Reports Q1 revenue $17.8M, consensus $11.84M. "Our first quarter of fiscal year 2023 delivered our 17th consecutive quarter of year-over-year revenue growth and further reduction of our backlog as we continue to focus on fulfilling orders," said Ron Dutt, Chief Executive Officer of Flux Power. "This quarter saw gross profit increase 195% to $3.9M and gross margin expand to 22% compared to $1.3M and 21%, respectively, in the year-ago period. Growth was driven by both installed and new customers, while new order flow in First Quarter reflected unevenness of purchasing patterns. Progress with new accounts was substantial, adding two new customers in the new fiscal year, which have fleet potential and at least seven-figure revenue potential."
Published first on TheFly
