Flux Power Holdings, Inc. , a developer of advanced lithium-ion energy storage solutions and software-driven electrification for commercial and industrial equipment, has reported financial and operational results for the 2026 fiscal first quarter ended September 30, 2025.
 
First Quarter and Recent Business Highlights

• Received $2.4 million in repeat orders from a leading global food and beverage distribution company and a global industrial equipment manufacturer
• Secured a large order with another major airline customer, doubling the number of North American airlines served to eight from last year
• Graduated its software SkyEMS 2.0 SaaS platform from beta into production with multiple paying customers
• Received UL EE Listing across its material handling portfolio, opening up a new $1B total addressable market across the chemical, oil & gas, agricultural processing, and pharmaceutical industries
• Received UL 1973 Listing for its G80-G2 lithium-ion solution, the company’s first 80V product for mobile battery energy storage systems (BESS) in the ground support equipment (GSE) industry, resulting in new market opportunities in AGVs and AMRs
• Regained compliance with Nasdaq’s continued listing requirements
• Raised $13.8 million in new capital, net of fees and underwriters’ discount
• Continued to execute on cost reductions in pursuit of profitability goals

CEO Commentary

“First quarter revenue reflected a temporary pause in customer orders due to the uncertainty surrounding the tariff situation and overall near-term caution on the macroeconomic environment,” said Krishna Vanka, Flux Power’s CEO. “That said, we have begun to see order activity materially rebound in the second quarter, highlighted by multi-million-dollar orders from significant material handling customers and a more recent large order from a major new airline customer. Flux Power now supplies eight major North American airline carriers. We also continue to receive strong interest in our SkyEMS SaaS software platform with the recent production release of version 2.0 to a growing number of paying customers.

“Additionally, we further strengthened our financial position and balance sheet through a recent public equity offering and a prior private placement during the quarter, which collectively raised $13.8 million in proceeds net of underwriter’s discount and offering related expenses. This additional capital will be used for working capital purposes, allowing us the flexibility to more rapidly execute on our operating, sales, and product development initiatives as we pursue our ultimate goal of delivering sustained profitability in the quarters ahead. Our strong portfolio of advanced mobile energy storage products combined with our integrated software solutions provide Flux Power significantly expanded market opportunities with both new and existing customers that will be key to driving our future growth and expansion.”

First Quarter Fiscal 2026 Financial Results
Revenue for the first fiscal quarter of 2026 was $13.2 million, compared to $16.1 million in the first fiscal quarter of 2025. Gross profit for the first fiscal quarter of 2026 was $3.8 million, or 28.6% of revenue, compared to $5.2 million, or 32.4% of revenue, in the first fiscal quarter of 2025.

Operating expenses for the first quarter were $5.9 million, compared to $6.4 million in the prior year quarter.

Operating loss for the first quarter was $2.2 million, compared to a loss of $1.2 million in the prior year quarter. Excluding costs associated with the multi-year restatement of previously issued financial statements and stock-based compensation, first quarter non-GAAP operating loss was $2.0 million, compared to an operating loss of $0.6 million in the prior year period.

Net loss for the first quarter was $2.6 million, or ($0.15) per share, compared to a net loss of $1.7 million, or ($0.10) per share, in the first quarter of 2025. On a non-GAAP basis, first quarter net loss was $2.4 million, or ($0.14) per share, which excludes the above-referenced costs, compared to a net loss of $1.1 million, or ($0.06) per share, in the prior year.

Adjusted EBITDA for the first quarter was ($1.7) million, compared to ($0.4) million in the prior year period.

Balance Sheet
As of September 30, 2025, the cash balance was $1.6 million. Subsequent to quarter-end, the Company raised approximately $9.2 million in proceeds net of fees and underwriters discount from a secondary public offering of our common shares. On September 15, 2025, the company closed a private placement offering of prefunded warrants of $4.6 million net of offering related expenses.   The cash impact of both offerings is approximately $12.6 million, net of debt conversion and fees. Additional sources of working capital include a revolving line of credit under a $16.0 million credit facility with Gibraltar Business Capital (“Gibraltar”). Our current borrowing capacity under the Gibraltar line of credit is $16.0 million subject to available collateral as defined by the credit agreement and satisfaction of certain financial covenants.