Electrovaya Achieves Strong Q3 Growth with Expanded Product Lines

The latest update is out from Electrovaya ( (TSE:ELVA) ).

Electrovaya reported a 67% year-over-year increase in revenue to $17.1 million for Q3 FY2025, with a positive adjusted EBITDA of $2.9 million, marking the ninth consecutive quarter of profitability. The company secured over $21 million in orders during the quarter and expanded its manufacturing capacity to meet growing demand. Electrovaya continues to enhance its Infinity product line and develop new products for emerging verticals, including robotics and defense, positioning itself for significant growth opportunities in these markets.

The most recent analyst rating on (TSE:ELVA) stock is a Buy with a C$4.00 price target. To see the full list of analyst forecasts on Electrovaya stock, see the TSE:ELVA Stock Forecast page.

Spark’s Take on TSE:ELVA Stock

According to Spark, TipRanks’ AI Analyst, TSE:ELVA is a Neutral.

Electrovaya’s strong earnings call results and strategic corporate events are the most significant factors driving its score. However, financial risks from high debt levels and a negative P/E ratio weigh down the overall assessment.

To see Spark’s full report on TSE:ELVA stock, click here.

More about Electrovaya

Electrovaya Inc. is a leading company in the lithium-ion battery technology and manufacturing industry. The company focuses on providing advanced battery solutions for various sectors, including material handling, robotics, airport ground equipment, Class 8 trucks, construction and mining equipment, and defense applications. Electrovaya leverages its Infinity technology to expand into high-growth applications and maintains strong relationships with major OEMs and top-tier end customers.

Average Trading Volume: 36,483

Technical Sentiment Signal: Buy

Current Market Cap: C$277.5M

Learn more about ELVA stock on TipRanks’ Stock Analysis page.