typeklion.blogg.se - Flux power careers

Expanded testing and product validation capabilities with on-site vibration table, to reduce time required from testing to certification.Increased Credit Facility with Silicon Valley Bank by $6.0 million to $14.0 million to support higher working capital requirements related to increased customer demand.Customer order backlog totaled $30.4M as of December 31, 2022.Adjusted EBITDA loss decreased 81% in Q2’23 compared to Q2’22 and decreased 71% for the six months ended Decemcompared to the six months ended December 31, 2021.Net cash used in operating activities decreased 88% in Q2’23 compared to Q2’22 and 88% for the six months ended Decemcompared to the six months ended December 31, 2021.Achieved 18th consecutive quarter of year-over-year revenue growth.Strategic Supply Chain & Profitability Improvement Initiatives continued to accelerate path to cash flow breakeven.

Q2’23 gross margin was 24% compared to 14% in Q2’22, reflecting recovery from pandemic driven material cost increases.

Gross profit increased 294% to $4.1M in Q2’23 compared to $1.0M in Q2’22.

Revenue (Shipments) increased 123% to $17.2M in Q2’23 compared to Q2’22 revenue of $7.7M.

Key Financial & Operational Highlights for the Second Quarter Fiscal Year 2023

(NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, has reported its financial and operational results for the fiscal second quarter ended December 31, 2022. VISTA, Calif.-( BUSINESS WIRE)- Flux Power Holdings, Inc.