Electrovaya Achieves First Profitable Year with Record Revenue

Electrovaya Inc. reported its fiscal year 2025 results, marking its first profitable year with record revenue of $63.8 million, up 43% year-over-year. The company achieved an adjusted EBITDA of $8.8 million and a net profit of $3.3 million, a significant turnaround from a $1.5 million loss in FY 2024.

The company strengthened its balance sheet through strong operational performance and equity issuances. It secured new funding facilities, including $25 million from BMO and $51 million from EXIM, enhancing financial flexibility.

Electrovaya expanded its product range across robotics, ground support equipment, and energy storage, supported by developments at its Jamestown manufacturing facility. The company anticipates continued growth, projecting a 30% increase in revenues for FY 2026, driven by sustained demand and market expansion.