Flux Power (FLUX) Registration filing summary

Company overview and business model

• Designs, manufactures, and sells advanced lithium-ion energy storage solutions for industrial and commercial sectors, focusing on material handling and airport ground support equipment.

• Offers modular, scalable battery packs with proprietary wireless battery management systems and telemetry for real-time monitoring.

• Targets large fleet customers and OEMs, emphasizing environmentally friendly alternatives to lead acid and propane-based solutions.

• Holds three patents related to battery life optimization, health monitoring, and AI-driven cell balancing.

• Operates primarily in North America, with a single manufacturing facility in California and a customer service center in Georgia.

Financial performance and metrics

• Fiscal 2025 revenue was $66.4M, up 9% from $60.8M in 2024; gross profit margin improved to 33% from 28%.

• Net loss for fiscal 2025 was $6.7M, a 20% improvement from $8.3M in 2024; adjusted EBITDA loss narrowed to $147K from $4.0M.

• For the nine months ended March 31, 2026, revenue was $33.9M (down 32% YoY), with a net loss of $5.1M.

• As of March 31, 2026, cash balance was $0.4M, with $10.3M available under the credit facility, but substantial doubt exists about the ability to continue as a going concern.

• Major customer concentration: two to three customers accounted for 73–78% of annual revenues in recent periods.

Use of proceeds and capital allocation

• May receive up to $40M in gross proceeds from sales of common stock to Roth Principal Investments under the committed equity facility.

• Proceeds will be used for working capital and general corporate purposes, with management retaining broad discretion over allocation.

• Recent capital raises include a $5M private placement and a $9.8M public offering in late 2025.