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Electrovaya
(TSX:ELVA)
Electrovaya (ELVA) vs. S&P 500 (SPY)
Electrovaya Business Overview & Revenue Model
Electrovaya Financial Statement Overview
| Breakdown | |||||
| TTM | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | Sep 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 32.97M | 44.59M | 43.37M | 19.17M | 9.92M | 13.66M | Gross Profit |
| 9.82M | 13.66M | 11.16M | 4.33M | 2.26M | 4.07M | EBIT |
| -64.00K | 729.00K | 1.20M | -7.09M | -7.28M | -3.90M | EBITDA |
| 2.10M | 2.92M | 1.25M | -6.42M | -4.55M | 4.42M | Net Income Common Stockholders |
| -858.00K | -1.49M | -1.48M | -6.55M | -7.53M | 1.11M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 8.17M | 781.00K | 1.03M | 626.00K | 4.20M | 1.12M | Total Assets |
| 45.07M | 39.48M | 36.51M | 18.08M | 14.98M | 10.64M | Total Debt |
| 17.37M | 20.77M | 19.03M | 19.11M | 11.53M | 12.81M | Net Debt |
| 9.20M | 19.99M | 18.00M | 18.49M | 7.33M | 11.69M | Total Liabilities |
| 25.01M | 30.90M | 29.37M | 24.00M | 16.67M | 19.36M | Stockholders Equity |
| 20.06M | 8.59M | 7.15M | -5.92M | -1.70M | -8.71M |
| Cash Flow | Free Cash Flow | ||||
| 1.99M | 913.00K | -5.36M | -11.86M | -8.68M | -3.94M | Operating Cash Flow |
| 2.03M | 1.04M | -4.86M | -11.81M | -8.12M | -3.90M | Investing Cash Flow |
| -281.00K | -666.00K | -903.00K | -423.00K | -560.00K | -115.00K | Financing Cash Flow |
| 5.37M | -629.00K | 6.20M | 9.52M | 10.92M | 3.56M |
Electrovaya Technical Analysis
Electrovaya Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $8.16B | 12.81 | 0.47% | 3.07% | 3.83% | -16.36% | |
58 Neutral | $135.10M | ― | -12.31% | ― | -8.28% | -1633.33% | |
55 Neutral | C$12.55M | ― | -65.49% | ― | 5.42% | -55.46% | |
36 Underperform | C$60.77M | ― | 248.46% | ― | ― | 18.35% | |
30 Underperform | C$66.86M | ― | -96.97% | ― | ― | -4.38% |
Electrovaya Earnings Call Summary
Electrovaya Corporate Events
Electrovaya has secured a $50.8 million direct loan from the Export-Import Bank of the United States to expand its battery manufacturing facility in Jamestown, New York. This funding, combined with additional financial resources, will support the company’s aggressive expansion plans in the U.S., creating over 250 jobs and enhancing its export capabilities to countries like Japan, Canada, and Australia. The expansion will also contribute to the development of U.S. supply chains for lithium-ion battery production.
Electrovaya has secured a $20 million credit facility from the Bank of Montreal to enhance its growth and reduce costs. This new facility, which includes a three-year term and an option to expand by $5 million, replaces existing debt and lowers capital costs, thus strengthening Electrovaya’s financial position. It supports operations in both the U.S. and Canada and enables financing from the U.S. Export-Import Bank for manufacturing investments in Jamestown. This strategic financial move is expected to bolster Electrovaya’s expansion plans and facilitate its pursuit of vertically integrated lithium-ion battery manufacturing in the U.S.
Electrovaya has secured an additional US$4.2 million order for its lithium-ion batteries from a rapidly growing cold storage logistics operator in the United States. This repeat order underscores the customer’s reliance on Electrovaya’s advanced battery technology, with over $13 million in purchases and plans for further expansion, highlighting the company’s strengthening position in the energy storage market and its potential impact on the logistics sector.
Electrovaya Inc. has announced the early startup of its battery system assembly operations in Jamestown, New York, set for April 2025. This initiative marks the first phase of a significant investment in American manufacturing, with plans to invest over $70 million in their Jamestown facility. This expansion is driven by increasing demand for Electrovaya’s products in heavy-duty and mission-critical electrified applications, positioning the company as a key independent lithium-ion battery manufacturer in the U.S.
Electrovaya Inc. reported strong financial results for Q1 2025, with a revenue of $11.2 million and a positive adjusted EBITDA for the seventh consecutive quarter. The company has strengthened its balance sheet, improved its financial position, and is making significant progress in securing financing to support its U.S. manufacturing expansion in Jamestown, New York. Electrovaya reaffirmed its fiscal 2025 revenue guidance exceeding $60 million, driven by a strong order pipeline. This positions the company for continued growth and reinforces its strategic initiatives in the energy storage industry.
Electrovaya Inc. has announced that it will release its first-quarter financial results for the period ending December 31, 2024, on February 13, 2025, followed by a conference call led by its CEO and CFO. This announcement highlights the company’s ongoing transparency with investors and its commitment to keeping stakeholders informed about its financial performance and business developments.
Electrovaya Inc. has initiated capital investments for its new Jamestown battery manufacturing facility, starting with the purchase of assembly equipment and hiring personnel, aiming to begin battery system assembly by the second quarter of 2025. This move is in response to growing demand for lithium-ion batteries in heavy-duty and mission-critical applications, and is part of Electrovaya’s strategy to expand its operations in the U.S., enhancing its market position in the field of energy transformation.
Electrovaya Inc. has successfully closed the full exercise of an over-allotment option, raising an additional $1.7 million from its recent public offering, bringing the total proceeds to approximately $12.8 million. The funds will be used to meet loan conditions, refinance existing debt, and cover costs associated with its manufacturing facility in Jamestown, New York.
Electrovaya Inc., a leader in lithium-ion battery technology, has successfully closed a public offering, raising approximately $11.1 million. The company plans to use the funds to meet conditions related to a loan from the Export-Import Bank of the United States and to repay existing financial obligations.
Electrovaya Inc., a key player in lithium-ion battery technology, has announced a public offering of common shares priced at US$2.15 each, aiming to raise approximately US$11.1 million. The proceeds are intended for loan collateral, refinancing, and purchasing a manufacturing facility. The offering is expected to close by December 18, 2024, pending customary approvals.
Electrovaya Inc., a leader in lithium-ion battery technology, has announced an underwritten public offering of common shares to fund strategic financial initiatives, including loan conditions and facility purchases. The offering will be conducted in the U.S. and Canada, with major financial firms acting as co-lead managers. The terms and completion of the offering depend on market conditions and customary closing requirements.
Electrovaya Inc. has achieved UL2580 recognition for its Infinity Series Lithium Ion Phosphate cells, highlighting the safety and reliability of its battery technology. This certification confirms Electrovaya’s commitment to meeting the highest safety standards for electric vehicle applications. The company plans to manufacture these cells alongside its NMC products at a new facility in Jamestown, New York.
Electrovaya has reported a solid financial performance for fiscal year 2024, with revenue reaching $44.6 million and an adjusted EBITDA of $4 million, marking its sixth consecutive quarter of positive earnings. The company also announced a $51 million loan approval from the Export-Import Bank of the United States to support its lithium-ion cell and battery manufacturing facility in New York.