Electrovaya Inc. (ELVA) Income Statement
ELVA FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsELVA revenue and net income
Where ELVA's revenue goes
FY2025Each bar shows an amount and its share of revenue. ELVA kept 5.3% of revenue as net income.
ELVA profit margins
ELVA growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +42.6% | +59.7% | +36.0% | +14.4% |
| Gross profit | +42.5% | +82.1% | +36.7% | +14.6% |
| Operating income | +659.9% | — | — | — |
| Net income | — | — | +24.8% | — |
| EPS (diluted) | — | — | +47.6% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ELVA quarterly EPS vs estimates
Electrovaya beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: December 9, 2026 (estimate $0.01).
ELVA income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $63.6M | $44.6M | $43.4M | $15.6M | $9.9M | $13.7M | $4.4M | $5.6M | $2.3M | $19.5M |
| Cost of revenue | $44.1M | $30.9M | $32.2M | $12.4M | $7.7M | $9.6M | $2.9M | $3.9M | $1.4M | $14.7M |
| Gross profit | $19.5M | $13.7M | $11.2M | $3.2M | $2.3M | $4.1M | $1.5M | $1.8M | $905,000 | $4.9M |
| Research & development | $4.4M | $3.0M | $3.4M | $3.4M | $4.6M | $2.7M | $2.9M | $3.8M | $3.0M | $6.1M |
| Sales, general & admin | $8.4M | $9.0M | $6.8M | $6.3M | $4.5M | $3.0M | $3.9M | $4.4M | $1.9M | $5.5M |
| Total operating expenses | $13.9M | $12.9M | $10.0M | $10.5M | $9.5M | $8.0M | $8.5M | $12.0M | $5.6M | $13.3M |
| Operating income | $5.5M | $729,000 | $1.2M | −$7.3M | −$7.3M | −$3.9M | −$7.1M | −$10.2M | −$4.7M | −$8.4M |
| Interest expense | $2.6M | $3.2M | $2.5M | $2.3M | $2.7M | $3.1M | $2.1M | $3.5M | $2.9M | $853,000 |
| Income before taxes | $1.3M | −$1.5M | −$2.2M | −$9.2M | −$7.5M | $1.1M | −$2.8M | −$10.2M | −$4.7M | −$8.6M |
| Income taxes | −$2.1M | — | −$679,000 | $2.3M | −$6.6M | −$6.1M | −$6.1M | −$6.1M | $16.5M | $177,000 |
| Net income | $3.4M | −$1.5M | −$1.5M | −$9.2M | −$7.5M | $1.1M | −$2.8M | −$22.7M | −$21.2M | −$8.8M |
| EBITDA | $5.4M | $2.9M | $1.2M | −$6.4M | −$4.5M | $4.4M | −$608,000 | −$6.4M | −$1.4M | −$7.2M |
| EPS (diluted) | $0.07 | −$0.01 | −$0.07 | −$0.25 | −$0.25 | $0.01 | −$0.12 | −$2.05 | −$1.12 | −$0.52 |
| Gross margin | 30.6% | 30.6% | 25.7% | 20.6% | 22.8% | 29.8% | 33.3% | 31.3% | 39.8% | 24.9% |
| Operating margin | 8.7% | 1.6% | 2.8% | −46.5% | −73.4% | −28.5% | −159.5% | −180.9% | −206.7% | −43.1% |
| Net margin | 5.3% | −3.3% | −3.4% | −59.0% | −75.9% | 8.1% | −64.1% | −402.2% | −930.7% | −45.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.3M | $17.8M | $15.6M | $20.3M | $17.1M | $15.0M | $11.2M | $11.6M | $10.3M | $10.7M | $12.1M | $17.2M |
| Cost of revenue | $11.7M | $12.3M | $10.4M | $14.1M | $11.9M | $10.3M | $7.8M | $8.6M | $6.8M | $7.0M | $8.6M | $12.4M |
| Gross profit | $5.5M | $5.5M | $5.1M | $6.1M | $5.3M | $4.7M | $3.4M | $3.0M | $3.5M | $3.7M | $3.5M | $4.7M |
| Research & development | $396,664 | $1.5M | $1.2M | $1.2M | $1.2M | $1.1M | $984,000 | $395,000 | $1.0M | $642,000 | $964,000 | $1.1M |
| Sales, general & admin | $3.7M | $2.6M | $2.3M | $2.3M | $1.8M | $1.9M | $2.4M | $1.8M | $2.7M | $2.1M | $2.4M | $1.2M |
| Total operating expenses | $4.1M | $4.0M | $3.7M | $3.7M | $3.3M | $3.3M | $3.6M | $2.3M | $4.0M | $3.0M | $3.6M | $275,000 |
