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Acorn Energy, Inc. (OTCQB: ACFN) is a leading provider of remote monitoring and control solutions for critical industrial assets. Through its subsidiary OmniMetrix, Acorn focuses on stand-by power generators, gas pipelines, air compressors, and other essential equipment. The company’s innovative solutions enhance productivity, reliability, security, and efficiency, offering significant improvements in operational performance and resource management.
OmniMetrix, a pioneer in the Internet of Things (IoT) sector, serves a diverse client base, including over 25 Fortune/Global 500 companies, providing robust monitoring solutions for cell towers, manufacturing plants, medical facilities, data centers, retail stores, public transportation systems, energy distribution, and governmental facilities. By leveraging IoT technology, OmniMetrix ensures critical systems remain operational, thus preventing costly downtimes and enhancing overall system reliability.
Acorn Energy’s core business revolves around its four portfolio companies:
- US Seismic Systems: Supplies advanced fiber optic sensing solutions designed to increase oil and gas production while reducing costs.
- GridSense: Provides comprehensive monitoring systems for critical points along the electricity delivery grid.
- OmniMetrix: Specializes in the remote monitoring of emergency back-up power generation systems, boosting their reliability and operational readiness.
- DSIT: Delivers cutting-edge security solutions to protect naval and marine-based energy assets from underwater threats.
Recent developments include a 22% revenue growth in Q2’23, driven by strong demand from national telecom customers. Acorn's total revenue has seen consistent growth, with Q3’23 revenue up by 17% compared to the previous year. The company also achieved positive net income and operating cash flow, reflecting robust financial health and operational efficiency.
Acorn Energy continues to advance its Demand Response (DR) programs, partnering with C-Power to enable grid support through backup generators. The recent reverse stock split and strategic reseller agreements signify Acorn’s commitment to expanding its market reach and enhancing shareholder value.
For more information, visit: www.acornenergy.com.
Acorn Energy (OTCQB:ACFN), specializing in remote monitoring and control solutions for backup power generators, gas pipelines, and air compressors, announces its participation in the Virtual Investor Summit microcap conference. The presentation is scheduled for Thursday, November 21st at 1:00 PM ET. CEO Jan Loeb will deliver the presentation and be available for one-on-one investor meetings throughout the day. The presentation will be accessible to all investors through a webcast link.
Acorn Energy (OTCQB: ACFN) reported strong Q3 2024 financial results with total revenue increasing 46.1% to $3.05M, driven by a 90.4% surge in hardware revenue to $1.91M and a 5.1% rise in monitoring revenue to $1.14M. The company's net income rose significantly to $725,000 ($0.29 per share) compared to $24,000 ($0.01 per share) in Q3 2023. The growth was partly attributed to a $724,000 hardware revenue from initial orders of a $5M contract with a major cell phone provider for monitoring cell tower backup generators. The company maintained a strong financial position with $2.2M in cash and no debt as of quarter-end.
Acorn Energy (OTCQB: ACFN), a provider of remote monitoring and control solutions for backup power generators, gas pipelines and air compressors, announced it will release Q3 2024 financial results before market open on Thursday, November 7th. The company will host an investor conference call at 11:00 a.m. ET, featuring CEO Jan Loeb and OmniMetrix CFO & COO Tracy Clifford. OmniMetrix, 99% owned by Acorn, provides IoT wireless monitoring solutions to thousands of commercial and residential customers, including over 25 Fortune/Global 500 companies, serving critical infrastructure like cell towers, medical facilities, and data centers.
Acorn Energy (OTCQB: ACFN), a provider of remote monitoring and control solutions for critical assets, has announced its 2024 Annual Meeting of Stockholders. The meeting is scheduled for Tuesday, September 17, 2024, at 2:00 PM ET and will be held both in-person and virtually via Zoom. Shareholders can attend in person at 2800 Quarry Lake Drive, Suite 130, Baltimore, Maryland 21209, or register in advance for virtual attendance.
Following the formal portion of the meeting, management will conduct a Q&A session to address shareholder questions. Investors can submit questions before and during the meeting to ACFN@catalyst-ir.com. For registration and technical assistance, shareholders can contact AcornMeeting@gmail.com.
Acorn Energy (OTCQB: ACFN) reported Q2'24 results with EPS improving to $0.11 from $0.04 year-over-year. Total revenue increased 15.3% to $2,275,000, driven by a 28.3% rise in hardware revenue and a 4.2% increase in monitoring revenue. The company secured a $5M contract with a leading wireless telecom provider for remote monitoring of cell tower backup generators. Acorn expects to achieve or exceed its 20% annual revenue growth target for this year and next. Net income attributable to Acorn stockholders improved to $271,000 in Q2'24 from $96,000 in Q2'23. The company maintains a strong financial position with $1,463,000 in cash and no debt as of June 30, 2024.
Acorn Energy (OTCQB: ACFN), a provider of remote monitoring and control solutions for backup power generators, gas pipelines, and air compressors, has announced its Q2 2024 conference call scheduled for Thursday, August 8th at 11:00 a.m. ET. The company will release its financial results before the market opens on the same day. Jan Loeb, President & CEO, and Tracy Clifford, CFO & COO of OmniMetrix, will discuss Q2 results and the 2024 outlook, as well as answer investor questions.
Investors can join the call using the dial-in number 1-844-834-0644 (US) or 1-412-317-5190 (International). An audio file and transcript will be made available online after the call. Questions can also be submitted via email to acfn@catalyst-ir.com.
Acorn Energy (OTCQB: ACFN) has secured a $5 million contract with a major U.S. wireless telecommunications provider through its OmniMetrix subsidiary. The contract involves providing remote monitoring and control for 5-10 thousand cell tower backup generators over two years, starting in Q3 2024. This is OmniMetrix's largest contract to date and is expected to significantly boost Acorn's revenue, contributing to its goal of 20% annual revenue growth for 2024 and 2025. The deal highlights the company's technological strength and customer service, positioning Acorn for future large-scale deployments.
Acorn Energy, Inc. reported positive Q1'24 financial results, with a significant improvement in EPS to $0.03 from a loss of ($0.03) per share in Q1'23. Revenue increased by 21.9%, driven by growth in both monitoring and hardware segments. The company achieved a gross profit margin of 74.6% and saw a net income of $65,000. Acorn's CEO highlighted the success in new monitoring hardware sales and ongoing development initiatives, including the OmniMetrix Demand Response program. The company remains optimistic about securing more commercial and industrial monitoring projects in 2024.
Acorn Energy, provider of remote monitoring and control solutions for stand-by power generators, gas pipelines, and air compressors, will host its Q1 conference call on Thursday, May 9th at 11:00 a.m. ET. The call will discuss Acorn's Q1 results, 2024 outlook, and answer investor questions. Jan Loeb, President & CEO, and Tracy Clifford, CFO of Acorn & COO of OmniMetrix, will lead the call.
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