Board Change • May 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Kartick Kumar was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • May 20
Second quarter 2026 earnings released: EPS: US$0.021 (vs US$0.021 in 2Q 2025) Second quarter 2026 results: EPS: US$0.021 (in line with 2Q 2025). Revenue: US$18.0m (up 20% from 2Q 2025). Net income: US$1.02m (up 23% from 2Q 2025). Profit margin: 5.6% (up from 5.5% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Tillkännagivande • May 06
Electrovaya Inc. to Report Q2, 2026 Results on May 14, 2026 Electrovaya Inc. announced that they will report Q2, 2026 results After-Market on May 14, 2026 Tillkännagivande • Feb 13
Electrovaya Inc. Reaffirms Earnings Guidance for the Fiscal Year 2026 Electrovaya Inc. reaffirmed earnings guidance for the fiscal year 2026. For the period, the company anticipates continued strong growth into FY2026 with estimated revenue growth to exceed 30% over Fiscal Year 2025 (in excess of $83 million) driven by sustained demand from the Company's largest end users of material handling batteries and entry into additional market verticals. This guidance reflects existing purchase orders, and anticipated pipeline of key customers. This guidance also takes into consideration a percentage of anticipated revenue that may be deferred to Fiscal Year 2027. This guidance is subject to change and is made barring any unforeseen circumstances. See "Forward-Looking Statements". Tillkännagivande • Feb 05
Electrovaya Inc. to Report Q1, 2026 Results on Feb 12, 2026 Electrovaya Inc. announced that they will report Q1, 2026 results After-Market on Feb 12, 2026 Buy Or Sell Opportunity • Jan 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 33% to €7.40. The fair value is estimated to be €6.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 26% per annum. Earnings are also forecast to grow by 38% per annum over the same time period. Board Change • Dec 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Kartick Kumar was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Tillkännagivande • Dec 29
Electrovaya Inc., Annual General Meeting, Feb 27, 2026 Electrovaya Inc., Annual General Meeting, Feb 27, 2026. Tillkännagivande • Nov 25
Electrovaya Inc. to Report Q4, 2025 Results on Dec 10, 2025 Electrovaya Inc. announced that they will report Q4, 2025 results After-Market on Dec 10, 2025 Tillkännagivande • Jul 28
Electrovaya Inc. to Report Q3, 2025 Results on Aug 13, 2025 Electrovaya Inc. announced that they will report Q3, 2025 results After-Market on Aug 13, 2025 Tillkännagivande • Jul 10
Electrovaya Inc. Achieves UL2580 Certification for over 400 Next-Generation Lithium-Ion Battery Models Electrovaya Inc. announced that it has successfully completed UL2580 certification for 448 distinct models of its latest generation 24V, 36V, and 48V lithium-ion battery systems. The certification includes battery systems composed of its current 47Ah cell in addition to its 54Ah cell which will be mass produced at its facility in Jamestown, New York in 2026. The next generation models feature improved charge rates, energy density, ergonomics and overall performance. Notably, the new models also provide the highest energy densities of batteries used in the material handling industry, providing an additional competitive advantage. These next generation battery systems will start being made available to customers this year. The UL2580 certification involved some of the most stringent safety testing standards in the industry and included fire propagation testing, vibration, shock and short circuit testing amongst other destructive testing. Tillkännagivande • May 17
Electrovaya Inc. Reaffirms Revenue Guidance for Fiscal Year 2025 Electrovaya Inc. reaffirmed revenue guidance for fiscal year 2025. For the period, the company expects revenues to exceed $60 million driven by renewed demand from the Company's largest end users of material handling batteries. Tillkännagivande • Apr 24
