Tue, Apr 15, 9:38 PM (5 days ago)
**Envirotech Vehicles, Inc. (EVTV)** **Summary:** Envirotech Vehicles, Inc. (EVTV) is a provider of purpose-built zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. The company serves commercial and last-mile fleets, school districts, public and private transportation service companies, and colleges and universities to meet the increasing demand for light to heavy-duty electric vehicles. EVTV's vehicles address the challenges of traditional fuel price instability and local, state, and federal regulatory compliance. **Financial Performance:** - **Revenue:** $1.9 million for the year ended December 31, 2024, compared to $2.9 million for the year ended December 31, 2023. - **Net Loss:** $8.8 million for the year ended December 31, 2024, compared to $12.7 million for the year ended December 31, 2023. - **Gross Margin:** 26% for the year ended December 31, 2024, compared to 35% for the year ended December 31, 2023. - **Operating Expenses:** $8.4 million for the year ended December 31, 2024, compared to $13.7 million for the year ended December 31, 2023. **Strategic Overview:** EVTV's strategy includes building VSP fleet sales, developing sales staff, building dealership and service networks, developing third-party relationships, providing demonstrations, obtaining approvals from incentive programs, growing manufacturing, installation, and service capability, expanding technical support capabilities, and introducing new products and platforms. **Future Outlook:** EVTV plans to capitalize on opportunities by pursuing key strategies such as building VSP fleet sales, developing sales staff, building dealership and service networks, developing third-party relationships, providing demonstrations, obtaining approvals from incentive programs, growing manufacturing, installation, and service capability, expanding technical support capabilities, and introducing new products and platforms. **Risk Factors:** EVTV faces several risk factors, including dependence on external sources for financing, competition, sales cycle unpredictability, technological advancements, market volatility, regulatory changes, supply chain disruptions, and intellectual property risks. **Financial Condition:** As of December 31, 2024, EVTV had cash and cash equivalents of $0.2 million and working capital of $5.9 million. The company believes that its existing cash, cash equivalents, and short-term investments will be sufficient to fund its present operations during the next 12 months and beyond. However, the company may not successfully execute its business plan, and if it does not, it may need additional capital to continue its operations and support the increased working capital requirements associated with the fulfillment of purchase orders. **Market Position Changes:** EVTV's market position is subject to changes due to competition, technological advancements, regulatory changes, and market volatility. The company's ability to compete successfully in its industry will be fundamental to its future success in existing and new markets and to its overall market share.