Acorn Energy Q3 net income $0.01/share vs loss; revenue up 17%; signs generator dealer deal

ACORN ENERGY, INC.

2023-Q3 EPS reported $0.01 revenue$5,809,000

Q3 EPS $0.01 (vs. ($0.08) loss); net income $24K vs. $210K loss.
Revenue $2.09M, +17% YoY; monitoring +13%, hardware +22%.
Gross margin 74% (from 68%) on improved hardware margin and no inventory write-off.
Signed non-exclusive reseller agreement with leading US generator dealer; expects 2,500-3,000 connections/yr ($1-2M revenue) starting Q1 2024.
First Demand Response customers enrolled in Oct; awaiting ERCOT approval for 600 kW backup power.

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 0.95

ACORN ENERGY, INC. reported third quarter ended September 30, 2023 results: revenue $2,087, net income positive net income, EPS $0.01.

Period: third quarter ended September 30, 2023
Revenue: $2,087
Net income: positive net income
EPS: $0.01
Result: reported results

Exact text from the filing

9M’23 9M’22 Change Monitoring revenue $ 1,083 $ 958 +13.0 % $ 3,172 $ 2,914 +8.9 % Hardware revenue (1) $ 1,004 $ 825 +21.7 % $ 2,637 $ 2,241 +17.7 % Total revenue (2) $ 2,087 $ 1,783 +17.0 % $ 5,809 $ 5,155 +12.7 % Gross profit $ 1,550 $ 1,215 +27.6 % $ 4,356 $ 3,719 +17.1 % Gross margin 74.3 % 68.1 % 75.0 % 72.1 % (1) Q3’23 and 9M’23 include

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Source: SEC EDGAR

accession 0001493152-23-040003

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