Flux Power Holdings, Inc. Reports $6.7 Million Net Loss for 2023

Flux Power Holdings, Inc. (FLUX), a leading provider of advanced e nergy storage systems for electric industrial vehicles, has released its financial results for the year ending June 30, 2023. The report reveals a significant net loss of $6.7 million but also highlights a remarkable achievement in revenue, with the company generating $66.3 million during the same period. Let's delve into the details of Flux Power's financial performance and strategic developments.

Revenue Surges to Record Levels

Flux Power experienced a substantial increase in its revenue during the fiscal year 2023. The company reported total revenues of $66.3 million, marking a substantial growth compared to the previous fiscal year's revenue of $42.3 million. This remarkable increase in revenue is indicative of Flux Power's growing presence in the electric industrial vehicle sector, as businesses increasingly adopt sustainable solutions.

Net Loss Narrows Despite Challenges