Summary by Moomoo AI
American Superconductor Corporation reported a 33% increase in total revenues to $40.3 million for Q1 FY2025, driven by growth in both Grid and Wind segments. Grid revenues rose 26% to $32.3 million, while Wind revenues surged 76% to $8.0 million. Gross margin improved to 30% from 21% in the prior year period.The company narrowed its net loss to $2.5 million from $5.4 million year-over-year, benefiting from higher revenues and improved gross margins. Non-GAAP net income was $3.0 million or $0.09 per share, compared to a non-GAAP net loss of $2.1 million or $(0.08) per share in Q1 FY2024.As of June 30, 2024, AMSC had cash, cash equivalents and restricted cash of $95.5 million, up from $92.3 million at March 31, 2024. The company completed a public offering in February 2024, raising net proceeds of approximately $65.2 million. AMSC also acquired Megatran, a provider of engineered power conversion solutions, for $61.35 million on August 1, 2024.
