{"id":11322,"date":"2023-02-11T01:39:39","date_gmt":"2023-02-11T01:39:39","guid":{"rendered":"https:\/\/www.findadistributor.com\/news\/?p=11322"},"modified":"2023-02-10T14:42:15","modified_gmt":"2023-02-10T14:42:15","slug":"flux-power-up","status":"publish","type":"post","link":"https:\/\/www.findadistributor.com\/news\/flux-power-up\/","title":{"rendered":"Flux Power Up"},"content":{"rendered":"<p><a href=\"https:\/\/www.findadistributor.com\/item\/flux-power\/\">Flux Power<\/a>, a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, recently reported its financial and operational results for the fiscal second quarter ended December 31, 2022.<\/p>\n<div id=\"attachment_10460\" style=\"width: 762px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-10460\" class=\"size-full wp-image-10460\" src=\"https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/07\/Screenshot-2022-07-07-at-16.11.19.png\" alt=\"\" width=\"752\" height=\"406\" srcset=\"https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/07\/Screenshot-2022-07-07-at-16.11.19.png 752w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/07\/Screenshot-2022-07-07-at-16.11.19-400x216.png 400w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/07\/Screenshot-2022-07-07-at-16.11.19-440x238.png 440w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/07\/Screenshot-2022-07-07-at-16.11.19-650x351.png 650w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/07\/Screenshot-2022-07-07-at-16.11.19-602x325.png 602w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/07\/Screenshot-2022-07-07-at-16.11.19-704x380.png 704w\" sizes=\"auto, (max-width: 752px) 100vw, 752px\" \/><p id=\"caption-attachment-10460\" class=\"wp-caption-text\">Flux Power is a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment.<\/p><\/div>\n<p>\u201cThe second quarter of fiscal year 2023 delivered our 18th consecutive quarter of year-over-year revenue growth as well as an increased credit facility providing additional cash to fund higher working capital requirements related to increased customer demands and meeting our targeted growth goals,\u201d said Ron Dutt, CEO, <a href=\"https:\/\/www.findadistributor.com\/item\/flux-power\/\">Flux Power<\/a>.<\/p>\n<ul>\n<li>The quarter saw gross profit increase 294% to $4.1 million and gross margin expand to 24% compared to $1.0 million and 14%, respectively, in the year-ago period.<\/li>\n<\/ul>\n<p>Dutt continued: \u201cExisting customers continue to drive our revenue growth, with greater than 95% of revenue during the second quarter attributed to customers with whom we have had long-term relationships.<\/p>\n<p>\u201cOur commitment, consistent performance, and trustworthiness are the foundation for long-term, sustainable relationships with our customers.<\/p>\n<p>\u201cOur emphasis on price, service, and quality continues to support ongoing new purchase needs and service requirements.\u201d<\/p>\n<ul>\n<li>Strong new orders of $20.7 million during the second fiscal quarter increased our backlog to $30.4 million as of December 31, 2022, up from $26.9 million in the prior quarter.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Flux Power, a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, recently reported its financial and operational results for the fiscal second quarter ended December 31, 2022. \u201cThe second quarter of fiscal year 2023 delivered our 18th consecutive quarter of year-over-year revenue growth as well as an increased credit&#8230; <a href=\"https:\/\/www.findadistributor.com\/news\/flux-power-up\/\" class=\"excerpt-read-more\">Read More<\/a><\/p>\n","protected":false},"author":3,"featured_media":10460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16,10],"tags":[8441,2453,484,2936,7482,7666,8572,7484,157,106,62],"class_list":["post-11322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homepage-featured","category-news","tag-flux","tag-lithium-ion-batteries","tag-lithium-ion","tag-lithium-ion-battery","tag-lithium-ion-energy","tag-lithium-ion-energy-storage","tag-lithium-ion-energy-storage-solutions","tag-lithiumion","tag-logistics","tag-material-handling","tag-supply-chain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Flux Power Up - Find A Distributor Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.findadistributor.com\/news\/flux-power-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Flux Power Up - Find A Distributor Blog\" \/>\n<meta property=\"og:description\" content=\"Flux Power, a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, recently reported its financial and operational results for the fiscal second quarter ended December 31, 2022. \u201cThe second quarter of fiscal year 2023 delivered our 18th consecutive quarter of year-over-year revenue growth as well as an increased credit... 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