GreenPower Motor Company Inc. (NASDAQ:GP) Q4 2022 Earnings Conference Call July 8, 2022 10:30 AM ET
Company Participants
Michael Sieffert - Chief Financial Officer
Fraser Atkinson - Chief Executive Officer
Brendan Riley - President
Conference Call Participants
Tate Sullivan - Maxim Group
Greg Lewis - BTIG
Steve Emerson - Emerson Investment Group
Operator
Good day and welcome to the GreenPower Corporate Update and 2022 Fiscal Year End Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Michael Sieffert, Chief Financial Officer. Please go ahead, sir.
Michael Sieffert
Thank you. This is Michael Sieffert, the Chief Financial Officer of GreenPower Motor Company. I would like to welcome everyone to our call to discuss GreenPower’s corporate update and financial results for the period ended March 31, 2022. I am here today with our Chief Executive Officer, Fraser Atkinson; and our President, Brendan Riley.
During today’s call, we may make comments or statements about our future expectations, plans and prospects, which may constitute forward-looking statements for the purposes of the Safe Harbor provision under the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in our annual results and MD&A filed on SEDAR and on EDGAR.
In addition, these forward-looking statements relate to the date on which they are made. We anticipate that subsequent events and developments may cause the company’s views to change. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Also, during the course of today’s call, we may refer to certain non-IFRS financial measures. Reconciliation of these non-IFRS measures can be found in our MD&A filed on SEDAR and on EDGAR and is also located on our website at www.greenpowermotor.com.
I will now provide a brief summary of our results for the year ended March 31, 2022. Recorded revenues of $17.2 million for the year ended March 31, 2022 represented an increase of over 30%, with restated revenue of $13.3 million for the previous fiscal year. Revenue for the year was generated from the 93 vehicle sales, including 18 BEAST school buses, 11 EV Stars, 4 EV Star Plus and 21 EV Star CCs as well as 1 EV Star and 10 EV Star CCs for which we provided lease financing and 28 EV Stars, which had previously been on lease and these leases were canceled and the vehicle subsequently sold.