Janus Electric Holdings Ltd (ASX:JNS) reported operational income of $896,000 for the three months to December 31, 2025, up 190% on the prior period, as the heavy-vehicle electrification group pointed to improving operating performance and initial export orders to California.
Truck conversion and charge station sales totalled $472,000 for the quarter, with a further $1.558 million recorded as deferred revenue. The remaining $424,000 was attributed to recurring and subscription revenue linked to charging stations and its batteries-as-a-service offering.
Deliveries and export progress
On the operational side, Janus delivered Cement Australia’s 8th truck during the quarter and said a further two trucks were nearing completion on the assembly line.
It also shipped its first two US export orders in December, with arrival expected at the Port of Los Angeles in mid-February 2026. Janus said the conversions would be performed by its Californian dealer and anticipated the trucks would be fully operational in Q4.
Infrastructure deployments continued, with one Janus Charge and Change Station (JCCS) delivered to Dublin, South Australia, and scheduled for installation in Q3, while the Moorebank Intermodal Precinct site was reported to be growing battery swap activity, supporting 6 trucks operating from that location.
Cost base
Janus said primary operating expenditure — including employee, administration and corporate costs — was reduced by 49% versus the prior corresponding period.
From a cash perspective, the Appendix 4C showed cash and cash equivalents of $629,000 at quarter end, with net cash used in operating activities of $1.310 million during the quarter. The company also disclosed an estimated 0.48 quarters of funding available based on the reported cash balance and quarterly operating cash outflow.
Janus also reported a $2.138 million loan facility that was fully drawn at quarter end, and said it converted existing sale-and-leaseback arrangements into a secured loan facility during the period.
Management update and outlook
Separately, incoming CEO Ben Hutt told shareholders he had started a line-by-line cost review and moved to reduce non-core spend, including director fee reductions effective post-quarter, while sharpening sales execution to rely less on inbound interest.
Janus reiterated it was progressing funding initiatives, including a previously announced, contractually committed $5 million investment from EVUNI that had not yet been received, and referenced a definitive agreement with a Toronto-based Canadian partner, while noting no revenue guidance had been provided.