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Nikola Corporation Reports Third Quarter 2024 Results
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Record 88 wholesale deliveries of hydrogen fuel cell electric trucks in Q3, up 22% quarter over quarterFCEV Fleet adoption up 78% year-to-date, with 16 end fleets deploying Nikola FCEVs, 32 distinct end fleets across both powertrainsExpanded dealer network for the first time since launch of the FCEVReiterating our year-end volume guidance of 300-350 FCEVs
PHOENIX, Oct. 31, 2024 /PRNewswire/ — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today reported financial results and business updates for the quarter ended September 30, 2024.
“Year-to-date, we had record sales of hydrogen fuel cell electric trucks, a 78% increase in FCEV fleet adoption, and a nearly 350% increase in hydrogen fuel dispensed at our commercial stations,” said Steve Girsky, President and CEO of Nikola. “We also returned 78 BEV “2.0s” back to end fleets and dealers. With every truck delivered and fueled at our HYLA stations, we continue to deliver proof points to the market that zero-emission trucks are driving the future of Class 8 mobility.”
Hydrogen Fuel Cell Electric Truck
We delivered record sales of 88 FCEVs to our dealer network, up 22% from last quarter. On the retail front, we continued to see strong organic growth from existing end fleets. National fleet partners such as Kenan Advantage Group and DHL Supply Chain recently announced deployment of Nikola FCEVs and noted the important role we play in not only helping them meet their sustainability goals, but those of their end customers, which includes Nestlé and Diageo.
We expanded our dealer network for the first time since the launch of our FCEV with the addition of GTS Group, in Southern California. GTS, a successful traditional truck dealership, recently introduced a new division, created for the sales and service of Nikola trucks called “Next Generation Truck” or NGT. This additional dealer brings the number of Nikola sales and service locations up to nineteen across the U.S.
We reiterate FCEV volume guidance of 300-350 trucks by year-end.
HYLA Energy
We expect to deliver 10 HYLA fueling solutions by year-end. We are focusing our strategy on providing more support at existing stations to better serve our customers as we scale. Operationally, over the lifetime of the entire HYLA network, we have recorded more than 5900 fueling events, dispensing more than 210 metric tons of hydrogen, for an average of 36kg per fill. The year-to-date ramp-up in mobile hydrogen refueling stations has been very strong. Since we began measuring commercial fueling operations in Q1, total hydrogen dispensing has grown nearly 350% year-to-date.
Battery-Electric Truck
We are excited that the BEV “2.0” is back on the road, hauling freight, and validating its use case. Since putting the BEV 2.0 back into service, 19 end fleets have accumulated more than 715K in-service road miles. The BEV 2.0 has been the truck of choice for our end fleets not only for its performance but also to meet the sustainability goals of end fleet partners. Program-to-date, we’ve returned 78 BEVs back to the market to overwhelmingly positive feedback.
Third Quarter Operational and Financial Highlights
Three Months Ended
September 30,
Nine Months Ended
September 30,
(In thousands, except share and per share data)
2024
2023
2024
2023
Trucks produced
83
N/A
203
96
Trucks shipped
90
3
203
79
Total revenues
$ 25,181
$ (1,732)
$ 63,997
$ 24,307
Gross profit (loss)
$ (61,943)
$ (125,503)
$ (174,244)
$ (175,831)
Gross margin
(246) %
7246 %
(272) %
(723) %
Loss from operations
$ (178,791)
$ (226,167)
$ (455,278)
$ (521,993)
Net loss from continuing operations
$ (199,781)
$ (425,764)
$ (481,177)
$ (711,025)
Net loss on discontinued operations
$ —
$ —
$ —
$ (101,661)
Net loss
$ (199,781)
$ (425,764)
$ (481,177)
$ (812,686)
Adjusted EBITDA (1)
$ (123,610)
$ (188,563)
$ (337,037)
$ (417,318)
Net loss from continuing operations per share, basic and diluted
$ (3.89)
$ (14.90)
$ (10.12)
$ (30.20)
Net loss from discontinued operations
$ —
$ —
$ —
$ (4.32)
Non-GAAP net loss per share, basic and diluted(1)
$ (2.75)
$ (9.04)
$ (8.05)
$ (21.97)
Weighted-average shares outstanding, basic and diluted
51,388,962
28,573,800
47,553,460
23,544,174
(1) A reconciliation of the non-GAAP versus GAAP information is provided below in the financial statement tables in this press release.
