AMSC Q2 revenue $34M (+23% YoY), first non-GAAP net income since 2010, positive op cash flow

AMERICAN SUPERCONDUCTOR CORP /DE/

2023-Q2 EPS reported -$0.28 revenue$64,258,000

Net loss of $2.5M ($0.09/share) vs loss of $9.9M ($0.35/share) a year ago; non-GAAP net income ~$0.1M ($0.00/share).
Gross margin 25%; operating cash flow +$0.9M; cash & restricted cash $24.0M at quarter end.
Q3 FY23 guidance: revenue $33-36M, net loss ≤$4.3M ($0.15/share), non-GAAP net loss ≤$2.5M ($0.08/share).
12-month backlog $128M; Q2 new energy bookings over $37M across multiple markets.
Chairman cites demand, improved margins, and product mix; expects breakeven to +$2.0M op cash flow in Q3.

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