GreenPower Motor Company Inc. reported financial results for the third quarter of fiscal year 2026, generating $8.5 million in revenue and net income of $4.2 million. The Company also disclosed subsequent recapitalization transactions including $5 million in term loans and the conversion of related party loans into convertible debentures and preferred shares.
Key takeaways
Generated revenue of $8.5 million for the three months ended December 31, 2025, compared to $7.2 million for the same period in the prior year.
Reported net income of $4.2 million (basic and diluted EPS of $1.32) for the quarter, a turnaround from a net loss of $4.7 million in the prior year quarter.
Subsequent to quarter end, closed two term loans totaling $5 million with family offices to repay the Bank of Montreal line of credit.
Converted $7 million of related party loans into convertible debentures and $2.85 million of related party loans into Series B Convertible Preferred Shares.
Raised gross proceeds of $1,120,050 from the issuance of Series A convertible preferred shares during the quarter.
Reported a working capital position of $5,762,176 and cash balance of $675,950 as of December 31, 2025.