Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $20.5 million, up from $11.6 million in the prior year, representing a growth of 77% for the quarter and 43% for the full year, totaling $63.8 million compared to $44.6 million [14][16] - Gross margin for Q4 was 31%, an increase of 530 basis points year over year, while the full year gross margin was 30.9% compared to 30.7% in the prior year [15][16] - Operating profit for Q4 was $2.4 million compared to $0.7 million in the prior year, and for the full year, it was $5.5 million compared to $0.7 million in the prior year, marking an increase of 685% year over year [16][18] - The company generated a net profit of $2 million for Q4, a significant increase from a net loss of $0.1 million in the prior year, and a net profit of $3.4 million for the full year compared to a net loss of $1.5 million in the prior year [16][18] - Adjusted EBITDA for Q4 was $3.4 million, up 126% from $1.5 million in the prior year, and for the full year, it was $8.8 million compared to $4.1 million in the prior year, an increase of 115% [17][18] Business Line Data and Key Metrics Changes - The core material handling vertical continues to be strong, with over 10,000 sets deployed globally, and record unit deployments driven by demand from Fortune 500 and Fortune 100 companies [9][10] - New verticals such as robotics and airport ground equipment are expected to contribute to revenue growth, with initial orders received for robotics and trials ongoing for airport ground equipment [10][11] Market Data and Key Metrics Changes - Demand indications from major customers suggest continued growth into fiscal 2026, with expectations for new verticals to represent 10%-15% of revenue for fiscal 2026 [21][28] - The company is targeting the energy storage market, with strong early interest in its Infinity ESS platform launched in September [11][12] Company Strategy and Development Direction - The company aims to deliver profitable high-growth revenue while advancing technologies that will define the next decade of the lithium-ion battery industry [9][12] - Key strategic initiatives include rapid charging cell development, solid-state battery development, and enhancing safety and performance through next-generation separator technologies [8][9] - The Jamestown lithium-ion cell manufacturing facility is central to the company's strategy, supporting supply chain resilience and domestic content requirements [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong margins and profitability into fiscal 2026, supported by a disciplined approach to capital allocation and investment in growth opportunities [15][18] - The company anticipates exceeding 30% revenue growth in 2026, with material handling contributing 80%-85% of total revenue [21] Other Important Information - The company received a $25 million facility from Bank of Montreal and closed a $51 million direct loan from Exim under the Make More in America program [5][6] - A $28 million equity raise was completed in November, enhancing liquidity and supporting future technology investments [8][20] Q&A Session Summary Question: Insights on new verticals and potential revenue impact - Management indicated optimism for robotics as a significant revenue driver, with good visibility on defense applications, while airport ground equipment presents a more uncertain revenue potential [26][28] Question: Energy storage market and customer interest - The company is seeing strong interest in energy storage applications, particularly for backup power, and is focused on proving the product in 2026 before scaling in 2027 [32][34] Question: Competitive landscape in robotics and charging technology - Management acknowledged competition from supercapacitors but expressed confidence in their technology's ability to meet the needs of robotics applications [39] Question: Progress on Energy as a Service initiative - The initiative is progressing, with expectations for traction in 2026 as the company works with third-party logistics companies [43] Question: Transition of capacity from Mississauga to Jamestown - The company plans to maintain operations in Mississauga while ramping up production in Jamestown, ensuring efficient use of capacity [54][56] Question: Aggressive sales and business development efforts - Management confirmed a focus on filling the Jamestown plant rapidly, with energy storage expected to be a significant product in 2027 [58][62]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $20.5 million, up from $11.6 million in the prior year, representing a growth of 77% for the quarter and 43% for the full year [17] - Gross margin for Q4 was 31%, an increase of 530 basis points year over year, while the full year gross margin was 30.9% compared to 30.7% in the prior year [18] - Operating profit for Q4 was $2.4 million compared to $0.7 million in the prior year, and for the full year, it was $5.5 million compared to $0.7 million in the prior year, marking an increase of 685% year over year [19] - The company generated a net profit of $2 million for Q4, a significant increase from a net loss of $0.1 million in the prior year, and a net profit of $3.4 million for the full year compared to a net loss of $1.5 million in the prior year [19] - Adjusted EBITDA for Q4 was $3.4 million, up 126% from $1.5 million in the prior year, and for the full year, it was $8.8 million compared to $4.1 million in the prior year, an increase of 115% [20] Business Line Data and Key Metrics Changes - The core material handling vertical continues to be strong, with over 10,000 sets deployed globally, and a record number of units deployed this year, primarily driven by demand from Fortune 500 and Fortune 100 companies [11] - New verticals such as robotics and airport ground equipment are expected to contribute to revenue growth, with initial orders received for robotics and trials ongoing for airport ground equipment [12] Market Data and Key Metrics Changes - Demand indications from major customers suggest continued growth into fiscal 2026, with expectations for new verticals to represent 10%-15% of revenue for fiscal 2026 [23] - The company anticipates exceeding 30% revenue growth in 2026, with material handling accounting for 80%-85% of total revenue [23] Company Strategy and Development Direction - The company is focused on maintaining profitable growth while advancing its technology roadmap, including rapid charging cell development and solid-state battery development [10][11] - The Jamestown lithium-ion cell manufacturing facility is central to the company's strategy, supporting supply chain resilience and domestic content requirements [14] - The company aims to target recurring revenue opportunities through energy-as-a-service models and maintenance contracts as its installed base grows [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to maintain strong margins and profitability moving into fiscal 2026, despite uncertainties in the market [18][20] - The company is optimistic about the potential of new verticals, particularly robotics and energy storage, which are expected to drive future growth [12][35] Other Important Information - The company closed the year with positive net working capital of $38.5 million compared to $0.8 million in the prior year, indicating improved financial performance [21] - Subsequent to the end of the quarter, the company raised gross proceeds of $28 million from an equity issuance, enhancing its liquidity position [22] Q&A Session Summary Question: Insights on new verticals and potential revenue impact - Management indicated that robotics is expected to be the second largest revenue driver after material handling, with good visibility on defense applications as well [29] Question: Clarification on revenue guidance for fiscal 2026 - Management stated that they are being conservative in their forecasts, with potential surprises likely to be upside [32] Question: Pipeline for energy storage applications - Management noted strong interest from existing material handling customers and new inquiries, indicating a promising pipeline for energy storage [34] Question: Competitive landscape for energy storage and robotics - Management highlighted the safety and reliability of their technology as key differentiators in the energy storage market, while also addressing competition from supercapacitors in robotics [40] Question: Progress on Energy as a Service initiative - Management confirmed ongoing work with third-party logistics companies to market the product, expecting traction in 2026 [44] Question: Transition of capacity from Mississauga to Jamestown - Management clarified that both facilities will operate concurrently, with Jamestown ramping up production without slowing down operations in Mississauga [54]

