Energy Focus, Inc. Reports Second Quarter 2022 Financial Results
Energy Focus, Inc. (NASDAQ:EFOI) reported second quarter 2022 financial results with net sales of $1.5 million, representing a 28.6% decline from Q2 2021, driven by a 49.3% drop in military sales. The gross profit margin fell to 7.4% from 18.9% year-over-year but improved from a negative (1.3)% in the previous quarter. The net loss was $2.5 million, or $(0.35) per share, consistent with last year but reduced from $(0.44) in Q1 2022. Cash reserves dropped to $0.9 million, while upcoming product offerings and cost-saving initiatives aim to improve future results.
- Gross profit margin improved sequentially from (1.3)% to 7.4%.
- Net loss decreased from $2.8 million in Q1 2022 to $2.5 million in Q2 2022.
- Cash reserves from financing initiatives totaled $5 million in net proceeds.
- Net sales decreased by 28.6% year-over-year, primarily due to lower military sales.
- Gross profit decreased significantly compared to Q2 2021, attributed to lower sales volume and unfavorable product mix.
- Total availability dropped to $2.5 million as of June 30, 2022, from $4.1 million in the prior year.
Conference Call to be Held Today at
Second Quarter 2022 Financial Highlights:
-
Net sales of
, decreased$1.5 million 28.6% compared to the second quarter of 2021, reflecting a , or$0.5 million 49.3% decrease in military sales, as well as a decrease of , or$0.1 million 9.6% in commercial sales, year-over-year. As compared to the first quarter of 2022, net sales decreased by28.2% , primarily reflecting a decrease in military sales and a$0.4 million decrease in commercial sales.$0.2 million -
Gross profit margin of
7.4% was down from18.9% in the second quarter of 2021, and up from negative gross profit margin of (1.3)% in the first quarter of 2022. The year-over-year decrease was driven by lower sales and less favorable product mix. Sequentially, despite lower sales and negative impacts from the mix of products sold, the increase in gross profit margin primarily relates to a favorable change in inventory reserves offset slightly by the unfavorable impact of a scrap write-off. -
Loss from operations of
was flat as compared to the second quarter of 2021. Loss from operations improved$2.2 million 7.7% as compared to a loss from operations of in the first quarter of 2022.$2.7 million -
Net loss of
, or$2.5 million per basic and diluted share of common stock, compared to a net loss of$(0.35) , or$2.5 million per basic and diluted share of common stock, in the second quarter of 2021. Sequentially, the net loss decreased by$(0.59) compared to net loss of$0.3 million , or$2.8 million per basic and diluted share of common stock, in the first quarter of 2022.$(0.44) -
Cash of
, included in total availability (as defined under “Non-GAAP Measures” below) of$0.9 million , each as of$2.5 million June 30, 2022 , as compared to cash of and total availability of$2.7 million as of$1.1 million December 31, 2021 . -
An
April 2022 unsecured bridge financing generated in net liquidity after discounts and transaction expenses, and a$1.8 million June 2022 private placement for the sale of common stock and warrants resulted in net proceeds of .$3.2 million
Second Quarter 2022 Financial Results:
Net sales were
Gross profit was
Sequentially, gross profit of
Adjusted gross margin, as defined under “Non-GAAP Measures” below, was (5.1)% for the second quarter of 2022, compared to
Operating loss was
