Record Vehicle Shipments
Shipped 130 vehicles generating $16,500,000 in revenue, with an additional 10 strip chassis on the way to upfitters. This marks a significant increase in demand and scale.
Positive Non-GAAP Gross Margins
Achieved the ninth consecutive quarter of positive non-GAAP gross margins, marked at 16% for Q3 2025.
Strategic Partnership and Financial Restructuring
Amended repayment structure of the convertible note with Alger Mae Automotive, extending maturity to 2028, enhancing liquidity and strategic alignment.
Expansion into Powertrains and Energy Infrastructure
Delivered 18 powertrain systems to Bluebird Corporation with nearly 80 additional orders, signaling a strong market demand.
Strong Free Cash Flow
Generated positive free cash flow of $3,100,000 in Q3, marking the third time of being free cash flow positive since going public.
Improved Operating Loss
Recorded the lowest operating loss since going public at $7,000,000, showing strong cost management and discipline.