Flux Power Holdings, Inc. Reports Net Loss of $6.7 Million for the Year Ended June 30, 2023
Annual Revenue of $66.3 Million
By USInMinutes
Published - Sep 21, 2023, 07:50 PM ET
Last Updated - Sep 21, 2023, 07:50 PM EDT
Flux Power Holdings, Inc. [FLUX], a leading provider of advanced energy storage systems, has announced its financial results for the year ended June 30, 2023. The company recorded a net loss of $6.7 million on annual revenue of $66.3 million. This report provides a detailed analysis of Flux Power's financial performance and highlights its plans for the future.
Financial Performance
Despite the net loss, Flux Power achieved a significant increase in revenue compared to the previous year. In 2022, the company reported revenue of $42.3 million, indicating a growth rate of approximately 57%. This growth can be attributed to the strong demand for Flux Power's advanced energy storage solutions in various industries.
