Energy Focus Q3 net sales down 36% to $1.8M; net loss $2.7M, cash only $41k

ENERGY FOCUS, INC/DE

2022-FY EPS reported -$0.29 revenue$5,305,000

Net sales of $1.8M, down 35.8% YoY; negative gross margin of (9.2)% vs 20.5% a year ago.
Operating loss $2.4M, up 33% YoY; net loss $2.7M ($0.29 loss per share) vs $1.1M loss in Q3 2021.
Cash and total availability only $210k as of Sep 30, 2022, down from $2.7M cash at Dec 31, 2021.
Secured $1.1M through unsecured promissory notes issued in Sep, Oct, Nov 2022 to bolster liquidity.
Inventory reduction project disposed $563k gross value of excess commercial finished goods in Q3.

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 0.7

ENERGY FOCUS, INC/DE reported financial results for three and nine months ended September 30, 2022.

Period: three and nine months ended September 30, 2022
Result: reported results

Exact text from the filing

On November 10, 2022, Energy Focus, Inc. issued a press release announcing its financial results for the three and nine months ended September 30, 2022, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

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ENERGY FOCUS, INC/DE filing history →

Source: SEC EDGAR

accession 0000924168-22-000087

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