Flux Power Holdings, Inc. - FLUX STOCK NEWS

Flux Power Holdings, Inc. (NASDAQ: FLUX) reported a 61% increase in FY’22 revenue, reaching a record $42.3M, compared to $26.3M in FY’21. Q4’22 revenue spiked 83% year-over-year to $15.2M, driven by growing sales volumes and higher prices. However, gross margin decreased to 17% in FY’22 from 22% in FY’21. The company received $65M in new purchase orders, up 83% from the previous year, and reduced backlog to $35M. With strong demand, management expects robust revenue growth in FY’23.

Flux Power Holdings (NASDAQ: FLUX) will host a conference call on September 22, 2022, at 4:30 p.m. ET to discuss its fiscal fourth quarter and full year results for the period ending June 30, 2022. CEO Ron Dutt and CFO Chuck Scheiwe will lead the call, which includes a Q&A session and a presentation accessible via the investor relations section of Flux Power's website. A replay will be available until December 22, 2022.

Flux Power Holdings, Inc. (NASDAQ: FLUX) reported a significant growth in purchase orders, exceeding $64 million for the fiscal year ending June 30, 2022, marking an increase of over 82% from the previous year. New customers contributed 26% of this revenue, highlighting a robust repeat customer base of 74%. CEO Ron Dutt anticipates reaching a $70 million annual revenue run rate soon, with projections for revenue growth exceeding $100 million in the coming years. The company is benefiting from the renewable energy transition and demand in several sectors, including material handling.

Flux Power (NASDAQ: FLUX) is set to host an investor day on August 2, 2022, from 9:15 a.m. to 1:15 p.m. PT at its Vista, California facility. The event will highlight the company’s complete lithium-ion battery product line, including new offerings for material handling and automated vehicles. Recent manufacturing improvements have led to an 89% increase in Q3 revenue, totaling $13.2 million. A record backlog of $38.6 million reflects strong demand for Flux’s innovative battery solutions.

Flux Power Holdings, Inc. (NASDAQ: FLUX) announced its participation in the upcoming H.C. Wainwright Global Investment Conference from May 23-26, 2022 and the LD Micro Invitational XII Conference from June 7-9, 2022. CEO Ron Dutt will present at both conferences and conduct one-on-one meetings. The H.C. Wainwright conference features a virtual presentation available from May 24, while the LD Micro Invitational includes an in-person presentation on June 7.

Flux Power Holdings, Inc. (NASDAQ: FLUX) reported a remarkable 89% increase in revenue to $13.2 million for Q3 fiscal 2022, marking its 15th consecutive quarter of year-over-year growth. The company secured $20.5 million in new purchase orders, raising its customer order backlog to a record $38.6 million. Despite these accomplishments, gross margin decreased to 14.6% due to rising material costs, leading to a net loss of $3.7 million. Flux Power remains focused on strategic supply chain improvements to enhance profitability and reduce cash burn.

Flux Power Holdings, Inc. (NASDAQ: FLUX) will hold a conference call on May 12, 2022, at 4:30 p.m. ET to discuss its fiscal Q3 results for the period ending March 31, 2022. The call will be hosted by CEO Ron Dutt and CFO Chuck Scheiwe, followed by a Q&A session. Interested parties can join the call using the provided dial-in numbers and will have access to a live webcast and replay. Flux Power specializes in lithium-ion energy storage solutions, enhancing sustainability and performance in various industrial sectors.

Flux Power Holdings, Inc. (NASDAQ: FLUX) has launched the new S24 battery pack, which now offers a capacity of 210Ah, doubling the previous 105Ah version. This high-capacity solution is designed for walkie pallet jacks, enhancing performance for demanding applications. The S24 will be showcased at MODEX 2022 from March 28 to 31, 2022 in Atlanta, Georgia. CEO Ron Dutt emphasized that this innovation aims to meet the needs of distribution centers and warehouses, providing extended power for longer shifts.

Flux Power Holdings (NASDAQ: FLUX) has unveiled its new C48 lithium-ion battery pack for Automated Guided Vehicles (AGVs) and Autonomous Mobile Robots (AMRs) at MODEX 2022, held from March 28-31 in Atlanta, Georgia. The C48 is designed for easier servicing and lower total ownership costs, addressing the rising demand for AGVs and AMRs amid labor shortages. Flux Power aims to provide longer run times and reduced maintenance, enhancing sustainability and operational efficiency.