Electrovaya Inc. to Report Q2, 2025 Results on May 14, 2025 Electrovaya Inc. announced that they will report Q2, 2025 results After-Market on May 14, 2025 Tillkännagivande • Apr 17
Electrovaya Inc. Appoints Donald R. Sadoway to the Board of Directors Electrovaya Inc. announced the appointment of Prof. Donald R. Sadoway to the Company's Board of Directors. Donald R. Sadoway is Professor of Materials Chemistry Emeritus in the Department of Materials Science and Engineering at the Massachusetts Institute of Technology. With a Ph.D. in Chemical Metallurgy from the University of Toronto he joined the MIT faculty in 1978. The author of over 180 scientific papers and inventor on 42 U.S. patents, his research is directed towards batteries for grid-scale storage and electric vehicles and towards environmentally sound metals extraction technologies. His accomplishments include the invention of the liquid metal battery for large-scale stationary storage and the invention of molten oxide electrolysis for carbon-free metals production. He is a co-founder of six companies: Ambri, Boston Metal, Lunar Resources, Avanti Battery, Pure Lithium, and Sadoway Labs. Online videos of his chemistry lectures hosted by MIT OpenCourseWare extend his impact on engineering education far beyond the lecture hall. Viewed over 2½ million times, his TED talk is as much about inventing inventors as it is about inventing technology. In 2012 Time magazine named him one of the 100 Most Influential People in the World. Tillkännagivande • Feb 15
Electrovaya Inc. Reaffirms Earnings Guidance for Fiscal Year Ending September 30, 2025 Electrovaya Inc. reaffirmed earning guidance for Fiscal year ending September 30, 2025. The Company anticipates revenue of approximately $60 million for the fiscal year ending September 30, 2025 (“FY 2025”), an increase of between approximately 35% over the revenue generated in FY2024 of $44 million. The revenue is anticipated to be generated primarily from sales of material handling battery systems. Tillkännagivande • Feb 03
Electrovaya Inc. to Report Q1, 2025 Results on Feb 13, 2025 Electrovaya Inc. announced that they will report Q1, 2025 results After-Market on Feb 13, 2025 Tillkännagivande • Jan 20
Electrovaya Inc., Annual General Meeting, Mar 28, 2025 Electrovaya Inc., Annual General Meeting, Mar 28, 2025. Buy Or Sell Opportunity • Jan 02
Now 25% undervalued Over the last 90 days, the stock has risen 19% to €2.36. The fair value is estimated to be €3.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 53% over the last 3 years. Earnings per share has grown by 68%. Tillkännagivande • Dec 17
Electrovaya Inc. Announces its Infinity Series Lithium Ion Phosphate Based Cell Have Successfully Achieves UL2580 Recognition Electrovaya Inc. announced that its Infinity Series Lithium Ion Phosphate (LFP) based cell have successfully achieved UL2580 recognition. This milestone underscores the exceptional safety and reliability of Electrovaya's battery technology, meeting the rigorous safety standards set by UL2580, including the stringent external fire test (projectile test). UL2580 is a globally recognized safety standard for rechargeable lithium-ion batteries in electric vehicles. The successful completion of UL2580 certification demonstrates that Electrovaya's LFP based Infinity cells have passed a comprehensive series of safety tests, ensuring they meet the highest safety benchmarks. Electrovaya's NMC based cells also have previously achieved the same certification. Electrovaya's LFP cells will be produced in parallel with its NMC based products at its planned cell manufacturing facility in Jamestown, New York. Tillkännagivande • Dec 06
Electrovaya Inc. to Report Q4, 2024 Results on Dec 12, 2024 Electrovaya Inc. announced that they will report Q4, 2024 results After-Market on Dec 12, 2024 Tillkännagivande • Nov 27
Electrovaya Inc. Provides Earnings Guidance for the Financial Year 2024 and for Financial Year 2025 Electrovaya Inc. provided earnings guidance for the financial year 2024. For the year 2024, Preliminary unaudited Fiscal Year 2024 revenue is estimated at USD 44.6 million.
