Flux Power Holdings, Inc. Provides Earnings Guidance for the First Quarter and Full Year of 2021
October 01, 2020 at 11:17 am
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Flux Power Holdings, Inc. provides earnings guidance for the first quarter and full year of 2021. For the quarter, the company expects seasonally slower revenue quarter, reflecting customers not purchasing or installing new equipment over the historically slower summer months of July and August. However, Flux Power anticipates significant year over year growth for the quarter, but a lower growth quarter compared with the prior two quarters. Based on an expanded line-up of product offerings, current pipeline of large customer procurement discussions, and projected new customer acquisitions, the current growth trajectory is anticipated to continue, with potential upside attributable to accelerating demand for lithium-ion solutions.
For the year, the company anticipates revenue growth to continue its FY’20 momentum in FY’21 reflecting: a growing preference for high performing, cost-efficient, and reliable lithium-ion battery solutions over legacy lead acid based solutions; the strength of its current order backlog and potential purchasing plans of existing customers; and the impact of a full product line of lithium-ion battery packs.
Flux Power Holdings, Inc. design, develop, manufacture, and sell a portfolio of advanced lithium-ion energy storage solutions for electrification of a range of industrial commercial sectors which include material handling, airport ground support equipment (GSE), and other commercial and industrial applications. The Companyâs modular and scalable design allows different configurations of lithium-ion battery packs to be paired with the Companyâs proprietary wireless battery management system to provide the level of energy storage required. The Company offers energy storage packs for use in a variety of industrial motive applications. The Companyâs has leveraged its Class 3 Walkie Pallet Pack design to develop energy storage packs for larger forklifts, GSE Packs, and other industrial equipment applications. Natural product extensions, based on its modular, scalable designs, include solar backup power for electric vehicle mobile charging stations and robotic warehouse equipment.