Webcast and Conference Call Information
Nikola will host a webcast to discuss its third quarter results and business progress at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time) on October 31, 2024. To access the webcast, parties in the United States should follow this link.
The live audio webcast, along with supplemental information, will be accessible on the Company’s Investor Relations website here. A recording of the webcast will also be available following the earnings call.
About Nikola Corporation
Nikola Corporation’s mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming commercial transportation, with our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem, covering supply, distribution and dispensing.
Nikola headquarters is based in Phoenix, Ariz. with a manufacturing facility in Coolidge, Ariz.
Experience our journey to achieve your sustainability goals at nikolamotor.com or engage with us on social media via Facebook @nikolamotorcompany, Instagram @nikolamotorcompany, YouTube @nikolamotorcompany, LinkedIn @nikolamotorcompany or X / Twitter @nikolamotor
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola Corporation (the “Company”), including statements relating to: the Company’s belief that the third quarter is an example of how it is executing its strategic and operational objectives by strengthening its resolve to push forward, meet the demands of end fleets, and lay a path for a sustainable future; the Company’s belief that zero-emission trucks are driving the future of Class 8 mobility; the Company’s beliefs regarding its role in helping to meet sustainability goals; the Company’s future financial and business performance, truck sale guidance, business plan, strategy, focus, opportunities and milestones; the benefits and momentum in the Company’s profitability flywheel; customer demand for trucks; the Company’s beliefs regarding its competition and competitive position; the Company’s business outlook; the Company’s expectations regarding hydrogen refueling solutions and timelines; expectations related to the battery-electric truck recall; and the Company’s beliefs regarding the benefits and attributes of its trucks, and customer experience. These forward-looking statements other than statements of historical fact, and generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: the Company’s ability to continue as a going concern; the Company’s cash needs and obligations, and changes in its cash needs and obligations; the Company’s its ability to raise sufficient capital to continue to operate its business; the Company’s ability to achieve cost reductions and decrease its cash usage; the ability of the Company to successfully execute its business plan; design and manufacturing changes and delays, including shortages of parts and materials and other supply challenges; the continued availability of hydrogen refueling solutions; general economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets; demand for and customer acceptance of the Company’s trucks and hydrogen refueling solutions; the results of customer pilot testing; the execution and terms of definitive agreements with strategic partners and customers; the failure to convert LOIs or MOUs into binding orders; the cancellation of orders; risks associated with development and testing of fuel cell power modules and hydrogen storage systems; risks related to the recall, including higher than expected costs, the discovery of additional problems, delays retrofitting the trucks and delivering such trucks to customers, supply chain and other issues that may create additional delays, order cancellations as a result of the recall, litigation, complaints and/or product liability claims, and reputational harm; risks related to the rollout of the Company’s business and milestones and the timing of expected business milestones; the effects of competition on the Company’s business; the Company’s capital needs ability to raise capital; the Company’s ability to achieve cost reductions and decrease its cash usage; the grant, receipt and continued availability of federal and state incentives; and the factors, risks and uncertainties regarding the Company’s business described in the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q, for the quarter ended June 30, 2024 filed with the SEC, in addition to the Company’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause the Company’s actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Use of Non-GAAP Financial Measures
This press release references Adjusted EBITDA and non-GAAP net loss per share, basic and diluted, all of which are non-GAAP financial measures and are presented as supplemental measures of the Company’s performance. The Company defines Adjusted EBITDA as earnings before interest expense, taxes, depreciation and amortization, stock-based compensation expense, and certain other items determined by the Company. Non-GAAP net loss is defined as net loss adjusted for stock-based compensation expense and certain other items determined by the Company. Non-GAAP net loss per share, basic and diluted is defined as non-GAAP net loss divided by weighted average basic and diluted shares outstanding. These non-GAAP measures are not substitutes for or superior to measures of financial performance prepared in accordance with generally accepted accounting principles in the United States (GAAP) and should not be considered as an alternative to any other performance measures derived in accordance with GAAP.
