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Electrovaya
(TSX:ELVA)
Electrovaya (ELVA) vs. S&P 500 (SPY)
Electrovaya Business Overview & Revenue Model
Electrovaya Financial Statement Overview
| Breakdown | |||||
| TTM | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | Sep 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 32.97M | 44.59M | 43.37M | 19.17M | 9.92M | 13.66M | Gross Profit |
| 9.82M | 13.66M | 11.16M | 4.33M | 2.26M | 4.07M | EBIT |
| -64.00K | 729.00K | 1.20M | -7.09M | -7.28M | -3.90M | EBITDA |
| 2.10M | 2.92M | 1.25M | -6.42M | -4.55M | 4.42M | Net Income Common Stockholders |
| -858.00K | -1.49M | -1.48M | -6.55M | -7.53M | 1.11M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 3.43M | 781.00K | 1.03M | 626.00K | 4.20M | 1.12M | Total Assets |
| 12.92M | 39.48M | 36.51M | 18.08M | 14.98M | 10.64M | Total Debt |
| 0.00 | 20.77M | 19.03M | 19.11M | 11.53M | 12.81M | Net Debt |
| -3.43M | 19.99M | 18.00M | 18.49M | 7.33M | 11.69M | Total Liabilities |
| 3.19M | 30.90M | 29.37M | 24.00M | 16.67M | 19.36M | Stockholders Equity |
| 9.73M | 8.59M | 7.15M | -5.92M | -1.70M | -8.71M |
| Cash Flow | Free Cash Flow | ||||
| 1.99M | 913.00K | -5.36M | -11.86M | -8.68M | -3.94M | Operating Cash Flow |
| 2.03M | 1.04M | -4.86M | -11.81M | -8.12M | -3.90M | Investing Cash Flow |
| -281.00K | -666.00K | -903.00K | -423.00K | -560.00K | -115.00K | Financing Cash Flow |
| 5.37M | -629.00K | 6.20M | 9.52M | 10.92M | 3.56M |
Electrovaya Technical Analysis
Electrovaya Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $162.36M | ― | -0.21% | ― | 2.20% | 89.34% | |
64 Neutral | $4.39B | 12.06 | 5.17% | 249.63% | 4.03% | -11.04% | |
47 Neutral | C$14.89M | ― | -157.10% | ― | 177.07% | 29.71% | |
36 Underperform | C$4.96M | ― | -1239.25% | ― | -10.98% | 9.25% |
Electrovaya Earnings Call Summary
Electrovaya Corporate Events
Electrovaya reported a 40% year-over-year increase in revenue to $15 million for Q2 2025, marking its eighth consecutive quarter of positive adjusted EBITDA. The company achieved a net profit of $0.8 million and maintained strong margins. Electrovaya secured significant financing, including a $51 million loan from the Export-Import Bank of the United States and a $20 million working capital facility from the Bank of Montreal, to support its manufacturing expansion in New York. The company is also expanding into new market verticals and growing its recurring revenue base, positioning itself for sustained growth and innovation in the lithium-ion battery sector.
The most recent analyst rating on (TSE:ELVA) stock is a Buy with a C$4.00 price target. To see the full list of analyst forecasts on Electrovaya stock, see the TSE:ELVA Stock Forecast page.
Spark’s Take on TSE:ELVA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELVA is a Neutral.
Electrovaya’s overall score reflects strong revenue growth and strategic expansions as key strengths, balanced against high debt levels and negative net margins as significant risks. Technical indicators suggest positive momentum, while valuation metrics are unfavorable due to ongoing profitability issues. Earnings call insights reinforce a positive trajectory with strategic growth plans, though financial risks and execution remain concerns.
To see Spark’s full report on TSE:ELVA stock, click here.
Electrovaya Inc. has commenced battery system assembly operations at its Jamestown, New York facility, marking a significant milestone in its manufacturing investment in the region. The company plans to expand operations in response to growing demand and aims to start lithium-ion cell and module production by mid-2026. With over $40 million in capital equipment orders funded by a $51 million loan from the Export Import Bank of the United States, Electrovaya is positioning itself to become a leading domestic lithium-ion battery manufacturer in the U.S., supporting its strategic growth and strengthening its market presence.
