Lightning eMotors posts $27.43M loss in final pre-public quarter but touts sales backlog

LOVELAND — Lightning eMotors Inc. (NYSE: ZEV) had a net loss of more than $27.43 million in the first quarter of 2021 before it went public last month but expects sales to reach between $50 million and $60 million by the end of the year.

The Loveland-based Lightning generated nearly $4.6 million in revenue during the period by selling 31 vehicles, compared with $695,000 in the same period last year. The company reported a first-quarter loss from operations of $5.3 million, up from $2.6 million a year ago.

Lightning makes electric engines and transmissions that replace gas-powered powertrains on buses and…