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Flux Power Holdings, Inc. (NASDAQ: FLUX) is frequently featured in news coverage for its work in advanced lithium-ion energy storage and software-driven electrification for commercial and industrial equipment. News about Flux Power often centers on its activities in material handling, airport ground support equipment (GSE), and stationary energy storage, as well as developments in its battery management and software platforms.
Recent announcements have highlighted multi‑million‑dollar purchase orders from major North American airlines for lithium-ion solutions used in ground support equipment such as baggage tractors, belt loaders, and aircraft pushbacks. The company has also reported repeat orders from a leading global food and beverage distribution company and a global industrial equipment manufacturer, reflecting continued adoption of its material handling energy solutions.
Flux Power news updates include technology milestones, such as a U.S. patent for a State of Health (SoH) system that uses algorithms and predictive modeling to monitor and extend the life of lithium-ion battery packs. The company has also announced UL EE Listing across its material handling portfolio and UL 1973 Listing for its 80V G80‑G2 solution for GSE applications, which are presented as important safety and reliability certifications.
Investors following FLUX news will also see coverage of capital markets activity, including public offerings, private placements, and SEC registration statements, as well as disclosures about Nasdaq listing compliance. Conference participation, investor presentations, and quarterly and annual financial results are additional recurring themes. This news page aggregates these updates so readers can review Flux Power’s reported orders, certifications, software releases, financial disclosures, and governance developments in one place.
Flux Power Holdings (NASDAQ: FLUX) has appointed Krishna Vanka as its new Chief Executive Officer, effective March 10, 2025. Vanka succeeds Ron Dutt, who had previously announced his planned retirement.
Vanka brings 18 years of experience in technology leadership, particularly in renewable energy, EV transition, fleet management, and telematics. He most recently served as CEO of Fluence Digital, part of Fluence Energy, where he managed recurring revenue businesses including battery energy storage solutions (BESS) and professional services.
His prior leadership roles include positions at InCharge Energy, MyShoperoo, and Telogis. Dale Robinette, Lead Director of Flux Power, expressed confidence in Vanka's ability to lead the company into its next growth phase, citing his experience and industry relationships with Fortune 500 companies.
Flux Power Holdings (NASDAQ: FLUX) has secured its first purchase order from one of the largest U.S. medical supply companies for lithium-ion battery packs. The order includes 36-volt M36-series and L36-series batteries with integrated telematics technology for fleet data analysis.
The batteries will power narrow aisle forklifts and three-wheel forklifts as part of the customer's material handling fleet electrification strategy. This order marks the beginning of the customer's transition to lithium-ion energy solutions, focusing on operational efficiency and environmental responsibility.
Flux Power Holdings (NASDAQ: FLUX) announced its participation in ProMat 2025, scheduled for March 17-20 at Chicago's McCormick Place, where they will exhibit in Lakeside Hall Booth #E11730.
The company will showcase its next-generation lithium-ion battery packs for Class I-III material handling equipment, featuring enhanced capacity and improved efficiency. The solutions are engineered for heavy-use applications, offering longer run times and reduced maintenance costs.
During the event, Flux Power will demonstrate SkyBMS, their intelligent battery telematics system providing real-time data for fleet management. They will also preview their upcoming Customer Interface Energy Management solution, planned for launch in 2025, designed to offer enhanced energy usage control and insights.
Flux Power Holdings (NASDAQ: FLUX) has received a non-compliance notice from Nasdaq on February 21, 2025, due to failing to file its Quarterly Report (Form 10-Q) for the period ended December 31, 2024. The notice does not immediately affect FLUX's Nasdaq listing. The company must submit an updated compliance plan to Nasdaq by March 10, 2025.
If Nasdaq accepts the plan, FLUX may receive up to 180 days (until April 14, 2025) from the initial delinquent filing due date to submit all required reports and regain compliance. The company states it is working to complete and file the Forms 10-Q promptly.
