Author: sHq_LoGiNz

CALGARY, AB, May 15, 2025 /PRNewswire/ – Exro Technologies Inc. (TSX: EXRO) (“Exro” or the “Company”), a leading technology company specializing in power control solutions for electric vehicles and energy storage, today announced its financial results for the first quarter ended March 31, 2025.

Q1 2025 Highlights

• Revenue of $4.4 million from delivery of 23 electric propulsion units and aftersales services.
• Continued integration of Coil Driver™ technology with a third commercial EV platform.
• Strategic engagements advanced with Stellantis and two additional global automotive OEMs.
• Workforce reduced by 19% and cost optimization initiatives began to deliver gross margin improvements.

“During the first quarter, Exro made meaningful progress executing against its commercialization roadmap,” said Exro CEO Sue Ozdemir. “We continued propulsion system deliveries to our commercial vehicle OEM customers, advanced new OEM programs, and began realizing the benefits of targeted cost reductions and margin improvements. With the electrification market continuing to evolve, we remain focused on disciplined execution, strategic capital deployment, and delivering long-term value.”

Financial Results

Revenue for Q1 2025 totaled $4.44 million, compared to $87,828 in Q1 2024. This increase reflects the Company’s transition from technology validation to commercial deliveries.

Gross profit, excluding amortization, was negative $2.3 million, an improvement from prior quarters, driven by early cost reductions, inventory efficiencies, and product mix optimization. Gross margin per unit improved significantly compared to Q4 2024, continuing the trend toward profitability.

Net loss from continuing operations was $23.5 million (or $0.04 per share), compared to a loss of $12.9 million (or $0.08 per share) in Q1 2024. The increase in loss is primarily attributable to non-cash charges, including $7.4 million in depreciation and amortization and $3.8 million in interest expense related to senior secured debt and convertible notes.

As of March 31, 2025, the Company held $0.76 million in cash and reported a working capital deficit of $7.0 million. Operating cash flow was negative $11.5 million, reflecting the scaling of commercial operations.

Strategic and Operational Update

• Exro is delivering propulsion units to two of the top five commercial vehicle OEMs in North America and remains in advanced discussions with two others.
• The Company is pursuing an additional OEM contract for 2026 production.
• An additional 20% reduction in bill-of-materials costs is targeted by year-end.
• Additional Cell Driver™ pilot deployments are scheduled across North America.
• Following quarter-end, Exro is continuing to explore viable funding opportunities to support its business plan. The Company received US $4.0 million ($5,615,510) in additional funding from its existing senior secured creditor.

Strategic Wind-Down of APAC Subsidiary

As part of its focus on core markets and capital efficiency, Exro has initiated an orderly wind-down of its Australia-based subsidiary. Legal counsel has been retained, and the Company is working to resolve all lease, employment, and regulatory matters. This strategic decision supports the Company’s ongoing focus on cost reductions and reallocation of resources to high-impact markets with stronger commercial traction and more efficient capital deployment.

Outlook

While macroeconomic conditions continue to affect the broader automotive sector, Exro remains confident in the long-term demand for cost-efficient electrification solutions.

ABOUT EXRO TECHNOLOGIES INC.

Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading technology company that has developed new-generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive^®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. 

For more information visit our website at www.exro.com.

To view our Corporate Presentation visit us at www.exro.com/investors

Visit us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company’s annual information form for the financial year ended December 31, 2024, and financial statements and related MD&A for the financial year ended December 31, 2024, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.

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SOURCE Exro Technologies Inc.

FONTANA, Calif., May 15, 2025 /PRNewswire/ — Bar None Auction opened its third location in the Western United States, adding Fontana, CA to existing sites in Sacramento, CA and Woodburn, OR, in October of 2024.  With the local staff trained and newly installed IT infrastructure firing on all cylinders, the Fontana yard committed to hosting monthly auctions in January of 2025 – which Bar None was first to introduce to, and forever change, the heavy equipment auction industry. 

“We want our clients to know they can come back each month, whether they’re looking to buy or sell,” the company said.

This frequency allows customers to manage their inventory and finances effectively. The Southern California expansion solidifies Bar None’s West Coast presence and staggers its now three auctions on the 2nd Saturday (Sacramento), and 3rd & 4th Fridays (Fontana and Woodburn respectively) of every month, providing greater accessibility for buyers and sellers alike. (*Note, May’s Fontana auction on Friday, May 23rd is an exception to their normally scheduled third Fridays.)

Founded in 1993 by Zeb Seidel, Bar None Auction is now under the leadership of his son, Josh Seidel, a third-generation auctioneer.

“My grandfather was an auctioneer, my dad was an auctioneer and I’m an auctioneer,” Seidel said. “The auction business is in my blood — I’ve been involved my whole life, from commercial auctions to charity sales. It’s been a fulfilling journey.”

