GreenPower Provides Business Update and Reports Third Quarter Fiscal 2025 Results

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$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].