Electrovaya (NASDAQ:ELVA) Posts Earnings Results

Electrovaya (NASDAQ:ELVA) announced its earnings results on Thursday. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02, Zacks reports. Electrovaya had a net margin of 5.27% and a return on equity of 14.21%.

Here are the key takeaways from Electrovaya’s conference call:

• Electrovaya reported a strong Q1 FY2026 with $15.5M revenue (+39% YoY), 32.9% gross margin, ~$2M adjusted EBITDA and ~$1M net income — the fourth consecutive profitable quarter.
• The company strengthened its balance sheet via a $28M equity raise, $22.7M cash on hand and EXIM financing (drawn $16.4M of $50M), and has begun Jamestown facility upgrades with cell production targeted late FY2026/early FY2027 (no cell revenue expected in FY2026).
• Commercial traction is accelerating across verticals — OEM high‑voltage battery deliveries are scheduled to begin in March 2026, modular 48V robotics deliveries started in January, and defense engagements expanded to a second application with defense expected to be a meaningful revenue contributor this year.
• R&D pipeline advancing — an ultra‑fast Infinity cell targeting ~5‑minute charge/discharge and 800‑volt DC energy storage systems are targeted for commercialization in 2027, solid‑state cell scale‑up begins in April, and a new head of energy storage was hired.
• Testing of airport ground support equipment with a major U.S. airline is taking longer than initially expected, which could delay larger-scale orders and near-term revenue from that product line.

Electrovaya Price Performance

Shares of Electrovaya stock traded down $0.56 during trading on Thursday, reaching $8.75. 541,296 shares of the company’s stock were exchanged, compared to its average volume of 710,393. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.93 and a current ratio of 4.16. Electrovaya has a 1-year low of $1.80 and a 1-year high of $11.88. The company has a market cap of $419.65 million, a P/E ratio of 97.23 and a beta of 1.36. The firm’s 50-day moving average price is $8.46 and its 200 day moving average price is $6.64.

Wall Street Analyst Weigh In

ELVA has been the topic of a number of recent research reports. Zacks Research upgraded Electrovaya from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Electrovaya in a report on Monday, December 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $9.50 price target on shares of Electrovaya in a research note on Thursday, December 11th. Oppenheimer began coverage on shares of Electrovaya in a research report on Thursday, December 18th. They set an “outperform” rating and a $14.00 price objective for the company. Finally, Roth Mkm set a $7.00 price objective on shares of Electrovaya in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.13.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. grew its holdings in shares of Electrovaya by 5,575.3% during the 3rd quarter. Raymond James Financial Inc. now owns 67,536 shares of the company’s stock valued at $398,000 after purchasing an additional 66,346 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Electrovaya in the 3rd quarter valued at approximately $887,000. First Trust Advisors LP acquired a new stake in Electrovaya in the third quarter valued at approximately $468,000. Mink Brook Asset Management LLC grew its stake in shares of Electrovaya by 4.4% during the second quarter. Mink Brook Asset Management LLC now owns 395,101 shares of the company’s stock worth $1,347,000 after buying an additional 16,713 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Electrovaya by 297.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 48,925 shares of the company’s stock worth $386,000 after buying an additional 36,601 shares in the last quarter. Institutional investors and hedge funds own 22.47% of the company’s stock.

About Electrovaya

Electrovaya is a Canada-based energy storage company that designs and manufactures advanced lithium-ion battery systems and components. The company’s core business revolves around the development of proprietary electrode and cell technologies that deliver high energy density, rapid charge capability and enhanced safety features. Electrovaya’s product portfolio encompasses large-format battery cells, modules, complete battery packs and integrated energy storage systems tailored to industrial, commercial and utility-scale applications.

In the industrial sector, Electrovaya supplies modular battery systems for material-handling equipment such as electric forklifts, automated guided vehicles and airport ground support vehicles.