Carbon Revolution eclipses predicted preliminary fiscal second quarter with record-breaking result

15 February, 2024

Carbon Revolution has today announced its preliminary financial results for the fiscal second quarter of 2024, and it’s a record-breaker.

The milestone quarter is expected to show a revenue of approximately US$14.8 million, which represents a remarkable 177 per cent growth year-over-year.

“Carbon Revolution delivered another quarterly revenue record in the fiscal second quarter of 2024, up 177 per cent year-over-year to US$14.8 million1,” said Jake Dingle, CEO of Carbon Revolution.

JLR jaguar Land Rover Range Rover SVR Sport Carbon Revolution Duke
The Range Rover Sport SVR’s Carbon Revolution 23-inch carbon fibre wheel.

“This was driven by our program wins continuing to move into production and growth of existing programs. Looking ahead, we expect that strength to continue. Commercial momentum continues to be very strong, and we are continuing to expand capacity to support customer demand.”

Furthermore, for the year ended December 31, 2023, revenue increased 42 per cent to US$40.3 million, which represents another great result for the world leader in carbon fibre automotive wheel manufacturing.

1 All USD figures converted to USD at 0.7 for convenience and are unaudited.