Electrovaya reports FY24 revenue $44.6M, consensus $44.6M

Adjusted EBITDA was $4.1M, a significant improvement of $0.8M compared to $3.3 million in FY 2023. Q4 2024 was the Company’s sixth consecutive quarter of positive Adjusted EBITDA. The Company generated positive cash from operating activities of $1.0 million for FY 2024, compared to cash used in operating activities of $5.2 million in FY2023, a significant improvement in operating cash flow of $6.2 million. Given the improved financial performance of the Company, management and the Company’s auditors concluded that the going concern note in the company’s financial statements is no longer required.