Flux Power Holdings, Inc. (FLUX) Reports Q4 Loss of $0.63/sh

Flux Power Holdings, Inc. (NASDAQ: FLUX) reported Q4 EPS of ($0.63), versus ($0.64) reported last year. Revenue for the quarter came in at $6.3 million, versus $3.02 million reported last year.

Fiscal Year 2021 Outlook

Flux Power anticipates revenue growth to continue its FY’20 momentum in FY’21 reflecting: (i) a growing preference for high performing, cost-efficient, and reliable lithium-ion battery solutions over legacy lead acid based solutions; (ii) the strength of its current order backlog and potential purchasing plans of existing customers; and (iii) the impact of a full product line of lithium-ion battery packs.

The first quarter (Q1’21) of the fiscal year is a seasonally slower revenue quarter, reflecting customers not purchasing or installing new equipment over the historically slower summer months of July and August. However, Flux Power anticipates significant year over year growth for the quarter, but a lower growth quarter compared with the prior two quarters. Based on an expanded line-up of product offerings, current pipeline of large customer procurement discussions, and projected new customer acquisitions, the current growth trajectory is anticipated to continue, with potential upside attributable to accelerating demand for lithium-ion solutions. Flux Power also expects to further enhance gross margins across its product lines as Flux Power implements a series of clearly defined initiatives to advance technology, design, production and purchasing efficiencies, as well as benefiting from growing economies of scale.

CEO Ron Dutt added, “While the timing of sales continues to be difficult to predict each quarter, we are ever confident in the outlook for fiscal 2021 based on customer dialogues across all product lines.”

For earnings history and earnings-related data on Flux Power Holdings, Inc. (FLUX) click here.

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