Companies are becoming more aware of the consequences of carbon emissions and the role batteries and electrification can play as a solution. Throughout 2021, we continued to see our market expand with the increasing rate of fleet electrification and supportive government regulations.
The pressure tests invoked by the pandemic have driven specific actions including supplier management actions, launching lean manufacturing, adding new shippers, implementing high performance cycling equipment, and strengthening staff capabilities. Our supplier management has been assessed and improved from end to end. To meet our goals and challenges, during the year we improved and expanded our supply chain and production staff and processes. The pandemic pressures have created frustrating shipment delays and part shortages but have in turn made us stronger and more resilient. With ongoing global supply chain disruptions and COVID-19 pandemic headwinds throughout the year, we continued to innovate new approaches to serve our customers, while maintaining business growth trajectory of over 50% per year. We also strengthened our balance sheet during the year, raising net proceeds of $14.1M from a registered direct offering and converting all debt to equity. These accomplishments have resulted in a now 13 consecutive quarters of year-over-year revenue growth, record gross margin, and a record $28.0 million customer order backlog. The year ended with over 10,000 high performance battery packs in the field for lift trucks and other industrial equipment including airport ground support equipment (GSE), and stationary energy storage for EV charging.
The year was highlighted by increasing demand for our lithium-ion battery packs and the addition of new customers and products.
In reviewing calendar year 2021, Flux Power experienced continued high growth amidst numerous challenges and opportunities. On behalf of the entire team at Flux Power, we hope you had a wonderful Holiday Season and wish you a Happy New Year! (NASDAQ: FLUX), a developer of advanced lithium-ion battery packs for commercial and industrial equipment, today issued a letter to shareholders from Ron Dutt, CEO of Flux Power. VISTA, Calif.-( BUSINESS WIRE)- Flux Power Holdings, Inc.
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