Aug 12, 2026 earnings call — Cespira growth and company financing
Cespira revenue grew 125% year-over-year, with product revenue of $18.9 million.
Revenue $0.0B (est $0.0B) · EPS $-0.64 (est $-0.35)
Key quotes
"First, Cespira, our joint venture with Volvo Group, signed an agreement with Volvo Group to complete development of a hydrogen-fueled engine."
"Westport closed the sale of 1.6 million common shares and 3.3 million prefunded warrants in a registered direct offering."
"That said, at the end of the quarter, we did see a backlog of demand from customers that are waiting to be fulfilled as we continue to improve the production output from our 2 main manufacturing plants in Canada and China."
Analyst Q&A 3
Cespira sales drivers and hydrogen funding
Q (Amit Dayal · H. C. Wainwright): The analyst asked what is driving strong Cespira sales now and whether Westport must fund the HPDI hydrogen work between Cespira and Volvo.
A: Management said EU emission mandates and OEM/fleet demand are pushing adoption, and Volvo is expanding outside Europe including South America and India; Cespira is in 37 countries now, over 12 thousand trucks on the road. They said bringing HPDI to North America and a new CNG storage system is important. For hydrogen HPDI development, Volvo is funding the development as a customer-funded program.
"We are in 37 countries now, over 12 thousand trucks on the road." — Daniel Sceli (CEO)
Factory setup delays and JV cash needs
Q (Eric Stine · Craig Hallum Capital Group): The analyst asked if unfulfilled demand in high-pressure systems is just typical setup delays at the Canada and China sites and whether that limits near-term revenue. He also asked how reaching breakeven at the joint venture affects Westport's capital contributions.
A: Management said the main issue was shutting down, moving equipment from Europe to Canada and China, installing it, certifying facilities and training staff, which left them behind on volume. They said Q1 and Q2 were transition periods and they expect to meet volumes in Q3 and Q4 with no further roadblocks. Regarding the joint venture, they said cash contributions were assessed year-by-year and quarter-by-quarter based on business cash needs, so breakeven would remove the need for those cash calls.
"it was a case of, you know, year by year, quarter by quarter, evaluating the cash needs of the business." — Daniel Sceli (CEO)
Second OEM trial and production volume outlook
Q (Christopher Dendrinos · RBC): The analyst asked for more detail on the second OEM engagement with Cespira, timing for next milestones, and whether removing manufacturing bottlenecks would drive revenue growth in the back half of the year.
A: Management said the second OEM did an initial 200-truck trial and is now planning a much larger second-phase field trial; they expect to hear the plan in about a month. On production, they said they lost about 6 months moving equipment, installing and recertifying facilities, and are filling backlog; they expect China to add volume and to get back to plan in North America and Europe and to beat their plan this year on volume.
"And we are at the stage now where they are planning out the second phase of their field trials, which would be much larger than the original field trial." — Daniel Sceli (CEO)