Core Viewpoint - Electrovaya Inc. has announced a public offering of 5,175,000 common shares priced at US$2.15 per share, aiming to raise approximately US$11.1 million, potentially US$12.8 million if the over-allotment option is fully exercised [1][3]. Group 1: Offering Details - The offering is managed by Roth Capital Partners as the sole book-running manager, with Raymond James Ltd. and Craig-Hallum Capital Group LLC as co-lead managers [2]. - The gross proceeds from the offering are expected to be approximately US$11.1 million, or US$12.8 million if the over-allotment option is exercised in full [3]. - The offering is expected to close on or about December 18, 2024, subject to customary closing conditions [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to satisfy cash collateral conditions for a loan approved by the Export-Import Bank of the United States, repay existing working capital facility amounts, and cover costs related to financing and the purchase of the Jamestown, New York manufacturing facility [3]. Group 3: Regulatory and Compliance - The offering is made in the United States under a shelf registration statement declared effective by the SEC and will be qualified for distribution in Canada, excluding the Province of Québec [5]. - A preliminary prospectus supplement has been filed with the SEC and will be available for free on the SEC's website [6].

Financial Data and Key Metrics Changes - Revenue for fiscal 2024 was $44.6 million, a slight increase from $44.1 million in fiscal 2023, with Q4 revenue at $11.6 million [26] - Gross margin improved to 30.7% in fiscal 2024 from 26.9% in the prior fiscal year, translating into an additional $1.8 million of gross profit [27] - Adjusted EBITDA grew by $0.8 million to $4.1 million for the year, with Q4 adjusted EBITDA at $1.5 million, marking six consecutive quarters of positive adjusted EBITDA [29] - Net loss for fiscal 2024 was $1.4 million, flat compared to the prior year, with positive cash flow from operating activities of $1 million, a significant improvement from cash used of $5.2 million in the prior year [30] Business Line Data and Key Metrics Changes - The battery system margin was slightly higher at 31.3% for the year, indicating strong operational performance [28] - The company experienced a flat revenue performance despite delays from customers, reflecting a higher degree of customer diversification [18] Market Data and Key Metrics Changes - There is increasing demand for material handling battery products, particularly from newly constructed distribution centers and retrofit opportunities [15] - A significant order was received from a Fortune 500 retailer to equip two distribution centers, with plans for further conversions [16] Company Strategy and Development Direction - The company secured a $51 million direct loan from the Export-Import Bank of the United States to expand lithium-ion cell manufacturing in Jamestown, New York, which is expected to enhance capacity and margins [11] - The Jamestown facility is anticipated to start commercial cell manufacturing in the first half of 2026, with battery system manufacturing beginning in 2025 [14] - The company is focusing on vertical integration to improve gross margins and reduce lead times, which will facilitate larger purchases from customers [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for fiscal year 2025, expecting revenue growth to exceed $60 million driven by robust customer demand [11] - The company is well-positioned to navigate potential tariff impacts due to its domestic manufacturing capabilities [56] - Management highlighted the importance of domestic manufacturing and the potential for improved margins with the Jamestown facility coming online [58] Other Important Information - The company is developing new products based on its Infinity technology and progressing with solid-state battery development, with expectations for product launches in 2025 [23][24] - The company has established supply agreements for high voltage battery systems in various applications, including defense and electrified locomotives [22] Q&A Session Summary Question: What is the level of visibility into customer orders for fiscal '25? - Management indicated that the Fortune 100 customer, which typically orders over $10 million annually, had a disappointing fiscal 2024 but has already started ordering for 2025, with expectations to return to historical levels [40] Question: How does the company plan to approach fiscal '25 revenue guidance? - Management stated that they have been conservative in their approach and will provide updates each quarter, with expectations to ramp production starting in January [46] Question: How will the Jamestown facility impact gross margins? - Management expects vertical integration to improve margins by eliminating costs associated with overseas contract manufacturers and shipping [60] Question: How is the company addressing tariff-related issues? - Management believes the Jamestown operations will insulate the company from tariff impacts, allowing for domestic production [56] Question: What are the expectations for adjusted EBITDA margins once Jamestown is operational? - Management anticipates that Jamestown will be OpEx light, contributing significantly to EBITDA as revenue increases [91]

