Business
GreenPower Reports Revenue of $8.5 million and Net Income of $4.2 million for Third Quarter
VANCOUVER, BC, Feb. 12, 2026 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) ("GreenPower" and the "Company"), a leading manufacturer and
About this update from Greenpower Motor Company Inc.
[{"type":"text","content":"VANCOUVER, BC, Feb. 12, 2026 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (\"GreenPower\" and the \"Company\"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today reported revenue of $8.5 million and net income of $4.2 million as a part of its financial results for the period ended December 31, 2025.\n \n \n \n \n \n \n \n\"Despite significant headwinds in the EV sector in general, GreenPower has made substantial strides with its transition from building EVs on spec., to a production strategy driven by building EVs to customer orders,\" said Fraser Atkinson, GreenPower Chairman and CEO. \"This transition has required recapitalization of the Company, retooling our manufacturing, managing inventory, and obtaining sources of production funding.\"\"GreenPower is very excited about the excellent progress in the deployment of all-electric, purpose-built school buses during the last quarter in New Mexico; Continuing to perform on the state sponsored, two-year, zero emissions school bus pilot project,\" said Brendan Riley, President of GreenPower. \"This project uses the compelling West Virginia pilot project as its model but is focussed on the specific needs of New Mexico school districts where there will be challenges on deploying in both city and rural settings, challenges with charging infrastructure and operating the school buses in extreme cold weather at high elevations.\"Third Quarter 2026 HighlightsGenerated revenues of $8.5 million in the third quarter of the 2026 fiscal year compared to $7.2 million for the third quarter in the previous year. Revenue was generated from the sale of vehicles, parts, leases and deferred income. Gross profit on the sale of vehicles was approximately 28%.Total sales, general and administrative costs of $2.4 million in the third quarter compared to $5.2 million for the third quarter in the previous year representing a significant reduction in the Company's recurring expenses. Excluding non-cash items, the sales, general and administrative costs in the current quarter were less than $2 million.Working capital of more than $5 million and increased cash from the beginning of the fiscal year.During the quarter the Company undertook ...