Quarterly ResultMay 15, 2026, 06:12 AM
Electrovaya Q2 FY2026 Net Profit $1.0M; Revenue +20%; FY26 Guidance +30%
AI Summary
Electrovaya Inc. reported a strong Q2 FY2026 with net profit reaching $1.0 million and Adjusted EBITDA increasing 41% to $2.8 million. The company achieved a gross margin of 33.4% and saw its cash balance rise to $20.4 million. Operationally, Electrovaya completed UL2580 safety certification for six battery systems, commenced initial deliveries for robotic applications, and expects defense sector revenues to ramp up significantly in 2027. The company maintains a positive outlook, projecting FY2026 revenue growth to exceed 30% over FY2025.
Key Highlights
- Electrovaya Q2 FY2026 net profit was $1.0 million, up from $0.8 million in Q2 FY2025.
- Adjusted EBITDA for Q2 FY2026 increased 41% to $2.8 million.
- Gross margin for Q2 FY2026 improved to 33.4%, a 230 basis point increase year-over-year.
- Revenue growth for the six months ended March 31, 2026, was over 28%.
- Closing cash balance for Q2 FY2026 was $20.4 million, an increase of $13.9 million.
- Successfully completed UL2580 safety certification for six high-voltage lithium-ion battery systems.
- Targeting scaled deliveries of ITC- and FEOC-compliant energy storage products in H1 2027.
- FY2026 revenue growth is anticipated to exceed 30% over FY2025, surpassing $83 million.
Price Impact
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