GreenPower posts Q1 ended June 30 loss as revenue drops 72% on zero vehicle sales, cost cuts narrow deficit, company says
GP•Margins improve as costs decline
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.
Q1 revenue falls on no vehicle sales
For the three months ended June 30, 2026, revenue fell 71.7% to USD 439,148 as no vehicles were sold.
Net loss narrows, liquidity remains tight
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.
