AYER, Mass., Jan. 22, 2024 (GLOBE NEWSWIRE) -- AMSC® (NASDAQ:AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid™ and protect and expand the capability of our Navy's fleet, announced today that it plans to release its third quarter fiscal year 2023 financial results after the market close on Wednesday, January 24, 2024. In conjunction with this announcement, AMSC management will participate in a conference call with inves ...

American Superconductor (AMSC) shares soared 5.4% in the last trading session to close at $10.24. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12% loss over the past four weeks.The upswing came after the company discloses receiving an $8 million order for its 3-megawatt class wind turbine electrical control systems (ECS) from India’s premium wind turbine manufacturer, Inox Limited. Inox has requested for immediate delivery whi ...

Investors in American Superconductor (AMSC 6.28%) stock are having a pretty good week so far. On Tuesday, the provider of technology to electrical grid operators and wind turbine manufacturers announced an enlarged follow-on order from Inox Wind, a wind turbine manufacturer in India. That, in turn, elicited a price target boost and a renewed buy rating from analyst Eric Stine of investment bank Craig-Hallum on Wednesday morning.Investors quickly responded to the price target hike, bidding up American Superc ...

One day after winning a modest-size contract to supply wind turbine electrical control systems to a wind turbine manufacturer in India, shares of American Superconductor (AMSC 9.46%) shot 10% higher this morning. As of 11:55 a.m. ET, the stock remains up 8%.Helping to sustain the momentum: A price target hike this morning from investment bank Craig-Hallum, which specifically cited the Indian contract as a reason to buy American Superconductor stock.Super news for American SuperconductorAs American Supercond ...

American Superconductor Corporation (NASDAQ:AMSC) Q2 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants John Heilshorn - Lippert/Heilshorn & Associates John Kosiba - CFO, SVP & Treasurer Daniel McGahn - Chairman, President & CEO Conference Call Participants Colin Rusch - Oppenheimer Eric Stine - Craig-Hallum Justin Clare - ROTH MKM Partners Operator Good day, and welcome to the AMSC Second Quarter Fiscal 2023 Financial Results Call. [Operator Instructions]. Please note that this ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____. Commission File Number: 0-19672 American Superconductor Corporation (Exact name of registrant as specified in its charter) Delaware 04-2959321 (State or ...

American Superconductor Corporation (NASDAQ:AMSC) Q1 2023 Earnings Conference Call August 10, 2023 10:00 AM ET Company Participants John Heilshorn - Investor Relations Daniel McGahn - Chairman, President and Chief Executive Officer John Kosiba - Senior Vice President, Chief Financial Officer and Treasurer Conference Call Participants Eric Stine - Craig-Hallum Colin Rusch - Oppenheimer Justin Clare - ROTH Capital Partners Operator Good morning and welcome to the AMSC First Quarter Fiscal 2023 Financial Resul ...

