Electrovaya Inc. reported its financial results for the fourth quarter and fiscal year ended September 30, 2024, on December 12, 2024. The company achieved revenue of $44.6 million for the full fiscal year.
The report highlighted $4 million in Adjusted EBITDA, marking the sixth consecutive quarter of positive Adjusted EBITDA. Electrovaya also reported historic positive cash flow from operations and improved gross margins, demonstrating enhanced operational efficiency.
A significant financial milestone was the removal of the 'Going Concern' note in the financial statements, reflecting the company's improved financial performance and stability. The report also noted the approval of a $51 million direct loan from the Export-Import Bank of the United States, expected to fund the Jamestown manufacturing facility.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.