Cash And DebtFollowing a capital raise of $2.3M in May and forecast for a F1Q25 cash burn of $1.5M, GP ended F1Q25 with $1.0M of cash and $11.3M of debt.
Financial PerformanceGP had a wider EBITDA loss than expectations, wrote down inventory by 1.5%, increased its allowance for doubtful accounts, and after the end of F4Q24, took possession of six previously leased vehicles.
RevenueRevenue of ~$3M, which was below consensus of ~$4.9M pointing to an adjusted EBITDA loss during the quarter of ~$4.2M.