Electrovaya Stock Earnings Reports

Electrovaya reported a strong start to fiscal 2026 with Q1 revenue of $15.5M, up 39% year-over-year, gross margin of 32.9% (up 240 bps), adjusted EBITDA of ~$2M, and net income of about $1M — the fourth consecutive profitable quarter. Management highlighted progress across core material handling (OEM integrated high-voltage systems beginning commercial deliveries in March 2026), robotics (commercial deliveries of 48V systems begun), and defense (initial deliveries and expectation that defense will be a meaningful contributor this year). Product development is advancing on ultra-fast charging Infinity cells targeting five-minute charge/discharge commercialization in 2027, 800V DC energy storage systems for data center ride-through, and next-generation ceramic separators with domestic scale-up plans. Jamestown, NY facility upgrades and dry room equipment installation are underway; cell production is expected to begin ramping into late calendar 2026 / fiscal 2027 with module/system volumes from the site possible earlier. Financially, the company bolstered its balance sheet via a $28M equity raise, $22.7M cash on hand, $9M available on its banking facility, $16.4M drawn of a $50M EXIM loan (no principal payments until March 31, 2027), and positive operating cash flow of $1.7M. Management reaffirmed fiscal 2026 revenue guidance of 30% growth and expects to maintain improved margins while investing in capacity, new verticals, and R&D.