Lightning eMotors Stock Slides On Q4 Revenue Miss, Q1 Outlook Trailing Expectation

Lightning eMotors Inc ZEV reported fourth-quarter revenue growth of 13% year-over-year to $4.2 million, missing the consensus of $5.25 million.
EPS improved to $0.28 from $(0.42) in 4Q20, beating the consensus of $(0.19).
Adjusted net loss stood at $(20.05) million, compared to $(6.89) million in 4Q20.
The gross loss expanded to $(2.68) million from $(1.15) million in 4Q20. Loss from operations was $(18.16) million versus $(5.2) million.
Adjusted EBITDA loss widened to $(15.95) million from $(5.05) million a year ago.
ZEV’s net cash used in operating activities for FY21 totaled $65.81 million, compared to $16.23 million in FY20.
As of March 14, 2022, ZEV has an order backlog of ~1,500 units valued at $169.3 million. The company’s sales pipeline remains strong at $1.5 billion and is expected to grow further.
Lightning eMotors has partnered with Forest River for factory-certified Lightning repower powertrains supporting over 50,000 eligible Forest River Shuttle buses and Vans currently on the road.
1Q22 Guidance: Lightning eMotors expects revenue to be in the range of $5 million to $6 million, versus a consensus of $10.36 million, and adjusted EBITDA to be in the range of -$15 million to -$17 million.
ZEV states ~$7 million of potential Q1 revenue has been pushed into future quarters due to supply constraints, principally chassis.
It expects vehicle and powertrain sales to be in the range of 65 units to 75 units.
Price Action: ZEV shares are trading lower by 9.33% at $5.15 during the post-market session on Monday.

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Lightning eMotors Stock Slides On Q4 Revenue Miss, Q1 Outlook Trailing Expectation