Flux Power Holdings, Inc., a developer of advanced lithium-ion energy storage solutions and software-driven electrification for commercial and industrial equipment, today reported financial and operational results for the 2026 fiscal third quarter ended March 31, 2026.
Third Quarter and Recent Business Highlights
- Third quarter revenue was $6.6 million
- Implemented additional cost reduction actions, resulting in quarterly operating expenses decreasing 30% year-over-year
- Won Innovation in Sustainability Award at MODEX 2026 from a distinguished panel of industry experts, highlighting Flux Power’s leadership in clean energy solutions for the material handling industry
- Engaging with more OEMs and optimizing the OEM pricing structure for white-label products, improving competitiveness, and securing increased volume commitments
- Added a new large cargo airline customer with a $1.2 million battery order for its material handling equipment
CEO Commentary
“As expected, third quarter revenue was impacted mainly by our most significant material handling customer implementing a capital freeze and dynamic order patterns across the business,” said Krishna Vanka, Flux Power’s CEO. “Additionally, the onset of the geopolitical tensions towards the end of the quarter resulted in fuel price increases that unexpectedly delayed some customer order decisions.
“In response to these near-term challenges, we promptly implemented additional expense reduction actions to maintain our lean cost structure and to enhance future operating leverage. We have also taken steps to optimize our pricing structure to drive OEM volume purchases, enhance our sales organization with new leadership focused on OEM growth, and expand our marketing outreach initiatives and brand awareness. We also had an extremely successful MODEX trade show, winning a coveted industry Sustainability Award, while also meeting with many customers, partners, and OEMs in our booth.”
“As a result of these proactive efforts, we have seen other positive indications of increased order activity across the business that we believe point to renewed sequential revenue growth of about 20% in our fourth quarter. Looking longer-term, we remain focused on executing our strategic initiatives and capitalizing on the many opportunities in the global lithium-ion battery industry, which continues to grow at an increasing rate across the markets we serve.”
2026 Fiscal Third Quarter Financial Results
Revenue for the third fiscal quarter of 2026 was $6.6 million, compared to $16.7 million in the same quarter a year ago. Gross profit for the third fiscal quarter of 2026 was $1.8 million, or 27.3% of revenue, compared to $5.3 million, or 32.0% of revenue, in the third fiscal quarter of 2025.
Operating expenses for the third quarter were $4.8 million, compared to $6.9 million in the same quarter a year ago. The year-over-year decline in operating expenses primarily reflects recent actions taken to reduce headcount and streamline the operating model.
Operating loss for the third quarter was $3.0 million, compared to an operating loss of $1.6 million in the third fiscal quarter of 2025. Excluding costs associated with stock-based compensation, the third quarter non-GAAP operating loss was $2.8 million, compared to a non-GAAP operating loss of $0.8 million in the prior year quarter, which also excluded costs associated with the multi-year restatement of previously issued financial statements.
Net loss for the third quarter was $3.2 million, or ($0.15) per share, compared to a net loss of $1.9 million, or ($0.12) per share, in the third fiscal quarter of 2025. On a non-GAAP basis, excluding the above-referenced stock-based compensation costs, the third quarter net loss was $2.9 million, or ($0.14) per share, compared to net loss of $1.1 million, or ($0.07) per share, in the same quarter a year ago, which also excluded the above-referenced restatement costs.
Adjusted EBITDA for the third quarter was negative $2.5 million compared to negative adjusted EBITDA of $0.5 million in the prior year period.
Balance Sheet
Cash as of March 31, 2026, was $0.4 million compared to $1.3 million as of June 30, 2025.
