secwatch.observer — SEC 8-K summary
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Issuer:     SUNation Energy, Inc. (SUNE)
CIK:        0000022701
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0000897101-24-000166
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pineapple Energy Q1 revenue $13.2M (-40% YoY); adj. EBITDA loss $1.5M; net loss to common $10.1M
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- Revenue $13.2M, down 40% YoY; gross profit $4.8M, down 40% YoY.
- Operating loss $2.2M (+2% YoY); net income $1.2M but net loss attributable to common shareholders $10.1M due to $11.3M deemed dividends.
- Adjusted EBITDA loss $1.5M vs prior year positive $0.4M; CEO cites toughest operating conditions since going public.
- Residential kW installed down 18% QoQ, kW sold down 7% QoQ; backlog fell to $30M from $36M at year-end 2023.
- Cash and investments $3.3M, down from $7.6M a year ago; includes $1.5M restricted for contingent value rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/22701/000089710124000166/0000897101-24-000166-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/22701/000089710124000166/pegy240526_8k.htm
  HTML page:      https://secwatch.observer/filing/0000897101-24-000166

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer