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Flux Power Holdings, Inc. reports developments in lithium-ion energy storage systems and software-driven electrification for commercial and industrial equipment. The company designs, manufactures, and sells battery packs for material handling fleets, airport ground support equipment, and other industrial applications, with products built around battery management, telemetry, and fleet-energy data.
Recurring FLUX news covers quarterly operating results, customer and OEM orders, airline and cargo-fleet deployments, cost-structure actions, capital actions, and product technology updates. Company announcements also include developments tied to SkyLNK telematics, SkyEMS software, battery State of Health analytics, and intellectual property for monitoring battery performance and service life.
Flux Power Holdings, Inc. (NASDAQ: FLUX) has announced OEM approval for its new L36 battery pack designed for Class 1 3-Wheel Counterbalance forklifts. The L36 comes in 630 Ah and 840 Ah capacity options and features integrated heaters, cooling, and a battery management system. This UL 2580 Listed pack is optimized for heavy-duty applications and includes Flux Power's patented SkyBMS telematics.
CEO Ron Dutt emphasized that this approval validates Flux Power's efforts in providing high-performance lithium-ion battery solutions that meet industry standards. The company aims to support the material handling industry's transition from internal combustion to electric power with their plug-and-play battery packs. Flux Power is also launching a new private label program for another top Forklift OEM this quarter.
Flux Power (NASDAQ: FLUX) will host an investor day on August 7, 2024, from 9:15 AM to 1:15 PM PT at its manufacturing facility in Vista, California. The event will feature CEO Ron Dutt and CFO Kevin Royal, who will present on the company's advancements in lithium-ion technology, growth strategies, and new products. Attendees will tour the 64,000 sq. ft. facility, observing recent manufacturing improvements and new production lines. Highlights include the new M36-G2 and X48-G2 battery packs and the M24 onboard integrated charger. Space is and registration is required.
Flux Power Holdings (NASDAQ: FLUX) will present at the iAccess Alpha Best Ideas Summer Conference, held virtually from June 25-26, 2024.
CEO Ron Dutt and CFO Kevin Royal will participate in virtual one-on-one meetings to discuss the company's expanding sales and marketing initiatives, product line diversification, distribution network, and developing partnerships.
The presentation is scheduled for June 25, 2024, at 12:30 pm ET.
For more information, contact your conference representative or email FLUX@mzgroup.us.
Flux Power Holdings, Inc. (NASDAQ: FLUX) reported its financial results for the fiscal third quarter ended March 31, 2024. Revenue decreased by 4% to $14.5 million, gross profit was down 7% to $4.4 million, and adjusted EBITDA loss was $1.4 million. The CEO highlighted growth in manufacturing, initiatives to improve gross margins, and a backlog of $18.5 million with over $100 million in potential orders. Key appointments include a new CFO and a board director. Cash was $1.3 million on March 31, 2024, with an available credit facility of up to $20 million. The company addressed an EBITDA covenant default and is working towards filing the 10-Q by May 13, 2024. Continued focus on sales, marketing, and expanding product lines to drive growth.
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