The Company believes that presenting these non-GAAP measures provides useful supplemental information to investors about the Company in understanding and evaluating its operating results, enhancing the overall understanding of its past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by its management in financial and operational-decision making. However, there are a number of limitations related to the use of non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently or may use other measures to calculate their financial performance, and therefore any non-GAAP measures the Company uses may not be directly comparable to similarly titled measures of other companies.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
(Unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024
2023
2024
2023
Revenues:
Truck sales
$ 24,847
$ (2,368)
$ 61,008
$ 19,693
Service and other
334
636
2,989
4,614
Total revenues
25,181
(1,732)
63,997
24,307
Cost of revenues:
Truck sales
82,205
122,679
222,946
195,902
Service and other
4,919
1,092
15,295
4,236
Total cost of revenues
87,124
123,771
238,241
200,138
Gross loss
(61,943)
(125,503)
(174,244)
(175,831)
Operating expenses:
Research and development (1)
41,800
41,966
121,458
168,286
Selling, general, and administrative (1)
41,629
57,982
126,157
159,443
Impairment expense
33,419
—
33,419
—
Loss on supplier deposits
—
716
—
18,433
Total operating expenses
116,848
100,664
281,034
346,162
Loss from operations
(178,791)
(226,167)
(455,278)
(521,993)
Other income (expense):
Interest expense, net
(10,875)
(52,680)
(17,094)
(71,262)
Gain on divestiture of affiliate
—
—
—
70,849
Loss on debt extinguishment
(871)
—
(3,184)
(20,362)
Other income (expense), net
(9,417)
(146,654)
(4,664)
(151,969)
Loss before income taxes and equity in net profit (loss) of affiliates
(199,954)
(425,501)
(480,220)
(694,737)
Income tax expense
—
1
92
1
Loss before equity in net profit (loss) of affiliates
(199,954)
(425,502)
(480,312)
(694,738)
Equity in net profit (loss) of affiliates
173
(262)
(865)
(16,287)
Net loss from continuing operations
(199,781)
(425,764)
(481,177)
(711,025)
Discontinued operations:
Loss from discontinued operations
—
—
—
(76,726)
Loss from deconsolidation of discontinued operations
—
—
—
(24,935)
Net loss from discontinued operations
—
—
—
(101,661)
Net loss
$ (199,781)
$ (425,764)
$ (481,177)
$ (812,686)
Basic and diluted net loss per share (2):
Net loss from continuing operations
$ (3.89)
$ (14.90)
$ (10.12)
$ (30.20)
Net loss from discontinued operations
$ —
$ —
$ —
$ (4.32)
Net loss
$ (3.89)
$ (14.90)
$ (10.12)
$ (34.52)
Weighted-average shares outstanding, basic and diluted (2)
51,388,962
28,573,800
47,553,460
23,544,174
(1) Includes stock-based compensation as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
2024
2023
2024
2023
Cost of revenues
$ 434
$ 414
$ 1,114
$ 1,813
Research and development
2,473
3,383
7,825
19,043
Selling, general, and administrative
5,694
14,862
16,398
48,060
Total stock-based compensation expense
$ 8,601
$ 18,659
$ 25,337
$ 68,916
(2) Shares issued and outstanding have been adjusted to reflect the one-for-thirty (1-for-30) reverse stock split that became effective on June 24, 2024.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
(Unaudited)
September 30,
December 31,
2024
2023
Assets
Current assets
Cash and cash equivalents
$ 198,301
$ 464,715
Restricted cash and cash equivalents
3,374
1,224
Accounts receivable, net
51,773
17,974
Inventory
76,076
62,588
