Energy Focus Q2 net loss $1.2M; sales down 28.7% YoY; gross margin improves

ENERGY FOCUS, INC/DE

Net sales of $1.1M, down 28.7% YoY; commercial -54.7%, military +21.4%.
Net loss $1.2M ($0.42/share) vs. $2.5M loss ($2.43/share) in Q2 2022; operating loss improved to $1.1M.
Gross margin 17.0% (up from 7.4% YoY) on lower fixed costs and inventory reserve changes.
Cash $1.3M; total availability $1.5M; completed $1.3M private placement; 1-for-7 reverse split effective June 16.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ENERGY FOCUS, INC/DE reported the three and six months ended June 30, 2023 results: revenue $1.1 million, net income $1.2 million, or $(0.42) per basic and diluted share of common stock, EPS $(0.42) per basic and diluted share.

Period: the three and six months ended June 30, 2023
Revenue: $1.1 million
Net income: $1.2 million, or $(0.42) per basic and diluted share of common stock
EPS: $(0.42) per basic and diluted share
Result: reported results

Exact text from the filing

and military maritime market (“MMM”), today announced financial results for its second quarter ended June 30, 2023. Second Quarter 2023 Financial Highlights: • Net sales of $1.1 million, decreased 28.7% compared to the second quarter of 2022, reflecting a decrease of $0.5 million, or 54.7%, in commercial sales, partially offset by a $0.1 million, or 21.4%,

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ENERGY FOCUS, INC/DE filing history →

Source: SEC EDGAR

accession 0000924168-23-000083

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