Janus Electric Holdings (ASX: JNS) has started generating export revenue from the US after its first truck conversion kits arrived at the Port of Los Angeles during the March quarter.
The heavy vehicle electrification specialist now has 26 trucks converted across Australia and another two undergoing conversion in the US, extending its operational footprint across two core markets.
Its converted fleet has now completed more than 650,000 kilometres of commercial operation and more than 3,600 battery swaps across 11 Charge & Change Stations.
The quarter also brought a material working capital reset, with a $1.41 million research and development tax incentive refund and a $2.75m drawdown under a new Rockford R&D finance facility lifting cash to $2.1m at 31 March.
US Revenue Opens International Pathway
Customer receipts reached $680,000 for the quarter and $2.59m for the nine months to 31 March, with the first US export revenue marking an early step in Janus’ offshore commercialisation strategy.
The company’s model combines patented battery swap technology, truck conversion kits, charging infrastructure, and fleet management software for freight and logistics operators.
Janus is already supporting its operations around Australia with international deployments active in the US and Canada.
The Central Coast production facility remains the base for its national and international deployment strategy as the company works to turn fleet activity into a deeper sales pipeline.
Focus on Reset and Execution
Following a leadership change earlier in the year, the March quarter focused on strengthening governance, adding executive capability, and building a qualified sales pipeline across Australia, the US, and Canada.
Operating cash outflows reflected the catch-up of legacy creditor positions and executive onboarding costs, both described as transitional items.
Net operating cash outflow was $524,000 for the quarter, with the ATO refund helping offset operating expenditure across manufacturing, staff, and administration.
The new Rockford R&D facility also allowed Janus to fully repay $1.09m of outstanding debt with Rocking Horse Capital during the period.
Growth Strategy Targets Continuity
Janus released a Three-Horizon Growth Strategy on 20 April aimed at supporting business continuity and further growth through an active Australian commercial pipeline and ongoing capital initiatives.
The strategy arrives as the company enters the June quarter with a larger operational fleet, international export revenue and improved organisational capability following the business reset.
Janus held total financing facilities of $4.09m at quarter-end, comprising the Rockford R&D facility and two others for a combined $1.35m.
The company reported four quarters of funding available based on its March quarter operating cash flow profile and $2.1m closing cash balance.
