![]() Strategic Supply Chain & Profitability Improvement Initiatives continued to accelerate path to cash flow breakeven.Renewed the existing credit facility with Silicon Valley Bank, a division of First Citizens Bank of $14.0 million to support working capital requirements.Customer order backlog totaled $25.0M as of March 31, 2023.Adjusted EBITDA loss decreased 80% in Q3’23 compared to Q3’22 and decreased 74% for the nine months ended Macompared to the nine months ended March 31, 2022.Net cash used in operating activities decreased 16% in Q3’23 compared to Q3’22 and 73% for the nine months ended March 31, 2023, compared to the nine months ended March 31, 2022.Operating Leverage continued its positive trend for the nine months ended March 31, 2023, of revenue growth and gross margin improvement compared with no increase of operating expense.Q3’23 gross margin was 31% compared to 15% in Q3’22, reflecting gross margin improvement initiatives including sourcing changes, design cost reductions, and pricing recovery of pandemic related cost increases.Gross profit increased 146% to $4.7M in Q3’23 compared to $1.9M in Q3’22.Achieved 19th consecutive quarter of year-over-year revenue growth.Revenue (Shipments) increased 14% to $15.1M in Q3’23 compared to Q3’22 revenue of $13.2M.Key Financial & Operational Highlights for the Third 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 third quarter ended March 31, 2023. ![]() Management to Host Conference Call Today at 4:30 p.m. Third Quarter Fiscal 2023 Gross Profit Increased 146% to $4.7 Million Third Quarter Fiscal 2023 Revenue Increased 14% to $15.1 Million
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