Adjusted EBITDA, as defined under “Non-GAAP Measures” below, was a loss of
Cash was
Earnings Conference Call:
The Company will host a conference call and webcast today,
You can access the live conference call by dialing the following phone numbers:
- Toll free 1-877-451-6152 or
- International 1-201-389-0879
- Conference ID# 13731731
The conference call will be simultaneously webcast. To listen to the webcast, log onto it at: https://viavid.webcasts.com/starthere.jsp?ei=1560780&tp_key=11d78b462d. The webcast will be available at this link through
About
Forward-Looking Statements:
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “feels,” “seeks,” “forecasts,” “projects,” “intends,” “plans,” “may,” “will,” “should,” “could” or “would” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies, capital expenditures, and the industry in which we operate. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Although we base these forward-looking statements on assumptions that we believe are reasonable when made in light of the information currently available to us, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and industry developments may differ materially from statements made in or suggested by the forward-looking statements contained in this release. We believe that important factors that could cause our actual results to differ materially from forward-looking statements include, but are not limited to: (i) instability in the
Condensed Consolidated Balance Sheets |
|||||
(in thousands) |
|||||
|
|
|
|
||
|
(Unaudited) |
|
|
||
ASSETS |
|
|
|
||
Current assets: |
|
|
|
||
Cash |
$ |
938 |
|
$ |
2,682 |
Trade accounts receivable, less allowances of |
|
1,155 |
|
|
1,240 |
Inventories, net |
|
7,168 |
|
|
7,866 |
Short-term deposits |
|
501 |
|
|
712 |
Prepaid and other current assets |
|
847 |
|
|
924 |
Total current assets |
|
10,609 |
|
|
13,424 |
|
|
|
|
||
Property and equipment, net |
|
585 |
|
|
675 |
Operating lease, right-of-use asset |
|
1,316 |
|
|
292 |
Total assets |
$ |
12,510 |
|
$ |
14,391 |
|
|
|
|
||
LIABILITIES |
|
|
|
||
Current liabilities: |
|
|
|
||
Accounts payable |
$ |
1,309 |
|
$ |
2,235 |
Accrued liabilities |
|
199 |
|
|
265 |
Accrued legal and professional fees |
|
53 |
|
|
104 |
Accrued payroll and related benefits |
|
486 |
|
|
718 |
Accrued sales commissions |
|
55 |
|
|
57 |
Accrued warranty reserve |
|
315 |
|
|
295 |
Deferred revenue |
|
— |
|
|
268 |
Operating lease liabilities |
|
180 |
|
|
325 |
Finance lease liabilities |
|
— |
|
|
1 |
Streeterville - 2021 note, net of discount and loan origination fees |
|
809 |
|
|
1,719 |
Streeterville - 2022 note, net of discount and loan origination fees |
|
1,031 |
|
|
— |
Credit line borrowings, net of loan origination fees |
|
1,981 |
|
|
2,169 |
Total current liabilities |
|
6,418 |
|
|
8,156 |
Condensed Consolidated Balance Sheets |
|||||||
(in thousands) |
|||||||
|
|
|
|
||||
|
(Unaudited) |
|
|
||||
Operating lease liabilities, net of current portion |
|
1,133 |
|
|
|
26 |
|
Streeterville note, net of current maturities |
|
788 |
|
|
|
— |
|
Total liabilities |
|
8,339 |
|
|
|
8,182 |
|
|
|
|
|
||||
STOCKHOLDERS' EQUITY |
|
|
|
||||
Preferred stock, par value |
|
|
|
||||
Authorized: 5,000,000 shares (3,300,000 shares designated as Series A Convertible Preferred Stock) at |
|
|
|
||||
Issued and outstanding: 876,447 at |
|
— |
|
|
|
— |
|
Common stock, par value |
|
|
|
||||
Authorized: 50,000,000 shares at |
