Energy Focus Q3 net loss narrows to $0.9M; sales down 24% YoY

ENERGY FOCUS, INC/DE

Net sales $1.3M, down 24.1% YoY; commercial sales fell 61.3%, military sales up 76.7%.
Net loss $0.9M ($0.27 loss per share) vs net loss $2.7M ($2.03 loss per share) in Q3 2022.
Gross loss margin of 3.6% improved from gross loss margin of 9.2% in the prior year.
Cash $1.7M as of Sep 30, 2023, up from $52K at Dec 31, 2022; completed $1.8M private placement in Q3.
Adjusted EBITDA loss of $0.9M vs loss of $2.3M in Q3 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ENERGY FOCUS, INC/DE reported the three and nine months ended September 30, 2023 results: revenue $1.3 million, net income $0.9 million, or $(0.27) per basic and diluted share of common stock, EPS $(0.27) per basic and diluted share of common stock.

Period: the three and nine months ended September 30, 2023
Revenue: $1.3 million
Net income: $0.9 million, or $(0.27) per basic and diluted share of common stock
EPS: $(0.27) per basic and diluted share of common stock
Result: reported results

Exact text from the filing

and military maritime market (“MMM”), today announced financial results for its third quarter ended September 30, 2023. Third Quarter 2023 Financial Highlights: • Net sales of $1.3 million, decreased 24.1% compared to the third quarter of 2022, reflecting a decrease of $0.8 million, or 61.3%, in commercial sales, partially offset by a $0.4 million, or 76.7%,

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ENERGY FOCUS, INC/DE filing history →

Source: SEC EDGAR

accession 0000924168-23-000094

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