The following is a summary of the Vicinity Motor Corp. (VEV) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Vicinity Motor Corp. reported Q4 revenue of $5.1 million, a significant increase from $2 million for the same period in 2022, primarily due to the sale of 11 buses.

• Q4 gross loss improved to $0.4 million or negative 9% of revenue compared to a gross loss of $0.6 million, or negative 28% of revenue, in Q4 2022.

• Net loss in Q4 2023 was $9.1 million, or negative $0.20 per share, compared to a net loss of $3.8 million, or negative $0.08 per share, in Q4 2022.

• Cash and cash equivalents as of December 31, 2023 totaled $2 million.

Business Progress:

• In Q4 2023, Vicinity focused on expanding their VMC 1200 dealership network in Canada, delivering electric trucks and transit buses.

• 11 transit buses were sold and 71 additional VMC 1200 electric trucks were invoiced to dealership customers, expected to be recognized in H1 2024.

• Several new VMC 1200 dealership partners were announced in Canada.

• Vicinity, in partnership with ADASTEC, created an automated version of the Vicinity Lightning EV transit bus, with initial deployments planned for mid-2024.

• The company reported a robust order backlog exceeding US$125 million as of December 31, 2023, with increasing production to meet demand.

More details: Vicinity Motor IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.