Westport Fuel Systems Inc (WPRT) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Welcome to Westport Fuel Systems conference call regarding its first quarter 2025 financial and operational results. This call is being held to coincide with the press release containing Westport's financial results that were issued yesterday after market close. On today's call, speaking on behalf of Westport is Chief Executive Officer and Director Dan Selay and Chief Financial Officer Bill Larkin. Attendance on this call is open to the public, but questions will be restricted to the investment community. You are reminded that the statements made on this call and our responses to certain questions may constitute forward-looking statements within the meaning of the U.S. and applicable Canadian securities laws, and as such, forward-looking statements are made based on our current expectations and involve certain risks and uncertainties. With that, I'll turn the call over to you, Dan. Thank you, Ashley, and good morning, everyone. We continue to make meaningful progress in transforming Westport and sharpening our strategic focus. Our priorities do remain clear, driving success through Suspira, our HPDI joint venture with Volvo, pursuing operational excellence by streamlining operations and reducing costs, and positioning Westport as a leader in the shift to alternative fuels. These three pillars are guiding us toward a stronger future in Q1 2025, our efforts translated into measurable results. Reported revenue was 71 million for the quarter. In addition, Suspiria generated 16.7 million in revenue, which isn't reflected in our top line due to the equity method of accounting. When adjusting for our 55% ownership share, total revenue would have exceeded 80 million, higher than the 77.6 million reported in Q1, 2024. Net loss improved significantly $2...