Record Revenue Growth
Revenue for the first quarter of fiscal 2025 exceeded $70 million, marking an 80% increase compared to the previous year and surpassing expectations.
Strong Grid Business Performance
The Grid business unit accounted for 83% of total revenues and saw an 86% increase year-over-year, driven by organic growth.
Significant Wind Business Growth
Wind business unit revenues increased by 54% year-over-year, driven by increased ECS shipments.
Profitability Achieved
AMSC reported a net income of $6.7 million, marking the fourth consecutive quarter of profitability.
Gross Margin Improvement
Gross margin for the quarter was 34%, up from 30% in the year-ago quarter, driven by increased revenues and favorable product mix.
Strong Backlog and Cash Position
The company closed the quarter with a 12-month backlog of over $200 million and over $210 million in cash.