![]() ![]() Revenue: FY’21 revenues rose 56% to $26.3M compared to $16.8M in FY’20, reflecting the continued momentum rolling out full lineup of large LiFT Packs and adding large new Fortune 500 customers with large fleets having multi-year ordering demands. Net Loss: Q4’21 net loss increased to $3.7M from a loss of $3.3M in Q4’20, principally reflecting higher operating costs and interest expense. Research & Development: Expenses increased to $2.0M in Q4’21, compared to $1.1M in Q4’20 reflecting continued product range evolution and optimization, including high voltage battery packs (400 Volts), and developed adaptions of battery packs for “second sourcing” of battery cells. Selling & Administrative: Expenses increased to $3.4M in Q4’21 from $2.7M in Q4’20, principally reflecting increased staffing to support expanded operations and growth. Gross Profit: Q4’21 gross profit improved to $1.8M compared to a gross profit of $1.1M in Q4’20 principally reflecting higher sales volumes and benefits from Flux Power’s revenue growth and gross margin improvement program. Q4’21 represented the 12 th consecutive quarter of year-over-year revenue increases. Revenue: Q4’21 revenue increased 33% to $8.3M compared to $6.3M in Q4’20, driven by sales of larger LiFT Packs. “Despite these challenges, we delivered substantial revenue growth and gross margin improvements, while launching new products and obtaining UL listings.” “Our 2021 Fiscal Year was quite a challenge, with supply chain disruptions and continuing effects from the COVID pandemic,” Flux Power CEO Ron Dutt commented. Named to Food Logistics’ 2021 Top Green Providers List. Received the 2020 Supply & Demand Chain Executive Green Supply Chain Award. ![]() Named to the Financial Times “Americas Fastest Growing Companies” List.Expanded into additional warehouse space to accommodate growth and allocate more space for inventory and production lines.Reached milestone of 9,000 battery packs in the field (surpassed by 10,000 battery packs in July - FY’22), while being challenged by global supply change disruption.Announced three patents pending for advanced lithium-ion battery technology.Initiated deliveries of a new proprietary battery pack to a provider of “autonomous electric shuttle vehicles”.Signed partnership agreement with CLARK Material Handling Company to supply lithium-ion batteries.Resumed deliveries that were deferred by a global airline during the travel disruptions caused by the COVID pandemic.Initiated deliveries to the world’s largest meat processor and two major customers (paper products & chemicals manufacturer and a packaging manufacturer).Launched next generation lithium-ion battery pack for end riders & center riders - feedback from customers has been positive with substantial orders.Converted $5.2M of debt to equity, eliminating all debt, to strengthen the balance sheet and capital structure. Raised $12.4M in equity capital, increasing its shareholder base, including institutional investors. Uplisted on the Nasdaq Capital Market under the symbol “FLUX.” Prior to the listing on the Nasdaq Capital Market, Flux Power’s common stock was quoted on the OTCQB.FY’21 gross margin improved to 22.1% vs FY’20 gross margin of 13.0%.Q4’21 gross margin increased to 21.0% compared to 17.5% in Q4’20.FY’21 revenue increased 56% to $26.3M vs FY’20 revenue of $16.8M.Q4’21 revenue grew 33% to $8.3M compared to Q4’20 revenue of $6.3M.(Nasdaq: FLUX), a developer of advanced lithium-ion battery packs for commercial and industrial equipment, today reported financial results for its fourth quarter (Q4’21) and fiscal year (FY‘21) ended June 30, 2021. ![]()
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