Flux Power reports Q3 FY2024 revenue down 4% YoY, net loss widens to $2.6M

Flux Power Holdings, Inc.

2024-Q3 EPS reported -$0.34 revenue$47,598,000

Revenue $14.5M (-4% YoY), gross margin 30% (down 100bps), net loss $2.6M vs $1.4M loss.
Adjusted EBITDA loss widened to $1.4M from $0.7M; cash fell to $1.3M from $2.4M.
Event of default under $16M credit facility (EBITDA covenant), waiver obtained, negotiating modifications.
Going concern uncertainty disclosed; backlog $18.5M as of May 6, 2024.
New CFO Kevin Royal appointed; Mark Leposky joins board; new private label program for OEM.

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 0.9

Flux Power Holdings, Inc. reported fiscal third quarter ended March 31, 2024 results: revenue $14.5 million.

Period: fiscal third quarter ended March 31, 2024
Revenue: $14.5 million
Result: reported results

Exact text from the filing

30, 2023 $ 28,544,000 $ 8,102,000 $ 14,797,000 $ 21,849,000 December 31, 2023 $ 21,849,000 $ 26,552,000 $ 18,344,000 $ 30,057,000 March 31, 2024 $ 30,057,000 $ 4,030,000 $ 14,457,000 $ 19,630,000 CEO Commentary Continued “Looking ahead, we are highly focused on expanding sales and marketing initiatives to secure new customer relationships and support

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Source: SEC EDGAR

accession 0001493152-24-018477

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