American Superconductor Corporation (AMSC) reported significant financial growth in its fiscal year ending March 31, 2025, with total revenues increasing by 53% to $222.8 million, up from $145.6 million in the previous fiscal year. The Grid business segment, which includes products such as D-VAR systems and ship protection systems, accounted for 84% of total revenues, generating $187.2 million, a 53% increase from $122.1 million in fiscal 2024. The Wind segment also saw a notable rise, with revenues climbing 51% to $35.6 million, driven by higher shipments of electrical control systems.
The company achieved a net income of $6.0 million for fiscal 2024, a significant turnaround from a net loss of $11.1 million in the prior year. This improvement was attributed to higher revenues and gross margins, which increased to 28% from 24% in the previous year. Operating expenses rose as well, with research and development costs increasing by 43% to $11.4 million, reflecting the company's investment in innovation and the integration of its recent acquisition of Megatran Industries, Inc. The acquisition, completed on August 1, 2024, for $61.4 million, is expected to enhance AMSC's capabilities in power conversion solutions.
Operationally, AMSC reported a total employee headcount of 569 as of March 31, 2025, reflecting the company's growth and expansion efforts. The company serves over 100 customers globally, with Inox Wind Limited being a significant contributor, accounting for 14% of total revenues in fiscal 2024. AMSC's products are increasingly adopted in various markets, including the U.S. Navy's electrification efforts and the renewable energy sector, which is projected to see substantial investments in the coming years.
Looking ahead, AMSC anticipates continued growth driven by the increasing demand for modernized power grids and renewable energy solutions. The company estimates its total addressable market exceeds $9 billion, fueled by investments in renewable energy, critical materials for electrification, and military ship systems. However, AMSC acknowledges potential risks, including macroeconomic conditions, supply chain disruptions, and the need for ongoing innovation to maintain its competitive edge in the rapidly evolving energy technology landscape.
About AMERICAN SUPERCONDUCTOR CORP /DE/
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