FLUX - Flux Power GAAP EPS of -$0.10 beats by $0.08 revenue of $17.2M beats by $2.96M

February, 09 2023 04:10 PM Flux Power Holdings, Inc.

Flux Power press release ( NASDAQ: FLUX ): Q2 GAAP EPS of -$0.10 beats by $0.08 .
Revenue of $17.2M (+123.4% Y/Y) beats by $2.96M .
Gross profit for the fiscal second quarter of 2023 increased to $4.1 million compared to a gross profit of $1.0 million in the fiscal second quarter of 2022. Gross margin was 24% in the fiscal second quarter of 2023 as compared to 14% in the fiscal second quarter of 2022,
Research & Development expenses decreased to $1.2 million in the fiscal second quarter of 2023, compared to $2.1 million in the fiscal second quarter of 2022,
Net loss for the fiscal second quarter of 2023 decreased to $1.7 million from a net loss of $5.1 million in the fiscal second quarter of 2022,
Adjusted EBITDA loss decreased to $0.9 million for the fiscal second quarter of 2023 from an adjusted EBITDA loss of $1.5 million for the fiscal first quarter of 2023 and decreased to $2.4 million for the six months ended December 31, 2022, an improvement from a loss of $8.5 million for the six months ended December 31, 2021.
Cash was $0.2 million at December 31, 2022, as compared to $0.5 million at June 30, 2022.

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