Core Viewpoint - The market is mispricing Electrovaya (NASDAQ: ELVA), with an estimated value of nearly $10 per share while currently trading at $2 [1] Company Analysis - The next earnings call for Electrovaya is anticipated in January, although the exact date has not been announced [1] - The focus is on small to mid-cap companies with disruptive technology, indicating a strategic investment approach [1] - The analyst emphasizes the importance of competitive analysis and researching company founders and their previous endeavors [1] Investment Strategy - The investment horizon is typically two years, but positions may be held for longer periods depending on performance [1] - The analyst has a background in investment, having experienced various market cycles, which informs their investment strategy [1] Historical Context - The analyst's family has a history of investing, with lessons learned from past market downturns, including the 1929 stock market crash and the oil crises of the 1970s [1] - The analyst's focus has shifted to the electrification of various sectors, reflecting current market trends [1]

Electrovaya Inc. (NASDAQ:ELVA) Q3 2024 Earnings Conference Call August 13, 2024 5:00 PM ET Company Participants Rajshekar DasGupta - CEO John Gibson - CFO Conference Call Participants Eric Stine - Craig-Hallum Craig Irwin - ROTH Capital Partners Amit Dayal - H.C. Wainwright Operator Greetings. Welcome to the Electrovaya Q3 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions ...

Company Participants Conference Call Participants Operator I will now turn the conference over to your host, John Gibson, CFO. You may begin. Thank you. Good morning, everyone, and thank you for joining today's call to discuss Electrovaya's Q2 2024 financial results. Today's call is being hosted by Dr. Raj Das Gupta, CEO of Electrovaya; and myself, John Gibson, CFO. As with previous calls, our comments today are subject to the normal provisions related to forward-looking information. We will provide informa ...

Electrovaya Inc. (ELVA) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of $0.03. This compares to break-even earnings per share a year ago. These figures are adjusted for non- recurring items. This quarterly report represents an earnings surprise of -166.67%. A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced break-even earnings, delivering a surprise of 100%. Over the last four quarters, the company has surp ...

Amit Dayal I think it's just a process. Yes, there's no other significant milestones. As Raj alluded to, the environmental work would usually take five, six to eight weeks to complete, but that due diligence has been cut down quite significantly. So, that was really one of the only things that kind of was lingering in the background. So, now it's just a process going through the remaining questions with the lender and getting over the line. Jeffrey Campbell Okay. Thank you, Gib. Appreciate the answers. Pave ...

Electrovaya Inc. (NASDAQ:ELVA) Q4 2023 Earnings Conference Call January 3, 2024 8:00 AM ET Raj DasGupta I'd say our most consistent buyers are three retailers, all Fortune 500 and Fortune 100 names. We're seeing growth in the food distribution segment. We're working with probably the world's largest group there. And we're pleased to say there's a growing list of very well-known customer names that consistently buy our products. Okay. Thank you. Raj DasGupta Very clear. I appreciate that. Can I also get an u ...

John Gibson - CFO Eric Stine - Craig Hallum Tom Curran - Seaport Research Operator John Gibson Also, please note that all the numbers discussed on the call are in U.S. dollars, unless otherwise stated. And now I'd like to turn the call over to Raj. Company Participants Conference Call Participants Pavel Molchanov - Raymond James Aaron Martin - AIGH Investment Partners I will now turn the conference over to your host, John Gibson, CFO. You may begin. If you would like a copy of the release, you can access it ...

Hi, congratulations on the progress as well. A couple of additional questions. Aaron, thank you for letting me ask some questions. LetÂ's say, for example, the bus application Infinity technology, is that critical in the bus application where thatÂ's differentiated for you? Or is that itÂ's not as critical for the bus application? And what I mean to say is itÂ's very easy to understand sort of stationary application for energy storage, how it can make a massive difference in terms of lifetime and finance ab ...