Electrovaya Reports Q1 FY 2025 Financial Results

Electrovaya, a leader in lithium-ion battery technology, announced its Q1 FY 2025 financial results. The company reported revenues of $11.2 million, slightly down from the previous year's $12.1 million, but marked its seventh consecutive quarter of positive Adjusted EBITDA at $0.6 million.

Gross margins improved to 30.5%, and the company's working capital reached a positive $12.6 million, contrasting with the previous year's negative working capital. Electrovaya highlighted its strengthened financial position with cash reserves of $8.2 million and the repayment of all debts tied to its Jamestown property.

Strategically, Electrovaya secured a $50.8 million loan from the U.S. Export-Import Bank and raised $12.8 million through an equity offering, aiding their expansion in U.S. manufacturing. The company reaffirmed its FY 2025 revenue guidance exceeding $60 million, with strong orders supporting this forecast.