Lightning eMotors reports less revenue, higher loss in Q1
LOVELAND — Lightning eMotors Inc., (NYSE: NEV) a provider of electric powertrains and medium-duty and specialty commercial electric vehicles, saw less revenue in the first quarter of 2023 than it saw in the same quarter a year prior and also a higher loss.
The Loveland-based company also signed an agreement with Yorkville Advisors Global LP for a $50 million pre-paid advance agreement, or PPA, to provide cash for expansion.
Results from the first quarter, which ended March 31, show revenue of $1.3 million, compared with $5.4 million in the same quarter of 2022. The net loss for the quarter was $23.4 million,…
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