Pineapple Energy Q4 revenue up 13% to $19.4M; net loss narrows to $1.7M; full-year adjusted EBITDA positive $1.2M

SUNation Energy, Inc.

Q4 2023 revenue $19.4M (+13% YoY); gross profit $5.5M (+10% YoY); operating loss $2.3M, improved 34% from Q4 2022.
Net loss from continuing ops $1.7M ($0.16 per share) vs $17.4M ($2.58) in Q4 2022; full year net loss $6.9M vs $20.1M.
Pro forma adjusted EBITDA of $0.2M in Q4 and $1.2M for full year 2023, both positive vs negative in 2022.
Residential kW installed down 17% YoY in Q4; battery attachment rate rose to 38% from 28%; backlog $36M.
Cash and restricted cash $5.4M at Dec 31, 2023, down from $7.9M a year earlier.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.93

SUNation Energy, Inc. reported the fourth-quarter and full year ended December 31, 2023 results: revenue $79.6 million.

Period: the fourth-quarter and full year ended December 31, 2023
Revenue: $79.6 million
Result: reported results

Exact text from the filing

transition by helping individual homeowners take control of their electricity production, storage, and consumption. We came in just shy of our revenue guidance range, generating $79.6 million, and more importantly were able to deliver positive adjusted EBITDA over the full year. In 2024, we anticipate interest rates to start to fall, hardware costs to continue to

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Source: SEC EDGAR

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