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GreenPower Motor (GP) AI Stock Analysis

GP

GreenPower Motor

(NASDAQ:GP)

Select Model
Rating:21Underperform
Price Target:$0.74â–¼(-26.40% Downside)
Action:downgraded
Date:11/03/26

GreenPower Motor scores at the low end of the range, driven primarily by a high-risk financial profile: a multi-year revenue decline, persistent losses, roughly 13x debt-to-equity leverage with a razor-thin equity cushion, and about $6M of annual operating cash burn that leaves the company reliant on outside capital. Technicals reinforce the concern, with the price far below all major moving averages and strongly negative MACD momentum; oversold RSI and Stochastic readings reflect capitulation rather than a confirmed turn. Valuation provides no offset given negative earnings and no dividend. The one constructive element is the sharp gross margin improvement and materially narrower net loss, but until revenue stabilizes and cash flow turns positive, the risk profile remains elevated.

Positive Factors
Standardized EV platformStandardized vehicle components can reduce maintenance complexity and simplify warranty support for fleet operators. This supports a more repeatable commercial-vehicle offering, potentially improving customer adoption and creating operating advantages as deployments expand across transit, shuttle, and school-bus markets.
Negative Factors
Excessive leverageDebt remains very high relative to the company’s small equity base, leaving limited financial flexibility. This capital structure increases refinancing pressure and could require additional equity funding, creating dilution risk while the business continues to work toward sustainable profitability.

GreenPower Motor (GP) vs. SPDR S&P 500 ETF (SPY)

-100%-80%-60%-40%-20%0%20%GP-91.14%SPY+13.13%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
$2.29M
Dividend Yield
―
Average Volume (3M)
370.99K
Price to Earnings (P/E)
-0.0
Beta (1Y)
1.17
Revenue Growth
-16.96%
EPS Growth
88.81%
Country
US
Employees
164
Sector
Industrials
Sector Strength
63
Industry
Auto - Manufacturers

GreenPower Motor Business Overview & Revenue Model

Company Description

GreenPower Motor Company Inc. manufactures and distributes electric commercial vehicles and transit, school, and charter buses in the United States and Canada. The company offers school bus, commercial goods, and commercial passenger line vehicles. I...

GreenPower Motor Earnings Call Summary

Earnings Call Date:Feb 13, 2025(Q3-2025)|% Change Since:-97.24%|Next Earnings Date:Feb 26, 2020
Earnings Call SentimentNeutral

The earnings call highlighted strong revenue growth and gross profit improvement driven by increased demand for electric school buses and operational efficiencies. However, challenges such as the performance of the truck body division, federal funding uncertainties, and increased SG&A expenses were noted.

Positive Updates

Revenue Growth
GreenPower Motor Company generated revenue of $7.2 million, a 35% increase over the previous quarter.

Negative Updates

Truck Body Division Challenges
The truck body division faced lower-than-target gross profit margins due to market overcapacity and lower demand.

Company Guidance

During GreenPower Motor Company's third-quarter earnings call, a number of key metrics and updates were provided. The company reported a revenue of $7.2 million, marking a 35% increase over the prior quarter, with a gross profit of approximately $1.05 million or 14.6% of revenues. This improvement was largely driven by sales of 13 BEAST Type D all-electric school buses, one Nano BEAST Type A school bus, and 14 EV Star model vehicles. GreenPower also highlighted its efforts to increase production output from its West Virginia facility, aiming for one BEAST per week, with plans to scale to two units per week by April. Additionally, they are consolidating their California operations into a single facility to enhance efficiency, which is anticipated to contribute to lower general and administrative expenses and improved gross profit margins over time. The company continues to leverage its EDC revolving credit facility and EDC-backed letters of credit to fund production, with $1.2 million in available liquidity and $3.9 million in capacity for additional letters of credit. Furthermore, GreenPower raised $3 million in an underwritten offering to support the production of all-electric vehicles and product development. The call also discussed the increasing demand for electric school buses, driven by health concerns and driver shortages, and the company's strategic focus on vehicle-to-grid options to enhance grid stability.

GreenPower Motor Financial Statement Overview

Summary

Very weak across all three statements. Revenue has more than halved since fiscal 2023 (to $15.3M TTM) and continues to shrink, and the company remains unprofitable with a TTM net margin near -33%. The balance sheet is severely stretched: roughly $19.3M of debt against just $2.3M of equity (about 13x leverage), with equity having briefly gone negative in fiscal 2025 and total assets down by half. Operating cash flow remains deeply negative at about -$6.1M TTM with no improvement trend, implying continued dependence on external financing. The only offsets are a sharp gross margin expansion to roughly 54-56% and a much narrower net loss, though the durability of that margin swing is uncertain.

Income Statement

23Negative

Balance Sheet

12Very Negative

Cash Flow

11Very Negative
Financial statement breakdown
BreakdownTTMJun 2026Jun 2025Mar 2024Jun 2023Jun 2022
Income Statement
Total Revenue16.39M16.39M19.85M39.27M39.70M17.24M
Gross Profit8.87M9.22M2.20M5.36M7.25M3.88M
EBITDA-1.85M-1.85M-14.82M-14.93M-12.27M-13.83M
Net Income-5.48M-5.48M-18.66M-18.34M-15.04M-15.01M
Balance Sheet
Total Assets30.69M30.69M35.07M45.20M63.57M49.61M
Cash, Cash Equivalents and Short-Term Investments328.09K328.09K344.24K1.15M600.80K884.78K
Total Debt20.14M20.14M19.93M16.80M15.15M5.89M
Total Liabilities29.14M29.14M36.68M33.64M35.89M15.22M
Stockholders Equity1.55M1.55M-1.61M11.57M27.68M34.39M
Cash Flow
Free Cash Flow-6.16M-6.18M-6.07M-1.49M-15.11M-20.88M
Operating Cash Flow-6.16M-6.18M-5.99M-1.13M-14.76M-20.34M
Investing Cash Flow11.69K11.95K-83.17K-761.53K303.19K-536.09K
Financing Cash Flow6.08M6.11M5.10M2.32M8.19M12.66M

GreenPower Motor Technical Analysis

Technical Analysis SentimentNegative
Last Price1.00

Price Trends

50DMA3.36Negative
100DMA5.35Negative
200DMA5.30Negative

Market Momentum

MACD-0.60Negative
RSI22.01Positive
STOCH3.40Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GP, the sentiment is Negative. The current price of 1.00 is below the 20-day moving average (MA) of 1.61, below the 50-day MA of 3.36, and below the 200-day MA of 5.30, indicating a bearish trend. The MACD of -0.60 indicates Negative momentum. The RSI at 22.01 is Positive, neither overbought nor oversold. The STOCH value of 3.40 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GP.

GreenPower Motor Risk Analysis

GreenPower Motor disclosed 35 risk factors in its most recent earnings report. GreenPower Motor reported the most risks in the "Finance & Corporate" category.

Higher RiskSector Avg.Lower RiskFinance & CorporateTech & InnovationLegal & RegulatoryProductionAbility to SellMacro & Political
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

0 New Risks

GreenPower Motor Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

GP against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
GPGP21Underperform$2.29M-0.01194.59%―-16.96%88.81%

* Industrials Sector Average

Performance Comparison

-80%-60%-40%-20%0%GPDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
GP and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
GPGreenPower Motor Company Inc.1.09-10.76-90.80%

GreenPower Motor Corporate Events

GreenPower Motor Faces Nasdaq Bid-Price Compliance Deadline After Share Slump

Oct 16, 2026

GreenPower Motor Company Inc., a Vancouver-based manufacturer of all-electric, purpose-built medium and heavy-duty vehicles, serves the cargo and delivery, shuttle and transit and school bus markets in North America. The company designs and builds bo...

GreenPower Motor Sets October 19 Effective Date for One-for-Five Share Consolidation

Oct 15, 2026

On October 15, 2026, GreenPower Motor Company announced that Nasdaq has approved a consolidation of its common shares on a one-for-five basis. The share consolidation will take effect at the opening of trading on October 19, 2026, with the company&#8...

GreenPower Motor Launches Mexico-Focused Plan for 50 EV Star All-Electric Shuttle Buses

Oct 13, 2026

On October 13, 2026, GreenPower Motor announced plans for an initial tranche of 50 all‑electric shuttle buses based on its EV Star Cab & Chassis platform, to be jointly developed with a new strategic partner that has secured more than $2.5...

GreenPower Motor Completes Fourth Tranche of Series A Preferred Financing

Aug 18, 2026

On August 18, 2026, GreenPower Motor Company announced it had completed the fourth tranche of its Series A Convertible Preferred Share financing under a private placement facility with an institutional investor. The company issued 1,500 preferred sha...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 02, 2026