Electrovaya (ELVA) Q3 2026 earnings summary

Executive summary

• Signed a long-term commercial agreement with Amazon, formalizing and expanding a key customer relationship and establishing a framework for broader collaboration in robotics and stationary energy storage.

• Launched ElvaPulse 1500, a high-power stationary energy storage system targeting data centers and critical infrastructure, with strong commercial interest and initial deliveries targeted for Q2 2027.

• Jamestown manufacturing facility nearing operational status, with major equipment construction completed and production validation and ramp-up planned for 2027.

• Achieved record gross margins and adjusted EBITDA, with Q3 gross margin at 34.9% and adjusted EBITDA at $3.7 million, up 27% year-over-year.

• Net profit for Q3 was $0.3 million, marking the sixth consecutive quarter of profitability.

Financial highlights

• Q3 revenue was $17.7 million, up from $17.1 million year-over-year; nine-month revenue reached $51.3 million, up 18.5%.

• Gross margin for Q3 was 34.9%, up 410 basis points year-over-year; nine-month gross margin was 33.8%.

• Operating profit for Q3 was $0.8 million, down from $1.9 million due to higher SG&A and stock-based compensation; nine-month operating profit was $4.3 million, up 37%.

• Adjusted EBITDA for Q3 was $3.7 million (20.7% margin), up 27% year-over-year; nine-month adjusted EBITDA was $8.5 million, up 56%.

• Closing cash balance at Q3 FY2026 was $13.1 million, up from $1.3 million a year earlier.

Outlook and guidance

• Full-year normalized revenue expected at $70–$73 million, with $5 million of deferred high-voltage system revenue and some delayed material handling revenue to be recognized early in fiscal 2027.

• High-voltage battery systems and new verticals (robotics, stationary storage) expected to become significant contributors in 2027 as Jamestown comes online.

• Order and delivery activity expected to normalize as supply chain constraints resolve.

• Revenue guidance is subject to risks from supply chain, customer demand, and macroeconomic conditions.