GreenPower Motor Company (GPV.V) Q1 2025 Earnings Report

GreenPower Motor Company continues to operate with a pronounced top-line decline in QQ1 2025, reporting revenue of $2.997 million, down 80.5% year over year and 40.9% quarter over quarter. The gross margin remained thin at 7.40%, generating a gross profit of $0.222 million, but the company booked an overall operating loss of $4.906 million and a net loss of $5.389 million, driven by elevated SG&A and operating expenses that far outpaced revenue. Cash burn persisted, with operating cash flow at $(3.212) million and free cash flow of $(3.258) million for the quarter, contributing to a total cash position of $0.528 million at period end and a net debt position of roughly $(17.06) million, underscoring material liquidity and leverage risks.

Despite a QoQ improvement in EBITDA/operating metrics relative to the prior quarter, the business remains in a high- burn phase as it scales its product lineup and expands commercial reach. Management commentary is not captured in the available transcript data for QQ1 2025, limiting the ability to quote management viewpoints directly in this summary. The lack of formal forward guidance in the QQ1 release adds to the uncertainty around near-term liquidity and revenue trajectory.

Looking ahead, the company faces a fragile near-term liquidity profile, but potential upside exists if production ramp, contract wins, and fleet modernization cycles accelerate in the U.S. and Canada, supported by favorable incentives for electric commercial fleets. Investors should monitor cash burn, ability to finance ongoing operations, and any new orders or partnerships that could translate into meaningful topline improvement.