Acorn Energy Q2 net loss of $223K vs $2K income; revenue flat; demand response program announced

ACORN ENERGY, INC.

2023-Q2 EPS reported -$0.01 revenue$3,372,000

Q2 revenue $1.62M (+0.6% YoY); hardware revenue up 10% to $655K, monitoring down 5% to $966K.
Gross margin improved to 76.9% from 75.9%; operating loss of $222K vs operating income of $5K.
Net loss $223K ($0.01/sh) vs net income $2K ($0.00/sh); H1 net loss $346K vs $22K income.
Cash $1.26M at June 30, 2022 (down from $1.72M at Dec 31, 2021); no debt outstanding.
Partnered with CPower Energy Management for demand response program; expects launch late 2022, impact in 2023.

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