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Flux Power Holdings ( (FLUX) ) has provided an announcement.
Flux Power Holdings reported its fiscal year 2024 financial results, highlighting a decrease in revenue to $60.8 million from $66.5 million in the previous year, but an improved gross profit of $17.2 million. The company completed the restatement of past financials, identifying $5.2 million in cumulative adjustments, primarily from excess and obsolete inventory, without impacting cash flow. Despite delays in order shipments due to higher interest rates and geopolitical uncertainties, Flux Power remains optimistic about future growth and profitability, supported by a $17.5 million order backlog as of December 31, 2024.
More about Flux Power Holdings
Flux Power Holdings, Inc. is a developer of advanced lithium-ion energy storage solutions, focusing on the electrification of commercial and industrial equipment.
YTD Price Performance: -2.87%
Average Trading Volume: 97,087
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $28.69M
Learn more about FLUX stock on TipRanks’ Stock Analysis page.
