Envirotech Vehicles Q1 2024: Revenue up 55% to $810K; net loss widens to $4.5M ($0.29/share)

Envirotech Vehicles, Inc.

Revenue $810,490, up ~55% YoY from $523,199.
GAAP net loss $4,532,363 ($0.29 per share) vs $2,267,908 ($0.15) in Q1 2023.
Adjusted net loss $1,144,053 ($0.07/share) improved from $2,180,764 ($0.14); adjusted EBITDA ($1,098,698) vs ($2,183,933).
Cash $1,049,357; working capital $8.15M as of March 31, 2024.
Awarded 25 electric school buses from EPA funding; progressing on Arkansas facility and Philippines Clark facility.

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