Core Insights - The company achieved its first profitable year with a record revenue of $63.8 million, representing a 43% year-over-year increase [1] - Adjusted EBITDA reached $8.8 million, up 115% year-over-year, and net profit was $3.3 million, equating to $0.09 per share [1] - The balance sheet was strengthened through strong operational performance, equity issuances, and expanded financial flexibility via new $25 million BMO and $51 million EXIM facilities [1] Financial Performance - Revenue for the fiscal year ended September 30, 2025, was reported at $63.8 million, marking a significant increase of 43% compared to the previous year [1] - Adjusted EBITDA for the same period was $8.8 million, reflecting a substantial growth of 115% year-over-year [1] - The company reported a net profit of $3.3 million, translating to earnings of $0.09 per share [1] Operational Developments - The company launched new products in the areas of robotics, ground support equipment (GSE), and energy storage [1] - The manufacturing buildout in Jamestown is progressing, indicating expansion in production capabilities [1] - Commercial shipments are expanding, suggesting an increase in market penetration and sales volume [1]

Summary of Electrovaya Conference Call Company Overview - **Company**: Electrovaya - **Ticker**: ELVA - **Industry**: Lithium-ion battery technology - **CEO**: Rajdas Gupta - **VP of Investor Relations**: Jason Roy - **Client Status**: New client of Three Part Advisers since November [2][3] Core Technology and Product Offering - **Infinity Battery Technology**: Developed in 2018, enhances cycle life by a factor of four compared to traditional lithium-ion batteries [5] - **Cycle Life**: Electrovaya batteries can achieve 10,000 cycles at 100% depth of discharge and 15,000 cycles at normal utilization [6] - **Safety Features**: Utilizes a full ceramic separator technology, unique in the industry, to mitigate fire risks associated with lithium-ion batteries [8][31] - **Market Applications**: Focused on material handling, robotics, energy storage, and defense sectors, avoiding the highly competitive automotive battery market [10][21][23] Market Position and Financial Performance - **Client Base**: Powers operations for 16 Fortune 100 companies, particularly in retail, across over 300 warehouse sites globally [14] - **Financial Results**: Achieved 10 consecutive quarters of positive EBITDA and expects to be net profitable for the full year of 2025 [14][15] - **Manufacturing Expansion**: New manufacturing facility in Jamestown, New York, under construction, expected to start operations in fall 2024 [15][41] Competitive Advantages - **Domestic Production**: Provides a competitive edge, especially for defense applications [17] - **High Margins**: Battery systems sold at margins around 30%, with expectations for further improvement due to domestic manufacturing [46] - **Long-lasting Technology**: Demonstrated longevity with batteries still operational after years of use, providing significant savings to customers [29] Future Growth and Market Segments - **Targeted Markets**: Expanding into robotics, airport ground equipment, and energy storage, with expected multimillion revenue in robotics by 2026 [18][24] - **Partnerships**: Collaborations with major companies like Toyota Material Handling and Sumitomo Corporation to enhance market reach [26][27] - **Emerging Technologies**: Developing solid-state batteries and energy as a service models to diversify offerings [36][39] Financial Health and Investment - **Recent Funding**: Completed an equity round raising $28 million and secured a $25 million working capital facility from BMO [44] - **Revenue Growth**: Anticipated revenue of approximately $20 million for Q4, continuing a growth trajectory [43][44] Key Challenges and Considerations - **Cost Differential**: Higher initial costs for Electrovaya's batteries compared to conventional options, but justified by performance and safety benefits [49][50] - **Market Complexity**: Navigating a complex battery market with various emerging technologies and competitors [19][20] Conclusion Electrovaya is positioned as a leader in the lithium-ion battery market for mission-critical applications, leveraging its unique technology and strong financial performance to expand into new markets while maintaining a focus on safety and longevity. The company is well-prepared for future growth with ongoing investments in manufacturing and technology development.

