This is another profitable small cap multi year compounder that I plan to hold for years, as the battery theme is extremely relevant to the secular build out.

I own 60 calls for February with a $10 strike. Currently underwater with a 2.38 avg.

I’ll let you know if I give up on the trade or go back to shares.
Company is going to be fine. Not sure about options in this environment…

Claude. This is not biased toward my position at all.

Company Profile — Electrovaya (75 words) Electrovaya (Nasdaq/TSX: ELVA) is a Toronto-based lithium-ion battery company. Its proprietary Infinity technology is built for safety and long life in heavy-duty use, and its main business is powering warehouse forklifts and material-handling vehicles. It's now pushing into robotics, defense, and energy storage, and building its first U.S. cell-manufacturing plant (a "gigafactory") in Jamestown, New York. Unlike many small battery makers, it's actually profitable, with a roughly $410M market value and earnings due mid-August.

ELVA — The Stock Now

~$8.30, down 50%+ from its ~$13 peak nine days ago — but that's roughly back to the pre-Amazon price, so the whole spike has unwound.
Part market-wide selling of a jumpy small stock, part fair reset: the Amazon warrants only pay off if Amazon actually buys $280M of batteries over time.
~$410M market value; trades at ~5x forward sales (on this year's ~$83M revenue guidance) — cheaper than before, still not "cheap."
Strong Buy ratings, targets $16–20; next catalyst is earnings in mid-August.

ELVA — Business, Growth & Gross Margins

~80–85% of revenue is batteries for warehouse forklifts (the steady core); robotics is now #2 and growing; defense and energy storage are mostly 2027 stories.
Revenue grew ~20% last quarter; full-year guidance is >30%.
Gross margin rose to ~33%, but mainly from selling a richer mix of products, not from cutting costs.
The real cost-saving lever — making its own cells at a new Jamestown, NY plant — is a 2027 event with build-out and share-dilution risk. Profitable 12+ straight quarters, which is rare here.

ELVA — Customers

Named and solid in the core: Amazon (~10-year relationship) and Raymond/Toyota (forklift dealer network).
The growth verticals stay anonymous: a "major robotics OEM" and a "global defense contractor," no names given.
So part of the story rests on customers you can't independently verify — normal for the industry, but a real gap.

ELVA vs. AMPX (Amprius) — Head to Head

Price tag: ELVA ~5x forward sales; AMPX far pricier at ~11x forward sales (~$1.4B value on $130M+ guided revenue).
Growth: AMPX is growing much faster (~150% last quarter) but ELVA is steadier and less hype-driven.
Profit & gross margin: ELVA is profitable with ~33% gross margins; AMPX loses money heavily (roughly –60% net margin) on lower ~20% gross margins, targeting 25%.

Focus: ELVA = warehouse/industrial batteries; AMPX = high-energy silicon-anode cells for drones, aviation and defense. Both report earnings within two weeks.

Bull vs. Bear (~85 words)

Bull: Real revenue, real profit, and rising gross margins — rare for a small battery maker, and far healthier than money-losing peers like AMPX. Amazon and Toyota anchor the core, robotics and defense open new markets, and today's price hands you the Amazon upside almost free.

Bear: Still not a bargain (~5x forward sales). Growth is lumpy, the flashiest customers are unnamed, and the biggest margin and revenue payoffs are 2027 bets riding on a costly factory. It swings hard when markets turn nervous.

Analysis of public data, not financial advice.

I’M TOTALLY OUT OF SONY, CCXI, and others recently mentioned.
Options are not great for Sony and I’d need 100k in it to make it worth buying commons with the long theme.

I saw the chop and exited CCXI warrants at 40% gains.
Everything is back to NBIS, OUST, ELVA. We need a rebound in the market haha

This post was edited on 7/25/26 at 1:15 pm