Flux Power Q2 FY2023 revenue up 123% to $17.2M; gross margin expands to 24%

Flux Power Holdings, Inc.

2024-Q2 EPS reported -$0.24 revenue$34,998,000

Revenue $17.2M vs $7.7M YoY (+123%); gross profit $4.1M (+294%); gross margin 24% vs 14%.
Net loss narrowed to $1.7M from $5.1M; adjusted EBITDA loss $0.9M vs $1.5M prior quarter.
Backlog $30.4M, up from $26.9M prior quarter; new orders $20.7M in Q2.
Credit facility with Silicon Valley Bank increased from $8M to $14M to support working capital.
Cash $0.2M; net cash used in operations improved to $1.3M from $11.0M YoY.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Flux Power Holdings, Inc. reported fiscal second quarter ended December 31, 2022 results: revenue $17.2M.

Period: fiscal second quarter ended December 31, 2022
Revenue: $17.2M
Result: reported results

Exact text from the filing

for the fiscal second quarter ended December 31, 2022. Key Financial & Operational Highlights for the Second Quarter Fiscal Year 2023 ● Revenue (Shipments) increased 123% to $17.2M in Q2’23 compared to Q2’22 revenue of $7.7M. ● Gross profit increased 294% to $4.1M in Q2’23 compared to $1.0M in Q2’22. ● Q2’23 gross margin was 24% compared to 14% in Q2’22,

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Source: SEC EDGAR

accession 0001493152-23-004059

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