Spark’s Take on TSE:ELVA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELVA is a Neutral.
Electrovaya exhibits strong revenue growth and cash flow improvements, which are key strengths. The company’s strategic expansions and recent corporate achievements suggest a promising outlook. However, high debt levels and negative net margins pose significant risks, and valuation metrics are unfavorable. Overall, while there are positive signs, financial risks and valuation concerns moderate the stock’s appeal.
To see Spark’s full report on TSE:ELVA stock, click here.
Electrovaya Inc. has been awarded the Make More in America Deal of the Year Award at the Export-Import Bank of the United States’ 2025 Annual Conference. This recognition highlights Electrovaya’s commitment to onshoring lithium-ion battery manufacturing to the U.S., supported by a $51 million loan from EXIM to expand its production capacity in Jamestown, New York. The expansion is expected to create 290 U.S. jobs and shift a significant portion of production from Asia to the U.S., enhancing the company’s market presence and contributing to U.S. economic security.
Spark’s Take on TSE:ELVA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELVA is a Neutral.
Electrovaya shows strong revenue growth and strategic expansions, which are promising for future prospects. However, high debt levels and negative margins present risks. Positive earnings call insights and corporate events suggest a positive trajectory, but execution risks remain due to valuation concerns.
To see Spark’s full report on TSE:ELVA stock, click here.
Electrovaya Inc. announced the release date for its Q2 2025 financial results, which will be disclosed on May 14, 2025, followed by a conference call hosted by the CEO and CFO to discuss the results and provide a business update. This announcement is significant for stakeholders as it provides insights into the company’s financial health and strategic direction, potentially impacting its market positioning and investor confidence.
Spark’s Take on TSE:ELVA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELVA is a Neutral.
Electrovaya shows strong revenue growth and strategic expansions, which are promising for future prospects. However, high debt levels and negative margins present risks. Positive earnings call insights and corporate events suggest a positive trajectory, but execution risks remain due to valuation concerns.
To see Spark’s full report on TSE:ELVA stock, click here.
Electrovaya Inc. announced its participation in the Advanced Clean Transportation Expo 2025, where it will showcase its latest lithium-ion battery modules and systems manufactured in the USA. These products, designed for mission-critical and heavy-duty applications, highlight Electrovaya’s focus on safety and longevity, potentially enhancing its market position in the electric vehicle industry.
Spark’s Take on TSE:ELVA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELVA is a Neutral.
Electrovaya’s overall score of 60 reflects strong revenue growth and strategic expansions, contributing positively to future prospects. However, the high debt levels, negative net margins, and valuation concerns offset these strengths. Technical indicators suggest limited momentum, and while the earnings call and corporate events provide a positive outlook, execution risks remain.
To see Spark’s full report on TSE:ELVA stock, click here.
Electrovaya Inc. announced the appointment of Prof. Donald R. Sadoway, a renowned scientist and MIT professor, to its Board of Directors. Sadoway’s expertise in battery technology and environmentally sound metals extraction is expected to enhance Electrovaya’s efforts in accelerating the energy transition and strengthening its position in the lithium-ion battery industry.
Spark’s Take on TSE:ELVA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELVA is a Neutral.
Electrovaya’s strong revenue growth and cash flow improvements are notable strengths, but high debt levels and negative net margins pose risks. Technical indicators show mixed signals, suggesting cautious optimism. The company has positive strategic expansions and client engagements, which are promising. However, valuation concerns persist due to ongoing net losses. Earnings call insights and corporate events suggest a positive trajectory with growth potential, though execution risks remain.
To see Spark’s full report on TSE:ELVA stock, click here.
Electrovaya Inc. announced that its CEO, Dr. Raj DasGupta, will participate in a panel discussion on strengthening domestic manufacturing at the 2025 EXIM Bank Annual Conference in Washington, DC. The company recently secured a US$50.8 million loan from EXIM to expand its battery manufacturing facility in Jamestown, New York, addressing the growing demand for its products. This move is part of Electrovaya’s strategy to enhance its manufacturing capabilities in the U.S., focusing on producing its proprietary Infinity lithium-ion ceramic cells known for their longevity and safety.