For the year 2025, The Company anticipates strong growth into FY2025 with estimated revenues to exceed $60 million driven by renewed demand from the Company's largest end users of material handling batteries. Tillkännagivande • Oct 18
Electrovaya Inc. Receives Funding from Government of Canada Through Federal Economic Development Agency for Southern Ontario Electrovaya Inc. announced a CAD 2-million investment from the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). This funding will be used to support investments in automation, AI and capacity enhancements at Electrovaya's Mississauga, Ontario manufacturing facility. New Risk • Aug 19
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.6x net interest cover). Minor Risks Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Significant insider selling over the past 3 months (€245k sold). Market cap is less than US$100m (€63.1m market cap, or US$69.6m). Reported Earnings • Aug 15
Third quarter 2024 earnings released: US$0.009 loss per share (vs US$0.002 profit in 3Q 2023) Third quarter 2024 results: US$0.009 loss per share (down from US$0.002 profit in 3Q 2023). Revenue: US$10.3m (down 2.4% from 3Q 2023). Net loss: US$324.0k (down US$401.0k from profit in 3Q 2023). Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Breakeven Date Change • Aug 15
Forecast breakeven date pushed back to 2025 The 4 analysts covering Electrovaya previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of US$15.7m in 2025. Average annual earnings growth of 58% is required to achieve expected profit on schedule. Tillkännagivande • Aug 15
Electrovaya Inc. Revises Revenue Guidance for the Fiscal Year Ending September 30, 2024 Electrovaya Inc. revised revenue guidance for the fiscal year ending September 30, 2024. Due to previously announced risks associated with changes in delivery dates for battery system orders tied to new distribution center construction which have since transpired, the company has revised its anticipated revenue guidance to approximately $45 million for the fiscal year ending September 30, 2024. Tillkännagivande • Aug 05
Electrovaya Inc. to Report Q3, 2024 Results on Aug 13, 2024 Electrovaya Inc. announced that they will report Q3, 2024 results After-Market on Aug 13, 2024 Tillkännagivande • Jul 12
Electrovaya Inc.'s High Voltage Battery System Passes Fire Propagation Testing Electrovaya Inc. announced that it completed and passed fire propagation testing on two of its high voltage battery systems, each with over 50kWh in capacity. The testing was done in accordance with the UL2580 standard and one test was completed at an independent lab and the second completed in-house. This testing involved forcing a single cell in the battery system to thermal runaway through directly heating a cell. The passing result was the fire remained contained and did not spread within or outside of the battery system. A real world comparison would be if there was a fire within the battery system at a single cell level, but did not propagate and lead to a further fire. From the Company's understanding, in most cases, this type of scenario with competing battery suppliers would lead to large and well documented battery fires. Tillkännagivande • Jun 14
Electrovaya Launches Lithium Iron Phosphate (Lfp) Based Infinity Cell Electrovaya Inc. announced the launch of its first Infinity Series Lithium Ion Phosphate (LFP) based cell at its annual Battery Technology Day event. The newly developed EV-FP-44 cells, features LFP chemistry and retains the key competitive advantages of Electrovaya's Infinity technology with respect to enhanced cycle life and safety, while also providing lower costs. New Risk • Jun 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Market cap is less than US$100m (€89.3m market cap, or US$97.3m). New Risk • May 30
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Market cap is less than US$100m (€90.3m market cap, or US$97.6m). Reported Earnings • May 15
Second quarter 2024 earnings released: US$0.025 loss per share (vs US$0.005 profit in 2Q 2023) Second quarter 2024 results: US$0.025 loss per share (down from US$0.005 profit in 2Q 2023). Revenue: US$10.7m (up 2.3% from 2Q 2023). Net loss: US$839.0k (down US$1.01m from profit in 2Q 2023). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Tillkännagivande • May 15
Electrovaya Inc. Provides Earnings Guidance for the Fiscal Year Ending September 30, 2024 Electrovaya Inc. provided earnings guidance for the fiscal year ending September 30, 2024. For the period, the company continues to anticipate revenue of approximately $65-75 million. Approximately $20 million of this anticipated revenue is dependent on customers’ new distribution center sites. Any delays in the startup of these sites may lead to a proportion of revenue moving into the subsequent fiscal year. The Company expects to have further clarity on firm delivery dates for these sites over the next several months. The annual revenue forecast takes into consideration revenue from already delivered orders, the Company’s current purchase order backlog, which as of May 13, 2024 is over $43 million, in addition to anticipated new orders based on historical patterns and additional demand communicated to the Company, but not yet provided as a purchase order. Tillkännagivande • May 03
