Envirotech Vehicles Q1 sales up 135% to $1.1M; net loss widens to $2.5M

Envirotech Vehicles, Inc.

Revenue $1,108,500 (vs $470,793) on 12 vehicle sales (vs 5); net loss $2,527,397 vs $658,510.
Operating expenses rose to $2.95M from $0.60M driven by growth investments; non-cash charges $1.63M.
Cash & equivalents $9.1M (down from $12.9M); working capital $21.0M, modestly lower.
Finished goods: 24 trucks and 100 vans; 100 trucks and 100 vans in production for Q2 deliveries.
First phase of new 580,000 sq ft Arkansas manufacturing facility completed.

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