GreenPower Motor Company Inc. reported third‑quarter 2026 results that turned a $3.6 million loss into a $4.2 million profit, with revenue rising to $8.5 million—an 18% year‑over‑year increase from $7.2 million in the same quarter of 2025.
Gross profit margin expanded to 28% from 14.6% in the prior year, while SG&A expenses fell to $2.4 million from $5.2 million, reflecting disciplined cost control and a shift to a customer‑order‑driven production model.
Revenue growth was driven by higher sales of purpose‑built electric school buses and commercial vehicles, supported by the New Mexico pilot program that secured over $5 million in state funding. The company’s focus on medium‑ and heavy‑duty EVs is beginning to generate positive cash flow.
GreenPower completed a recapitalization that closed two term loans totaling $5 million and converted related‑party debt into convertible debentures and Series B convertible preferred shares, strengthening its balance sheet.
Management noted that liquidity challenges and a Nasdaq delisting threat remain, but the positive earnings trajectory and margin improvement suggest the company is gaining traction in a competitive EV market.
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