Westport (WPRT) Q4 2025 Earnings Transcript

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Date

Thursday, April 23, 2026 astatine 7 a.m. ET

Call participants

• Chief Executive Officer — Daniel Sceli

• Chief Financial Officer — Elizabeth Owens

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Full Conference Call Transcript

Daniel Sceli: Thank you, Ashley, and bully morning, everyone. I privation to statesman by addressing caller events, and we admit the patience and enactment of our shareholders arsenic we enactment done our caller cybersecurity incident. Our precedence was to guarantee the integrity of our IT systems, concern continuity and fiscal reporting, and we are pleased to corroborate that this reappraisal has been successfully completed. With this down us, we're looking guardant to executing connected our strategy and delivering connected the adjacent signifier of our concern objectives. Turning to our fiscal results.

The past twelvemonth has been a defining 1 for Westport, marked by the palmy divestiture of our light-duty business, the caller receipt of a $6.5 cardinal outgo and further strengthened by Cespira's statement with a starring OEM to manufacture and present HPDI components for a motortruck proceedings assessing the aboriginal commercialization. These accomplishments, combined with ending the twelvemonth with implicit $27 cardinal successful currency and precise debased indebtedness bespeak the meaningful advancement we person made successful sharpening our strategical absorption and gathering a stronger company. The planetary heavy-duty proscription marketplace is progressively recognizing earthy state arsenic a applicable little emanation solution disposable today.

This is evidenced by Volvo's caller milestone of delivering much than 10,000 earthy state trucks connected the road, underscoring the accelerating adoption of Cespira's HPDI substance strategy exertion and validates the strategical absorption we person taken. From a marketplace perspective, the U.K. leads the adoption of HPDI powered LNG trucks, followed by Germany, Sweden, the Netherlands, Norway and France. Emerging state markets specified arsenic India and Latin America are besides gaining momentum with volumes seeing dependable growth. When we introduced our proprietary CNG substance retention and transportation strategy respective months ago, we emphasized its imaginable to importantly grow our addressable market, peculiarly successful North America. Development has progressed well, and our assurance successful the commercialized accidental continues to build.

We look guardant to showcasing this solution astatine the upcoming Advanced Clean Transportation Expo, ACT, wherever we volition person the accidental to amusement disconnected our exertion to manufacture partners and customers. By integrating precocious high-pressure CNG retention with Cespira's field-proven HPDI substance system, we lucifer oregon transcend the show and ratio expected from diesel engines with compelling economics successful markets wherever CNG is the earthy prime similar North America. We judge this innovation meaningfully enables Westport and Cespira to seizure caller opportunities arsenic we determination into tract testing. Our GFI marque done our high-pressure controls concern has besides delivered important operational milestones.