Acorn Energy Q2 EPS triples to $0.11, revenue up 15%; secures $5M telecom contract

ACORN ENERGY, INC.

2024-Q2 EPS reported $0.13 revenue$4,407,000

Q2 net income $271k ($0.11/diluted) vs $96k ($0.04) YoY; total revenue $2.275M (+15.3%)
Hardware revenue +28.3% to $1.165M; monitoring revenue +4.2% to $1.11M; gross margin 73.2%
Largest contract ever: ~$5M with leading wireless carrier for 5-10k cell tower generators; $2M PO received, shipments start Q3'24
No debt; cash $1.463M; net working capital $2.559M; operating cash flow positive $41k in H1'24

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