|
|
|
||||
Issued and outstanding: 7,811,460 at |
|
1 |
|
|
|
— |
|
Additional paid-in capital |
|
148,221 |
|
|
|
144,953 |
|
Accumulated other comprehensive loss |
|
(3 |
) |
|
|
(3 |
) |
Accumulated deficit |
|
(144,048 |
) |
|
|
(138,741 |
) |
Total stockholders' equity |
|
4,171 |
|
|
|
6,209 |
|
Total liabilities and stockholders' equity |
$ |
12,510 |
|
|
$ |
14,391 |
|
Condensed Consolidated Statements of Operations |
|||||||||||||||||||
(in thousands, except per share data) |
|||||||||||||||||||
(unaudited) |
|||||||||||||||||||
|
Three months ended |
|
Six months ended |
||||||||||||||||
|
|
|
|
|
|
|
2022 |
|
2021 |
||||||||||
Net sales |
$ |
1,480 |
|
|
$ |
2,061 |
|
|
$ |
2,074 |
|
|
$ |
3,541 |
|
|
$ |
4,711 |
|
Cost of sales |
|
1,371 |
|
|
|
2,087 |
|
|
|
1,681 |
|
|
|
3,458 |
|
|
|
3,765 |
|
Gross profit (loss) |
|
109 |
|
|
|
(26 |
) |
|
|
393 |
|
|
|
83 |
|
|
|
946 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Operating expenses: |
|
|
|
|
|
|
|
|
|
||||||||||
Product development |
|
353 |
|
|
|
503 |
|
|
|
370 |
|
|
|
856 |
|
|
|
1,023 |
|
Selling, general, and administrative |
|
1,964 |
|
|
|
2,127 |
|
|
|
2,268 |
|
|
|
4,091 |
|
|
|
4,486 |
|
Restructuring recovery |
|
— |
|
|
|
— |
|
|
|
(3 |
) |
|
|
— |
|
|
|
(22 |
) |
Total operating expenses |
|
2,317 |
|
|
|
2,630 |
|
|
|
2,635 |
|
|
|
4,947 |
|
|
|
5,487 |
|
Loss from operations |
|
(2,208 |
) |
|
|
(2,656 |
) |
|
|
(2,242 |
) |
|
|
(4,864 |
) |
|
|
(4,541 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Other expenses (income): |
|
|
|
|
|
|
|
|
|
||||||||||
Interest expense |
|
260 |
|
|
|
184 |
|
|
|
216 |
|
|
|
444 |
|
|
|
343 |
|
Gain on forgiveness of Paycheck Protection Program loan |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(801 |
) |
Other income |
|
— |
|
|
|
(30 |
) |
|
|
— |
|
|
|
(30 |
) |
|
|
— |
|
Other expenses |
|
18 |
|
|
|
11 |
|
|
|
15 |
|
|
|
29 |
|
|
|
32 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net loss |
$ |
(2,486 |
) |
|
$ |
(2,821 |
) |
|
$ |
(2,473 |
) |
|
$ |
(5,307 |
) |
|
$ |
(4,115 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Net loss per common share attributable to common stockholders - basic: |
|
|
|
|
|
|
|
|
|
||||||||||
From operations |
$ |
(0.35 |
) |
|
$ |
(0.44 |
) |
|
$ |
(0.59 |
) |
|
$ |
(0.78 |
) |
|
$ |
(1.05 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Weighted average shares of common stock outstanding: |
|
|
|
|
|
|
|
|
|
||||||||||
Basic and diluted |
|
7,166 |
|
|
|
6,437 |
|
|
|
4,211 |
|
|
|
6,803 |
|
|
|
3,913 |
|
Condensed Consolidated Statements of Cash Flows |
|||||||||||||||||||
(in thousands) |
|
|
|
|
|
|
|
||||||||||||
(unaudited) |
|
|
|
|
|
|
|
|
|
||||||||||
|
Three months ended |
|
Six months ended |
||||||||||||||||
|
|
|
|
|
|
|
2022 |
|
2021 |
||||||||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
||||||||||
Net loss |
|
(2,486 |
) |
|
$ |
(2,821 |
) |
|
$ |
(2,473 |
) |
|
$ |
(5,307 |
) |
|
$ |
(4,115 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
|
|
||||||||||
Other income |
|
— |
|
|
|
(30 |
) |
|
|
— |
|
|
|
(30 |
) |
|
|
— |
|
Gain on forgiveness of Paycheck Protection Program loan |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(801 |
) |
Depreciation |
|
43 |
|
|
|
44 |
|
|
|
53 |
|
|
|
87 |
|
|
|
100 |
|
Stock-based compensation |
|
54 |
|
|
|
44 |
|
|
|
208 |
|
|
|
98 |
|
|
|
348 |
|
Provision for doubtful accounts receivable |
|
5 |
|
|
|
(9 |
) |
|
|
2 |
|
|
|
(4 |
) |
|
