- Proterra Inc (NASDAQ:PTRA) reported second-quarter FY21 sales growth of 39% year-on-year, to $58.50 million.
- Gross profit fell 43.9% Y/Y with a gross margin of 2.2%.
- Operating expenses increased to $31.06 million. The operating loss widened to $(29.7) million.
- Net loss widened to $(189.03) million, including a $130 million non-cash charge.
- The company held $762 million in cash and equivalents as of June 30, 2021.
- Adjusted EBITDA loss was $(21) million versus $(15.44) million last year. Loss per share was $(4.24).
- Battery production was 41 MWh for both productions of Proterra Transit’s electric buses and sales to Proterra Powered partners for integration into other vehicles.
- Outlook: Proterra affirmed FY 2021 revenue guidance of $246 million. It expects the gross margin to remain positive.
- Price Action: PTRA shares are trading lower by 5.16% at $11.4 in premarket on the last check Thursday.
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