Flux Power Holdings, Inc. - FLUX STOCK NEWS

Flux Power Holdings, Inc. (NASDAQ: FLUX) will host a conference call on May 11, 2023, at 4:30 p.m. Eastern Time to discuss its fiscal third quarter results, which ended on March 31, 2023. The call will be led by CEO Ron Dutt and CFO Chuck Scheiwe. Investors can access the call by dialing 1-877-407-4018 (toll-free) or 1-201-689-8471 (international). A replay will be available after 7:30 p.m. Eastern Time through August 11, 2023. Flux Power specializes in advanced lithium-ion energy storage solutions across various sectors, including material handling and airport ground support. For more details, visit www.fluxpower.com.

Flux Power Holdings (NASDAQ: FLUX) is expanding its operations by opening a new facility in Atlanta on May 1, 2023. This move aims to enhance customer support services in response to significant growth in sales of lithium-ion battery packs. The new facility will improve response times for its global customer base, particularly Fortune 500 and 100 companies, while reducing logistics costs. The 5,000 square-foot center will operate live support from 7 a.m. to 7 p.m. ET and is strategically located to complement ongoing partnerships for comprehensive service offerings. With over 18,000 battery packs deployed, Flux Power focuses on clean, sustainable energy solutions and aims to improve fleet sustainability metrics.

Flux Power Holdings, Inc. (NASDAQ: FLUX) announced its participation in ProMat 2023, a leading global event for material handling and logistics, scheduled from March 20 to 23, 2023, in Chicago. The company will showcase its advanced lithium-ion battery solutions, including new heavy-duty battery pack models for L36, X48, and M24 applications. Attendees can witness live demonstrations of the SkyBMS Telematics system, which provides real-time performance metrics. Additionally, investor meetings will be held on March 21 and 22 to discuss future opportunities with management.

Flux Power (NASDAQ: FLUX) will host an investor and analyst day on March 15, 2023, from 9:30 AM to 1:45 PM PT at its Vista, California manufacturing facility. The event will cover the company's complete product line of lithium-ion battery packs, recent production improvements, and expanded testing capabilities. Key executives, including CEO Ron Dutt and CFO Chuck Scheiwe, will present growth strategies along with a Q&A session and a facility tour. Recent financial performance shows a 123% revenue increase to $17.2 million for Q2 2023, marking 18 consecutive quarters of growth.

Flux Power Holdings, Inc. (NASDAQ: FLUX) reported significant growth in its second quarter for fiscal 2023, with revenues soaring 123% to $17.2 million, up from $7.7 million in the same period last year. Gross profit increased 294% to $4.1 million, resulting in a gross margin improvement to 24% from 14%. The company's customer order backlog reached $30.4 million. Notably, net loss dropped to $1.7 million from $5.1 million in Q2 2022, while adjusted EBITDA loss decreased by 81%. The firm expanded its credit facility with Silicon Valley Bank to $14 million to support rising working capital needs. The management remains optimistic about future growth prospects.