Prepaid expenses and other current assets
61,996
25,911
Total current assets
391,520
572,412
Restricted cash and cash equivalents
16,086
28,026
Long-term deposits
17,256
14,954
Property, plant and equipment, net
490,244
503,416
Intangible assets, net
52,130
85,860
Investment in affiliate
56,197
57,062
Goodwill
—
5,238
Other assets
12,610
7,889
Total assets
$ 1,036,043
$ 1,274,857
Liabilities and stockholders’ equity
Current liabilities
Accounts payable
$ 57,161
$ 44,133
Accrued expenses and other current liabilities
205,508
207,022
Debt and finance lease liabilities, current
73,111
8,950
Total current liabilities
335,780
260,105
Long-term debt and finance lease liabilities, net of current portion
270,018
269,279
Operating lease liabilities
6,806
4,765
Other long-term liabilities
44,193
21,534
Total liabilities
656,797
555,683
Commitments and contingencies
Stockholders’ equity
Preferred stock
—
—
Common stock
6
4
Additional paid-in capital
3,931,702
3,790,401
Accumulated deficit
(3,552,246)
(3,071,069)
Accumulated other comprehensive loss
(216)
(162)
Total stockholders’ equity
379,246
719,174
Total liabilities and stockholders’ equity
$ 1,036,043
$ 1,274,857
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Nine Months Ended September 30,
2024
2023
Cash flows from operating activities
Net loss
$ (481,177)
$ (812,686)
Less: Loss from discontinued operations
—
(101,661)
Loss from continuing operations
(481,177)
(711,025)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:
Depreciation and amortization
33,408
28,758
Stock-based compensation
25,337
68,916
Equity in net loss of affiliates
865
16,287
Revaluation of financial instruments
6,284
195,132
Revaluation of contingent stock consideration
—
(43,981)
Inventory write-downs
56,587
64,500
Non-cash interest expense
11,906
72,846
Loss on supplier deposits
—
18,433
Gain on divestiture of affiliate
—
(70,849)
Loss on debt extinguishment
3,184
20,362
Loss on disposal of assets
2,921
—
Impairment expense
33,419
—
Other non-cash activity
5,674
3,888
Changes in operating assets and liabilities:
Accounts receivable, net
(33,799)
20,932
Inventory
(71,085)
(9,983)
Prepaid expenses and other current assets
(14,017)
(48,332)
Other assets
(1,595)
(2,384)
Accounts payable, accrued expenses and other current liabilities
(3,478)
(1,672)
Long-term deposits
(262)
(1,377)
Operating lease liabilities
(2,769)
(1,191)
Other long-term liabilities
29,064
2,316
Net cash used in operating activities
(399,533)
(378,424)
Cash flows from investing activities
Purchases and deposits of property, plant and equipment
(43,740)
(108,409)
Proceeds from the sale of assets
21,398
20,742
Divestiture of affiliate
—
35,000
Payments to Assignee
—
(2,725)
Investments in affiliate
—
(250)
Net cash used in investing activities
(22,342)
(55,642)
Cash flows from financing activities
Proceeds from the exercise of stock options
—
7,393
Proceeds from issuance of shares under the Tumim Purchase Agreements
—
67,587
Proceeds from registered direct offering, net of underwriter’s discount
—
63,456
Proceeds from public offering, net of underwriter’s discount
—
32,244
Proceeds from issuance of common stock under Equity Distribution Agreement, net of commissions and other fees paid
73,464
115,027
Proceeds from issuance of convertible notes
80,000
217,075
Proceeds from issuance of financing obligation, net of issuance costs
—
53,548
Proceeds from insurance premium financing
4,598
5,223
Repayment of debt and promissory notes
(522)
(45,287)
