV Star commercial vehicles, as well as for product development and general corporate purposes [1] - The ATM Program is conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission [3] Company Overview - GreenPower designs, builds, and distributes a full suite of all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans [5] - The company employs a clean-sheet design approach to manufacture vehicles that are purpose-built to be battery-powered with zero emissions [5] - GreenPower was founded in Vancouver, Canada, and has primary operational facilities in southern California [5]

Company Update - GreenPower Motor Company Inc. is a manufacturer and distributor of all-electric, zero-emission medium and heavy-duty vehicles, focusing on cargo, delivery, shuttle, transit, and school bus markets [1][4] - The company has appointed RedChip Companies, Inc. as its Investor Relations Representative, with a monthly fee of US $10,500 for services including investor marketing and communication [2] Compliance Notice - On February 27, 2025, GreenPower received a notice from Nasdaq indicating that its share price has been below the minimum requirement of $1 per share for 30 consecutive business days, resulting in non-compliance with Nasdaq Listing Rules [3] - GreenPower has 180 calendar days to regain compliance by closing above $1 per share for 10 consecutive trading days, with a potential extension of an additional 180 days if certain conditions are met [3]

Financial Data and Key Metrics Changes - For the three months ended December 31, 2024, GreenPower generated revenue of $7.2 million, a 35% increase over the previous quarter [24] - The cost of sales for the quarter was $6.2 million, resulting in a gross profit of approximately $1.05 million or 14.6% of revenues [24] - Sales, general and administrative expenses declined by $443,000 or 7.8% compared to the same quarter last year [27] Business Line Data and Key Metrics Changes - Revenue was generated from the sale of 13 BEAST Type D all-electric school buses, one Nano BEAST Type A school bus, and 14 EV Star model vehicles, along with revenue from leases and parts sales [25] - Gross profit improved due to contributions from BEAST and Nano BEAST sales in California and Oregon, partially offset by lower margins from the truck body division and new manufacturing operations in West Virginia [25] Market Data and Key Metrics Changes - Demand for all-electric school buses is at an all-time high, with a survey indicating that 65% of parents prefer electric school buses over diesel [10] - The school bus driver shortage is driving demand for electric school buses, as they are seen as a solution to attract and retain drivers [11] Company Strategy and Development Direction - GreenPower is focusing on B2G (business-to-government) vehicle-to-grid options, positioning electric school buses as a means to enhance grid stability [12] - The company is consolidating its California operations into a single facility to improve efficiency and reduce costs [20][26] - GreenPower aims to increase production output at its West Virginia facility, with plans to deliver one BEAST per week and ramping up to two units per week by April [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving gross profits as production ramps up at the West Virginia facility [8] - The company is closely monitoring federal funding opportunities, with some dealers successfully accessing funds from the Clean School Bus Program [36] - There is strong support for electric school buses in California and New York, with significant funding available for adoption [38] Other Important Information - GreenPower completed an underwritten offering of 3 million common shares, raising gross proceeds of $3 million for production and development [29] - The company continues to utilize EDC revolving credit facilities to fund production, with approximately $1.2 million in available liquidity at quarter-end [28] Q&A Session Summary Question: Can you comment on the opportunities for fiscal support for your customers? - Management noted that federal funding is fluid, but some dealers have successfully drawn down funds from the Clean School Bus Program. State-level funding in California and New York remains strong [36][38] Question: Can you explain the increase in general and administrative expenses? - The increase was primarily due to headcount, but management anticipates reductions in salary expenses over time due to consolidation efforts [42] Question: How many electric school buses are currently in operation? - GreenPower has delivered about 10 out of 100 vehicles from West Virginia, with plans to ramp up deliveries. Customer feedback has been positive [63][64] Question: What drives throughput in the truck body division? - The truck body division is primarily focused on third-party vehicles, and the consolidation of operations is expected to improve efficiencies and throughput [70][72]

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].

"We are excited to receive an additional order from TCI," said Claus Tritt, GreenPower's Vice President of Medium-Duty and Commercial Sales. "The company has been operating four GreenPower all-electric vehicles since 2021, serving their customer's needs without interruption or downtime. This follow-on order reflects the certainty that operating a GreenPower purpose-built vehicle provides to fleet managers who desire a zero-emission option to reduce their overall carbon footprint." "We've selected GreenPower ...