|
8 |
|
Provision for slow-moving and obsolete inventories |
|
(185 |
) |
|
|
129 |
|
|
|
(28 |
) |
|
|
(56 |
) |
|
|
61 |
|
Provision for warranties |
|
51 |
|
|
|
(30 |
) |
|
|
— |
|
|
|
21 |
|
|
|
12 |
|
Amortization of loan discounts and origination fees |
|
91 |
|
|
|
69 |
|
|
|
59 |
|
|
|
160 |
|
|
|
97 |
|
Changes in operating assets and liabilities (sources / (uses) of cash): |
|
|
|
|
|
|
|
|
|
||||||||||
Accounts receivable |
|
184 |
|
|
|
(83 |
) |
|
|
358 |
|
|
|
101 |
|
|
|
890 |
|
Inventories |
|
384 |
|
|
|
370 |
|
|
|
(586 |
) |
|
|
754 |
|
|
|
(2,549 |
) |
Short-term deposits |
|
47 |
|
|
|
12 |
|
|
|
137 |
|
|
|
59 |
|
|
|
149 |
|
Prepaid and other assets |
|
96 |
|
|
|
20 |
|
|
|
(32 |
) |
|
|
116 |
|
|
|
(28 |
) |
Accounts payable |
|
(777 |
) |
|
|
61 |
|
|
|
(869 |
) |
|
|
(716 |
) |
|
|
82 |
|
Accrued and other liabilities |
|
(149 |
) |
|
|
(211 |
) |
|
|
(149 |
) |
|
|
(360 |
) |
|
|
(358 |
) |
Deferred revenue |
|
— |
|
|
|
(268 |
) |
|
|
(2 |
) |
|
|
(268 |
) |
|
|
(1 |
) |
Total adjustments |
|
(156 |
) |
|
|
118 |
|
|
|
(849 |
) |
|
|
(38 |
) |
|
|
(1,990 |
) |
Net cash used in operating activities |
|
(2,642 |
) |
|
|
(2,703 |
) |
|
|
(3,322 |
) |
|
|
(5,345 |
) |
|
|
(6,105 |
) |
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
||||||||||
Acquisitions of property and equipment |
|
(2 |
) |
|
|
(35 |
) |
|
|
(102 |
) |
|
|
(37 |
) |
|
|
(211 |
) |
Net cash used in investing activities |
|
(2 |
) |
|
|
(35 |
) |
|
|
(102 |
) |
|
|
(37 |
) |
|
|
(211 |
) |
Condensed Consolidated Statements of Cash Flows - continued |
|||||||||||||||||||
(in thousands) |
|
|
|
|
|
|
|
|
|
||||||||||
(unaudited) |
|
|
|
|
|
|
|
|
|
||||||||||
|
Three months ended |
|
Six months ended |
||||||||||||||||
|
|
|
|
|
|
|
2022 |
|
2021 |
||||||||||
Cash flows from financing activities (sources / (uses) of cash): |
|
|
|
|
|
|
|
|
|
||||||||||
Proceeds from the issuance of common stock and warrants |
|
3,500 |
|
|
|
— |
|
|
|
5,000 |
|
|
|
3,500 |
|
|
|
5,000 |
|
Proceeds from the exercise of warrants |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
527 |
|
Offering costs paid on the issuance of common stock and warrants |
|
(334 |
) |
|
|
— |
|
|
|
(469 |
) |
|
|
(334 |
) |
|
|
(469 |
) |
Principal payments under finance lease obligations |
|
— |
|
|
|
(1 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
|
|
(2 |
) |
Proceeds from exercise of stock options and employee stock purchase plan purchases |
|
5 |
|
|
|
— |
|
|
|
59 |
|
|
|
5 |
|
|
|
59 |
|
Common stock withheld in lieu of income tax withholding on vesting of restricted stock units |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
Proceeds from the 2021 Streeterville note |
|
— |
|
|
|
— |
|
|
|
1,515 |
|
|
|
— |
|
|
|
1,515 |
|
Payments on the 2021 Streeterville note |
|
(410 |
) |
|
|
(615 |
) |
|
|
— |
|
|
|
(1,025 |
) |
|
|
— |
|
Proceeds from the 2022 Streeterville note |
|
2,000 |
|
|
|
— |
|
|
|
— |
|
|
|
2,000 |
|
|
|
— |
|
Deferred financing costs paid |
|
(234 |
) |
|
|
— |
|
|
|
(30 |
) |
|
|
(234 |
) |
|
|
(30 |
) |
Net (payments) proceeds from the credit line borrowings - Credit Facilities |
|
(1,170 |
) |
|
|
897 |
|
|
|
(1,871 |
) |
|
|
(273 |
) |
|
|
(791 |
) |
Net cash provided by financing activities |
|
3,357 |
|
|
|
281 |
|
|
|
4,203 |
|
|
|
3,638 |
|
|
|
5,807 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net increase (decrease) in cash and restricted cash |
|
713 |
|
|
|
(2,457 |
) |
|
|