Payment for Coupon Make-Whole Premium
(4,579)
—
Payments on insurance premium financing
(3,661)
(3,550)
Payments on finance lease liabilities and financing obligation
(3,549)
(459)
Payments for issuance costs
(80)
—
Net cash provided by financing activities
145,671
512,257
Net increase (decrease) in cash and cash equivalents, including restricted cash and cash equivalents
(276,204)
78,191
Cash and cash equivalents, including restricted cash and cash equivalents, beginning of period
493,965
313,909
Cash and cash equivalents, including restricted cash and cash equivalents, end of period
$ 217,761
$ 392,100
Cash flows from discontinued operations:
Operating activities
$ —
$ (4,964)
Investing activities
—
(1,804)
Financing activities
—
(572)
Net cash used in discontinued operations
$ —
$ (7,340)
Reconciliation of GAAP Financial Metrics to Non-GAAP
(In thousands, except share and per share data)
(Unaudited)
Reconciliation of Net Loss from continuing operations to EBITDA and Adjusted EBITDA
Three Months Ended September 30,
Nine Months Ended September 30,
2024
2023
2024
2023
(in thousands)
Net loss from continuing operations
$ (199,781)
$ (425,764)
$ (481,177)
$ (711,025)
Interest expense, net
10,875
52,680
17,094
71,262
Income tax expense
—
1
92
1
Depreciation and amortization
11,720
16,996
33,408
28,758
EBITDA
(177,186)
(356,087)
(430,583)
(611,004)
Impairment expense
33,419
—
33,419
—
Stock-based compensation
8,601
18,659
25,337
68,916
Loss on supplier deposits
—
716
—
18,433
Gain on divestiture of affiliate
—
—
—
(70,849)
Loss on debt extinguishment
871
—
3,184
20,362
Loss / (gain) on disposal of assets
(237)
—
2,921
—
Equipment purchase cancellation
—
—
15,613
—
Revaluation of financial instruments
8,431
145,717
6,284
151,151
Regulatory and legal matters (1)
2,491
2,432
6,788
5,673
Adjusted EBITDA
$ (123,610)
$ (188,563)
$ (337,037)
$ (417,318)
(1) Regulatory and legal matters include legal, advisory, and other professional service fees incurred in connection with a short-seller article from September 2020, and investigations and litigation related thereto.
Reconciliation of GAAP to Non-GAAP Net Loss, and GAAP to Non-GAAP Net Loss per Share, basic and diluted
Three Months Ended September 30,
Nine Months Ended September 30,
2024
2023
2024
2023
(in thousands, except share and per share data)
Net loss from continuing operations
$ (199,781)
$ (425,764)
$ (481,177)
$ (711,025)
Impairment expense
33,419
—
33,419
—
Stock-based compensation
8,601
18,659
25,337
68,916
Debt issuance costs for Senior Convertible Notes
4,890
—
4,890
—
Loss on supplier deposits
—
716
—
18,433
Gain on divestiture of affiliate
—
—
—
(70,849)
Loss on debt extinguishment
871
—
3,184
20,362
Revaluation of financial instruments
8,431
145,717
6,284
151,151
Loss / (gain) on disposal of assets
(237)
—
2,921
—
Equipment purchase cancellation
—
—
15,613
—
Regulatory and legal matters (1)
2,491
2,432
6,788
5,673
Non-GAAP net loss
$ (141,315)
$ (258,240)
$ (382,741)
$ (517,339)
Net loss from continuing operations per share, basic and diluted (2)
$ (3.89)
$ (14.90)
$ (10.12)
$ (30.20)
Non-GAAP net loss per share, basic and diluted
$ (2.75)
$ (9.04)
$ (8.05)
$ (21.97)
Weighted average shares outstanding, basic and diluted (2)
51,388,962
28,573,800
47,553,460
23,544,174
(1) Regulatory and legal matters include legal, advisory, and other professional service fees incurred in connection with a short-seller article from September 2020, and investigations and litigation related thereto.
