Energy Focus Q1 net sales $0.8M, down 10.4% YoY; net loss narrows to $0.4M

ENERGY FOCUS, INC/DE

Net sales of $0.8M vs $0.9M in Q1 2023; military maritime sales fell $75K, commercial down $22K.
Gross margin improved to 14.4% from 1.8% a year ago, driven by cost reduction in freight and materials.
Net loss of $0.4M ($0.09 per share) improved from $1.3M ($0.58 per share) in Q1 2023.
Cash fell to $1.0M from $2.0M in Dec 2023 after paying off $1.0M Streeterville note.
Raised ~$450K via private placement of 283,109 shares at $1.59 per share in March 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ENERGY FOCUS, INC/DE reported first quarter ended March 31, 2024 results: revenue $0.8 million, net income $0.4 million, EPS $(0.09) per basic and diluted share.

Period: first quarter ended March 31, 2024
Revenue: $0.8 million
Net income: $0.4 million
EPS: $(0.09) per basic and diluted share
Result: reported results

Exact text from the filing

and military maritime and consumer markets, today announced financial results for its first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights: • Net sales of $0.8 million, decreased $0.1 million or 10.4% compared to the first quarter of 2023, driven by a decrease of $ 75 thousand in military maritime sales and $ 22 thousand in commercial sales .

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Source: SEC EDGAR

accession 0001628280-24-022827

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