Electrovaya Reports Significant Q1 FY 2026 Growth

Electrovaya Inc., a leading player in lithium-ion battery technology, announced a successful Q1 FY 2026. The company reported $15.5 million in revenue, marking a 39% year-over-year increase. Gross margins rose to 32.9%, up from 30.5% in Q1 2025. Adjusted EBITDA also showed substantial growth, reaching $2 million, a 265% increase compared to the previous year.

The company achieved a net profit of $1 million, a significant turnaround from a $0.4 million loss in Q1 2025. Cash from operations reached $1.9 million with a closing cash balance of $22.7 million. Electrovaya reaffirms its fiscal 2026 revenue guidance, projecting over $83 million.

Operationally, it expanded its product range with new deliveries scheduled for March 2026 and commenced testing its battery systems in varied applications. A Japanese subsidiary has been established to tap into the Asia-Pacific market. The development of ultra-fast charging technology continues, with an expected 2027 commercialization.