Flux Power Holdings (NASDAQ: FLUX) announced that Chief Technology Officer Paulus Geantil will participate in an expert panel discussion at the Future of Electrification Virtual Conference, hosted by Zapi Group on February 26, 2025. The panel, titled 'The Impact of Battery Technology in the Adoption of Electrification,' will address key factors including battery production costs, longevity compared to ICE alternatives, and the role of advanced energy storage solutions.
As a developer of advanced lithium-ion energy storage solutions for commercial and industrial equipment electrification, Flux Power aims to support the industrial sector's transition through innovation and sustainability. The company leverages SkyBMS technology, advanced telematics, and real-time data analytics to optimize battery performance and fleet operations.
Flux Power (NASDAQ: FLUX) reported fiscal year 2024 results with revenue decreasing 8.5% to $60.8M from $66.5M in FY2023. Despite lower revenue, gross profit increased 8.5% to $17.2M, with gross margin improving to 28% from 24%. The company completed a restatement of previous financials, identifying $5.2M in cumulative adjustments over four years.
Q4 2024 revenue declined 18.4% to $13.4M compared to $16.4M in Q4 2023, while maintaining gross profit at $3.6M. The backlog as of December 31, 2024, was $17.5M. Higher interest rates and market uncertainties led some customers to defer orders to FY2025 and FY2026.
CEO Ron Dutt announced his retirement, with a search underway for his successor. The company made key executive appointments including Kevin Royal as CFO, Kelly Frey as Chief Revenue Officer, and Mark Barmettler as Senior Director Engineering.
Flux Power Holdings (NASDAQ: FLUX) has appointed Kelly Frey as Chief Revenue Officer, replacing Tod Kilgore who will retire effective January 31, 2025. Kilgore will remain as a consultant to facilitate the transition. Frey brings over 20 years of experience in sales and marketing leadership, with expertise in battery and energy storage, SaaS industrial, and IoT industries.
Frey's background includes leadership positions at Fluence Energy, Descartes Systems Group, Verizon/Telogis, and OnX. He specializes in building global sales teams, driving revenue growth, and implementing disciplined pipeline management. His experience spans direct-to-customer sales, OEMs, resellers, and distributors.
In his new role, Frey will oversee revenue generation strategies, align sales and marketing efforts, and focus on price optimization and market expansion. He will be instrumental in maximizing revenue potential and sustaining long-term growth for the lithium-ion energy storage solutions developer.
Flux Power Holdings (NASDAQ: FLUX) received a non-compliance notice from Nasdaq on November 20, 2024, for failing to file its Form 10-Q for the period ended September 30, 2024, and Form 10-K for fiscal year ended June 30, 2024. While this notification doesn't immediately affect the company's Nasdaq listing, Flux Power must submit a compliance plan by December 16, 2024. If Nasdaq accepts the plan, the company may receive up to 180 days (until April 14, 2025) to regain compliance. The company states it's working to complete and file both forms promptly.
Flux Power Holdings (NASDAQ: FLUX) announced that Chairman and CEO Ron Dutt plans to retire after 12 years of service. The Board of Directors has initiated a comprehensive succession plan with a national search firm to identify the next CEO. Dutt will remain in his roles until a successor is appointed and through the transition period.
Under Dutt's leadership, Flux Power evolved from a pre-revenue startup to a recognized provider of lithium-ion energy storage solutions for motive lift and ground support equipment markets. The company notably developed the market-penetrating lithium-ion battery pack for high-volume 'walkie' pallet jacks.
Flux Power Holdings (NASDAQ: FLUX) provided an update on its restatement process and SEC filings. The company identified approximately $4.9 million in adjustments, including $4.4 million in noncash inventory write-downs and $0.5 million in warranty-related items. These adjustments, stemming from excess and obsolete inventory due to product innovation, will impact multiple quarters across multiple years. Flux is restating financial statements for fiscal year 2023 and interim periods of 2024. The company has completed its internal review and is working with auditors to file the restated reports, followed by the Q1 2025 10-Q filing.