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 ...

Financial Data and Key Metrics Changes - The company reported a record revenue growth of 170% year-over-year, with fiscal year 2023 revenue reaching $44.1 million compared to $16.3 million in fiscal 2022 [86] - Adjusted EBITDA for the year was positive at $3.2 million, an increase of nearly $7 million from the previous year [86] - The overall net loss for the fiscal year improved to $1.4 million, a reduction of over $8.4 million from the prior year [87] Business Line Data and Key Metrics Changes - The majority of revenue growth was driven by increased sales of battery systems for material handling applications, particularly from large corporations [71] - The company has diversified its customer base, with a backlog at the highest level in its history, including large Fortune 100 and Fortune 500 customers [71] Market Data and Key Metrics Changes - The company estimates that its penetration with its first OEM partner in the electrified Class 1 through 3 segments is under 10%, with expectations to increase to approximately 50% by 2027 [74] - The company is expanding its market reach through a new strategic supply agreement with Raymond Corp., which controls over 50% of the North American market for Class 1 to 3 material handling equipment [72] Company Strategy and Development Direction - The company is focusing on fully integrated battery systems as a long-term trend, while continuing to develop its material handling sector as a high growth, high margin business [73] - The company is also pursuing opportunities in electrified transit buses and has established a relationship with a major Japanese trading house to enhance its sales reach [78] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue guidance for fiscal year 2024 in the range of $65 million to $75 million, representing approximately 59% growth at the midpoint [97] - The company is optimistic about becoming a leading battery player in the heavy-duty segment, which is still in its early stages of electrification [99] Other Important Information - The company is making progress in its solid-state battery program, developing proprietary ceramic materials with high ionic conductivity [78] - The Jamestown facility is expected to support approximately 300 megawatt hours of capacity in its first phase, with potential for expansion based on demand [47][80] Q&A Session Summary Question: What factors could lead to the low or high end of the revenue guidance range for fiscal 2024? - Management indicated that the low end is based on a conservative figure from the backlog, while the high end assumes a sizable order from a regular customer [12][9] Question: Can you provide details on new customer names and trends in various segments? - Management noted that the material handling segment has become more diversified, with five major customers contributing to 80-90% of revenue, compared to a single e-commerce company in 2022 [14] Question: What is the expected sales price and margin for the new high-voltage systems? - The company targets around 30% gross margins for the high-voltage systems once they enter mass production [28] Question: What is the timeline for the Jamestown facility and its financing? - Management expects to close financing in the first half of 2024 and is on schedule for startup operations in mid-2025 [19][80] Question: How does the company view the government push for electric buses? - Management confirmed that there are multiple large OEMs in the North American transit bus market, and securing a contract with one could reduce risks for others to adopt their products [42][43]

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 ...

John Gibson - Chief Financial Officer Amit Dayal - H.C. Wainwright Greetings, and welcome to Electrovaya's First Quarter 2023 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] As a reminder, this conference is being recorded. Thanks, Doug. Good evening, everybody, and thank you for joining today's call to discuss Electrovaya's Q1 2023 financial results. Today's call is being ...

Electrovaya Inc. (EFLVF) Q4 2022 Earnings Conference Call December 5, 2022 5:00 PM ET Company Participants John Gibson - CFO Rajshekar DasGupta - CEO Conference Call Participants Amit Dayal - H.C. Wainwright Jeffrey Campbell - Alliance Global Shawn Severson - Water Tower Research Operator Hello and welcome to the ElectrovayaÂ's Q4 Year-End 2022 Financial Results Webcast and Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is be ...

Electrovaya, Inc. (EFLVF) Q3 2022 Earnings Conference Call August 11, 2022 5:00 PM ET Company Participants Sankar Gupta - Executive Chairman Rajshekar Gupta - CEO & Director John Gibson - CFO Conference Call Participants Amit Dayal - H.C. Wainwright & Co. Shawn Severson - Water Tower Research Jeffrey Campbell - Alliance Global Partners Operator Greetings. Welcome to the Electrovaya's Q3 Fiscal Year 2022 Financial Results Analyst Conference Call. [Operator Instructions]. Please note, this conference is being ...

Financial Data and Key Metrics Changes - Revenue for Q2 fiscal 2022 was $4.3 million, a 47% increase from $2.9 million in Q2 fiscal 2021, and more than threefold increase from $1.3 million in Q1 fiscal 2022 [16][17] - Gross margin for Q2 2022 was 25%, down from 32% in Q2 2021, attributed to inflationary pressures and increased shipping costs [17][18] - The company anticipates maintaining gross margin in the range of 30% moving forward [18] Business Line Data and Key Metrics Changes - The company has over $25 million in purchase orders, indicating strong demand and expected revenue growth [8][17] - The Infinity battery platform is currently powering over 3,000 vehicles, with production capabilities to meet increasing demand [10][21] Market Data and Key Metrics Changes - The electric vehicle market is rapidly transforming, with Electrovaya focusing on hard-working electric vehicles and solid-state battery technology [22][23] - The addressable market for Electrovaya is several tens of billions of dollars, with significant interest from Fortune 500 companies [15] Company Strategy and Development Direction - Electrovaya's strategy includes scaling production for the Infinity platform and developing next-generation solid-state battery technologies [25] - The company is focused on maintaining a competitive edge through proprietary technology and partnerships with major corporations [23][47] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about overcoming supply chain challenges and expects to double revenue by the end of fiscal 2022 [7][8] - The company is cautiously optimistic about the solid-state battery program, with ongoing patent filings and production process design [39][40] Other Important Information - The company has increased its line of credit from CAD 7 million to CAD 11 million to support growth [13][19] - Management emphasized the importance of their dedicated workforce in maintaining operations during COVID-19 [14] Q&A Session Summary Question: Status of $6 million orders through OEM channel - Management indicated delays were primarily due to customer-side construction schedules and some supply chain hiccups [27][30] Question: Current timeline to monetize $25 million in orders - Management confirmed that the $25 million order book is expected to be fulfilled within a 12-month period [32][34] Question: Progress on Infinity forklift batteries and relationships in the bus market - Management noted ongoing efforts in the bus market and emphasized the larger potential of the materials handling market [35][36] Question: Economic sensitivity of electrification in material handling - Management highlighted that ROI remains a key factor for customers, and economic slowdowns may drive higher efficiency demands [42][44] Question: Return to gross margin in the low 30s - Management discussed factors affecting gross margin, including locked-in pricing for bulk orders and previous pricing fixed in 2021 [45] Question: Go-to-market strategy for solid-state batteries - Management is focused on perfecting their patent position and technology before launching partnerships, with an emphasis on internal execution [47][49]

Electrovaya Inc. (EFLVF) Q1 2022 Earnings Conference Call February 15, 2022 8:00 AM ET Company Participants Sankar Das Gupta – Co-Founder and Chief Executive Officer Richard Halka – Executive Vice President and Chief Financial Officer Conference Call Participants Jeffrey Campbell – Alliance Global Partners Shawn Severson – Water Tower Research John Luca Tucci – Torrance Capital Operator Greetings and welcome to the Electrovaya's First Quarter 2022 Financial Results and Analyst Conference Call. At this time, ...