Electrovaya Inc. to Report Q2, 2024 Results on May 13, 2024 Electrovaya Inc. announced that they will report Q2, 2024 results After-Market on May 13, 2024 New Risk • Apr 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €93.9m (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Market cap is less than US$100m (€93.9m market cap, or US$99.9m). Tillkännagivande • Feb 15
Electrovaya Inc. Re-Affirms Earnings Guidance for the Fiscal Year Ending September 30, 2024 Electrovaya Inc. reaffirmed earnings guidance for the fiscal year ending September 30, 2024. For the period, Company anticipates revenue of approximately $65 million to $75 million representing year-over-year growth of approximately 58% at the midpoint. Tillkännagivande • Feb 06
Electrovaya Inc. to Report Q1, 2024 Results on Feb 12, 2024 Electrovaya Inc. announced that they will report Q1, 2024 results After-Market on Feb 12, 2024 Tillkännagivande • Jan 23
Electrovaya Inc., Annual General Meeting, Mar 28, 2024 Electrovaya Inc., Annual General Meeting, Mar 28, 2024. Tillkännagivande • Dec 31
Electrovaya Inc. announced delayed annual 10-K filing On 12/29/2023, Electrovaya Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Tillkännagivande • Dec 26
Electrovaya Inc. Begins Shipping Infinity-HV Battery Systems Electrovaya Inc. announced the first shipment of its Infinity-HV battery systems, an addition to its infinity product line. The Infinity-HV systems target heavy-duty, high-voltage applications including buses, delivery trucks, construction trucks, hybrid-fuel cell/battery systems and stationary energy storage systems. Electrovaya's Infinity-HV systems offer safety and longevity for these applications, ultimately providing lower liability costs, better warranty coverage and an overall lower cost of ownership. The first shipment was made to a global aerospace company for a new vehicle type. Electrovaya also anticipates shipping additional pre-production systems early in the new year for electrified airport diesel generator replacement devices. Electrovaya continues to experience strong interest in the electric bus market and other applications and is working towards securing long-term contracts. The new Infinity-HV systems come in two forms: The HV-300 and HV-700 offering nominal energy of 35 kWh and 70 kWh, respectively, and serving both 400V and 800V applications. The systems are modular and scalable for the respective requirements. The Infinity-HV batteries use lithium ion ceramic and UL recognized EV series cells and are designed to provide the longest lasting high voltage batteries with a 25 year projected lifetime for one-cycle/day applications. Tillkännagivande • Oct 25
Electrovaya Inc. Appoints Steven Berkenfeld to its Board of Directors Electrovaya Inc. announced the appointment of Steven Berkenfeld to the Company's board of directors. Steven Berkenfeld is a renowned and passionate Climate and Clean Technology advocate and has been acting as an advisor to Electrovaya's CEO since 2021. Steven retired from a long career in Investment Banking at the end of 2019 to focus entirely on impact and sustainability. He is the founder of Ecotopia Consulting LLC. and is primarily engaged in helping earlier stage, mission driven companies in the development and growth of their business. In previous roles, Steven served as Managing Director in investment banking at Barclays Capital, where he served as senior sponsor of the Social Impact Banking Initiative, co-head the firm's Cleantech Initiative, and led the banking effort for Emerging Industrial Technology companies. Prior to joining Barclays,Steven had spent over 21 years at Lehman Brothers and his roles included serving as Chief Investment Officer for all principal investing activities and Chair of the Investment Committee. Mr. Berkenfeld's non-profit contributions to the sector have been extensive. He is former chair and a memberof the board of directors of the Sierra Club Foundation; chair of the board of Green City Force; a member of the board of The Clean Fight, a former member of the board of BSR (Business for Social Responsibility), and a member of the President's Council of Ceres. In addition, he was the sponsor of the Employment Sustainability Initiative on Employment and Technology at the ILR School of Cornell University and sponsor of the Carbon Removal /New Carbon Economy initiative of the Atkinson Center for a Sustainable Future at Cornell University. He holds a J.D. from Columbia Law School and a B.S. from Cornell University. In addition to the director role, Mr. Berkenfeld will continue to support Electrovaya's management as a strategic advisor. Reported Earnings • Aug 15
Third quarter 2023 earnings released: EPS: US$0.002 (vs US$0.05 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.002 (up from US$0.05 loss in 3Q 2022). Revenue: US$10.5m (up 145% from 3Q 2022). Net income: US$77.0k (up US$1.54m from 3Q 2022). Profit margin: 0.7% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Tillkännagivande • Aug 08
Electrovaya Inc. to Report Q3, 2023 Results on Aug 14, 2023 Electrovaya Inc. announced that they will report Q3, 2023 results After-Market on Aug 14, 2023 Tillkännagivande • Jul 23
