Electrovaya sees FY25 revenue to exceed $60M, consensus $76.5M

The Company anticipates strong growth into FY2025 with estimated revenues to exceed $60M driven by renewed demand from the Company’s largest end users of material handling batteries. This guidance considers its existing purchase orders, along with anticipated orders in its pipeline from key end users and customers. This guidance also takes into consideration a percentage of anticipated revenue that may be deferred to FY 2026 “Electrovaya (ELVA), with its core technology advantages and proven performance, is poised to lead mission-critical and heavy-duty energy storage solutions,” said Dr. Raj DasGupta, Electrovya’s CEO. “With growing demand from existing and new customers, we expect robust growth in 2025 and onwards. This includes increasing revenue, enhancing profitability, and expanding domestic lithium-ion cell manufacturing in the U.S.” “Reaching record revenue, achieving six consecutive quarters of positive adjusted EBITDA1, generating positive cash flow from operations, and removing the going concern note are pivotal milestones for Electrovaya,” stated John Gibson, Electrovaya’s CFO. “These achievements solidify our financial position and set the stage for anticipated revenue growth exceeding $60 million with profitability in Fiscal 2025, driven by strong demand from key end users. Finally, the approved $51 million direct loan by the Export-Import Bank of the United States will support building up additional domestic manufacturing capacity and vertical integration to support our anticipated growth beyond 2026. “