Seidel graduated from California State University-Sacramento with a business degree and has owned several small businesses, further deepening his expertise.

The name “Bar None” itself holds significance for the Seidel family.

“It originated with my great-great-grandfather, who would say, ‘I can get it done, bar none,'” Seidel said. The phrase embodies the commitment to excellence that the business strives to uphold.

While Bar None previously operated a location in the San Bernardino/Riverside area, the decision was made to refocus efforts on its Sacramento and Oregon sites.

“We knew we wanted to return to Southern California eventually, especially as demand remained strong from rental companies and contractors in the area,” Seidel said. Recently, a significant state contract required multiple locations across California, prompting the return.

The Fontana site boasts impressive features, including 12 acres of paved space, two loading docks, a range of forklifts to facilitate efficient load-out and checkout, as well as over a thousand feet of highway exposure and visibility.

All auctions are now conducted exclusively online, a shift accelerated by the pandemic.

“While I love live auctions, online is undeniably the future,” Seidel said. “The pandemic trained buyers to embrace digital tools, and we’ve made it easier than ever to participate in our auctions. Each lot has a scheduled time for bidding so customers can engage without the chaos of a live auction.”

To retain the sense of community often felt in live auctions, Bar None hosts preview days with food trucks, giveaways and opportunities for camaraderie among bidders. “It’s about creating an experience,” Seidel said.

As Bar None Auction grows, Seidel remains focused on providing exceptional service.

“We pride ourselves on being the easy button for our customers, whether they’re selling or buying,” he said.

With the new Fontana location, Bar None is poised for continued success by blending tradition with innovation in the auction business.

Construction Equipment Guide (CEG) contributed to this release.

About Bar None Auction:
Founded in 1993, Bar None Auction conducts premier monthly public auctions that specialize in heavy equipment, commercial and consumer vehicles and industrial support items.  Auctions are conducted year-round throughout the Western US including Oregon, Washington, Idaho, Utah, California, Nevada and Arizona with permanent locations in Sacramento, CA, Fontana, CA, and Woodburn, OR.  The leadership team of Bar None Auction has over a century of senior corporate experience that extends beyond auction services.  Bar None Auction is a California corporation headquartered in Sacramento, CA.

Media Contact:
Jeff Huber, Marketing Director
jhuber@barnoneauction.com

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SOURCE Bar None Auction

This prestigious award underscores the healthcare organization’s unwavering commitment to
inclusivity programs, innovation, and employee wellbeing.

SAN FRANCISCO, May 15, 2025 /PRNewswire/ — Delta Dental of California and Affiliates, the leading dental insurance provider, has been recognized by Newsweek as one of America’s Greatest Workplaces for Women in 2025. Presented by Newsweek and Plant-A Insights Group, this acclaimed award recognizes 1,000 U.S. companies that demonstrate supportive workplace policies and active commitment to inclusion.

“This award is a testament to Delta Dental’s ongoing commitment to our people,” said Brian Sherman, executive vice president and chief people officer of Delta Dental of California and Affiliates. “In today’s world, the importance of personal wellbeing and feeling supported in the workplace cannot be overstated. We believe inclusivity drives innovation, strengthens company culture, and empowers employees to better serve their communities.”

Newsweek and Plant-A Insights Group evaluate companies through a rigorous process that involves assessment of public data, interviews with HR professionals, and large-scale confidential employee surveys from companies across industries.

Delta Dental remains committed to expanding access to quality oral healthcare, improving education and driving impactful policy changes to address systemic issues. To learn more about what makes Delta Dental of California and Affiliates a top U.S. employer, visit our career page.

About Delta Dental of California and Affiliates
Since 1955, Delta Dental of California and Affiliates has offered comprehensive, high-quality oral health care coverage to millions of enrollees and built the strongest network of dental providers in the country. The Delta Dental of California enterprise includes its affiliates Delta Dental Insurance Company, Delta Dental of Pennsylvania, Delta Dental of New York, Inc., as well as the national DeltaCare USA network, and provides dental benefits to more than 31 million people across 15 states and the District of Columbia.* All are members of the Delta Dental Plans Association based in Chicago, Illinois, the not-for-profit national association that through a national network of Delta Dental companies collectively covers millions of people nationwide. Delta Dental is a registered trademark of Delta Dental Plans Association.
For more information about Delta Dental of California and Affiliates, please visit www.deltadentalins.com

*Delta Dental of California and Affiliates’ operating areas encompass Alabama, California, Delaware, Florida, Georgia, Louisiana, Maryland, Mississippi, Montana, Nevada, New York, Pennsylvania, Texas, Utah, West Virginia and the District of Columbia, as well as Puerto Rico and the Virgin Islands.

