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The Lion Electric Company (LEV) investor relations material
The Lion Electric Company Investor Presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Business overview
Specializes in all-electric medium and heavy-duty urban vehicles, with 14+ years of R&D and manufacturing experience and over 2,200 vehicles on the road, accumulating 32M+ miles.
Offers a full turnkey solution for fleet electrification, including vehicle selection, charging infrastructure, grants support, financing, training, maintenance, and telematics.
Manufacturing capacity includes 2,500 vehicles/year in St-Jerome, 2,500 vehicles/year in Joliet, IL, and 1.7 GWh battery production at Mirabel, QC.
Product lineup includes purpose-built electric school buses and medium/heavy-duty trucks, all designed and assembled in-house with proprietary technology.
Operates 12 experience centers across the U.S. and Canada to support customer transition to electric fleets.
Market and customers
Established leader in the all-electric school bus segment, with 1,900+ deliveries and an order book of 1,450+ school buses.
School bus electrification is supported by strong regulatory tailwinds, including the $5B EPA Clean School Bus Program and other major U.S. and Canadian incentives.
Order book as of November 6, 2024, includes 1,590 electric vehicles (~$420M), 1,455 all-electric buses, and 366 all-electric trucks, with a significant portion contingent on government subsidies.
Key clients include major school districts, public transit agencies, and large commercial fleets such as Amazon, DHL, CN, and Canada Post.
The company’s ability to convert its order book into sales is highly dependent on the timely granting of governmental subsidies and incentives.
Financial highlights
Q3 2024 revenue was $30.6M, down from $80.3M in Q3 2023; gross loss of ($16.0M) compared to a gross profit of $5.4M in Q3 2023.
Adjusted EBITDA for Q3 2024 was ($19.5M) and net loss was ($33.9M), both deteriorating from Q3 2023.
Delivered 89 vehicles in Q3 2024 (71 buses, 18 trucks), split almost evenly between Canada and the U.S.
Immediate liquidity stood at approximately $27M as of September 30, 2024, with inventory reduced by $35M year-to-date.
There is material uncertainty regarding the company’s ability to continue as a going concern, with ongoing efforts to raise additional funds and manage liquidity.
- TimeTickerHeadlineOpen
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Raising capital for global EV and AI expansion, with regulatory and dilution risks highlighted.
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