UK, the guidance was disappointing to me (reproduced below), siting "supply chain challenges." The projected number of delivery vehicles is abysmal, 65-75 in Q1 2022. Sold some of my shares today.
Guidance
We continue to experience supply chain challenges involving chassis and other key components. Delays associated with any of these components may impact the timing of revenue. Fortunately, our customers remain supportive, and we have not seen any order cancellations due to delivery timing. Based on current business conditions, the Company expects:
First quarter revenue to be in the range of $5.0 million to $6.0 million. Approximately $7 million of potential Q1 revenue has been pushed into future quarters due to supply constraints, principally chassis.
- First quarter vehicle and powertrain sales to be in the range of 65 units to 75 units
- First quarter adjusted EBITDA to be in the range of -$15 million to -$17 million
- Quarterly revenue to grow sequentially throughout 2022 as supply chain issues are managed and incremental revenue is realized from non-chassis-dependent products such as repowers and Lightning Energy