Quarterly ResultJul 10, 2026, 05:02 PM
GreenPower Reports FY26 Loss of $(5.48)M; Going Concern Doubt
AI Summary
GreenPower Motor Company Inc. reported a reduced net loss of $(5.48) million for the fiscal year ended March 31, 2026, a significant improvement from $(18.66) million in the prior year. Revenue decreased to $16.39 million from $19.85 million, but gross profit increased substantially to $9.22 million. The company's financial statements include a going concern warning due to recurring losses and an accumulated deficit, with management planning to secure financing and improve operations. Additionally, GreenPower completed a 10-for-1 common share consolidation in September 2025 and secured a $5.35 million contract with the state of New Mexico.
Key Highlights
- FY26 Net Loss reduced to $(5.48)M from $(18.66)M YoY.
- FY26 Revenue decreased to $16.39M from $19.85M YoY.
- FY26 Gross Profit increased to $9.22M from $2.20M YoY.
- Loss per share improved to $(1.57) from $(6.77) YoY.
- Substantial doubt about ability to continue as a going concern.
- Cash balance at year-end was $328,086.
- Secured $5.35M contract with New Mexico state.
- Completed 10-for-1 common share consolidation in Sept 2025.
Price Impact
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