secwatch.observer — SEC 8-K summary
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Issuer:     ENERGY FOCUS, INC/DE (EFOI)
CIK:        0000924168
Form:       8-K
Filed at:   2023-03-23T23:59:59+00:00
Accession:  0000924168-23-000033
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Energy Focus FY2022 net sales down 39.5% to $6.0M; net loss $10.3M; cash only $52K
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- Net sales $6.0M vs $9.9M in 2021; gross margin negative (5.3)% vs positive 17.2%.
- Net loss $10.3M ($1.27 per share) vs $7.9M loss in 2021; operating loss $9.3M.
- Cash fell to $52K from $2.7M; total availability $107K as of Dec 31, 2022.
- Raised ~$1.5M from promissory notes, $2.1M strategic investment from Sander Electronics in Jan 2023, and $650K private placements.
- CEO Lesley Matt, hired Sept 2022, cites supply chain constraints, pivot back to LED/military from UVCD.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924168/000092416823000033/0000924168-23-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924168/000092416823000033/efoi-20230323.htm
  HTML page:      https://secwatch.observer/filing/0000924168-23-000033

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