Acorn Energy FY2022 revenue $7.0M (+3.3%); net loss widens to $633k

ACORN ENERGY, INC.

GAAP revenue $7.0M in 2022, up 3.3% YoY; hardware revenue +12.5% to $3.09M.
Net loss attributable to Acorn $633k vs $21k in 2021 due to higher SG&A and R&D.
Q4 revenue $1.845M (+5.2% YoY); gross margin improved to 73.3% from 69.8%.
Cash $1.45M, no debt; expects monitoring revenue growth >20% in 2023 and potential profitability.
Demand response partnership with CPower expected to generate revenue late 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ACORN ENERGY, INC. reported financial results for the fourth quarter (Q4'22) and full-year periods ended December 31, 2022.

Period: the fourth quarter (Q4'22) and full-year periods ended December 31, 2022
Result: reported results

Exact text from the filing

On March 16, 2023, the Registrant issued a press release announcing its 2022 fourth quarter and full year results.

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ACORN ENERGY, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-007831

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