Quarterly ResultMay 15, 2026, 06:18 AM
Electrovaya H1 Net Income +404% to $2.06M; Revenue +28%
AI Summary
Electrovaya Inc. reported strong financial results for the first half of fiscal year 2026, with net income surging by 404% to $2.06 million and revenue increasing by 28% to $33.60 million. The company also saw significant growth in its gross margin and cash position. Progress on the Jamestown manufacturing facility continues, with substantial deposits made for equipment, and the company reiterates its FY2026 revenue growth guidance of over 30%.
Key Highlights
- H1 FY2026 Net Income increased 404% to $2.06 million from $0.41 million YoY.
- H1 FY2026 Revenue grew 28% to $33.60 million from $26.19 million YoY.
- Q2 FY2026 Revenue increased 20% to $18.05 million from $15.02 million YoY.
- H1 FY2026 Gross Margin rose 38% to $11.15 million from $8.08 million YoY.
- Cash and cash equivalents increased to $20.38 million as of March 31, 2026, from $6.36 million.
- Deposits for Jamestown equipment reached $21.67 million, up from $6.61 million.
- EXIM loan drawn for Jamestown facility increased to $19.76 million from $3.06 million.
- Reiterated FY2026 revenue growth guidance of over 30% (exceeding $83 million).
Price Impact
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