(2) Shares issued and outstanding have been adjusted to reflect the one-for-thirty (1-for-30) reverse stock split that became effective on June 24, 2024.
Reconciliation of Cash flows to Adjusted Free Cash Flow
Three Months Ended September 30,
Nine Months Ended September 30,
2024
2023
2024
2023
(in thousands)
Most comparable GAAP measure:
Net cash used in operating activities
$ (149,377)
$ (91,259)
$ (399,533)
$ (378,424)
Net cash used in investing activities
(13,558)
(115)
(22,342)
(55,642)
Net cash provided by financing activities
98,080
188,119
145,671
512,257
Non-GAAP measure:
Net cash used in operating activities
(149,377)
(91,259)
(399,533)
(378,424)
Purchases of property, plant and equipment
(13,558)
(20,690)
(43,740)
(108,409)
Adjusted free cash flow
$ (162,935)
$ (111,949)
$ (443,273)
$ (486,833)
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SOURCE Nikola Corporation
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Ampersand Capital Partners Named to Inc.’s 2024 List of Founder-Friendly Investors
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October 31, 2024By
BOSTON, Oct. 31, 2024 /PRNewswire/ — For the third consecutive year, Ampersand Capital Partners has been named to Inc.’s 2024 Founder-Friendly Investors list, which honors the private equity and venture capital firms with a proven track record for building strong partnerships with entrepreneurs. The list recognizes investment firms that remain actively involved with the businesses in which they invest while earning the trust of the entrepreneurs they support.
“Our investment philosophy extends far beyond simply meeting capital needs; it focuses on forging relationships with founders. Being consistently recognized by Inc. as a founder-friendly investor underscores our steadfast commitment to collaborating with entrepreneurs to realize a shared vision for growth and innovation in healthcare and life sciences,” said Herb Hooper, Managing Partner at Ampersand Capital Partners.
To compile the list, Inc. went straight to the source: entrepreneurs who have sold to private equity and venture capital firms. Founders filled out a questionnaire about their experiences partnering with private equity, venture capital, and debt firms and shared data on how their portfolio companies have grown during these partnerships.
“It has been a complicated few years for growth companies and the companies that fund them,” said Mike Hofman, editor-in-chief of Inc. “So we are happy to share with our readers the best, latest guidance on which venture capital firms, private equity firms, and growth-capital lenders have the track record and reputation of being especially good partners to founders and CEOs.”
Introduced in 2019, the Founder-Friendly Investors list quickly established itself as one of Inc.’s most resourceful franchises. It has become a go-to guide for entrepreneurs who want to grow their companies while retaining an ownership stake.
To see the complete list, go to: https://www.inc.com/founder-friendly-investors/2024
The 2024 List of Founder-Friendly Investors was announced by Inc. on October 29, 2024, and the award is based upon information from the previous year. Ampersand Capital Partners (“Ampersand”) paid Inc. a nonrefundable application fee to participate in Inc.’s 2024 Founder-Friendly Investors Listing, which all applicants were required to pay. Ampersand submitted stories of founder-led investments and value creation as part of the submission entry. Inc. compiled its list by directly surveying founders who have sold to private equity and venture capital firms and worked with lenders. Inc. then examined data on portfolio company growth during those partnerships. This award is not to be construed as indicative of future performance. To see the complete list of award recipients, go to: https://www.inc.com/founder-friendly-investors/2024.
About Ampersand Capital Partners
Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit AmpersandCapital.com or follow us on LinkedIn.
About Inc.
Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, digital, print, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
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SOURCE Ampersand Capital Partners
Technology
D2K Traffic Welcomes Jodie Braskich as Chief Operating Officer
Published
6 mins agoon
October 31, 2024By
CHICAGO, Oct. 31, 2024 /PRNewswire/ — D2K Traffic, a leader in traffic management solutions, is proud to announce the appointment of Jodie Braskich as the company’s new Chief Operating Officer (COO), effective October 15, 2024. Braskich brings over 20 years of experience in supply chain, operations, project management, and business development, making her a key addition to D2K Traffic’s leadership team during an exciting period of growth and innovation.
Braskich joins D2K Traffic following a successful tenure with Davey Resource Group, where she most recently served as Director of Midwestern Operations. In this role, she was instrumental in improving operational efficiencies, driving revenue growth, and delivering high-quality project results. Braskich’s deep understanding of field operations, coupled with her strategic leadership style, has made her a standout leader in the industry. She has consistently fostered strong partnerships and successfully led teams to exceed performance targets.
“Jodie’s proven expertise in operational leadership and her commitment to building trusted relationships with clients and teams alike will be invaluable as D2K Traffic continues to expand its services and reach new markets,” said Kathi Holst, CEO of D2K Traffic. “We are confident that Jodie’s vision and leadership will help us continue to deliver industry-leading traffic solutions to communities and businesses nationwide.”
Braskich is known for her collaborative approach and belief in empowering her teams to achieve success. Her ability to optimize operational performance and create long-term strategies has yielded sustained improvements in all aspects of project execution. With a strong focus on safety, quality, and performance, she will play a critical role in shaping the future of D2K Traffic’s operations.
In addition to her professional accomplishments, Braskich enjoys spending time with her family. She and her husband are parents to four sons and avid hockey fans. In her free time, they enjoy outdoor activities, including walking their Bernedoodle.
D2K Traffic looks forward to the leadership and expertise Braskich will bring to the company as it continues its mission to provide innovative traffic solutions that ensure safety and efficiency for communities across the country.
About D2K Traffic
D2K Traffic is a premier provider of traffic management services, offering cutting-edge solutions to improve traffic flow and safety in communities and businesses across the Midwest. Through its commitment to innovation and customer service, D2K Traffic delivers comprehensive traffic solutions tailored to meet the specific needs of its clients.
View original content to download multimedia:https://www.prnewswire.com/news-releases/d2k-traffic-welcomes-jodie-braskich-as-chief-operating-officer-302293222.html
SOURCE D2K Traffic Safety, Inc.
Technology
bproauto Continues Growing as a Top-notch Source of Original Equipment-backed Aftermarket Parts
Published
6 mins agoon
October 31, 2024By
AUBURN HILLS, Mich. , Oct. 31, 2024 /PRNewswire/ —
bproauto aftermarket parts brand launched in January 2023 to the North American market More than 20 bproauto product lines are available today with additional part numbers and new products launching regularly bproauto parts will be showcased as part of upcoming vehicle reconditioning projects on MotorTrend TV shows “Two Guys Garage” and “Truck U” bproauto team is attending its second consecutive Automotive Aftermarket Products Expo (AAPEX) Show (booth A3233) in Las Vegas, Nov. 5-7, hosting Kevin and Willie B from “Two Guys Garage” Large print and digital advertising presence features bproauto on Ratchet + Wrench, Shop Owner, Motor Age, CARS, EV World and Jobber News, as well as vehicleservicepros.com and ratchetandwrench.com bproautoparts.com features an intuitive, interactive online parts catalog with six ways to search parts bproauto parts are also available on e-commerce platform RepairLink and through a network of more than 3,000 distribution centers bproauto has an active social media presence on YouTube, Facebook and LinkedIn
bproauto, a leading provider of original equipment (OE)-backed and quality-tested aftermarket parts, is approaching its second year of operations in North America. Launched in January 2023, bproauto has rapidly expanded its product offerings and market presence, ensuring that customers have access to high-quality, competitively priced parts that are readily available, and warranty backed.
