secwatch.observer — SEC 8-K summary
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Issuer:     ENERGY FOCUS, INC/DE (EFOI)
CIK:        0000924168
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0000924168-22-000087
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924168/000092416822000087/0000924168-22-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924168/000092416822000087/efoi-20221110.htm
  HTML page:      https://secwatch.observer/filing/0000924168-22-000087

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