Electrovaya Launches Infinity-Hv Battery Systems for Electric Bus, Truck and Energy Storage Applications Electrovaya Inc. announced the launch of its Infinity-HV battery systems, an addition to its existing Infinity product line. The Infinity-HV systems target heavy-duty, high-voltage applications including buses, delivery trucks, construction trucks, hybrid-fuel cell/battery systems and stationary energy storage systems. Electrovaya's Infinity-HV systems will offer safety and longevity for these applications, ultimately providing users with lower liability costs, better warranty coverage and an overall lower cost of ownership. The new Infinity-HV systems come in two forms: The HV-90 and HV-180. They offer a nominal energy of 35 kWh and 70 kWh, respectively, and will serve both 400V and 800V applications. The systems are modular and designed to be scaled for the respective requirements. The Infinity-HV batteries use lithium-ion ceramic and UL-recognized EV series cells and have a projected 25-year lifetime for one-cycle/day applications, making them the longest lasting high voltage batteries available. Safety is a top design criterion for Electrovaya, and similar to other Infinity products, the Infinity-HV packs offer a high level of fire protection due to the Company's proprietary multi-level cell and battery fire propagation prevention technology. Infinity-HV systems will be controlled by the Company's in-house fifth generation advanced battery management system (BMS) that is currently deployed in more than 4,000 Infinity products in the field. The Infinity-HV packs will be assembled in house at both Electrovaya's Canadian and U.S. operations, with initial deliveries of pre-production units anticipated in the fourth quarter of 2023. Electrovaya has recently installed an AI-assisted automated assembly line with advanced laser welding capabilities and cutting-edge quality control methods, which will help to accelerate product customizations to meet specific customer requirements. Mass production of the Infinity-HV products is planned at the Company's facility in Jamestown, NY. Electrovaya will be displaying the Infinity-HV products at the upcoming APTA Expo on October9-11, 2023 in Orlando, Florida. New Risk • Jul 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$8.1m free cash flow). Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Tillkännagivande • May 17
Electrovaya Inc. Announces New Higher Capacity Lithium-Ion Infinity Cell Series Electrovaya Inc. announced that it is launching a new Infinity series cell, that features a capacity increase of 10% over its current cell product. This latest iteration, powered by Electrovaya's proprietary lithium-ion ceramic technology, has a cell capacity of 52 ampere hours (Ah) and has recently received both UL 2580 certification and UN38.3 certification. The 52Ah cell is expected to retain the core advantages of the Infinity series products, including industry leading cycle life and safety standards, with significantly improved energy density. It is expected to be the first cell produced at Electrovaya's planned gigafactory in Jamestown, New York. Recently, an earlier version of Electrovaya's Infinity cell platform demonstrated industry leading cycle life at DNV's BEST Test Center battery labs in Rochester NY, following completion of over 9,000 cycles with cycle life projections to about 14,000 cycles. Electrovaya will be highlighting the Infinity Platform in more detail, along with updates regarding its solid state battery developments, at its inaugural Battery Technology and Analyst Day on May 17, 2023. Reported Earnings • May 07
Second quarter 2023 earnings released: EPS: US$0.001 (vs US$0.015 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.001 (up from US$0.015 loss in 2Q 2022). Revenue: US$10.5m (up 144% from 2Q 2022). Net income: US$170.0k (up US$2.42m from 2Q 2022). Profit margin: 1.6% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 75% per year, which means it is well ahead of earnings. Tillkännagivande • May 06
Electrovaya Inc. Provides Earnings Guidance for the Fiscal Year 2023 Electrovaya Inc. provided earnings guidance for the fiscal year 2023. For the period, Company anticipates revenue of approximately $42 million (CAD 53 million) more than double the revenue total in Fiscal Year 2022. The revenue is expected to be generated primarily from sales of its Infinity battery systems for commercial electric vehicles such as materials handling electric vehicles. Reported Earnings • Feb 14
First quarter 2023 earnings released: US$0.023 loss per share (vs US$0.015 loss in 1Q 2022) First quarter 2023 results: US$0.023 loss per share (further deteriorated from US$0.015 loss in 1Q 2022). Revenue: US$7.78m (up US$6.53m from 1Q 2022). Net loss: US$3.70m (loss widened 72% from 1Q 2022). Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 77% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 02
Electrovaya Inc. to Report Q1, 2023 Results on Feb 13, 2023 Electrovaya Inc. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on Feb 13, 2023 Reported Earnings • Dec 07
Full year 2022 earnings released: US$0.045 loss per share (vs US$0.054 loss in FY 2021) Full year 2022 results: US$0.045 loss per share (improved from US$0.054 loss in FY 2021). Revenue: US$19.8m (up 71% from FY 2021). Net loss: US$6.55m (loss narrowed 13% from FY 2021). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 98% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
