Electrovaya Q2 Sales Rise 20% to $18M, Adjusted EBITDA Jumps 41%
Electrovaya posted Q2 FY2026 revenue of $18M, up 20% year-over-year, with adjusted EBITDA of $2.8M (up 41%) and net profit of $1M ($0.02/share). The company closed the quarter with $20.4M cash, achieved UL2580 certification for six battery models, and advanced energy storage and robotics programs for 2027 deliveries.
1. Financial Results
Electrovaya reported Q2 FY2026 revenue of $18.0 million, up $3.0 million or 20% year-over-year, with gross margin rising 230 basis points to 33.4%. Adjusted EBITDA increased 41% to $2.8 million, net profit reached $1.0 million ($0.02/share), and cash balance climbed to $20.4 million.
2. Operational and Certification Achievements
Supply chain delays late in the quarter deferred recognition of $1.4 million in finished goods revenue, but the company completed UL2580 safety certification for six next-generation battery models. Initial commercial robotics shipments have commenced to a major OEM, underscoring progress in the robotics segment.
3. Strategic Initiatives and Outlook
Electrovaya is developing AC-coupled 1500 VDC and DC-coupled 800 VDC energy storage platforms targeting scaled deliveries in H1 2027 and advancing solid-state and ultra-fast charging cell programs. Defense sector engagements are expected to ramp to multi-million-dollar revenues in 2027, while Jamestown manufacturing expansion remains on track to begin assembly this summer.