AMSC Files 2024 10-K: Revenue at $37.3M, Net Loss of $0.4M

TL;DR

AMSC 2024 10-K: $37.3M revenue, $0.4M loss. Still investing in HTS tech.

AI Summary

American Superconductor Corp. (AMSC) filed its 10-K for the fiscal year ending March 31, 2024. The company reported revenues of $37.34 million and a net loss of $0.397 million for the fiscal year. AMSC's primary business involves providing high-temperature superconductor (HTS) solutions for various industries, including wind energy and industrial applications.

Why It Matters

This filing provides a comprehensive overview of AMSC's financial performance and strategic direction for the past fiscal year, impacting investor understanding of its market position and future prospects.

Risk Assessment

Risk Level: medium — The company reported a net loss, indicating ongoing challenges in achieving profitability, which poses a risk to its financial stability.

Key Numbers

• $37.3B — Revenue (Total revenue for the fiscal year ending March 31, 2024.)
• $0.4M — Net Loss (Total net loss for the fiscal year ending March 31, 2024.)
• $75,000,000 — Total Assets (Reported total assets as of March 31, 2024.)

Key Players & Entities

• AMERICAN SUPERCONDUCTOR CORP /DE/ (company) — Filer
• 03-31 FY 2024 (date) — Fiscal Year End
• $37,343,812 (dollar_amount) — Revenue for FY 2024
• $397,631 (dollar_amount) — Net loss for FY 2024

FAQ

Key Financial Figures

• $0.01 — e on which registered Common Stock, $0.01 par value per share AMSC Nasdaq Glo
• $7.55 — sdaq Global Select Market on that date ($7.55 per share) was $ 219.5 million. Number
• $9 billion — or our products and solutions is nearly $9 billion. Our Company's addressable market is d
• $500 billion — able market is driven by (i) the nearly $500 billion investment in renewables to update the
• $100 billion — enewable power sources, (ii) the nearly $100 billion investment in the mining and processing
• $160 billion — processing of materials as well as the $160 billion investment in semiconductor capacity—bo
• $30 billion — mestic supply chains—and (iii) the over $30 billion investment by the U.S. federal governme
• $369 billion — expected to result in the investment of $369 billion in climate solutions and environmental
• $52.7 billion — s. The CHIPS for America Fund, provides $52.7 billion of funding for the development of U.S.
• $52.7 b — rkforce development programs. From this $52.7 billion, $39 billion is allocated to be s
• $39 billion — ment programs. From this $52.7 billion, $39 billion is allocated to be spent on financial a

Filing Documents

• amsc20240331_10k.htm (10-K) — 1794KB
• ex_624257.htm (EX-21.1) — 3KB
• ex_624258.htm (EX-23.1) — 3KB
• ex_624259.htm (EX-31.1) — 13KB
• ex_624260.htm (EX-31.2) — 15KB
• ex_624261.htm (EX-32.1) — 7KB
• ex_624262.htm (EX-32.2) — 7KB
• ex_636962.htm (EX-97.1) — 26KB
• graphnew.jpg (GRAPHIC) — 66KB
• 0001437749-24-018602.txt ( ) — 9458KB
• amsc-20240331.xsd (EX-101.SCH) — 90KB
• amsc-20240331_cal.xml (EX-101.CAL) — 69KB
• amsc-20240331_def.xml (EX-101.DEF) — 586KB
• amsc-20240331_lab.xml (EX-101.LAB) — 503KB
• amsc-20240331_pre.xml (EX-101.PRE) — 644KB
• amsc20240331_10k_htm.xml (XML) — 1419KB

Risk Factors

Risk Factors 12 1B. Unresolved Staff Comments 20 1C. Cybersecurity 20 2.

Properties

Properties 21 3.

Legal Proceedings

Legal Proceedings 21 4. Mine Safety Disclosures 21 PART II 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22 6. Reserved 23 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 34 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 64 9A.

Controls and Procedures

Controls and Procedures 64 9B. Other Information 66 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 66 PART III 10. Directors, Executive Officers and Corporate Governance 66 11.

Executive Compensation

Executive Compensation 66 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 66 13. Certain Relationships and Related Transactions and Director Independence 66 14. Principal Accountant Fees and Services 66 PART IV 15. Exhibits and Financial Statement Schedules 67 16. Form 10-K Summary 68 3 This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Any statements in this Annual Report that relate to future events or conditions, including without limitation, the statements in Part I, "Item 1A. Risk Factors" and in Part II under "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" and located elsewhere herein regarding industry prospects, our addressable markets, our competitive position, the benefits of our acquisitions, financial results and financial condition, expectations for when our products become operational, capabilities and potential uses of our products, steps taken to enhance liquidity, or our prospective results of operations or financial position, may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements represent management's current expectations and are inherently uncertain. There are a number of important factors that could materially impact the value of our common stock or cause actual results to differ materially from those indicated by such forward-looking statements. Such factors include the important factors discussed under the caption "Risk Factors" in Part 1. Item 1A of this Form 10-K for the fiscal year ended March 31, 2024, which among others, could cause actual results to differ materially from those indicated by forward-looking statements made herein and pr

BUSINESS

BUSINESS Overview American Superconductor Corporation (together with its subsidiaries, "AMSC" or the "Company") was founded on April 9, 1987. At AMSC, we believe that our creativity can meet today's challenges and help us progress to a better future. That means using future-facing technologies to harmonize the world's desire for decarbonization and clean energy with the need for more reliable, effective and efficient power delivery. Already, our transformative power solutions are moving the world forward. We are 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 the Navy's fleet. Our system level products leverage the Company's proprietary "smart materials" and "smart software and controls" to provide enhanced resiliency and improved performance of megawatt-scale power flow. Right now, we are powering the evolution of a grid that is fit for the future: a more reliable and resilient grid that can incorporate renewable energy sources and our pioneering products, software and control solutions are creating more cost-effective ways for renewables to deliver a cleaner, less carbon-intensive tomorrow. This exciting energy future also depends on computer chips, batteries and fuel cells that are built from silicon, lithium and carbon. All of these building blocks must be mined, processed and assembled. Industrial manufacturers of these essential materials as well as semiconductor manufacturers must be able to power their factories in ways that scale without adding complexity or size. Our voltage compensators, capacitors, transformers and rectifiers can power the energy-intensive factories of the future while reducing the risk of costly power interruptions that could hinder this journey to a better future. What's more, in an age of increasing global tensions, we are helping to move U.S. Navy ships into the future by installing protection systems t

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View this 10-K filing on SEC EDGAR