Third quarter 2022 earnings released: US$0.01 loss per share (vs US$0.013 loss in 3Q 2021) Third quarter 2022 results: US$0.01 loss per share (up from US$0.013 loss in 3Q 2021). Revenue: US$4.31m (up 125% from 3Q 2021). Net loss: US$1.46m (loss narrowed 19% from 3Q 2021). Over the next year, revenue is forecast to grow 212%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 72% per year, which means it is well ahead of earnings. Tillkännagivande • Jun 15
Electrovaya Inc. Appoints John Gibson as its Chief Financial Officer Electrovaya Inc. announced the appointment of John Gibson, as the Chief Financial Officer, effective as of June 13, 2022. Mr. Gibson will report to Electrovaya's Chief Executive Officer, Dr. Raj DasGupta Mr. Gibson is a Certified Professional Accountant with over 15 years of experience in public and private corporations and brings significant experience in corporate accounting and finance, strategic and financial planning, internal controls, and systems. Previously he served as VP Finance at Adlib Software and has held leadership roles in manufacturing for the last 10 years. Mr. Gibson received his undergraduate degree in accounting from Strathclyde University and his Master's degree in Information Technology and Business from Glasgow University. Reported Earnings • May 12
Second quarter 2022 earnings released: US$0.015 loss per share (vs US$0.013 loss in 2Q 2021) Second quarter 2022 results: US$0.015 loss per share (down from US$0.013 loss in 2Q 2021). Revenue: US$4.29m (up 47% from 2Q 2021). Net loss: US$2.25m (loss widened 21% from 2Q 2021). Over the next year, revenue is forecast to grow 328%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. Tillkännagivande • May 12
Electrovaya Inc. Revises Revenue Guidance for the Fiscal Year 2022 Electrovaya Inc. revised revenue guidance for the fiscal year 2022. In light of the first half fiscal year 2022 production delays the company revised its revenue guidance to a range of $21 million to $25 million for fiscal year 2022 or approximately double fiscal year 2021 revenues, barring any unforeseen circumstances and supply chain issues. Tillkännagivande • May 04
Electrovaya Inc. to Report Q2, 2022 Results on May 10, 2022 Electrovaya Inc. announced that they will report Q2, 2022 results After-Market on May 10, 2022 Tillkännagivande • Apr 14
Electrovaya Inc. Announces Breakthrough Performance for Proprietary Solid State Hybrid Battery Technology Electrovaya Inc. has achieved breakthrough performance results for its proprietary solid state hybrid lithium metal battery technology at its Electrovaya Labs division. The results support opportunities to significantly expand company's product offerings and customer base over the long term. Coin cell samples reached 300 cycles with minimal degradation under standard room temperature conditions. These results highlight the ability of the technology to meet passenger automotive applications, which target 800 cycles with 80% capacity retention. Capacity retention of multiple samples using company's proprietary solid state hybrid battery technology. Coin cell samples were cycled at C/5 rates at room temperature at 100% DOD and have crossed 300 cycles with 94% capacity retention. The company has also achieved scaling to single, two-layer and four-layer pouch cells. These cells have been cycling at room temperature with no external pressure and are following the same trends as the coin cells. Capacity retention of pouch cell using company's proprietary solid state hybrid battery technology. The samples were cycled at C/5 rates at room temperature at 100% DOD, no external pressure on the cells. The company has extensive experience in manufacturing cells, and the aim is to scale up and manufacture these cells using available methods. The Company is scaling its process to enable development of larger pouch cells, and is accelerating efforts to reach commercial scale for its solid state hybrid technology. Tillkännagivande • Apr 12
Electrovaya Inc. Completes UL2580 Certification for 28 Models of 48V Lithium Ion Batteries for Materials Handling Electric Vehicles Electrovaya Inc. announced that it has completed UL2580 certification for about 28 models of 48V lithium ion batteries. Most of these models also represent new product offerings, significantly increasing the Company's overall materials handling product lines. Tillkännagivande • Feb 15
Electrovaya Provides Revenue Guidance for the Fiscal Year Ending September 30, 2022 Electrovaya Inc. maintains its revenue guidance of approximately $27 million for the fiscal year ending September 30, 2022. This is more than double the revenue total of $11.6 million in the 2021 fiscal year. Reported Earnings • Feb 15
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: US$0.015 loss per share (down from US$0.014 loss in 1Q 2021). Revenue: US$1.25m (down 52% from 1Q 2021). Net loss: US$2.16m (loss widened 17% from 1Q 2021). Revenue missed analyst estimates by 62%. Over the next year, revenue is forecast to grow 282%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 83% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Feb 09
Electrovaya Inc. to Report Q1, 2022 Results on Feb 14, 2022 Electrovaya Inc. announced that they will report Q1, 2022 results After-Market on Feb 14, 2022 