Exro Technologis Stock Price, News & Analysis

Exro Technologies (EXROF) has provided updates on key milestones related to its US$30 million credit facility announced in May 2025. The company has received an initial US$2 million draw after meeting first milestones. Exro's Board approved the 2025 operating plan and 13-week cash flow forecast. The company engaged Cantor Fitzgerald as exclusive financial advisor for strategic review. Progress continues on converting C$15 million in outstanding Convertible Debentures. The next credit facility advance has been approved pending documentation. Exro is on track to wind up Australian subsidiaries by June 2025 as part of restructuring efforts to focus on North American commercial programs.

Exro Technologies (EXROF) has secured a US$30 million senior secured loan facility from a long-term institutional shareholder. The facility will be disbursed in milestone-based tranches, with an initial US$2 million expected on May 20, 2025. The company will issue warrants for up to 75 million common shares at a nominal price. Exro is seeking consent from holders of C$15 million in Convertible Debentures to postpone their security position, or alternatively may redeem the debentures for shares. The company has also initiated a strategic review process with an independent advisor to evaluate partnerships, restructuring, and M&A opportunities. Additionally, Exro announced the wind-down of its Australian subsidiary to focus on core markets and improve capital efficiency.

Exro Technologies (EXROF) reported Q1 2025 financial results, showing revenue of $4.4 million from 23 electric propulsion units and services, up from $87,828 in Q1 2024. The company posted a net loss of $23.5 million ($0.04/share), wider than the $12.9 million loss in Q1 2024. Gross profit was negative $2.3 million, though showing improvement from previous quarters. The company faces financial challenges with only $0.76 million in cash and a $7.0 million working capital deficit. Key developments include continued integration with a third commercial EV platform, advancing partnerships with Stellantis and other OEMs, and a 19% workforce reduction. Post-quarter, Exro secured an additional US$4.0 million in funding and announced the strategic wind-down of its Australia subsidiary to focus on core markets.

Exro Technologies (TSX: EXRO), a power control solutions provider for electric vehicles and energy storage, has issued a statement responding to recent unusual trading activity in its shares. The company confirmed that there are no undisclosed material changes to its business or operations that would explain the recent increase in share price and trading volume.

The company reiterated that it continues to explore financing alternatives to support its business plan while maintaining focus on executing its strategic initiatives.

Exro Technologies (OTCQB: EXROF) reported its Q4 and full-year 2024 results, achieving record annual revenue of $23.1 million, driven by the delivery of 153 e-propulsion systems. The company completed its merger with SEA Electric and implemented significant cost reductions, exceeding its savings target with over US$15 million in annualized savings.

The workforce optimization reduced employee count from 266 to approximately 130, cutting payroll expenses by more than 50%. Key operational highlights include an innovation program with Stellantis for Coil Driver™ in passenger vehicles, a new powertrain pilot with a major commercial vehicle OEM, and ETL Certification for the Cell Driver™ battery storage system.

However, due to market uncertainty related to U.S. incentives and regulatory changes, Exro has withdrawn its 2025 revenue guidance. The company is actively seeking financing alternatives, having received support from an existing investor while evaluating additional funding options.

Exro Technologies (TSX: EXRO, OTCQB: EXROF) has released its 2025 shareholder letter, highlighting progress in commercial vehicle and passenger vehicle sectors. The company reports ongoing success with Coil Driver™ pilot programs and has secured an additional paid pilot program with a top OEM, targeting production for 2026.

The company continues development with Stellantis and other OEM partners under NDA in the passenger vehicle sector, focusing on both battery-electric and hybrid applications. Exro's energy storage sector is gaining momentum, with projects scheduled for delivery in 2025. The company announced that Tony Fairweather, former SEA Electric founder, has resigned from the board following the April 2024 merger.

Management is focused on achieving profitability, enhancing the balance sheet, and implementing organizational improvements. The company plans to provide funding solutions updates before the end of Q1.

Exro Technologies (TSX: EXRO, OTCQB: EXROF) has announced its decision to settle semi-annual interest payments on its outstanding convertible debentures through the issuance of common shares. The company will issue 6,407,141 common shares at a deemed price of $0.14 per share to settle the C$897,000 interest payment due on its C$15,000,000 secured convertible debentures. The debentures, issued on December 30, 2022, carry a 12% annual interest rate with semi-annual payments. Currently, there are 14,950 debenture units outstanding. The share issuance is subject to regulatory approvals, including Toronto Stock Exchange approval.

Exro Technologies (TSX: EXRO, OTCQB: EXROF) has successfully completed the installation of its first Cell Driver™ Battery Energy Storage System at Red Deer Polytechnic (RDP). The system, installed by Exro's subsidiary Cellex Energy, integrates with a 1.6-megawatt rooftop solar system and a one-megawatt Combined Heat and Power Unit at RDP's Energy Innovation Centre.

The installation serves as a demonstration project for implementing clean energy technologies in commercial buildings and will be part of RDP's Energy Living Lab. The system aims to help lower energy costs and improve operational efficiency for commercial and industrial users. RDP's research staff and students will assess the system's capabilities, particularly focusing on its performance in Alberta's cold winter climate.

Exro Technologies (TSX: EXRO, OTCQB: EXROF) has announced its participation in The Benchmark Company's 13th Annual Discovery One-on-One Investor Conference, scheduled for December 11, 2024, in New York City. The conference provides a platform for emerging growth companies to connect with institutional and individual investors through one-on-one meetings.

During the conference, Exro will discuss its proprietary motor-control and electric propulsion system technology currently being delivered to blue-chip automotive OEM customers. The company will also share insights about strategic initiatives planned for 2025 and beyond. The Benchmark Company, established in 1988, is a New York-based firm specializing in sales trading, investment banking, strategic advisory services, and equity research.