SPEV
Shorepower Technologies Inc.0.0330
+0.0000+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
1.62MP/E (TTM)
-Basic EPS (TTM)
0.00Dividend Yield
0%Recent Filings
10-Q
10-Q
Q2 FY2025 results
Shorepower Technologies posted total revenue of $171,779 for the six months ended June 30, 2025, up 361.8% year-over-year from $37,199, fueled by new government contracts that boosted product sales to $120,591; yet quarterly revenue dipped to $7,122, down 78.7% from $33,361, as power usage and service lines softened. Gross margin climbed to $119,710 from $23,706, while operating expenses fell 16.2% to $185,688, trimming the operating loss to $65,978 from $198,008 and net loss to $99,964 from $233,810, with the gap to operating loss under 20%. Cash edged up to $23,261 on minimal operating outflow of $71, offset by $5,000 in related-party financing, against total debt of $1,906,739 mostly in long-term notes to CEO Jeff Kim at 6.42%-6.63%. No free cash flow disclosed in the 10-Q. Revenue hinges on two customers at 54.6% and 40.8%. Milestones from the 2023 merger loom unissued. Competition in EV infrastructure squeezes margins.
10-Q
Q1 FY2025 results
Shorepower Technologies swung to profitability in Q1 FY2025 ended March 31, 2025, posting net income of $5,891 versus a $117,527 loss a year earlier, fueled by revenue surging to $164,657 from $3,838 on new government contracts for product sales and services—up 4,193% y/y (derived). Gross margin flipped positive at $125,352 from a $8,806 loss, while operating income hit $22,732 against a $105,380 shortfall, though interest expense climbed 38.6% y/y to $16,841, narrowing the gap between operating and net results. Cash drained to zero from $18,332, with operating cash use at $18,332 versus $100,412 last year, amid total related-party debt steady at $1,045,453 (6.42%-6.63% rates, 10-20 year maturities) and a $111,395 demand note. No free cash flow disclosed, as capex absent. Two customers drove 97.6% of sales. Liquidity hangs by a thread.
10-K
FY2024 results
Shorepower Technologies posted FY2024 revenue of $65,121, up 225.6% from $20,109 in 2023, driven by product sales surging to $50,479 while services added $14,642; yet gross margins stayed negative at ($12,705) amid higher costs. Operating loss narrowed to ($430,489) from ($552,361), with net loss shrinking 28.9% to ($450,318) or ($0.01) per share on 48.5 million diluted shares—no anti-dilution flagged. Cash burn eased to $154,046 used in operations, but ended at a thin $18,332 after repaying $113,245 in related-party debt, underscoring liquidity strains. No quarterly breakdowns disclosed in the 10-K. Grants bolstered $50,000 in income for battery tech. Going concern doubts loom large.
10-Q
Q3 FY2024 results
Shorepower Technologies posted Q3 revenue of $15.4K, up sharply from $3.7K a year ago, driven by product sales kicking in while service revenue dipped; yet gross margin stayed negative at -$14.9K, reflecting high costs outpacing gains. For the nine months, revenue climbed to $52.8K from $19.9K y/y, with a $50K grant boosting the top line, but operating losses narrowed to $308.1K from $483.1K as G&A expenses dropped after ditching stock-based payouts. Net loss improved to $311.0K y/y, mainly from lower interest and that grant offset, though it outpaced operating loss due to interest expense. Cash dwindled to $19.4K after $153K used in operations, offset by repaying $113K in related-party debt at 6.4-6.6% rates maturing in 10-20 years; no revolver or covenants noted. The merger with Shurepower closed in March 2023 for stock consideration, recognizing no goodwill but adding 60 TSE facilities across 31 states. Competition from bigger electrification players could squeeze margins further.
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