secwatch.observer — SEC 8-K summary
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Issuer:     ENERGY FOCUS, INC/DE (EFOI)
CIK:        0000924168
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001628280-24-022827
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924168/000162828024022827/0001628280-24-022827-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924168/000162828024022827/efoi-20240513.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-022827

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer