Exhibit
99.1
Flux
Power Reports 2027 Fiscal First Quarter Financial Results
Vista,
CA — November 3, 2026 — Flux Power Holdings, Inc. (NASDAQ: FLUX) (“Flux Power” or the “Company”),
a leading developer of advanced lithium-ion energy storage solutions and fleet intelligence technology, today reported financial and
operational results for the 2027 fiscal first quarter ended September 30, 2026.
2027
Fiscal First Quarter and Recent Business Highlights
| |
● |
Revenue
for the 2027 fiscal first quarter was $6.8 million |
| |
● |
Operating
expenses for the 2027 fiscal first quarter decreased by 22% from the 2026 fiscal first quarter |
| |
● |
Received
an order from our largest material handling customer |
| |
● |
Continued
to expand reach in the new market vertical of Robotics with a global technology platform customer |
| |
● |
Accelerated
dealer engagement and momentum following achievement of Hyster-Yale certification last quarter |
| |
● |
Announced
three product innovations spanning battery safety with integrated gas detection, expanded material handing applications to additional
truck models and equipment categories, and extended connected fleet intelligence with battery location and intelligent charging alerts |
| |
● |
Guiding
2027 fiscal second quarter revenue to be in the range of $7 million to $8 million |
CEO
Commentary
“We
continued to make meaningful progress across our key operational and sales initiatives, executing with discipline and positioning the
Company for accelerated growth,” said Krishna Vanka, CEO of Flux Power. “I am proud that the team delivered on our $6.8 million
revenue commitment this quarter, despite facing multiple headwinds across the business. I am also pleased to announce that our most significant
customer who previously paused orders returned with a meaningful order through our OEM partner. This win along with a number of
orders through our OEM partners for first-time Flux Power customers demonstrate the initial success of our OEM partnership strategy.”
To
complement these efforts, we launched a go-to-market campaign targeting the 500 largest end-user accounts in North America. This campaign
adds a direct, enterprise-level dialogue with the operators of the largest fleets. We are also converting early wins and securing follow-on
orders in high-growth new verticals, such as Robotics, with our initial global technology platform customer. We are also leveraging our
S-Series as an anchor product for white-label opportunities and advancing a more integrated supply-chain model that is designed to improve
scale and gross margin potential.
“Taken
together, these developments reflect a commercial strategy that we believe is beginning to compound. With a leaner cost structure
and growing market demand for lithium-ion battery solutions, I believe we’re in a much stronger position to drive growth and move
toward profitability in the coming quarters.”
2027
Fiscal First Quarter Financial Results
Revenue
for the 2027 fiscal first fiscal quarter was $6.8 million, compared to $8.2 million in the prior quarter and $13.2 million in the same
quarter a year ago. Gross profit for the fiscal first quarter of 2027 was $1.7 million, or 24.8% of revenue, compared to $2.3 million,
or 27.4% of revenue, in the prior quarter and $3.8 million, or 28.6% of revenue, in same quarter a year ago.
Operating
expenses for the 2027 fiscal first quarter were $4.6 million, compared to $4.4 million in the prior quarter and $5.9 million in the same
quarter a year ago. The year-over-year decrease in operating expenses primarily reflects the benefit of previous actions to reduce headcount
and streamline the operating model.
Operating
loss for the 2027 fiscal first quarter was $3.0 million, compared to an operating loss of $2.1 million in the prior quarter and an operating
loss of $2.2 million in the same quarter a year ago. Excluding costs associated with stock-based compensation, the 2027 fiscal first
quarter non-GAAP operating loss was $2.8 million, compared to a non-GAAP operating loss of $1.9 million in the prior quarter and $2.0
million in the same quarter a year ago.
Net
loss for the 2027 fiscal first quarter was $3.2 million, or ($0.15) per share, compared to a net loss of $2.3 million, or ($0.11) per
share, in the prior quarter and a net loss of $2.6 million, or ($0.15) per share, in the same quarter a year ago. Excluding the above-referenced
stock-based compensation costs, the 2027 fiscal first quarter non-GAAP net loss was $3.0 million, or ($0.14) per share, compared to a
non-GAAP net loss of $2.1 million, or ($0.10) per share, in the prior quarter and a non-GAAP net loss of $2.4 million, or ($0.14) per
share, in the same quarter a year ago.
