secwatch.observer — SEC 8-K summary
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Issuer:     Flux Power Holdings, Inc. (FLUX)
CIK:        0001083743
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001493152-24-018477
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083743/000149315224018477/0001493152-24-018477-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083743/000149315224018477/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-018477

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