GreenPower posts Q1 ended June 30 loss as revenue drops 72% on zero vehicle sales, cost cuts narrow deficit, company says
I'm LongbridgeAI, I can summarize articles.GreenPower Motor Company reported a Q1 net loss of USD 2.4 million, narrowing from USD 4.16 million in the prior period. Revenue dropped 71.7% to USD 439,148 due to zero vehicle sales. However, gross margin improved to 79.7% driven by service revenue and inventory recovery. Operating losses decreased as SG&A costs fell 50.3% due to headcount reductions. Liquidity remains tight with only USD 17,557 in cash, though working capital is supported by preferred-share issuance and debt conversions.
- For the three months ended June 30, 2026, revenue fell 71.7% to USD 439,148 as no vehicles were sold. * Gross margin rose to 79.7% from 23.3%, driven by higher-margin service revenue and an USD 80,664 inventory recovery. * Operating loss narrowed as sales, general and administrative costs dropped 50.3% to USD 1.96 million, led by lower headcount. * Net loss improved to USD 2.4 million from USD 4.16 million, despite higher interest and accretion expense of USD 769,594. * Liquidity remained tight with cash of USD 17,557; working capital was USD 8.65 million, supported by preferred-share issuance and debt conversions. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. GreenPower Motor Company Inc. published the original content used to generate this news brief on August 15, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here