Adjusted
EBITDA for the 2027 fiscal first quarter was negative $2.6 million, compared to a negative $1.6 million in the prior quarter and a negative
$1.7 million in the same quarter a year ago.
Balance
Sheet
Cash
as of September 30, 2026 was $0.4 million, compared to $0.3 million as of June 30, 2026. Flux Power is currently evaluating potential
financing alternatives and strategic partnerships to ensure the Company has the financial flexibility necessary to continue executing
on its operating strategy.
Conference
Call
Flux
Power will host a conference call on Tuesday, November 3, 2026, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss its 2027
fiscal first quarter financial results. To access the call, please use the following information:
Date:
Tuesday, November 3, 2026
Time:
1:30 p.m. Pacific Time | 4:30 p.m. Eastern Time
Toll-free
dial-in number: 1-833-630-1956
International
dial-in number: +1-412-317-1837
Additionally,
this conference call will be broadcast live over the Internet and can be accessed by all interested parties on the News & Events
section of the Company’s Investor Relations website.
For
those unable to participate during the live broadcast of the conference call, a telephone replay will be available approximately two
hours after the conference call and accessible through November 10, 2026. The replay dial-in number is 1-855-669-9658, and the access
code 3796341. International callers should dial +1-412-317-0088 and enter the same pass code. Additionally, a replay of the webcast will
be available on Flux Power’s Investor Relations website for approximately 90 days.
Non-GAAP
Financial Measures
Flux
Power has presented in this release certain financial information in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”)
and also on a non-GAAP basis, including non-GAAP operating income (loss), non-GAAP net loss, non-GAAP net loss per share, and adjusted
EBITDA.
Management
believes that these non-GAAP financial measures, when viewed with Flux Power’s results under GAAP and the accompanying reconciliations,
provide useful information about Flux Power’s period-over-period results. These non-GAAP financial measures are presented because
management believes they provide additional information with respect to the performance of Flux Power’s fundamental business activities
and adjusted EBITDA is frequently used by securities analysts, investors and other interested parties in the evaluation of comparable
companies. Flux Power also relies on adjusted EBITDA as a primary measure to review and assess the operating performance of the Company
and its management team.
These
non-GAAP financial measures should not be considered in isolation from, or construed as a substitute for, financial measures determined
in accordance with GAAP for the purpose of analyzing Flux Power’s operating performance or financial position. Reconciliations
of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables at the end of
this release.
About
Flux Power
Flux
Power (NASDAQ: FLUX) designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of a range of
industrial and commercial sectors including material handling and airport ground support equipment (GSE). Flux Power’s lithium-ion
battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers with a better performing, lower
cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions.
Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please
visit www.fluxpower.com.
