CA Market News
2月前
Electrovaya Reports Fiscal Year Q2 2026 ResultsMay 14, 2026 4:00 PM
ACCESS NewswireQuarterly Revenue of $18M up 20%YoY; Adjusted EBITDA1 of 2.8$M, up 41% YoY, and Net Profit of $1M ($0.02/share)Commercial Robotics Shipments Underway; Energy Storage Systems Initiative Advances with Recent Department of Energy Project and Multiple Products in Development TORONTO, ON / ACCESS Newswire / May 14, 2026 / Electrovaya Inc. ("Electrovaya" or the "Company") (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today reported its financial results for the first quarter and six month period ended March 31, 2026 ("Q2 FY 2026"). All dollar amounts are in U.S. dollars unless otherwise noted. Financial Highlights:Revenue for Q2 FY 2026 was $18.0 million, compared to $15.0 million in Q2 2025. An increase of $3.0 million or 20% year over year. Revenue for the six months ending March 31, 2026, was $33.6 million, compared to $26.2 million in the prior year. An increase of $7.4 million or 28% year over year. The Company experienced supply chain delays in the later part of the quarter leading to a slowdown in production and shipments, leading to $1.4 million of finished goods that could not be recognized as revenue.Gross margin for Q2 FY 2026 was 33.4%, compared to 31.1% in Q2 2025. An increase of 230 basis points. The gross margin for the six months ending March 31, 2026, was 33.2% compared to 30.9% in the prior year. An increase of 230 basis points.Adjusted EBITDA1 for Q2 FY 2026 was $2.8 million, compared to $2.0 million in Q2 2025, an increase of $0.8 million or 41%. Adjusted EBITDA1. for the six months ended March 31, 2026, was $4.8 million compared to $2.6 million in the prior year, an increase of 89%. Q2 2025 was the Company's twelfth consecutive quarter of positive Adjusted EBITDA1.Net profit for Q2 FY 2026 was $1.0 million compared to a net profit of $0.8 million in Q2 2025, an increase of $0.2 million. Net profit for the six months ending March 31, 2026, was $2.1 million compared to $0.4 million in the prior year. Earnings per share for the six months ended March 31, 2026, was $0.04 compared to $0.01 in the prior year.The Company generated positive cash provided by operating activities of $4.3 million for the six months ended March 31, 2026, compared to $3.2 million generated in the prior year.The closing cash balance for Q2 FY 2026 was $20.4 million (non-restricted) compared to $6.4 million in the prior year, an increase of $13.9 million.Key Operational and Strategic Highlights- Q1 FY2026 & Subsequent Events:Business Development ActivitiesSuccessfully completed UL2580 safety certification for six models of its next-generation high-voltage lithium-ion battery systems. Likely the first Company to achieve this level of certification for high voltage vehicular battery systems in its target segment, further strengthening its leadership in heavy-duty, mission critical applications.Energy storage products are becoming a cornerstone of the Company's long-term strategy, with its technology well positioned to support mission-critical applications including data centers and high-value commercial and industrial sites. The Company has added dedicated resources to these development efforts and is targeting scaled deliveries of ITC- and FEOC-compliant products in the first half of 2027.Initial deliveries for robotic applications have commenced to a major robotics OEM. The Company is also working with several additional OEMs at earlier stages of evaluation and development, and expects robotics to become an increasingly important component of its long-term growth outlook.Defense sector activity is becoming increasingly meaningful to the Company's business outlook. Electrovaya expects revenues associated with one global defense contractor to ramp to multi-million-dollar levels in 2027. The Company is also engaged with two additional defense contractors that are evaluating Electrovaya's battery technology for multiple use cases.Product & Technology Development ActivitiesElectrovaya is advancing both AC-coupled 1500VDC and DC-coupled 800VDC architectures for its next-generation energy storage systems. These platforms are being engineered to meet UL9540A certification standards while supporting materially higher power densities than typical lithium-ion energy storage systems.Continued progress with next generation ceramic-separator development to deliver increased performance and thermal stability with planned scaled up manufacturing in Canada planned for 2027. Solid-state battery development accelerating since updated infrastructure and dry room was installed in March.Development of an ultra-fast charging lithium-ion cell and accompanying battery system continues to progress. The technology integrates a next-generation anode with the Company's Infinity platform to deliver enhanced safety, long cycle life, and charging times of approximately five minutes. In-house testing of prototype cells is ongoing and has successfully demonstrated the targeted charging capability.Development of prototype modules and battery packs with ultra-fast charging technology has commenced, with potential end markets including robotics, data center infrastructure support, and other high-power industrial applications. Sampling is targeted for 2026, with commercial availability expected in 2027.Jamestown Manufacturing Expansion UpdateSite upgrades and construction in progress including a significant portion of dry room construction.Head of Jamestown cell manufacturing operations along with other senior managers have been hired.Management Commentary:"Despite some supply chain disruptions stemming from recent geopolitical events, we continued steady progress during the quarter with respect to our financial, technology and business goals." stated Dr. Raj DasGupta, CEO of Electrovaya."We continue