Lightning eMotors to again delay earnings release

LOVELAND — Electric-vehicle manufacturer Lightning eMotors Inc. (OTC: ZEVY) has pushed back the release of its third quarter earnings report by six days. 

The company, which has delayed earnings releases in the past and was delisted by the New York Stock Exchange last month, was expected to report its most recent financial results on Tuesday. Those results are now scheduled for release on Nov. 20.

“The change from our previously announced date is due to additional time required to finalize the company’s financial statements and related disclosures required to be included in the quarterly report,” the company said in a regulatory filing this week. 

Lightning has struggled financially since it went public through a special-purpose acquisition company merger in 2021. 

The company told shareholders in August that it is considering a sale of the company as it deals with cash flow and supply chain issues that have hampered its growth.

The NYSE the following month determined that Lightning’s stock would be delisted and trading was suspended after the company failed to lift the stock price over the exchange’s $1 minimum threshold. It also determined that the company was unable to maintain an average global market capitalization over a consecutive 30-trading-day period of at least $15 million.Lightning has since been traded on the over-the-counter market. Over-the-counter trading involves securities not listed on a major exchange but are instead traded using a broker/dealer network, usually because the company does not meet the requirements of a national exchange.

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