Forward-Looking
Statements
This
release contains projections and other “forward-looking statements” relating to Flux Power’s business, that are often
identified using “believes,” “expects” or similar expressions. Forward-looking statements include, but are not
limited to, statements regarding Flux Power’s expectations with respect to revenue growth, profitability and its addressable market,
the potential benefits of Flux Power’s 2027 fiscal second quarter revenue guidance, expectations with respect to growth and
profitability, and quotes from management. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties
that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Accordingly, forward-looking
statements are not guarantees of future results. Some of the important factors that could cause Flux Power’s actual results to
differ materially from those projected in any such forward-looking statements include, but are not limited to: Flux Power’s event
of default under its agreement with Gibraltar Business Capital, LLC, its ability to comply with the terms of such agreement and its
continued access to its credit facility thereunder; Flux Power’s ability to secure sufficient funding to support its current and
proposed operations; Flux Power’s ability to continue as a going concern; Flux Power’s ability to meet projected revenue
targets and generate sufficient cash from operations; Flux Power’s ability to regain compliance the continued listing standards
of the Nasdaq Stock Market; the impact of tariffs on Flux Power’s ability to cost-effectively source battery packs and materials
used in its products; Flux Power’s ability to obtain raw materials and other supplies for its products at existing or competitive
prices and on a timely basis; Flux Power’s anticipated growth strategies and its ability to manage the expansion of its business
operations effectively; Flux Power’s ability to maintain or increase its market share in the competitive markets in which it does
business; Flux Power’s ability to grow its revenue, increase its gross profit margin and become a profitable business; Flux Power’s
ability to fulfill its backlog of open sales orders due to delays in the receipt of key component parts and other potential manufacturing
disruptions; Flux Power’s ability to keep up with rapidly changing technologies and evolving industry standards, including its
ability to achieve technological advances; Flux Power’s dependence on the growth in demand for its products; Flux Power’s
ability to compete with both peers and larger companies with far greater resources than it; Flux Power’s ability to reduce production
costs of its product line through new designs, manufacturing and supply arrangements; Flux Power’s ability to shift to new suppliers
and incorporate new components into its products in a manner that is not disruptive to its business; Flux Power’s ability to obtain
and maintain UL Listings and OEM approvals for its energy storage solutions; Flux Power’s ability to diversify its product offerings
and capture new market opportunities; Flux Power’s ability to source its needs for skilled labor, machinery, parts, and raw materials
economically; Flux Power’s ability to retain and/or successfully recruit key members of its senior management team; Flux Power’s
ability to diversify its customer base to reduce its current dependence on a few major customers; Flux Power’s ability to use
or amend the terms of its committed equity facility; and the expense, timing and outcome of legal proceedings relating to Flux
Power’s accounting practices, financial disclosures and employment policies and practices, investigations and information requests
that may be initiated or that may be asserted. Actual results could differ from those projected due to numerous factors and uncertainties.
Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements
are reasonable, it can give no assurance that such statements will prove to be correct, and that Flux Power’s actual results of
operations, financial condition and performance will not differ materially from the results of operations, financial condition
and performance reflected or implied by these forward-looking statements. Undue reliance should not be placed on the forward-looking
statements and investors should refer to the risk factors outlined in Flux Power’s Form 10-K, 10-Qs and other reports filed with
the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this release, and Flux Power
assumes no obligation to update these statements or the reasons why actual results could differ from those projected, except as required
by applicable law.
Flux,
Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered
marks are the property of and used to identify the products or services of their respective owners.
Follow
us at:
Blog:
Flux Power Blog
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Flux Power News
Twitter:
@Flux Power
LinkedIn:
Flux Power
FLUX
POWER HOLDINGS, INC.
CONSOLIDATED
STATEMENTS OF OPERATIONS
| | |
(Unaudited) | |
| | |
Three
months ended September 30, | | |
Three
months
ended
June 30, | |
| | |
2026 | | |
2025 | | |
2026 | |
| Revenues | |
$ | 6,758,000 | | |
$ | 13,175,000 | | |
$ | 8,248,000 | |
| Cost of sales | |
| 5,085,000 | | |
| 9,410,000 | | |
| 5,991,000 | |
| | |
| | | |
| | | |
| | |
| Gross profit | |
| 1,673,000 | | |
| 3,765,000 | | |
| 2,257,000 | |
| | |
| | | |
| | | |
| | |
| Operating expenses: | |
| | | |
| | | |
| | |
| Selling, general and
administrative | |
| 4,001,000 | | |
| 4,906,000 | | |
| 3,739,000 | |
| Research
and development | |
| 631,000 | | |
| 1,037,000 | | |
| 618,000 | |
| Total
operating expenses | |
| 4,632,000 | | |
| 5,943,000 | | |
| 4,357,000 | |
| | |
| | | |
| | | |
| | |
| Operating loss | |
| (2,959,000 | ) | |
| (2,178,000 | ) | |
| (2,100,000 | ) |
| | |
| | | |
| | | |
| | |
| Interest expense, net | |
| (184,000 | ) | |
| (333,000 | ) | |
| (19,000 | ) |
| Other expense, net | |
| (27,000 | ) | |
| (51,000 | ) | |
| (193,000 | ) |
| | |
| | | |
| | | |
| | |
| Net loss | |
$ | (3,170,000 | ) | |
$ | (2,562,000 | ) | |
$ | (2,312,000 | ) |
| | |
| | | |
| | | |
| | |
| Net loss per share
- basic and diluted | |
$ | (0.15 | ) | |
$ | (0.15 | ) | |
$ | (0.11 | ) |
| | |
| | | |
| | | |
| | |
| Weighted average
number of common shares outstanding - basic and diluted | |
| 21,621,807 | | |
| 16,835,698 | | |
| 21,441,037 | |
FLUX
POWER HOLDINGS, INC.
NON-GAAP
NET LOSS ADJUSTMENTS
| | |
(Unaudited) | |
| | |
Three
months ended September 30, | | |
Three
months
ended
June 30, | |
| | |
2026 | | |
2025 | | |
2026 | |
| Net loss | |
$ | (3,170,000 | ) | |
$ | (2,562,000 | ) | |
$ | (2,312,000 | ) |
| | |
| | | |
| | | |
| | |
| Non-GAAP adjustments
to net loss: | |
| | | |
| | | |
| | |
| Stock-based
compensation | |
| 174,000 | | |
| 209,000 | | |
| 239,000 | |
| Total
Non-GAAP adjustments | |
| 174,000 | | |
| 209,000 | | |
| 239,000 | |
| | |
| | | |
| | | |
| | |
| Non-GAAP
net loss | |
| (2,996,000 | ) | |
| (2,353,000 | ) | |
| (2,073,000 | ) |
| Non-GAAP net loss
per share | |
$ | (0.14 | ) | |
$ | (0.14 | ) | |
$ | (0.10 | ) |
FLUX
POWER HOLDINGS, INC.
NON-GAAP
OPERATING LOSS ADJUSTMENTS
| | |
(Unaudited) | |
| | |
Three
months ended September 30, | | |
Three
months
ended
June 30, | |
| | |
2026 | | |
2025 | | |
2026 | |
| Operating loss | |
$ | (2,959,000 | ) | |
$ | (2,178,000 | ) | |
$ | (2,100,000 | ) |
| | |
| | | |
| | | |
| | |
| Non-GAAP adjustments
to operating loss: | |
| | | |
| | | |
| | |
| Stock-based
compensation | |
| 174,000 | | |
| 209,000 | | |
| 239,000 | |
| Total
Non-GAAP adjustments | |
| 174,000 | | |
| 209,000 | | |
| 239,000 | |
| | |
| | | |
| | | |
| | |
| Non-GAAP
operating loss | |
$ | (2,785,000 | ) | |
$ | (1,969,000 | ) | |
$ | (1,861,000 | ) |
FLUX
POWER HOLDINGS, INC.
CONSOLIDATED
BALANCE SHEETS
| | |
Unaudited | |
| | |
September
30, | | |
June 30, | |
| | |
2026 | | |
2026 | |
| ASSETS | |
| | |
| |
| | |
| | |
| |
| Current assets: | |
| | | |
| | |
| Cash | |
$ | 409,000 | | |
$ | 305,000 | |
| Accounts receivable,
net of allowance for credit losses of $86,000 and $70,000 at September 30 and June 30, 2026, respectively | |
| 4,442,000 | | |
| 4,862,000 | |
| Inventories, net | |
| 14,434,000 | | |
| 14,752,000 | |
| Other
current assets | |
| 1,050,000 | | |
| 781,000 | |
| Total current assets | |
| 20,335,000 | | |
| 20,700,000 | |
| | |
| | | |
| | |
| Right of use assets, net | |
| 1,885,000 | | |
| 2,167,000 | |
| Fixed assets, net of accumulated depreciation
of $2,100,000 and $2,034,000 at September 30 and June 30, 2026, respectively | |
| 439,000 | | |
| 476,000 | |
| Intangible assets, net of accumulated amortization
of $2,574,000 and $2,459,000 at September 30 and June 30, 2026, respectively | |
| 741,000 | | |
| 763,000 | |
| Other assets | |
| 143,000 | | |
| 92,000 | |
| | |
| | | |
| | |
| Total assets | |
$ | 23,543,000 | | |
$ | 24,198,000 | |
| | |
| | | |
| | |
| LIABILITIES AND STOCKHOLDERS’
EQUITY (DEFICIT) | |
| | | |
| | |
| | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | |
| Accounts payable | |
$ | 11,258,000 | | |
$ | 8,473,000 | |
| Accrued expenses | |
| 4,000,000 | | |
| 4,124,000 | |
| Line of credit | |
| 6,285,000 | | |
| 6,303,000 | |
| Deferred revenue | |
| 144,000 | | |
| 144,000 | |
| Customer deposits | |
| 32,000 | | |
| 31,000 | |
| Finance leases payable,
current portion | |
| 27,000 | | |
| 52,000 | |
| Office leases payable,
current portion | |
| 830,000 | | |
| 862,000 | |
| Accrued
interest | |
| 49,000 | | |
| 58,000 | |
| Total current liabilities | |
| 22,625,000 | | |
| 20,047,000 | |
| | |
| | | |
| | |
| Long term liabilities: | |
| | | |
| | |
| Finance leases payable, less current portion | |
| 16,000 | | |
| 19,000 | |
| Office leases payable,
less current portion | |
| 1,067,000 | | |
| 1,274,000 | |
| Deferred
revenue, less current portion | |
| 266,000 | | |
| 300,000 | |
| | |
| | | |
| | |
| Total liabilities | |
| 23,974,000 | | |
| 21,640,000 | |
| | |
| | | |
| | |
| Stockholders’ equity (deficit): | |
| | | |
| | |
| Preferred stock, $.001 par value; 3,000,000
shares authorized at September 30 and June 30, 2026, respectively; none issued and outstanding | |
| - | | |
| - | |
| Common stock, $0.001
par value; 75,000,000 shares authorized; 21,636,790 and 21,580,992 issued and outstanding at September 30 and June 30, 2026, respectively | |
| 22,000 | | |
| 22,000 | |
| Additional paid-in capital | |
| 116,551,000 | | |
| 116,370,000 | |
| Accumulated
deficit | |
| (117,004,000 | ) | |
| (113,834,000 | ) |
| Total
stockholders’ equity (deficit) | |
| (431,000 | ) | |
| 2,558,000 | |
| Total liabilities
and stockholders’ equity (deficit) | |
$ | 23,543,000 | | |
$ | 24,198,000 | |
FLUX
POWER HOLDINGS, INC.
ADJUSTED
EBITDA RECONCILIATION
| | |
(Unaudited) | |
| | |
Three
Months Ended September 30, | | |
Three
Months
Ended
June 30, | |
| | |
2026 | | |
2025 | | |
2026 | |
| Net loss | |
$ | (3,170,000 | ) | |
$ | (2,562,000 | ) | |
$ | (2,312,000 | ) |
| Add: | |
| | | |
| | | |
| | |
| Interest expense, net | |
| 184,000 | | |
| 334,000 | | |
| 193,000 | |
| Income tax provision | |
| - | | |
| - | | |
| - | |
| Depreciation
and amortization | |
| 220,000 | | |
| 251,000 | | |
| 234,000 | |
| EBITDA | |
| (2,766,000 | ) | |
| (1,977,000 | ) | |
| (1,885,000 | ) |
| Add: | |
| | | |
| | | |
| | |
| Stock-based compensation | |
| 174,000 | | |
| 209,000 | | |
| 239,000 | |
| Financing
costs | |
| 26,000 | | |
| 55,000 | | |
| 23,000 | |
| Adjusted EBITDA | |
$ | (2,566,000 | ) | |
$ | (1,713,000 | ) | |
$ | (1,623,000 | ) |
Contacts
Media:
media@fluxpower.com
info@fluxpower.com
External
Investor Relations:
Leanne
Sievers
Shelton
Group
flux-ir@sheltongroup.com