Vicinity Motor Corp. (V:VMC)
Business Focus: Heavy Buses & Coaches
| Sector: Industrials | Industry: Heavy Machinery & Vehicles |
| Company Contact | |
| Address: | 3168 262nd Street ALDERGROVE BC V4W 2Z6 |
| Tel: | 1-949-2594987 |
| Website: | https://vicinitymotorcorp.com |
| IR: | See website |
| Key People | ||
| Brent Phillips President | William R. Trainer Chief Executive Officer, Director | Danial Buckle Chief Financial Officer | John Lagourgue Vice President of Sales and Corporate Development, Director |
| Business Overview |
| Vicinity Motor Corp. is a Canada-based supplier of electric vehicles for both public and commercial enterprise use. The Company is engaged in the production and sale of buses and spare parts in North America. It leverages a dealer network and close relationships with manufacturing partners to supply its flagship electric, compressed natural gas (CNG) and clean-diesel vicinity buses, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus. In addition, the Company sells its electric chassis alongside J.B. Poindexter business unit EAVX, which is the Company's partner, for upfitting into delivery vehicles. The Company's various buses and truck models include Vicinity Lightning EV, Vicinity Classic and VMC 1200. Its geographic segments include United Stated and Canada. The Company's subsidiaries include Vicinity Motor (Bus) USA Corp. and Vicinity Motor (Bus) Corp. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Vicinity Motor Corp revenues increased 3% to $19.1M. Net loss decreased 7% to $16.6M. Revenues reflect Canada (Country) segment increase of 25% to $16.7M. Lower net loss reflects Foreign exchange (gain) loss increase from $3.3M (expense) to $1.7M (income), Amortization decrease of 66% to $862K (expense). Basic Earnings per Share excluding Extraordinary Items increased from -$0.45 to -$0.36. |
| Employees: | 53 as of Mar 30, 2021 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $91.04M as of Dec 31, 2023 |
| Annual revenue (TTM): | $26.02M as of Dec 31, 2023 |
| EBITDA (TTM): | -$10.88M as of Dec 31, 2023 |
| Net annual income (TTM): | -$22.72M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$37.01M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $48.68M as of Dec 31, 2023 |
| Shares outstanding: | 45,667,706 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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