SHYFT GROUP, INC.
theshyftgroup.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2025 10-Q, filed Apr 24, 2025. Its latest SEC filing is a 425 from Jul 14, 2025.
10-Q for Q1 FY2025, filed Apr 24, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Builds commercial delivery vehicles and vocational upfits, plus specialty vehicles such as truck bodies and motorhome chassis for commercial and government fleets, vehicle makers and dealers.
10-K for FY2024, filed Feb 20, 2025We are a niche market leader in specialty vehicle manufacturing and assembly, catering to the commercial vehicle and recreational vehicle…View ↗
We manufacture commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen…View ↗
Our Specialty Vehicles segment includes a portfolio of business that provides service bodies, RV chassis, vocational upfit and contract…View ↗
We custom manufacture diesel chassis for luxury Class A motorhome to the individual specifications of our motorhome OEM customers under the…View ↗
How Did They Make Money?
Customers buy vehicles, bodies, parts, upfits and service. Shyft earns revenue as it builds vehicles on customer-owned chassis or completes upfit and field work, when company-owned vehicles and parts ship, and over the term of separately priced service coverage paid at vehicle shipment or when coverage starts.
10-K for FY2024, filed Feb 20, 2025Our walk-in vans and truck bodies are generally built on a chassis that is owned and controlled by the customer. Due to the customer…View ↗
Revenue for upfit and field service contracts is recognized over time, as equipment is installed in the customer’s vehicle or as repairs…View ↗
Revenue for parts sales for all segments is recognized at the time that control has passed to the customer, which is generally when the…View ↗
For certain of our vehicles and chassis, we sell separately priced service contracts that provide roadside assistance or extend certain…View ↗
We recognize revenue and the corresponding cost of products sold on the sale of motorhome chassis and service bodies where we own the…View ↗
Revenue for service bodies where the customer owns the chassis, upfit and field service contracts is recognized over time, as equipment is…View ↗
$786.2M
-
10-K for FY2024, filed Feb 20, 2025
$786.2M ↗
Who Were Their Customers?
Fleet vehicles are sold to leasing and national or fleet accounts, through independent truck dealers, and directly to retail customers in select markets. Specialty chassis are sold to OEMs; service bodies go through dealers and OEM pools or directly to consumers.
10-K for FY2024, filed Feb 20, 2025
Did Revenues Turn Into Profits?
No. It lost $2.8M in .
10-K for FY2024, filed Feb 20, 2025
How Were They Changing?
- Net income
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Sources
10-Q for Q1 FY2025, filed Apr 24, 2025
−$1.4MView ↗
- ▼ −69% (Loss)
- vs −$4.7M in Q1 FY2024
10-Q for Q1 FY2025, filed Apr 24, 2025
Open tableView ↗
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Jul 1, 2025
Merger with Aebi Schmidt closed; Shyft became a subsidiary
Shyft requested Nasdaq suspension and delisting of its common stock in connection with the closing.
Sources
8-K, filed Jul 1, 2025
As described in the Introductory Note of this Current Report on Form 8-K, on July 1, 2025, the Merger was completed. Upon the consummation…View ↗
Grew. Revenue grew 16% in 4 years, from $676M in to $786.2M in , about 4% a year.
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