Spark’s Take on TSE:ELVA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELVA is a Neutral.
Electrovaya’s strong revenue growth and cash flow improvements are notable strengths, but high debt levels and negative net margins pose risks. Technical indicators show mixed signals, suggesting cautious optimism. The company has positive strategic expansions and client engagements, which are promising. However, valuation concerns persist due to ongoing net losses. Earnings call insights and corporate events suggest a positive trajectory with growth potential, though execution risks remain.
To see Spark’s full report on TSE:ELVA stock, click here.
Electrovaya has secured a significant purchase order valued at $8.7 million from a leading Fortune 500 retailer in the United States to supply batteries for material handling electric vehicles at three distribution centers. This order follows a previous $4.1 million order from the same customer and is part of a broader fleet conversion strategy, indicating strong ongoing demand for Electrovaya’s battery solutions and potential for further expansion in 2025 and 2026.
Electrovaya Inc. announced the approval of all resolutions at its 2024 Annual General Meeting, including the election of six directors with over 97% of votes in favor. The re-appointment of MNP LLP as auditors was also confirmed. This outcome reflects strong shareholder support and positions Electrovaya for continued leadership in the energy storage and electric vehicle sectors.
Electrovaya Inc. announced that all resolutions at its 2024 Annual General Meeting were approved, with six directors re-elected by a significant majority. The re-appointment of MNP LLP as auditors was also confirmed, reflecting strong shareholder support and stability in the company’s governance. This outcome reinforces Electrovaya’s strategic direction and operational continuity, potentially strengthening its industry position and stakeholder confidence.
Electrovaya Inc. has received a significant follow-on purchase order valued at approximately US$7.3 million from a leading Fortune 100 e-commerce company for its lithium-ion batteries. This order, which follows a previous $3.5 million order, will be used to power material handling electric vehicles in distribution centers across the United States and Canada. The repeat business underscores Electrovaya’s role in supporting the customer’s mission to adopt clean energy solutions, potentially enhancing its market positioning and stakeholder confidence.
Electrovaya has secured an additional US$7.3 million order from a Fortune 100 e-commerce company for its lithium-ion batteries, following a previous $3.5 million order in November 2024. These batteries will power material handling electric vehicles in distribution centers across the U.S. and Canada. This repeat order signifies Electrovaya’s strengthening position in the market for clean energy solutions, with over 2000 Infinity batteries now deployed in more than 40 distribution centers across three countries. The order is expected to enhance Electrovaya’s market presence and support the customer’s sustainability goals.
Electrovaya has secured a $50.8 million direct loan from the Export-Import Bank of the United States to expand its battery manufacturing facility in Jamestown, New York. This funding, combined with additional financial resources, will support the company’s aggressive expansion plans in the U.S., creating over 250 jobs and enhancing its export capabilities to countries like Japan, Canada, and Australia. The expansion will also contribute to the development of U.S. supply chains for lithium-ion battery production.
Electrovaya has secured a $20 million credit facility from the Bank of Montreal to enhance its growth and reduce costs. This new facility, which includes a three-year term and an option to expand by $5 million, replaces existing debt and lowers capital costs, thus strengthening Electrovaya’s financial position. It supports operations in both the U.S. and Canada and enables financing from the U.S. Export-Import Bank for manufacturing investments in Jamestown. This strategic financial move is expected to bolster Electrovaya’s expansion plans and facilitate its pursuit of vertically integrated lithium-ion battery manufacturing in the U.S.
Electrovaya has secured an additional US$4.2 million order for its lithium-ion batteries from a rapidly growing cold storage logistics operator in the United States. This repeat order underscores the customer’s reliance on Electrovaya’s advanced battery technology, with over $13 million in purchases and plans for further expansion, highlighting the company’s strengthening position in the energy storage market and its potential impact on the logistics sector.
Electrovaya Inc. has announced the early startup of its battery system assembly operations in Jamestown, New York, set for April 2025. This initiative marks the first phase of a significant investment in American manufacturing, with plans to invest over $70 million in their Jamestown facility. This expansion is driven by increasing demand for Electrovaya’s products in heavy-duty and mission-critical electrified applications, positioning the company as a key independent lithium-ion battery manufacturer in the U.S.