Electrovaya Inc. reported fiscal 2025 revenue of $63.8 million, a 43 % increase from the $44.6 million it generated in 2024. The jump was driven by strong demand in the company’s robotics, airport ground equipment (GSE), and stationary energy‑storage segments, which together accounted for more than 70 % of total sales. 2024 revenue was $44.6 million, so the year‑over‑year growth reflects both higher order volumes and a shift toward higher‑margin product lines.
The company’s adjusted EBITDA rose to $8.8 million, an 115 % increase from the $4.1 million reported in 2024. The margin expansion was largely a result of operational leverage as production volumes grew and the mix shifted toward the higher‑margin robotics and energy‑storage businesses. 2024 adjusted EBITDA of $4.1 million was driven by a mix of lower‑margin material‑handling contracts.
Net profit reached $3.3 million, or $0.09 per share, marking Electrovaya’s first consolidated profit after a $1.5 million net loss in 2024. The earnings beat analyst expectations of $0.05 per share by $0.04, a 80 % beat, thanks to disciplined cost control and the higher contribution margin from the new product lines.
Electrovaya’s balance sheet was strengthened by two financing events: a $25 million asset‑backed lending facility from BMO and a $51 million loan from the U.S. Export‑Import Bank. The BMO facility is described as an up‑to‑$25 million ABL, while the EXIM loan is a $50.8 million facility that has already been drawn down to fund equipment procurement and commissioning at the Jamestown gigafactory.
Progress at the Jamestown, New York gigafactory is a key milestone. Battery‑system assembly operations have begun, and the company expects commercial shipments to start in 2026. Drawdowns on the EXIM loan have been used to purchase critical equipment and to scale up production capacity.
Management reiterated its guidance for fiscal 2026, projecting revenue growth of more than 30 % to exceed $83 million. The company also noted that some deferred revenue could be recognized in fiscal 2027, which may temper the 2026 top‑line outlook. 2025 guidance reflects confidence in sustained demand for the company’s high‑performance lithium‑ion solutions.
CFO John Gibson highlighted that cost discipline and operational efficiency were key to achieving profitability, while CEO Dr. Raj DasGupta emphasized the importance of the EXIM funding in accelerating U.S. capacity expansion and improving margin potential.
Analysts noted the earnings beat and the company’s first profitable year as positive signals of execution, while acknowledging that equity issuances and potential deferred revenue could introduce short‑term dilution and revenue timing uncertainty.
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