Solid Outlook for the Coming Years As EV demand and supply continue to grow and more people begin to adopt the lifestyle, charging infrastructure in Canada has been lagging behind the adoption. It’s at the point where 1 in every 8 vehicles sold is a type of plug-in EV/hybrid. Additionally, the government recently announced a plan to install hundreds of thousands of EV chargers across Canada after multiple reports of Canada being one of the worst countries based on EV readiness, as highways don’t have the necessary charging infrastructure to make the long drives possible.
$HC.NE (Hypercharge Networks) is the first public Canadian EV charging company with big plans to help convert the country through their charging network, and they’re extremely ambitious.
- Current EOY charger projections are 750 to several thousand by next year.
- $6M cash and an already doubled sales forecast over year 1.
- Already in 73 locations spanning 7 provinces and 1 state.
- $HC.NE handles all of the billing for the customer, all of the payments, all of the allocation of energy, allowing them to generate annual recurring revenue rather than being stuck behind a one-time sale model.
- $8M revenue run rate in 2023 and $15-$20M with breakeven EBITDA in 2024, the fundamentals look good on the growth and profitability side.
https://investingwhisperer.com/hypercharge-hcneo-has-best-solution-to-keep-1-billion-evs-moving/
Overall, with a strong growth pipeline, significant insider ownership, and current revenue, the $30M market cap provides a significant opportunity considering competitors in the space that aren’t expanding as rapidly as $HC.NE.