Flux Power Q1 adjusted EBITDA loss widens, misses estimates
FLUX•Flux Power’s fiscal first-quarter adjusted EBITDA loss widened to $2.6 million, missing the $2.08 million consensus, while revenue fell sharply year over year. The company cut operating expenses by 22% year over year and forecast fiscal Q2 revenue of $7 million to $8 million.
1. Quarterly results
Flux Power reported a fiscal first-quarter adjusted EBITDA loss of $2.6 million, compared with analyst expectations for a $2.08 million loss. Revenue fell sharply year over year, and the company reported a $3.2 million net loss and a $1.7 million gross profit.
2. Costs and outlook
The company reduced operating expenses by 22% year over year through cost-cutting. It forecast fiscal second-quarter revenue of $7 million to $8 million and said it is evaluating financing alternatives and strategic partnerships for financial flexibility.
3. Business developments
Flux Power said its largest material handling customer resumed orders after a prior pause, and early wins and follow-on orders in its Robotics vertical contributed to first-quarter performance. It also launched a campaign targeting large fleet operators and said it expects growing demand for lithium-ion battery solutions.
