Flux Power Announces Record Quarterly Revenue of $7.0M for Third Quarter of FY 2021; Increase of 38% YOY
VISTA, Calif.–(BUSINESS WIRE)–Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion industrial batteries for commercial and industrial equipment, today reported financial results for its third quarter of fiscal year 2021 (Q3’21).
- Q3’21 revenue grew 38% to a record $7.0M compared to Q3’20 revenue of $5.1M.
- Q3’21 gross margin increased to 24.1% compared to 12.8% in Q3’20.
- Achieved 11th consecutive quarter of year-over-year revenue growth.
- Received initial orders for two major new customers – a global packaging company and a paper & chemicals manufacturer/distributor.
- Continued progress on increasing gross margins.
- Launched the…