American Superconductor Corporation reported strong financial results for Q2 FY2024, with revenues increasing 60% to $54.5 million compared to $34.0 million in Q2 FY2023. The Grid segment led growth with revenues up 65% to $46.9 million, while Wind segment revenues rose 37% to $7.5 million. Gross margin improved to 29% from 25% in the prior year quarter.The company completed the strategic acquisition of Megatran Industries for $61.4 million in August 2024, strengthening its Grid business unit capabilities. The acquisition was funded through a combination of $25.0 million in cash, 1.3 million shares of common stock valued at $31.4 million, and a $5.0 million additional cash payment. Earlier in February 2024, AMSC raised net proceeds of $65.2 million through a public offering.As of September 30, 2024, AMSC maintained a strong liquidity position with $72.1 million in cash and cash equivalents. Operating cash flow improved significantly to $16.1 million for the six months, compared to negative $1.3 million in the prior year period. The company recorded a net income of $4.9 million for Q2 FY2024, benefiting from higher revenues, improved margins and a $5.0 million tax benefit related to the Megatran acquisition.

American Superconductor Corporation reported strong financial results for Q2 FY2024, with revenues increasing 60% to $54.5 million compared to $34.0 million in Q2 FY2023. The Grid segment led growth with revenues up 65% to $46.9 million, while Wind segment revenues rose 37% to $7.5 million. Gross margin improved to 29% from 25% in the prior year quarter.The company completed the strategic acquisition of Megatran Industries for $61.4 million in August 2024, strengthening its Grid business unit capabilities. The acquisition was funded through a combination of $25.0 million in cash, 1.3 million shares of common stock valued at $31.4 million, and a $5.0 million additional cash payment. Earlier in February 2024, AMSC raised net proceeds of $65.2 million through a public offering.As of September 30, 2024, AMSC maintained a strong liquidity position with $72.1 million in cash and cash equivalents. Operating cash flow improved significantly to $16.1 million for the six months, compared to negative $1.3 million in the prior year period. The company recorded a net income of $4.9 million for Q2 FY2024, benefiting from higher revenues, improved margins and a $5.0 million tax benefit related to the Megatran acquisition.