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Wednesday, January 03, 2024 9:45:41 AM
Net loss for the year came in at US$1.5 million, narrowing from a net loss of US$9.2 million a year ago.
Adiusted EBITDA in 2023 amounted to US$3.2 million, up from negative US$3.5 million a year ago.
For the fourth quarter of 2023, total revenue was at US$11.9
million and net profit was at US$769,000.
"FY 2023 represented a breakthrough year for the Company with strong revenue growth and over $3.2 million in Adjusted
EBITDA1", said Electrovaya (ELVA) CEO Raj DasGupta.
The company provided fiscal 2024 guidance of US$65
million to US$75 million, supported by an increasing order backlog and an udpated three-year strategic supply agreement with two major original equipment manufacturers in the material handling sector. The guidance
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