Electrovaya Reports Q3 FY2021 Financial Results - Seite 3

Notwithstanding short-term challenges, management believes its business outlook is strong and intends to build on the progress to date in FY2021. Uncertainty surrounding the duration and potential outcomes of the COVID-19 pandemic appears to be diminishing as vaccinations increase, but management is currently unable to predict the future impacts of the pandemic on the Company's operations and financial results. Furthermore, while demand for lithium ion batteries from the materials handling electric vehicle sector is emerging, there is associated uncertainty with the future rate of growth as early adopters start their purchasing decisions. . Management will therefore not be providing a short-term financial outlook at this time.

A revised financial outlook will not be provided unless and until such a time as it is possible to make reasonable estimates of the Company's financial results. See "Forward-Looking Statements".

Summary Financial Results

(Expressed in thousands of U.S. dollars)

Foto: Accesswire

¹ Non-IFRS Measure: Adjusted EBITDA is defined as gain (loss) from operations, plus finance costs, stock-based compensation costs and depreciation.Management believes Adjusted EBITDA is a useful measure in providing investors with information regarding financial performance and is an accepted measure in our industry. It is not a measure of financial performance under IFRS, and may not be defined and calculated in the same manner by other companies and should not be considered in isolation or as an alternative to Income (loss) from operations.

Summary Operating Results - Nine Months Ended June 30, 2021

(Expressed in thousands of U.S. dollars)

Foto: Accesswire

Summary Financial Position

(Expressed in thousands of U.S. dollars)

Foto: Accesswire

The Company's complete Financial Statements and Management Discussion and Analysis for the third quarter ended June 30, 2021 are available at www.sedar.com or on the Company's website at www.electrovaya.com.

Conference Call Details:

The Company will hold a conference call on Tuesday, August 10, 2021 at 8:00 a.m. Eastern

Time (ET) to discuss the June 30, 2021 quarter end financial results and to provide a business update.

US and Canada toll free: [phone]

International: + 1(201) 689-8345

Direct webcast:

https://78449.themediaframe.com/dataconf/productusers/eflvf/mediaframe ...