Overview

* Electrovaya ( ELVA ) fiscal Q3 revenue grows 67% y/y to $17.1 mln

* Adjusted EBITDA rises 387% y/y to $2.9 mln, ninth consecutive positive qtr

* Co reaffirms fiscal 2025 revenue guidance exceeding $60 mln

Outlook

* Electrovaya ( ELVA ) reaffirms FY 2025 revenue guidance exceeding $60 mln

* Company expects strong growth driven by demand from major end users

* Electrovaya ( ELVA ) anticipates continued profitability and scaling operations

Result Drivers

* OEM PARTNERS - Continued strong demand from OEM partners and end-customers in the material handling sector contributed to revenue growth

* MANUFACTURING EXPANSION - Expanded manufacturing capacity with a second shift and new assembly operations to meet growing demand

* TECHNOLOGY ADVANCEMENTS - Advancements in Infinity technology and expansion into new markets like robotics and airport equipment drive future growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $17.10

Revenue mln

Q3 Net $900,000

Income

Q3 $2.90

Adjusted mln

EBITDA

Q3 Gross 30.8%

Margin

Analyst Coverage

* The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* Wall Street's median 12-month price target for Electrovaya Inc ( ELVA ) is $7.25, about 30.6% above its August 12 closing price of $5.03

* The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)