GreenPower Motor reports Q3 revenue $7.2M, consensus $6.11M

“GreenPower’s improved third-quarter performance, with $7.2 million in revenue – an increase of 35% over the previous quarter – underscores the demand for our purpose-built, all-electric vehicles. Importantly this growth also resulted in an improvement in our gross profit,” said Fraser Atkinson, CEO of GreenPower. “As we continue scaling our manufacturing operations, GreenPower is well-positioned to drive long-term growth and capitalize on the industry’s rapid shift toward zero-emission fleet solutions. At the end of the quarter we had available funding of more than $5 million consisting of cash, availability on loan facilities and ability to issue letters of credit to finance production of our growing order book.” Gross profit improved to 14.6% of revenue up from 8.6% for the previous quarter. 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.