Lightning eMotors, Inc. Financial Statements — ZEVY Stock

Income Statement	2019 Y	2020 Y	2021 Y	2022 Y
Sales/Revenue/Turnover	3	9	21	24
+ Sales & Services Revenue	3	9	21	24
- Cost of Revenue	4	11	26	36
+ Cost of Goods & Services	4	11	26	36
Gross Profit	-1	-2	-5	-12
+ Other Operating Income	- -	- -	- -	- -
- Operating Expenses	8	12	46	61
+ Selling, General & Admin	7	10	43	52
+ Research & Development	1	1	3	10
+ Other Operating Expense	- -	- -	- -	- -
Operating Income (Loss)	-9	-14	-51	-73
- Non-Operating (Income) Loss	1	24	50	-88
+ Interest Expense, Net	1	3	13	15
+ Interest Expense	1	3	13	15
- Interest Income	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	21	36	-103
Pretax Income	-10	-38	-101	15
- Income Tax Expense (Benefit)	- -	- -	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -
Income (Loss) from Cont Ops	-10	-38	-101	15
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -
Income (Loss) Incl. MI	-10	-38	-101	15
- Minority Interest	- -	- -	- -	- -
Net Income, GAAP	-10	-38	-101	15
- Preferred Dividends	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-10	-38	-101	15
Basic Weighted Avg Shares	4	4	3	4
Basic EPS, GAAP	-2.65	-10.28	-33.44	3.93
Basic EPS from Cont Ops	-2.65	-10.28	-33.44	3.93
Diluted Weighted Avg Shares	4	4	3	4
Diluted EPS, GAAP	-2.65	-10.28	-33.44	3.54
Diluted EPS from Cont Ops	-2.65	-10.28	-33.44	3.54
EBITDA	-9	-13	-50	-71
EBITDA Margin (%)	-282.33	-147.41	-239.93	-291.95
EBITA	-9	-14	-51	-73
EBIT	-9	-14	-51	-73
Gross Margin (%)	-33.79	-22	-25.25	-48.49
Operating Margin (%)	-289.66	-151.4	-244.1	-299.41
Profit Margin (%)	-306.26	-414.32	-480.04	62.14
Sales per Employee	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -
Depreciation Expense	- -	- -	1	2

Balance Sheet	2019 Y	2020 Y	2021 Y	2022 Y
Total Current Assets	9	14	199	122
+ Cash, Cash Equivalents & STI	1	- -	169	56
+ Cash & Cash Equivalents	1	- -	169	56
+ ST Investments	- -	- -	- -	- -
+ Accounts & Notes Receiv	1	4	9	10
+ Accounts Receivable, Net	1	4	9	10
+ Notes Receivable, Net	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -
+ Inventories	4	6	15	47
+ Raw Materials	3	4	11	31
+ Work In Process	- -	1	3	3
+ Finished Goods	1	- -	1	13
+ Inventory Adjustments	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -
+ Other ST Assets	2	4	7	9
+ Misc ST Assets	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -
Total Noncurrent Assets	1	11	14	21
+ Property, Plant & Equip, Net	1	10	14	19
+ Property, Plant & Equip	2	12	16	22
- Accumulated Depreciation	1	1	2	3
+ LT Investments & Receivables	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -
+ Other LT Assets	- -	- -	- -	2
+ Total Intangible Assets	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -
+ Misc LT Assets	- -	- -	- -	2
Total Assets	10	25	213	144
+ Payables & Accruals	2	5	11	14
+ Accounts Payable	1	3	6	8
+ Accrued Taxes	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -
+ Other Payables & Accruals	1	3	5	6
+ ST Debt	4	16	1	2
+ ST Borrowings	4	14	- -	- -
+ ST Finance Leases	- -	2	1	2
+ Other ST Liabilities	1	21	2	1
+ Deferred Revenue	- -	- -	- -	1
+ Derivatives & Hedging	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -
+ Misc ST Liabilities	1	21	2	- -
Total Current Liabilities	6	43	14	16
+ LT Debt	3	9	73	70
+ LT Borrowings	3	2	64	62
+ LT Finance Leases	- -	7	9	8
+ Other LT Liabilities	38	- -	101	3
+ Accrued Liabilities	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -
+ Misc LT Liabilities	38	- -	101	3
Total Noncurrent Liabilities	41	9	174	73
Total Liabilities	47	52	188	89
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -
+ Share Capital & APIC	6	54	207	221
+ Common Stock	- -	- -	- -	- -
+ Additional Paid in Capital	6	54	207	221
- Treasury Stock	- -	- -	- -	- -
+ Retained Earnings	-43	-81	-182	-166
+ Other Equity	- -	- -	- -	- -
Equity Before Minority Interest	-38	-27	25	55
+ Minority/Non Controlling Interest	- -	- -	- -	- -
Total Equity	-38	-27	25	55
Total Liabilities & Equity	10	25	213	144
Shares Outstanding	4	4	4	4
Capital Leases - Total	- -	9	10	10
Net Debt	5	15	-105	6
Net Debt to Equity	-13.67	-57.57	-415.56	11.17
Tangible Common Equity Ratio	-384.66	-107.36	11.81	38
Current Ratio	1.44	0.34	13.83	7.68
Cash Conversion Cycle	- -	211.78	212.19	415.97
Number of Employees	- -	- -	- -	- -

