Electrovaya Reports Record Revenue of $44.1 Million Over $3.2 million in Adjusted EBITDA1 with an Operating Profit of $1.2 million for Fiscal 2023; Two-year Revenue CAGR of 100%;
Fiscal 2024 Guidance of $65 to 75 million underpinned by increasing order backlog and an updated Three Year Strategic Supply Agreement with two of the largest OEMs in the Material Handling sector
Expects continued strong growth into Fiscal 2025 and beyond supported by new high voltage battery system product lines and anticipated capacity expansion
TORONTO, ON / ACCESSWIRE / January 3, 2024 /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 fourth quarter and fiscal year ended September 30, 2023 ("Q4 FY2023" & "FY 2023", respectively). All dollar amounts are in U.S. dollars unless otherwise noted.
Electrovaya Reports Record Revenue of $44.1 Million for Fiscal Year 2023; Up 171% Y/Y (accesswire.com)