![]() ![]() Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. This release contains projections and other "forward-looking statements" relating to Flux Power’s business, that are often identified using "believes," "expects" or similar expressions. ![]() ![]() For more information, please visit Forward-Looking Statements Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. Flux Power’s lithium-ion battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. We look forward to providing additional insight and results of our full fiscal year financial results on our upcoming earnings call,” concluded Dutt.įlux Power (NASDAQ: FLUX) designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of a range of industrial and commercial sectors including material handling, airport ground support equipment (GSE), and stationary energy storage. “With record new order growth, an expanding customer base, and accelerating clean energy demand, we believe our growth trajectory in fiscal year 2022 is on track for another record revenue year. Additional interest from the emerging robotic material handling equipment vertical is also driving demand as these customers look to improve their productivity and equipment integration. We are seeing strong growth from both the material handling equipment sector and the airport ground support equipment sector. We believe the combination of repeat customer orders and continued acquisition of new customer business can drive revenue growth to $100 million and beyond in the next several years. “Looking closer at our customer breakdown, we are building a strong portfolio of nearly 74% ‘ongoing, repeat’ customers in fiscal 2022. We believe our products will benefit as electrification extends to material handling and other equipment supported by Flux as customers transition their entire fleets to clean energy solutions. The recently passed Inflation Reduction Act includes tax and other incentives that are aimed at significantly accelerating the adoption of zero-emission technologies for commercial vehicles. Additional momentum is being driven by the accelerating ‘economy-wide’ renewable energy transition. Our strategic initiatives to accelerate backlog conversion to shipments and increase inventory turns are also driving revenue results and gross margins that will lead toward profitability. ![]() Ron Dutt, Flux Power Chief Executive Officer, commented, “We believe new purchase orders in our fiscal year 2022 are a strong indicator of our potential to reach $70 million in annual revenue run rate in the near term. Our strategy reflects a “relationship,” not transactional, business with our customers that provides ongoing new purchase needs and service requirements. While not an exact measure, we estimate that purchase orders indicate future revenue potential from new customers in fiscal year 2022 was 26% of revenue, with the remaining 74% from repeat customers. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, today announced combined purchase orders from new and existing customers in excess of $64 million in the fiscal year June 30, 2022, which was more than 82% over the order volume for fiscal year June 30, 2021. VISTA, Calif.-( BUSINESS WIRE)- Flux Power Holdings, Inc. ![]()
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