Financial Performance - Revenues for the three months ended June 30, 2023, were $30,254,000, representing a 33.5% increase from $22,679,000 in the same period of 2022[16] - Gross margin improved to $6,282,000 for the three months ended June 30, 2023, compared to $2,221,000 in the prior year, indicating a significant increase in profitability[16] - Operating loss decreased to $(5,333,000) for the three months ended June 30, 2023, from $(8,869,000) in the same period of 2022, reflecting improved operational efficiency[16] - Net loss for the three months ended June 30, 2023, was $(5,398,000), a reduction from $(8,710,000) in the same quarter of 2022, showing progress in financial performance[16] - The company reported a basic net loss per common share of $(0.19) for the three months ended June 30, 2023, compared to $(0.32) for the same period in 2022[16] - The net loss for the three months ended June 30, 2023, was $5.398 million, an improvement from a net loss of $8.710 million in the same period of 2022, representing a 38.5% reduction[24] - Cash used in operating activities for the three months ended June 30, 2023, was $2.245 million, down from $5.863 million in the prior year, indicating a 61.7% improvement[24] - Non-GAAP net loss improved to $2.1 million, or $0.08 per share, from $6.8 million, or $0.25 per share, in the prior year[156] - Net loss was reduced to $5.4 million for the three months ended June 30, 2023, compared to $8.7 million in the same period of 2022[153] Assets and Liabilities - Total current assets decreased to $102,194,000 as of June 30, 2023, down from $106,173,000 as of March 31, 2023[13] - Total liabilities decreased to $92,716,000 as of June 30, 2023, compared to $93,764,000 as of March 31, 2023, indicating a slight improvement in the company's financial position[13] - Total stockholders' equity decreased to $77,918,000 as of June 30, 2023, from $81,797,000 as of March 31, 2023[13] - The company had an accumulated deficit of $1.061 billion as of June 30, 2023[29] - Cash and cash equivalents were $22,005,000 as of June 30, 2023, down from $23,360,000 as of March 31, 2023[13] - Cash equivalents decreased from $7,913,000 on March 31, 2023, to $7,658,000 on June 30, 2023, representing a decline of approximately 3.2%[68] - Total accounts payable decreased from $13,935,000 on March 31, 2023, to $10,878,000 on June 30, 2023, a reduction of approximately 22%[83] - The company had $0.6 million of restricted cash included in long-term assets and $0.5 million in current assets as of June 30, 2023[106] Revenue Segments - Total revenue for the three months ended June 30, 2023, was $25,737 million, an increase from $19,829 million in the same period of 2022, representing a growth of approximately 29%[45] - The Grid business segment generated revenues of $25.737 million for the three months ended June 30, 2023, compared to $19.829 million in the same period of 2022, reflecting a growth of approximately 29.8%[114] - The Wind business segment reported revenues of $4.517 million for the three months ended June 30, 2023, up from $2.850 million in the same period of 2022, indicating an increase of approximately 58.5%[114] - The Grid business unit accounted for 85% of total revenues, generating $25.7 million, a 30% increase from $19.8 million in the prior year[138] - The Wind business unit revenues increased by 58% to $4.5 million, driven by additional shipments of electrical control systems[139] Cost Management - The company undertook a reduction in force involving approximately 5% of its global workforce, expected to incur $1.0 million in cash expenses and result in annualized cost savings of approximately $5.0 million[32] - Selling, general, and administrative expenses increased by 4% to $7.9 million, attributed to higher compensation and stock compensation expenses[145] - Research and development expenses decreased by 30% to $1.9 million from $2.7 million in the prior year[144] - Stock-based compensation expense for the three months ended June 30, 2023, totaled $1,357 million, up from $1,033 million in the same period of 2022, reflecting an increase of approximately 31%[51] Market Conditions - The company continues to face inflationary pressures and supply chain delays, which have increased costs and decreased gross margins[31] - The company continues to face inflationary pressures and supply chain disruptions, which have increased the cost of revenues and decreased gross margin[134] - The company’s liquidity is highly dependent on its ability to increase revenues and control operating costs, with potential adverse effects from macroeconomic conditions[33] Future Outlook - The company has filed a shelf registration statement allowing it to offer and sell up to $250 million of securities to fund future capital needs[30] - The company believes it has sufficient liquidity to fund operations and capital expenditures for the next twelve months, but may seek to raise additional capital through loans, convertible debt, or equity[164] - The company continues to monitor expenses and may reduce operating and capital spending to enhance liquidity if necessary[164] Internal Controls and Compliance - As of June 30, 2023, the company's disclosure controls and procedures were evaluated as effective at the reasonable assurance level by the CEO and CFO[170] - There were no changes to the internal control over financial reporting during the quarter ended June 30, 2023, that materially affected the internal control[171] - The company did not repurchase any shares during the three months ended June 30, 2023, in connection with stock-based compensation plans[174] - The company adopted ASU 2016-13 and ASU 2021-08 as of April 1, 2023, with no material impact on the condensed consolidated financial statements noted[166][167] Legal and Risk Factors - The company is involved in various legal and administrative proceedings, recording liabilities when losses are known or probable[165] - There have been no material changes to the risk factors described in the Annual Report for the fiscal year ended March 31, 2023[173] - The company continues to face potential impacts on liquidity due to global instability, including the COVID-19 pandemic and geopolitical tensions[164]

American Superconductor Corporation (NASDAQ:AMSC) Q4 2022 Earnings Conference Call June 1, 2023 10:00 AM ET Company Participants John Heilshorn - LHA IR Daniel McGahn - Chairman, President and CEO John Kosiba - SVP, CFO and Treasurer Conference Call Participants Eric Stine - Craig Hallum Colin Rusch - Oppenheimer Justin Clare - ROTH Capital Partners Chip Moore - EF Hutton Operator Good morning, and welcome to the AMSC Fourth Quarter Fiscal Year 2022 Financial Results Conference Call. All participants will b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission file number 000-19672 American Superconductor Corporation (Exact Name of Registrant as Specified in Its Charter) Delaware 04-2959321 (State or Other Jurisdiction o ...