Electrovaya (ELVA) Q3 2026 earnings summary

Executive summary

• Signed a long-term commercial agreement with Amazon, including a warrant transaction tied to future revenue milestones, formalizing and expanding a key customer relationship.

• Launched ElvaPulse 1500, a high-power stationary energy storage system targeting data centers and critical infrastructure, with strong early commercial interest.

• Jamestown manufacturing facility nearing operational status, with major equipment construction completed and production ramp expected from Q2 2027.

• Achieved record gross margins and adjusted EBITDA, despite revenue timing shifts due to supply chain constraints and project delays.

• Net profit for Q3 FY2026 was $0.3 million, marking the sixth consecutive quarter of profitability.

Financial highlights

• Q3 revenue was $17.7 million, up 3% year-over-year; nine-month revenue reached $51.3 million, up 18.5%.

• Gross margin for Q3 was 34.9%, up 410 basis points from the prior year; nine-month gross margin was 33.8%.

• Adjusted EBITDA for Q3 was $3.7 million (20.7% of revenue), up 27%; nine-month adjusted EBITDA was $8.5 million, up 56%.

• Net profit for Q3 was $0.3 million (down from $0.9 million); nine-month net profit was $2.4 million (up 80%).

• Closing cash balance at Q3 FY2026 was $13.1 million, up from $1.3 million a year earlier.

Outlook and guidance

• Full-year normalized revenue expected at $70–$73 million, with about $5 million of deferred high-voltage system revenue and delayed material handling activity to be recognized early in fiscal 2027.

• High-voltage battery systems and new verticals (energy storage, robotics) expected to become significant contributors as Jamestown comes online in 2027.

• Order and delivery activity expected to normalize as supply chain constraints resolve.

• Revenue guidance is subject to risks from supply chain, customer demand, and macroeconomic conditions.

• Delays in Jamestown facility ramp-up, government incentives, and customer order patterns could impact results.