Vicinity Motor Corp. (V:VMC*CA)
Business Focus: Heavy Buses & Coaches
| Sector: Industrials | Industry: Heavy Machinery & Vehicles |
| See Regulatory Filings on SEDAR | |
| Company Contact | |
| Address: | 3168 262nd Street ALDERGROVE BC V4W 2Z6 |
| Tel: | 1-949-2594987 |
| Website: | https://vicinitymotorcorp.com |
| IR: | See website |
| Key People | ||
| William R. Trainer President, Chief Executive Officer, Director | Danial Buckle Chief Financial Officer | Manuel Achadinha Chief Operating Officer |
| John Lagourgue Vice President - Corporate Development, Director | Dennis Gore Vice President - Engineering | |
| Business Overview |
| Vicinity Motor Corp. is a Canada-based supplier of commercial electric vehicles for both public and commercial enterprise use. The Company is engaged in the production and sale of buses and spare parts in North America. It leverages a dealer network and close relationships with manufacturing partners to supply its flagship electric, compressed natural gas (CNG) and clean-diesel vicinity buses, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus. In addition, the Company sells its electric chassis alongside J.B. Poindexter business unit EAVX, which is the Company's partner, for upfitting into delivery vehicles. The Company's various buses and truck models include Vicinity Lightning EV, Vicinity Classic, VMC 1200, VMC Optimal S1LF and VMC Optimal E1. Its geographic segments include United Stated and Canada. The Company's subsidiaries include Vicinity Motor (Bus) USA Corp. and Vicinity Motor (Bus) Corp. |
| Financial Overview |
| For the nine months ended 30 September 2022, Vicinity Motor Corp revenues decreased 58% to $16.4M. Net loss increased from $2.5M to $14.1M. Revenues reflect Bus sales decrease of 67% to $12.2M. Higher net loss reflects Foreign exchange loss increase from $70K to $3.9M (expense), Sales and administration increase of 36% to $7.3M (expense), Amortization increase from $413K to $2M (expense). |
| Employees: | 53 as of Mar 30, 2021 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $51.56M as of Sep 30, 2022 |
| Annual revenue (TTM): | $13.90M as of Sep 30, 2022 |
| EBITDA (TTM): | -$11.96M as of Sep 30, 2022 |
| Net annual income (TTM): | -$23.58M as of Sep 30, 2022 |
| Free cash flow (TTM): | -$48.07M as of Sep 30, 2022 |
| Net Debt Last Fiscal Year: | $10.45M as of Sep 30, 2022 |
| Shares outstanding: | 45,667,706 as of Feb 27, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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