to advance our technology and product portfolio, spanning ceramic separator technologies through to new software solutions. Our most significant development effort is focused on energy storage products, which are expected to become a showcase of the Company's integrated battery system, cell, and software technologies, delivering differentiated solutions for mission-critical energy storage applications.""Even with the issues we saw in the quarter, we delivered strong year over year revenue growth of more than 20% for the quarter and over 28% for the six month period. This boosted Adjusted EBITDA1, achieved a Net Profit of $1 million, and continued our trend of positive earnings per share at $0.02 for the quarter and $0.04 for the six month period" stated John Gibson, Electrovaya's CFO. "The Jamestown build out is still on track to commence assembly operations this summer. We are drawing on the EXIM facility and utilizing the BMO facility to support general operations."Positive Financial Outlook & Fiscal 2026 Guidance:The Company anticipates continued growth into FY2026 with estimated revenue growth to exceed 30% over FY 2025 (in excess of $83 million) driven by continuing demand from the Company's largest end users of material handling batteries and our entry into additional market verticals. This guidance is prepared by taking into account its existing purchase orders, along with anticipated pipeline from its key end users and customers. This guidance may be affected by a percentage of anticipated revenue that potentially may be deferred to FY 2027. Revenue guidance is subject to change and is made barring any unforeseen circumstances, including evolving geopolitical and economic conditions that have recently emerged and may impact supply chains, customer demand, and the timing of revenue realization. See "Forward-Looking Statements."Selected Annual Financial Information for the Quarter ended March 31, 2026 and 2025:Results of Operations(Expressed in thousands of U.S. dollars)Summary Financial Position(Expressed in thousands of U.S. dollars) Cash flow statement(Expressed in thousands of U.S. dollars) 1 Non-IFRS Measure: Adjusted EBITDA is defined as income/(loss) from operations, plus stock-based compensation costs and depreciation and amortization costs. Adjusted EBITDA does not have a standardized meaning under IFRS. Therefore it is unlikely to be comparable to similar measures presented by other issuers. Management believes that certain investors and analysts use adjusted EBITDA to measure the performance of the business and is an accepted measure of financial performance in our industry. It is not a measure of financial performance under IFRS, and may not be defined and calculated in the same manner by other companies and should not be considered in isolation or as an alternative to IFRS measures. The most directly comparable measure to Adjusted EBITDA calculated in accordance with IFRS is income (loss) from operations.The Company's unaudited consolidated Financial Statements and Management Discussion and Analysis for the first quarter ended March 31, 2026 are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov, as well as on the Company's website at www.electrovaya.com.Conference Call & Webcast details:?Date: Thursday, May 14, 2026Time: 5:00 pm. Eastern Time (ET)Toll Free: 877-545-0320International: 973-528-0002Participant Access Code: 131132Webcast link: https://www.webcaster5.com/Webcast/Page/2975/54003To help ensure the conference begins on time, please dial-in 10 minutes before the scheduled start of the call. For those unable to participate, a replay of the conference call will be available for two weeks, from May 14, 2026, through May 28, 2026. To access the replay, the dial-in number is 877-481-4010 or 919-882-2331 and enter passcode 54003.Investor and Media Contact:?????Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
CA Market News
2月前
Electrovaya Announces Date for Q2-2026 Financial Results & Conference CallMay 6, 2026 9:25 AM
ACCESS NewswireTORONTO, ON / ACCESS Newswire / May 6, 2026 / Electrovaya Inc. (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that it will file and release its second quarter ending March 31, 2026, following the market close on Thursday, May 14, 2026. This will be followed by a conference call and webcast at 5:00 p.m. EST on the same day, presented by CEO, Dr. Raj DasGupta and CFO, John Gibson to discuss the financial results and provide a business update. Conference Call & Webcast details:?Date: Thursday, May 14, 2026Time: 5:00 pm. Eastern Time (ET)Toll Free: 877-545-0320International: 973-528-0002Participant Access Code: 131132Webcast link: https://www.webcaster5.com/Webcast/Page/2975/54003To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call. For those unable to participate in the conference call, a replay will be available for two weeks beginning on May 14, 2026, through May 28, 2026. To access the replay, the dial-in number is 877-481-4010 and 919-882-2331. The replay passcode is 54003.Investor and Media Contact:?????Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
US Market News
4月前
Electrovaya Achieves First UL 2580 Certification for High-Voltage Batter Systems in Its ClassMarch 10, 2026 7:00 AM