Media Contact:
Kinga Skowronek
Public Relations Manager at Delta Dental Insurance Company
kskowronek@delta.org
(415) 975-8272

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SOURCE Delta Dental of California

In coordination with National Menstrual Hygiene Day, PeriodPalooza mobilizes volunteers to deliver free period products to 460 Colorado schools

DENVER, May 15, 2025 /PRNewswire/ — As a part of a statewide effort to implement House Bill 24-1164, which requires free period products in all female and gender-neutral restrooms in Colorado middle and high schools, and in recognition of Menstrual Hygiene Day on May 28, Justice Necessary is delivering 1,371 dispensers and over 2.5 million pads and tampons to 460 schools across all five regions of the state through its landmark initiative, PeriodPalooza. Volunteers at events in Fort Collins, Pueblo, Grand Junction, Colorado Springs and Denver are assembling one-month period care kits for local students. Each event also serves as a distribution point for schools receiving menstrual supplies through Justice Necessary’s Menstrual Product Grant.

PeriodPalooza is a mobilization to ensure students across Colorado have reliable access to period products — whether in the classroom or during extracurricular activities. This campaign helps schools meet the first milestone of HB24-1164 while spotlighting menstrual health as a vital part of student success. It all leads up to Menstrual Hygiene Day, a global observance aimed at breaking the stigma around menstruation and demanding access to period care for all.

“When 80% of Colorado students who experience periods miss class due to a lack of access to period products, we partnered with legislators and stakeholders to pass HB 24-1164. But passing a law isn’t enough. Real change comes from putting policy into practice,” said Diane Cushman Neal, Founder and President of Justice Necessary. “We launched PeriodPalooza across Colorado to bring communities and schools together to pack and distribute over 2.5 million period products to ensure students have what they need to stay in school. Our goal is to raise awareness about the barriers students face and remind us all that access to period products just is necessary.”

The data that Cushman Neal cites, taken from studies conducted by Justice Necessary over the past three years, shows that an increasing number of Colorado students have experienced gaps in their education due to a lack of access to period products. The studies also demonstrate that 90% of Colorado teens have started their period unexpectedly in public without the supplies they need and 66% have been unable to take part in extracurricular activities.

PeriodPalooza events have occurred in Fort Collins, Pueblo, Grand Junction and Colorado Springs. The final stop in Denver is on Friday, May 23, and Saturday, May 24, from 9:00 a.m. to 5:00 p.m. each day at the Sheraton Denver Tech Center.

Justice Necessary is seeking volunteers ages 12 and up for two-hour shifts throughout the day. No experience is required. To register as a volunteer or make a donation, visit www.justicenecessary.org.

ABOUT JUSTICE NECESSARY
Founded in 2021 by Diane Cushman Neal, Justice Necessary is a Colorado nonprofit dedicated to combating period poverty and hygiene poverty in Colorado communities. Justice Necessary works throughout Colorado to deliver essential hygiene products to address immediate needs, while also focusing on community engagement, continuity of products, education and legislative support. Since its inception, Justice Necessary has provided more than 5,170,000 organic period products and more than 275,000 eco-friendly diapers and wipes, as well as over 325,000 other personal and household hygiene products. Learn more at justicenecessary.org.

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SOURCE Justice Necessary

VERONA, Wis., May 15, 2025 /PRNewswire/ — Everlight Solar has been recognized as a 2024 Neighborhood Fave by Nextdoor, a trusted platform where neighbors connect and share recommendations about the businesses they love. This prestigious award is based entirely on community votes, highlighting Everlight Solar as one of the most recommended and celebrated businesses in neighborhoods across the country.

The Neighborhood Faves awards are Nextdoor’s annual celebration of local businesses that have gone above and beyond to support their communities. Winners are determined by the number of “Faves” and positive recommendations received from neighbors over the past year.

“This year’s Neighborhood Fave businesses represent the outstanding service providers, local spots and eateries that are an essential part of our everyday lives,” said Nirav Tolia, Chief Executive Officer of Nextdoor. “We’re thrilled to celebrate these important members of the community, but more importantly, being a Neighborhood Fave is good for business. Congratulations to all of this year’s winners.”

This award reflects Everlight Solar’s deep commitment to empowering local communities with clean, renewable solar energy. Whether installing panels in your neighborhood or supporting local events and causes, they strive to be more than just your solar provider—Everlight Solar aims to be a trusted neighbor.

To see the full list of 2024 Neighborhood Fave winners or to learn more about the awards, visit nextdoor.com/favorites.

About Everlight Solar
Everlight Solar is the fastest-growing solar company in the Midwest, with operations in Wisconsin, Minnesota, Idaho, Nebraska, Oregon, Utah, and Wyoming. Everlight Solar earned a spot on both the 2023 Inc. 5000 and 2024 Inc. 5000 lists in its first two years of eligibility. To learn more about open job opportunities or about going solar for your home, visit www.everlightsolar.com.

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SOURCE Everlight Solar