Electrovaya (NASDAQ:ELVA) Announces Quarterly Earnings Results, Meets Expectations

Electrovaya (NASDAQ:ELVA) issued its quarterly earnings data on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, meeting 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 Stock Performance

Shares of NASDAQ:ELVA traded down $0.56 during trading on Thursday, reaching $8.75. 541,296 shares of the stock were exchanged, compared to its average volume of 710,393. Electrovaya has a 12 month low of $1.80 and a 12 month high of $11.88. The stock has a 50-day moving average price of $8.46 and a 200-day moving average price of $6.64. The company has a current ratio of 4.16, a quick ratio of 2.93 and a debt-to-equity ratio of 0.71. The firm has a market cap of $419.65 million, a PE ratio of 97.23 and a beta of 1.36.

Institutional Trading of Electrovaya

Several institutional investors have recently added to or reduced their stakes in ELVA. Dimensional Fund Advisors LP acquired a new position in Electrovaya in the 3rd quarter valued at $74,000. Millennium Management LLC bought a new stake in shares of Electrovaya in the third quarter valued at about $95,000. Virtu Financial LLC bought a new stake in shares of Electrovaya in the third quarter valued at about $96,000. Susquehanna International Group LLP acquired a new position in shares of Electrovaya in the third quarter valued at about $97,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Electrovaya during the third quarter worth about $118,000. 22.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ELVA shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $9.50 target price on shares of Electrovaya in a research note on Thursday, December 11th. Zacks Research upgraded Electrovaya from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Oppenheimer assumed coverage on Electrovaya in a research report on Thursday, December 18th. They issued an “outperform” rating and a $14.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Electrovaya in a research note on Monday, December 29th. Finally, Roth Mkm set a $7.00 target price on Electrovaya in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Electrovaya presently has a consensus rating of “Moderate Buy” and an average price target of $10.13.

Electrovaya Company Profile

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.