Electrovaya (ELVA) investor relations material

Executive summary

• Q2 2026 revenue reached $18 million, up 20% year-over-year, with six-month revenue at $33.6 million, up 28%.

• Adjusted EBITDA for Q2 was $2.8 million, up 41% year-over-year; net profit was $1 million, up 23% year-over-year.

• Commercial deliveries of new battery systems for robotics and defense contractors began, with shipments of high-voltage battery systems and initial deliveries to a major OEM.

• Jamestown manufacturing facility expansion is progressing, with assembly operations and key hires on track for summer 2026.

• Focus on new product development, technology advancement, and entry into new verticals such as robotics and defense.

Financial highlights

• Gross margin for Q2 2026 was 33.4%, up 230 basis points year-over-year; six-month gross margin was 33.2%.

• Operating profit for Q2 was $2.2 million, up 56% year-over-year; six-month operating profit was $3.6 million, up 195%.

• Positive cash from operating activities of $4.3 million for the six months ended March 31, 2026; closing cash balance was $20.4 million.

• Equity doubled to $62.8 million as of March 31, 2026, compared to $31.1 million at September 30, 2025.

• Adjusted EBITDA margin for Q2 was 15.7%.

Outlook and guidance

• Fiscal 2026 revenue growth expected to exceed 30% over FY 2025, targeting over $83 million.

• Some orders may be deferred due to macroeconomic and geopolitical uncertainty, but underlying demand remains strong.

• Potential for order timing shifts into fiscal 2027; management remains confident in long-term outlook.

• Energy storage segment expected to become a significant revenue contributor starting in 2027.

• Guidance based on existing purchase orders and anticipated pipeline; subject to potential deferrals and external risks.