Canada's Electrovaya Q1 revenue up 39% yr/yr

Overview

• Lithium-ion battery firm's Q1 FY 2026 revenue rose 39% yr/yr to $15.5 mln

• Adjusted EBITDA increased 265% yr/yr to $2 mln

• Company reaffirms fiscal 2026 revenue guidance exceeding $83 mln

Outlook

• Electrovaya reaffirms fiscal 2026 revenue guidance exceeding $83 mln

• Electrovaya targets commercialization of ultra-fast charging technology in 2027

Result Drivers

• MARKET EXPANSION - Co initiated deliveries to new markets, including defense and robotics, and established a subsidiary in Japan to support Asia-Pacific growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for Electrovaya Inc is $9.50, about 2% above its February 11 closing price of $9.31

• The stock recently traded at 46 times the next 12-month earnings vs. a P/E of 30 three months ago

Press Release: ID:nACS2VwdGa

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