Flux Power Holdings ( (FLUX) ) has released its Q4 earnings. Here is a breakdown of the information Flux Power Holdings presented to its investors.
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Flux Power Holdings, Inc., listed on NASDAQ as FLUX, specializes in the development of advanced lithium-ion energy storage solutions primarily for commercial and industrial equipment electrification. The company is noted for its commitment to sustainability and innovation in battery technology.
In its fiscal year 2024 earnings report, Flux Power Holdings reported a decline in revenue due to shipment delays and market conditions, while achieving improvements in gross profit margin and adjusted EBITDA. These results were influenced by strategic shifts and initiatives aimed at enhancing profitability and operational efficiency.
Key financial highlights for the fiscal year 2024 include revenue of $60.8 million, a decrease from the previous year, while gross profit rose to $17.2 million with a margin improvement to 28%. Adjusted EBITDA also showed a positive trend, reducing losses from $4.7 million to $4.0 million. The company addressed financial restatements and emphasized its strategic focus on improving gross margins and expanding market reach.
Looking forward, Flux Power’s management remains optimistic, projecting growth and profitability improvements in fiscal year 2025 and beyond. This outlook is supported by an order backlog of $17.5 million and efforts to enhance product offerings, sales strategies, and partnerships, positioning the company for continued success in the energy storage sector.
