Flux Power FY2024 revenue down 8.5% to $60.8M, restates financials, CEO to retire

Flux Power Holdings, Inc.

2025-Q2 EPS reported -$0.21 vs consensus -$0.09 ▼ miss (-142.2%)

Revenue $60.8M (-8.5% YoY); net loss $8.3M vs $7.7M; adjusted EBITDA loss improved to $4.0M from $4.7M.
Restatement completed: cumulative $5.2M non-cash adjustments for excess inventory, warranty, reclassifications; no cash impact.
CEO Ron Dutt to retire after 12 years; search for successor ongoing. CFO Kevin Royal and CRO Kelly Frey appointed.
Gross margin improved to 28% (from 24%) but revenue fell; backlog $17.5M as of Dec 31, 2024.
Cash $0.6M; Gibraltar credit facility amended, waivers obtained; going concern risk noted.

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