Flux Power Holdings, Inc. - FLUX STOCK NEWS

Flux Power Holdings (Nasdaq: FLUX) announced a registered direct offering to institutional investors, selling 2,142,860 shares and warrants for a purchase price of $7.00 each, expected to close around September 27, 2021. The offering aims to raise approximately $15.0 million in gross proceeds, which will be used for general corporate and working capital purposes. H.C. Wainwright & Co. is the exclusive placement agent. The warrants are exercisable immediately at the same price and expire in five years.

Flux Power Holdings, Inc. (FLUX) reported its financial results for Q4 and FY21, ending June 30, 2021. The company specializes in advanced lithium-ion battery solutions for commercial equipment, including lift trucks and airport ground support. A conference call to discuss the results will be held on September 27, 2021, at 4:30 PM ET. Investors can join via phone. Flux Power aims to offer environmentally friendly and cost-effective alternatives to traditional battery solutions.

Flux Power Holdings, Inc. (Nasdaq: FLUX) reported Q4’21 revenue growth of 33% to $8.3M, with FY’21 revenue rising 56% to $26.3M. Gross margins improved to 21.0% in Q4 and 22.1% for FY’21. The company uplisted to Nasdaq, raised $12.4M in equity, and eliminated all debt by converting $5.2M. Despite a net loss increasing to $3.7M in Q4, Flux Power maintains a backlog of $18M and anticipates continued revenue growth and enhanced margins in FY’22, navigating supply chain disruptions while launching new products.

Flux Power Holdings, Inc. (NASDAQ: FLUX) announced a significant sales order backlog of $13.7 million as of July 20, 2021. This backlog, attributed to a recovering travel industry and repeat orders from airline customers, reflects the company's growing customer base and indicates increased demand for its lithium-ion industrial batteries. The batteries are set to power various equipment, including material handling and ground support equipment. The company notes this backlog represents its highest open sales orders to date.

Flux Power Holdings (NASDAQ: FLUX) reported Q3 FY2021 financial results with a 38% revenue growth to a record $7.0M, up from $5.1M in Q3 FY2020. Gross margin improved significantly to 24.1% from 12.8%. The company achieved its 11th consecutive quarter of revenue growth, secured initial orders from two new major customers, and launched the next-generation M24 lithium-ion battery pack. However, selling and administrative expenses rose to $3.1M, leading to a net loss of $1.7M, though this was an improvement from $4.0M the previous year.

Flux Power Holdings, Inc. (NASDAQ: FLUX) will release its financial results for Q3'21 on May 13, 2021, before the market opens. The company specializes in developing advanced lithium-ion batteries for industrial equipment. Following the earnings announcement, a conference call will be held at 4:30 PM ET to discuss the results and provide a business update. Interested participants can join the call using the provided contact numbers. Flux Power aims to offer superior, environmentally friendly battery solutions through its LiFT Pack battery systems.

Flux Power Holdings, Inc. (NASDAQ: FLUX) announced the launch of its next-generation M24 lithium-ion battery pack, designed for end riders and center riders in warehouses. The M24 delivers 24 V, 420 Ah, and lasts for 3,500 cycles, meeting UL standards. Initial shipments have started, receiving positive customer feedback. Key features include an improved state-of-charge gauge, soft power-off function, easier service accessibility, enhanced safety features, and compatibility with existing forklift interfaces. Flux Power aims to strengthen its position in the high-volume market with this redesign.

Flux Power Holdings, Inc. (NASDAQ: FLUX) has initiated the delivery of its advanced lithium-ion battery packs to two new customers, including a leading manufacturer and distributor of paper products with a fleet of over 2,000 forklifts and a Fortune 500 packaging manufacturer managing 500+ forklifts. This development signifies Flux Power's ongoing expansion in the growing lithium-ion market for industrial equipment, promoting better performance and environmental benefits compared to traditional battery solutions.

Flux Power Holdings (NASDAQ: FLUX) reported a significant 79% revenue increase for Q2’21, reaching a record $6.5M compared to $3.6M in Q2’20. Gross margin improved to 23% from 9% due to higher sales volumes. The company secured initial orders from a global food producer and continued its partnership with Beam Global. Despite a slight net loss increase to $3.4M, CEO Ron Dutt emphasized strong operational progress and ongoing demand for lithium-ion solutions.