Electrovaya Inc (ELVA)

[geodan]

https://apnews.com/press-release/accesswire/business-technology-products-and-services-new-products-and-services-automobile-parts-manufacturing-59cc2c69e90b6f78b3fc3ee8c2fae714

Their 2021 Q1 is same as calendar Q4 the above it it. Tomorrow 8am EST is ConfCall. The sales are up Y/Y a lot (200%) but this is down from Q4. There is a seasonal factor plus first sales from Raymond started Jan 2021 so not in this. They end with:

Positive Financial Outlook:

Additional sales personnel added to our direct sales team and growing momentum through OEM sales network.
UL2580 listing provides safety validation and unique competitive advantage.
Well positioned with working capital for growth from recent equity issues and strengthened balance sheet.
Company reiterates previously issued guidance.
Electrovaya is experiencing strong and growing customer demand for its battery products through both of its key sales channels: direct sales to end customers and OEM distribution.

The Company has added direct sales staff in the United States to bolster its direct sales channel and address the lead acid replacement market. The Company also anticipates growing demand from its OEM sales channel especially with the recent Raymond Strategic Supply Agreement. Raymond Corp is now extensively marketing and promoting Raymond’s lithium ion batteries through the firm’s sales network.

The Company continues to have a positive outlook for 2021. Although the year has started with some sales delays as described above, management anticipates meeting its previously released guidance. See “Forward-Looking Statements”.

Their guidance was high growth and they are still sticking with that.