Core Insights - Electrovaya Inc. provided a business update highlighting insider stock purchases, progress on its Jamestown gigafactory, and capital deployment from a recent equity raise [1][4][5] Group 1: Business Developments - The company is making steady progress on its lithium-ion cell and battery manufacturing facility in Jamestown, New York, supported by drawdowns from a direct loan facility from the Export-Import Bank of the United States (EXIM) [2][3] - The EXIM-supported funding is crucial for enhancing Electrovaya's domestic manufacturing capabilities to meet the growing demand for high-durability lithium-ion batteries in various markets [3] Group 2: Insider Transactions - Recent open-market purchases of common shares by the CEO and CFO demonstrate management's confidence in the company's growth and long-term shareholder value creation [4] Group 3: Capital Deployment - Proceeds from the November 6, 2025 equity offering will be used for several key initiatives, including: - Enhancements to the Infinity Battery Platform for rapid-charging capabilities [5] - Development of next-generation separator technology for improved thermal performance [5] - Strategic R&D investment in solid-state battery technology [5] - Expansion of the Energy-as-a-Service (EaaS) program to support recurring revenue models [5][6] Group 4: Upcoming Financial Results - Electrovaya plans to provide further operational updates with the publication of its fiscal fourth-quarter financial results, expected during the week of December 8, 2025 [7]

Core Viewpoint - Electrovaya Inc. is actively participating in several upcoming conferences to enhance its visibility and engagement with investors and industry stakeholders [1] Company Participation in Conferences - The CEO of Electrovaya, Dr. Raj DasGupta, will attend the 15th Annual Craig-Hallum Alpha Select Conference on November 18, 2025, at Sheraton NY Times Square Hotel, New York, NY [1] - The company will also be present at the 17th Annual Southwest IDEAS Conference on November 19, 2025, at The Westin Irving Convention Center Las Colinas, Irving, TX [1] - Additionally, Electrovaya will participate in the 13th Annual UBS Global Industrials & Transportation Conference from December 1-4, 2025, at Eau Palm Beach Resort and Spa, Manalapan, FL [1] Company Overview - Electrovaya Inc. is recognized as a leader in the global energy transformation, focusing on the development of safe and long-lasting lithium-ion batteries [1] - The company possesses extensive intellectual property and specializes in designing, developing, and manufacturing proprietary lithium-ion batteries and battery systems [1] - Electrovaya's products are aimed at energy storage and heavy-duty electric vehicles, utilizing its Infinity Battery Technology Platform [1]

Core Points - Electrovaya Inc. has successfully closed its public offering of 4,700,000 common shares at a price of US$5.20 per share [1] - The underwriters exercised their overallotment option in full, leading to the issuance of an additional 705,000 common shares [1] - The total gross proceeds from the offering amount to approximately US$28.1 million before deducting underwriting discounts and commissions [1]

Core Points - Electrovaya Inc. announced the pricing of its public offering of 4,700,000 common shares at a price of US$5.20 per share [1] - The company has granted underwriters a 30-day option to purchase an additional 705,000 common shares at the public offering price, excluding underwriting discounts and commissions [1] Company Overview - Electrovaya is a leading lithium-ion battery technology and manufacturing company [1] - The company is listed on both NASDAQ and TSX under the ticker symbols ELVA [1]

Core Viewpoint - Electrovaya Inc. is initiating an underwritten public offering of its common shares to raise capital for various strategic investments and operational needs [1][3]. Group 1: Offering Details - The offering will include a 30-day option for underwriters to purchase an additional 15% of common shares at the public offering price [1]. - The common shares will be offered in the U.S. under a previously filed shelf registration statement and will also be qualified for distribution in Canada, excluding the Province of Québec [2]. - Oppenheimer & Co. Inc. is the sole book-running manager, while Raymond James Ltd. is the lead manager for the offering [3]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for investments in energy as a service, next-generation battery and separator R&D, and general corporate purposes [3]. Group 3: Regulatory and Compliance - The offering is subject to customary closing conditions, including the listing of common shares on the TSX and NASDAQ, and any required approvals [4]. - Access to the prospectus and related documents will be provided in accordance with securities legislation [5][6].

Core Insights - Electrovaya Inc. has established a subsidiary in Japan named Electrovaya Japan to enhance its commercial activities and support its customer base in the Japanese market [1] Company Expansion - The new subsidiary will serve as a local platform for Electrovaya to expand its operations in Japan [1] - This move is aimed at strengthening the company's strategic relationships within the growing Japanese market [1]