PHOTO COURTESY TAIGATaiga Motors Corp., which makes Orca electric personal watercraft, recorded CAN$1.4 million in revenues in the fourth quarter of 2022 and CAN$3.2 million for the full fiscal year, which ended Dec. 31.
“The fourth quarter wraps up a historic year at Taiga,” Sam Bruneau, CEO of Taiga, said in a statement. “Despite challenges during the year, we delivered the world’s first certified production electric snowmobiles and personal watercraft, won multiple coveted awards, launched our hybrid direct-to-consumer model and concluded the year with over 100 vehicles delivered.”
Taiga’s preorders remained stable at 3,222 during the fourth quarter as the company focused on production and deliveries of current preorders. Taiga says it wants to maintain a preorder level in line with the production and delivery plan.
Looking at details from 2022, cash and cash equivalents were just under CAN$22.8 million in December compared with CAN$31.2 million as of Sept. 30. Cost of sales of CAN$17.1 million were recorded in the 2022 fourth quarter compared with initial cost of sales of CAN$2.2 million in the first quarter. General and administration expenses decreased from CAN$8 million in the fourth quarter of 2021 to CAN$4.9 million in 2022.
This article was originally published in the May/June 2023 issue.