Cash Flow Statement	2019 Y	2020 Y	2021 Y	2022 Y
+ Net Income	-10	-38	-101	15
+ Depreciation & Amortization	- -	- -	1	2
+ Non-Cash Items	1	25	51	-79
+ Stock-Based Compensation	- -	- -	3	5
+ Deferred Income Taxes	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -
+ Other Non-Cash Adj	- -	24	49	-84
+ Chg in Non-Cash Work Cap	-4	-4	-17	-42
+ (Inc) Dec in Accts Receiv	-1	-3	-8	-5
+ (Inc) Dec in Inventories	-3	-2	-10	-36
+ (Inc) Dec in Prepaid Assets	-1	-2	-6	-3
+ Inc (Dec) in Accts Payable	1	3	8	2
+ Inc (Dec) in Other	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -
Cash from Operating Activities	-13	-16	-66	-105
+ Change in Fixed & Intang	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -
+ Acq of Fixed & Intang	-1	-2	-3	-8
+ Acq of Fixed Prod Assets	-1	-2	-3	-8
+ Acq of Intangible Assets	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -
Cash from Investing Activities	-1	-2	-3	-8
+ Dividends Paid	- -	- -	- -	- -
+ Net Cash From Debt	5	23	86	- -
+ Cash From Debt	7	23	109	- -
+ Repayments of Debt	-2	- -	-23	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	- -
+ Increase in Capital Stock	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -
+ Other Financing Activities	1	-6	151	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -
Cash from Financing Activities	6	17	237	- -
Effect of Foreign Exchange Rates	- -	- -	- -	- -
Net Changes in Cash	-8	-1	168	-113
Capital Expenditures	-1	-2	-3	-8
EBITDA	-9	-13	-50	-71
EBITDA Margin (%)	-282.33	-147.41	-239.93	-291.95
Net Cash Paid for Acquisitions	- -	- -	- -	- -
Free Cash Flow	-14	-18	-69	-112
Free Cash Flow to Firm	- -	- -	- -	-97
Free Cash Flow to Equity	- -	5	17	-113
Free Cash Flow per Basic Share	-3.79	-4.98	-22.92	-29.16
Price/Free Cash Flow	- -	-67.91	-5.79	-0.33
Cash Flow to Net Income	1.36	0.43	0.65	-6.89

Lightning eMotors, Inc.

Income Statement

Balance Sheet

Cash Flow Statement