ACCESS NewswireLikely the first Company to achieve this level of certification for high voltage vehicular battery systems in its target segment, further strengthening its leadership in heavy-duty, mission critical applicationsTORONTO, ON / ACCESS Newswire / March 10, 2026 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced that it has successfully completed UL2580 safety certification for six models of its next-generation high-voltage lithium-ion battery systems. These systems are designed for integrated material handling vehicles supporting all-season outdoor environments. The newly certified battery platforms are powered by Electrovaya's Infinity Battery Technology and incorporate an advanced thermal management system specifically engineered to maintain safe and consistent performance across a wide operating environment.The UL2580 certification process involved some of the most stringent safety tests in the industry, including fire propagation testing, vibration, mechanical shock, short-circuit testing, and other destructive abuse tests. To the Company's knowledge, this represents the first high-voltage UL2580 certification, exemplifying Electrovaya's leadership position for battery safety."This certification represents an important milestone as we expand our product portfolio into higher-voltage battery systems," said Dr. Raj DasGupta, CEO of Electrovaya. "UL2580 is one of the most trusted safety standards in the battery industry, and achieving the first certification for high-voltage systems underscores the strength and safety of Electrovaya's Infinity Battery Technology."Electrovaya continues to advance its high-voltage product offerings to meet evolving customer requirements and to support the ongoing electrification of industrial vehicle fleets.Investor and Media Contact:?????Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
CA Market News
4月前
Electrovaya Announces Results of Annual Meeting of ShareholdersMarch 2, 2026 12:35 PM
ACCESS NewswireTORONTO, ONTARIO / ACCESS Newswire / March 2, 2026 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA),a lithium-ion battery technology and manufacturing company, is pleased to announce that all of the resolutions that shareholders were asked to consider at its 2025 Annual General Meeting held on February 27, 2026 in Toronto, Ontario, were approved. The six directors named in the management information circular of the Company, being Dr. Sankar Das Gupta, Dr. Raj Das Gupta, Dr. James Jacobs, Dr. Carolyn Hansson, Mr. Kartick Kumar, and Mr. Steven Berkenfeld were each elected as directors by over 98.7% of the votes cast for and less than 1.3% of the votes withheld at the Meeting for each director individually. Detailed results of the vote are set out below: NomineeVotes ForVotes WithheldPercentage of Votes ForPercentage of Votes WithheldDr. Sankar Das Gupta23,991,62742,06799.82%0.18%Dr. Carolyn Hansson23,724,006309,68898.71%1.29%Dr. James K. Jacobs23,873,595160,09999.33%0.67%Mr. Kartick Kumar23,869,370164,32499.32%0.68%Mr. Steven Berkenfeld24,009,29424,40098.82%1.18%Dr. Raj DasGupta24,014,57719,11799.92%0.08%MNP LLP, were re-appointed as the auditors of the Company.The special resolution to approve the increase to the options issuable under the Company's stock option plan was passed with 88.29% voting in favor and 11.71% voting against the resolution.The special resolution to approve the domestication of the Company to the United States was passed with 99.79% voting in favor and 0.21% voting against the resolution.Additional details areincluded in the report of voting results filed under the Company's profile on SEDAR at www.sedarplus.ca.Investor and Media Contact:?????Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
CA Market News
4月前
Electrovaya To Host Investor Webcast on March 5, 2026February 26, 2026 7:00 AM
ACCESS NewswireTORONTO, ON / ACCESS Newswire / February 26, 2026 / Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced that it will host an investor webcast presentation on March 5, 2026 at 2:00 PM EST. During the webcast, Dr. Raj DasGupta, CEO and John Gibson, CFO, will conduct an introductory presentation that will cover key aspects of Electrovaya's business including corporate strategy, business model, and industry-leading technology. After the formal presentation, investors will have an opportunity to ask relevant questions through an interactive Q&A portal.Webcast Link : https://us02web.zoom.us/webinar/register/WN_yxD4upe-RnmMDhzm0-f4AQInvestor and Media Contact :?????
Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
Pisd
5月前
Electrovaya Announces Date for Q1-2026 Financial Results & Conference Call
February 05 2026 - 8:30AM
TORONTO, ONTARIO / ACCESS Newswire / February 5, 2026 / Electrovaya Inc. (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that it will file and release its first quarter ending December 31, 2025, following the market close on Thursday, February 12, 2026. This will be followed by a conference call and webcast at 5:00 p.m. EST on the same day, presented by CEO, Dr. Raj DasGupta and CFO, John Gibson to discuss the financial results and provide a business update.
CA Market News
5月前
Electrovaya Announces Date for Q1-2026 Financial Results & Conference CallFebruary 5, 2026 8:30 AM
ACCESS NewswireTORONTO, ONTARIO / ACCESS Newswire / February 5, 2026 / Electrovaya Inc. (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that it will file and release its first quarter ending December 31, 2025, following the market close on Thursday, February 12, 2026. This will be followed by a conference call and webcast at 5:00 p.m. EST on the same day, presented by CEO, Dr. Raj DasGupta and CFO, John Gibson to discuss the financial results and provide a business update.Conference Call & Webcast details:?Date: Thursday, February 12, 2026Time: 5:00 pm. Eastern Time (ET)Toll Free: 888-506-0062International: 973-528-0011Participant Access Code: 824578Webcast link: https://www.webcaster5.com/Webcast/Page/2975/53605To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call.?For those unable to participate in the conference call, a replay will be available for two weeks beginning on February 12, 2026, through February 26, 2026. To access the replay, the dial-in number is 877-481-4010 and 919-882-2331. The replay passcode is 53605.Investor and Media Contact:?????Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
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