| Operating income | $1.5M | $1.5M | $1.4M | $2.4M | $2.0M | $1.4M | −$190,000 | $710,000 | −$584,000 | $703,000 | −$100,000 | $4.5M |
| Interest income | — | — | — | — | — | — | — | — | $130,000 | — | — | — |
| Interest expense | $374,248 | $537,450 | $483,000 | $825,000 | $452,000 | $642,000 | $685,000 | $932,000 | $697,000 | $1.5M | $738,000 | $763,000 |
| Income before taxes | $297,254 | $1.0M | $939,000 | −$5,000 | $907,000 | $828,000 | −$420,000 | −$114,000 | −$324,000 | −$839,000 | −$208,000 | $3.1M |
| Income taxes | — | — | −$99,000 | −$2.1M | — | — | — | — | −$67 | $1 | −$3 | −$670,378 |
| Net income | $297,254 | $1.0M | $1.0M | $2.0M | $907,000 | $828,000 | −$420,000 | −$114,000 | −$324,000 | −$839,000 | −$208,000 | $3.1M |
| EBITDA | $2.0M | $2.0M | $1.8M | $1.3M | $1.7M | $1.8M | $582,000 | $1.1M | $731,000 | $442,000 | $820,000 | $1.2M |
| EPS (diluted) | $0.01 | $0.02 | $0.02 | $0.04 | $0.02 | $0.02 | −$0.01 | −$0.00 | −$0.01 | −$0.02 | $0.02 | $0.02 |
| Gross margin | 32.1% | 31.0% | 32.9% | 30.2% | 30.8% | 31.1% | 30.5% | 25.8% | 33.7% | 34.8% | 29.2% | 27.5% |
| Operating margin | 8.6% | 8.5% | 8.8% | 11.7% | 11.5% | 9.3% | −1.7% | 6.1% | −5.7% | 6.6% | −0.8% | 25.9% |
| Net margin | 1.7% | 5.6% | 6.7% | 10.1% | 5.3% | 5.5% | −3.8% | −1.0% | −3.2% | −7.8% | −1.7% | 18.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ELVA's financial statements (latest annual report filed December 19, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ELVA financial results
In fiscal year 2025 (ended September 30, 2025), Electrovaya reported revenue of $63.6 million, up 42.6% from the year before. It had net income of $3.4 million, a net profit margin of 5.3%. Diluted earnings per share came to $0.07. Over five years revenue grew at an average rate of 36.0% a year.
See the ELVA stock overview for the latest quote and news, or the ELVA chart for price history and technical indicators.
ELVA income statement FAQ
What is Electrovaya's annual revenue?
Electrovaya reported total revenue of $63.6 million for fiscal year 2025, which ended on September 30, 2025. That was up 42.6% from $44.6 million the previous year.
Is Electrovaya profitable?
Yes. Electrovaya reported net income of $3.4 million in fiscal 2025, a net profit margin of 5.3%; its operating margin was 8.7%.
What is Electrovaya's gross margin?
Electrovaya's gross margin was 30.6% in fiscal 2025: for every $100 of revenue, Electrovaya kept $31 after the direct cost of its products and services.
How much does Electrovaya spend on research and development?
Electrovaya spent $4.4 million on research and development in fiscal 2025, 6.9% of revenue.
How fast is Electrovaya growing?
Revenue grew 36.0% a year on average over the last five fiscal years, from $13.7 million to $63.6 million.
What are Electrovaya's earnings per share?
Electrovaya earned $0.07 per diluted share in fiscal 2025, compared with $-0.01 a year earlier.
When will Electrovaya report its next earnings?
Electrovaya is expected to report results for the quarter ending September 30, 2026 on December 9, 2026 after the market closes.
When does Electrovaya's fiscal year end?
Electrovaya's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on December 19, 2025.