CAP-XX, the Australia-based maker of thin, prismatic supercapacitors, has announced that it anticipates a further improvement in its product revenue. The company reported a rise in revenue for the first four months of fiscal 2024, supported by order intake in the U.S. and Europe.
During this period, CAP-XX generated $900,000 in product revenue, with $400,000 achieved in October alone. This represents an increase compared to the corresponding period in the previous year when the company earned $700,000. These figures indicate that the overstocking and supply chain issues experienced during FY2023 are beginning to recover.
CAP-XX highlighted that October is typically a strong month for revenue, and this positive result suggests a positive trajectory for the company. Moreover, its order backlog currently stands at $1.15 million, supporting expectations of ongoing revenue growth.
While the company has observed increased customer activity and interest from Europe and the U.S., it noted slower order intake from China and India due to the subdued post-pandemic economic situation in these regions.
Looking ahead, CAP-XX is optimistic about its new distribution and sales strategy, which is anticipated to yield positive results in the coming months. Additionally, the company is eagerly awaiting initial revenues from its new products.
By Elena Vardon
