Janus Electric Holdings Limited (ASX:JNS): FY26 Revenue Growth, North American Orders and Capital Raising

Aditi Sarkar

23 October 2026 12:29 AM AEDT

Janus Electric Holdings Limited (ASX:JNS): FY26 Revenue Growth, North American Orders and Capital Raising

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Highlights

Janus Electric Holdings Limited (ASX:JNS) reported FY26 total revenue and other income of A$4.81 million, up 53%.
Statutory loss after tax was A$9.11 million, and cash at 30 June 2026 was A$2.03 million.
The North American order book reached 118 truck conversions worth about A$61 million.
A placement raising A$7.68 million at A$0.24 per share settled in July 2026; the annual general meeting is set for 20 November 2026.

Janus Electric Holdings Limited develops heavy vehicle electrification products, including a patented battery swap platform, truck conversion kits, charging infrastructure and fleet management software. The FY26 annual report shows growing revenue, a larger loss, a North American order book and a recent capital raising.

Company Business

Janus Electric (ASX:JNS) converts diesel heavy trucks to electric by replacing the engine with an electric drivetrain and a swappable battery system. Customers are freight, construction and regional logistics fleets, and conversion kits are installed through partner workshops.

The company is headquartered with a production facility at Fountaindale on the Central Coast of New South Wales. It operates in several Australian states and has deployments in the United States and Canada. At 30 June 2026, 28 Janus-converted trucks were running on customer routes in Australia, having travelled more than 750,000 km and completed more than 4,000 battery swaps.

Recent Development

In July 2026, Janus Electric (ASX:JNS) announced a week of United States orders totalling about A$55 million, lifting its North American order book to 112 truck conversions. US orders covered 87 conversions from five fleet operators at a gross contract value of about A$58 million, and Canada accounted for 25 conversions. The company said gross contract value is not revenue booked, with revenue recognised as incentives are approved and trucks are delivered. California and Port of Los Angeles incentives of about US$166,000 per converted truck apply to the US program.

Later in July 2026, the company received commitments for a A$7.68 million placement of 32 million shares at A$0.24 each, which settled on 29 July 2026. Proceeds are directed to supply chain, working capital, North American delivery and product development. Its annual report put the North American order book at 118 truck conversions worth about A$61 million, including 93 US units and 25 Canadian units, with first North American deliveries expected from the fourth quarter of calendar 2026.

Financial Performance and Sector Context

For the year ended 30 June 2026, Janus Electric (ASX:JNS) reported total revenue and other income of A$4.81 million compared with A$3.14 million in FY25. Sales revenue was A$2.17 million, up from A$1.70 million, and other income of A$2.62 million consisted mainly of a research and development tax incentive of about A$1.9 million. Battery hire and energy revenue rose 94% to A$0.7 million.

Total expenses were A$13.92 million, and the statutory loss after tax was A$9.11 million compared with A$8.91 million. Adjusted EBITDA was a loss of A$6.83 million. The company identified about A$3.0 million of non-recurring professional and administrative costs.

Net operating cash outflow was A$6.97 million, and customer receipts of A$3.32 million exceeded trading revenue because of deposits taken before delivery. Cash fell to A$2.03 million from A$4.05 million, while net assets were A$1.67 million and borrowings totalled A$4.20 million. The company's fleet electrification targets, which it describes as targets rather than guidance, include 50 to 75 trucks on the road by December 2026 and more than 650 trucks across FY27 and FY28. Incentive programs and fleet operating economics influence demand for transport electrification.

Risks to Consider

Janus Electric (ASX:JNS) remains loss-making, and delivery of its order book depends on funding for inventory, production scale-up and infrastructure. Management has said additional funding from debt, asset finance, grants and customer deposits is needed to deliver the order book. Contracted orders may remain subject to incentive confirmation and customer due diligence, and revenue timing depends on approvals and deliveries. Other risks include battery development milestones, a tax liability of about A$1.9 million under a payment plan and dilution from share issues.

What to Watch Next

Key dates include the annual general meeting on 20 November 2026. Operational milestones include first North American deliveries from the fourth quarter of calendar 2026, delivery of the initial Canadian phase by November 2026, and the company's target of 50 to 75 trucks on the road and production capacity of 50 kits a month by 31 December 2026.

Other measurable items for Janus Electric (ASX:JNS) include conversion of the order book into recognised revenue, use of the July 2026 placement proceeds, and cash balances in future quarterly cash flow reports.

Key Insights

Janus Electric (ASX:JNS) grew FY26 total revenue and other income by 53% and expanded its North American order book, while the loss after tax and operating cash outflow remained significant. Capital raised in 2026 supports the move from orders to deliveries. Delivery timing, incentive approvals, funding and cash conversion are the measures most relevant to later disclosures.

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