Reported 7 months ago
American Superconductor's stock rose 8.7% after announcing a $75 million contract with Canadian shipbuilder Irving Shipbuilding to provide Ship Protection Systems for the Royal Canadian Navy. This system helps reduce a ship's magnetic signature to protect against sea mines. The company's revenue primarily comes from green energy and wind turbine control systems. Despite not being profitable yet, American Superconductor has shown positive growth and cash flow, with expectations of non-GAAP profitability this year and potential GAAP profits after 2025.
Source: YAHOO