“We set out to redefine the aftermarket parts landscape by bringing quality, reliability and ease of access to our customers,” said Dustin Pedley, global head of bproauto. “In less than two years, we have not only met those goals but exceeded them. Our growth has been fueled by a commitment to deliver parts that automotive professionals can trust.”
Expansion of Product Offerings
Since its inception, bproauto has steadily increased its product portfolio and now offers more than 20 categories of automotive parts. Products currently available include air and fuel delivery systems, brakes, driveline and axle components, electrical parts, engine filters, HVAC systems, suspension parts and more.
“We are proud of the strides we’ve made in expanding our product range,” Pedley continued. “Our team works tirelessly to bring new, innovative parts to market. For the remainder of 2024, we are looking forward to launching a range of new products, including ignition coils, brake hardware and even collision parts.”
High-profile Media Appearances
Upcoming high-profile media appearances will see bproauto showcasing products as part of vehicle reconditioning projects on MotorTrend TV’s popular shows “Two Guys Garage” and “Truck U.” The brand will be featured in upcoming episodes through 2025, bringing greater awareness to its range of quality products.
New episodes of “Two Guys Garage” featuring bproauto parts will air in early November while episodes of “Truck U” featuring bproauto parts will air beginning Dec. 15, 2024.
Second Appearance at AAPEX
bproauto is gearing up for its second consecutive appearance at the Automotive Aftermarket Products Expo (AAPEX) Show in Las Vegas, Nov. 5-7. Visitors to booth A3233 will have the chance to meet Kevin and Willie B from “Two Guys Garage,” talk to bproauto parts specialists and experience firsthand how easy it is to do business with the company.
“AAPEX is a key event for us,” said Pedley. “It’s an excellent opportunity to connect directly with our customers and show them the full breadth of our product lineup and the benefits of choosing bproauto parts. We’re especially excited to have Kevin and Willie B join us for what promises to be an exciting showcase.”
Digital Innovation and Marketing Presence
The company’s robust digital presence has also played a critical role in its growth. With a large print and digital advertising campaign spanning industry publications like Ratchet + Wrench, Shop Owner, Motor Age and CARS, bproauto has cemented its presence as a go-to source for automotive parts. In addition, its intuitive online catalog allows users to search parts efficiently by category, make and model, VIN and even competitor part numbers.
Industry Partnerships and Availability
bproauto parts are now available on major platforms, like e-commerce site RepairLink, and through a network of more than 3,000 distribution centers, making them accessible to a broad range of customers across North America. This accessibility is complemented by the company’s active social media presence on Facebook and LinkedIn, providing customers with the latest updates and insights on products and industry trends.
As bproauto nears its second year, the company remains committed to innovation, quality and customer satisfaction. With plans for continued expansion and new product launches on the horizon, the future looks bright for this rapidly growing brand.
bproauto
bproauto parts are OE-backed, quality-tested aftermarket parts designed for most makes and models. With a growing catalog of products, bproauto offers reliable, competitively priced parts that are readily available and backed by a comprehensive warranty.
Complete information about bproauto is available at www.bproautoparts.com.
Follow bproauto and company news and video on:
bproauto brand: www.bproautoparts.com
Facebook: https://www.facebook.com/bproautoparts
LinkedIn: https://www.linkedin.com/company/bproautoparts/
YouTube: https://www.youtube.com/@bproautoparts
View original content to download multimedia:https://www.prnewswire.com/news-releases/bproauto-continues-growing-as-a-top-notch-source-of-original-equipment-backed-aftermarket-parts-302293065.html
SOURCE Stellantis
Ampersand Capital Partners Named to Inc.’s 2024 List of Founder-Friendly Investors
D2K Traffic Welcomes Jodie Braskich as Chief Operating Officer
bproauto Continues Growing as a Top-notch Source of Original Equipment-backed Aftermarket Parts
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