Flux Power(US:FLUX)2022-05-24 18:52Company Overview - Flux Power's market capitalization is $37 million with 16 million shares outstanding and a float of 114 million[7] - The company specializes in developing sustainable lithium-ion energy storage solutions for material handling, airport ground support, and other industrial equipment[8] - Flux Power has shipped total battery packs throughout North America[49] Financial Performance - Revenue increased by 89% to $132 million in Q3'22 compared to $70 million in Q3'21[10] - The company achieved its 15th consecutive quarter of year-over-year revenue growth[10] - Customer order backlog reached a record $386 million as of March 31, 2022[10, 65] - Inventory increased to $209 million as of March 31, 2022, due to pre-purchasing to support increasing sales orders[65] Market and Growth - The estimated lithium-ion market share of electric forklifts is approximately 5%[42] - The addressable annual market for electric forklifts is $25 billion[42] - The electric forklift market size is estimated to reach $3 billion by 2030, with lithium market share growing to 70% ($2 billion) and Flux Power aiming for $800 million in annual revenue[42] - The estimated market size of internal combustion Ground Support Equipment (GSE) that can be replaced by electric GSE is over $400 million[48]