Flux Power Reports Fiscal Year 2024 Second Quarter Financial Results
We made good progress during the second fiscal quarter delivering positive Adjusted EBITDA of $0.3 million, an improvement of $1.2 million from an Adjusted EBITDA loss of $0.9 million in the second fiscal quarter of 2023 and sequential improvement from a loss of $1.2 million in the first fiscal quarter of 2024.
- We made good progress during the second fiscal quarter delivering positive Adjusted EBITDA of $0.3 million, an improvement of $1.2 million from an Adjusted EBITDA loss of $0.9 million in the second fiscal quarter of 2023 and sequential improvement from a loss of $1.2 million in the first fiscal quarter of 2024.
- Cash used for operations was also down significantly to $1.0 million in the second fiscal quarter compared to $3.1 million in the first fiscal quarter.
- Gross profit for the fiscal second quarter of 2024 increased 38% to $5.7 million compared to a gross profit of $4.1 million in the fiscal second quarter of 2023.
- Gross margin increased to 31% in the fiscal second quarter of 2024 as compared to 24% in the fiscal second quarter of 2023.