Electrovaya reports prelim Q4 revenue of $9.7M; reiterates FY23 outlook
- Electrovaya (OTCQB:EFLVF) has reported prelim revenue of $9.7M for fourth quarter of fiscal year 2022.
- That would represent an increase of ~131% compared to the fiscal fourth quarter ended Sep 30, 2021.
- John Gibson, CFO of Electrovaya, said: "The fourth quarter was a record-breaking period for Electrovaya. The team consistently met production targets and customer demands. Were it not for some minor supplier delays late in the quarter, we would have generated even higher revenue."
- For FY22, prelim revenue was $19.5M, representing a growth of ~68% Y/Y.
- Electrovaya (OTCQB:EFLVF) expects this strong momentum to continue in 2023 fiscal year, leading to significant revenue growth. It reiterated revenue guidance for the 2023 fiscal year of ~$42M.
