Zeo Energy Q1 revenue up 4% to $19.5M; net loss $1.7M vs prior year profit

Zeo Energy Corp.

2024-Q1 EPS reported -$1.54 revenue$19,488,190

Revenue $19.5M (+4% YoY); gross profit $1.8M (-47% YoY) from $3.4M.
Net loss $1.7M (-8.7% of revenue) vs net income $1.6M in Q1 2023.
Adjusted EBITDA loss $1.2M vs $2.0M gain in prior-year quarter.
Completed merger with ESGEN Acquisition Corp. on March 13, 2024; merger expenses $11.7M.
Expanded into Ohio and Illinois; $15M preferred equity from Energy Spectrum.

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 0.9

Zeo Energy Corp. reported the first quarter ended March 31, 2024 results: revenue $19.5 million, net income Net loss for the quarter was $1.7 million.

Period: the first quarter ended March 31, 2024
Revenue: $19.5 million
Net income: Net loss for the quarter was $1.7 million
Result: reported results

Exact text from the filing

Results compare the 2024 fiscal first quarter ended March 31, 2024, to the 2023 fiscal first quarter ended March 31, 2023, unless otherwise indicated. ● Total revenue totaled $19.5 million, a 4.0% increase from $18.7 million in the comparable 2023 period. This increase was primarily due to the company reducing its backlog of jobs through the completion of installations during the quarter. ● Gross profit decreased to $1.8 million (9.5% of net revenue) from $3.4 million (18.6% of net revenue) in the comparable 2023 period. The decrease in gross profit was driven in part by deferred installation costs from 2023. ● Net loss for the quarter was $1.7 million (-8.7% of net revenue) compared to net income of approximately $1.6 million (8.6% of net revenue) in the comparable 2023 period.

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Source: SEC EDGAR

accession 0001213900-24-043868

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