GREENPOWER MOTOR Co INC.
GP · Truck & Bus Bodies · EDGAR filings ↗
Grade
D44Going-concern EV bus manufacturer with collapsing revenue, deep losses, and a shareholders' deficit.
Strengths
- Some product revenue base and government voucher program eligibility
- Net loss narrowed modestly year over year
Risks
- Explicit going concern, shareholders' deficit, only $1.15M cash (8th pct)
- Gross margin 13.6% (14th pct), net margin -47%, ROE -159%; revenue fell ~49% in FY2025
Notable findings
- No interest coverageInterest coverage -11.52 (cannot cover interest)
- Going concernBased on these factors, the Company's ability to achieve its business objectives is subject to material uncertainty which casts substantial doubt upon the Company's ability to continue as a going conc
- Net lossNet loss (net margin -46.7%)
- Cash burnNegative free cash flow (-1.5M)
Key metrics
Gross margin
13.6%
Operating margin
-45.6%
Net margin
-46.7%
Return on equity
-158.6%
Return on assets
-40.6%
Revenue growth (QoQ)
-1.1%
Interest coverage
-11.5×
Current ratio
1.7×
Free cash flow
-$1M
Tangible book value
$12M
Cash & investments
$1M
Cash runway
3q
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-07-31 | 2025-03-31 | 0001062993-25-013312 ↗ |
| 20-F | 2024-07-01 | 2024-03-31 | 0001062993-24-013172 ↗ |
| 20-F | 2023-07-24 | 2023-03-31 | 0001062993-23-015179 ↗ |
| 20-F | 2022-07-29 | 2022-03-31 | 0001062993-22-016911 ↗ |
| 20-F | 2021-06-29 | 2021-03-31 | 0001062993-21-006050 ↗ |
| 20-F | 2020-07-21 | 2020-03-31 | 0001062993-20-003425 ↗ |