Electrovaya Reports Fiscal Year Q1 2026 Results

Quarterly Revenue of $15.5M up 39% YoY; Adjusted EBITDA¹ of $2M, up 265% YoY, and Net Profit of $1M ($0.02/share)

Strong Progress with the development of ultra-high rate charging cell and system technology along with other product development activities

Reaffirms Fiscal 2026 Revenue Guidance Exceeding $83M

TORONTO, ON / ACCESS Newswire / February 12, 2026 / Electrovaya Inc. ("Electrovaya" or the "Company") (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today reported its financial results for the first quarter and fiscal year ended September 30, 2026 ("Q1 FY 2026"). All dollar amounts are in U.S. dollars unless otherwise noted.

Foto: Accesswire

Financial Highlights:

• Revenue for Q1 FY 2026 was $15.5 million, compared to $11.1 million in Q1 2025. An increase of $4.4 million or 39% year over year

• Gross margin for Q1 FY 2026 was 32.9%, compared to 30.5% in Q1 2025. An increase of 240 basis points.

• Adjusted EBITDA¹ was $2.0 million, compared to $0.5 million in Q1 2025, an increase of $1.4 million or 265%. Q1 2025 was the Company's eleventh consecutive quarter of positive Adjusted EBITDA¹.

• Net profit was $1.0 million compared to a net loss of $0.4 million in Q1 2025, an increase of $1.4 million. Earnings per share was $0.02 for Q1 2026 compared to $(0.01) for Q1 2025.

• The Company generated positive cash from operations of $1.9 million for Q1 2026, compared to cash generated from operations of $1.0 million in Q1 2025. Cash generated from operating activities before net changes in working capital was $1.7 million for FY2025 compared to cash used of $(0.3) million for Q1 2025. A significant improvement in operating cash flow of $2.0 million.

• The closing cash balance for Q1 2026 was $22.7 million (non-restricted) compared to $8.2 million for Q1 2025, an increase of $14.5 million.

Key Operational and Strategic Highlights- Q1 FY2026 & Subsequent Events:

Business Development Activities

• Continued progress across our core material handling vertical, with new OEM-integrated high-voltage battery systems scheduled to begin deliveries in March 2026.

• Deliveries were made during the quarter to a global defense contractor for a new vehicle platform, expanding our supply relationship to two distinct applications with this OEM.