Overview
Electrovaya fiscal Q3 revenue grows 67% y/y to $17.1 mln
Adjusted EBITDA rises 387% y/y to $2.9 mln, ninth consecutive positive qtr
Co reaffirms fiscal 2025 revenue guidance exceeding $60 mln
Outlook
Electrovaya reaffirms FY 2025 revenue guidance exceeding $60 mln
Company expects strong growth driven by demand from major end users
Electrovaya anticipates continued profitability and scaling operations
Result Drivers
OEM PARTNERS - Continued strong demand from OEM partners and end-customers in the material handling sector contributed to revenue growth
MANUFACTURING EXPANSION - Expanded manufacturing capacity with a second shift and new assembly operations to meet growing demand
TECHNOLOGY ADVANCEMENTS - Advancements in Infinity technology and expansion into new markets like robotics and airport equipment drive future growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| $17.10 mln |
|
Q3 Net Income |
| $900,000 |
|
Q3 Adjusted EBITDA |
| $2.90 mln |
|
Q3 Gross Margin |
| 30.8% |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Electrovaya Inc is $7.25, about 30.6% above its August 12 closing price of $5.03
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nACSSYJt6a