779 |
|
|
|
(1,744 |
) |
|
|
(509 |
) |
Cash and restricted cash, beginning of period |
|
225 |
|
|
|
2,682 |
|
|
|
890 |
|
|
|
2,682 |
|
|
|
2,178 |
|
Cash and restricted cash, end of period |
$ |
938 |
|
|
$ |
225 |
|
|
$ |
1,669 |
|
|
$ |
938 |
|
|
$ |
1,669 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Classification of cash and restricted cash: |
|
|
|
|
|
|
|
|
|
||||||||||
Cash |
$ |
938 |
|
|
$ |
225 |
|
|
$ |
1,327 |
|
|
$ |
938 |
|
|
$ |
1,327 |
|
Restricted cash held in other assets |
|
— |
|
|
|
— |
|
|
|
342 |
|
|
|
— |
|
|
|
342 |
|
Cash and restricted cash |
$ |
938 |
|
|
$ |
225 |
|
|
$ |
1,669 |
|
|
$ |
938 |
|
|
$ |
1,669 |
|
Sales by Product |
||||||||||||||
(in thousands) |
||||||||||||||
(unaudited) |
||||||||||||||
|
Three months ended |
|
Six months ended |
|||||||||||
|
|
|
|
|
|
|
2022 |
|
2021 |
|||||
Net sales: |
|
|
|
|
|
|
|
|
|
|||||
Commercial |
$ |
975 |
|
$ |
1,134 |
|
$ |
1,078 |
|
$ |
2,109 |
|
$ |
1,991 |
Military maritime products |
|
505 |
|
|
927 |
|
|
996 |
|
|
1,432 |
|
|
2,720 |
Total net sales |
$ |
1,480 |
|
$ |
2,061 |
|
$ |
2,074 |
|
$ |
3,541 |
|
$ |
4,711 |
|
|
|
|
|
|
|
|
|
|
Non-GAAP Measures
In addition to the results in this release that are presented in accordance with generally accepted accounting principles in
- total availability, which we define as our ability on the period end date to access additional cash if necessary under our short-term credit facilities, plus the amount of cash on hand on that same date;
- adjusted EBITDA, which we define as net income (loss) before giving effect to restructuring expenses, financing charges, income taxes, non-cash depreciation, stock non-cash compensation, accrued incentive compensation, non-routine charges to other income or expense, and change in fair value of warrant liability; and
- adjusted gross margins, which we define as our gross profit margins during the period without the impact from excess and obsolete, in-transit and net realizable value inventory reserve movements that do not reflect current period inventory decisions.
We believe that our use of these non-GAAP financial measures permits investors to assess the operating performance of our business relative to our performance based on
Total availability, adjusted EBITDA and adjusted gross margins do not represent cash generated from operating activities in accordance with
|
As of |
||||||||||
(in thousands) |
|
|
|
|
|
||||||
Total borrowing capacity under credit facilities |
$ |
3,568 |
|
|
$ |
4,026 |
|
|
$ |
4,490 |
|
Less: Credit line borrowings, gross(1) |
|
(2,015 |
) |
|
|
(3,175 |
) |
|
|
(1,698 |
) |
Excess availability under credit facilities(2) |
|
1,553 |
|
|
|
851 |
|
|
|
2,792 |
|
Cash |
|
938 |
|
|
|
225 |
|
|
|
1,327 |
|
Total availability(3) |
$ |
2,491 |
|
|
$ |
1,076 |
|
|
$ |
4,119 |
|
(1)Forms 10-Q Balance Sheets reflect the Line of credit net of debt financing costs of |
|||||||||||
(2)Excess availability under credit facilities - represents difference between maximum borrowing capacity of credit facilities and actual borrowings |
|||||||||||
(3)Total availability - represents Company’s ‘access’ to cash if needed at point in time |
|
Three months ended |
|
Six months ended |
||||||||||||||||
(in thousands) |
|
|
|
|
|
|
2022 |
|
2021 |
||||||||||
Net loss |
$ |
(2,486 |
) |
|
$ |
(2,821 |
) |
|
$ |
(2,473 |
) |
|
$ |
(5,307 |
) |
|
$ |
(4,115 |
) |
Restructuring expense (recovery) |
|
— |
|
|
|
— |
|
|
|
(3 |
) |
|
|
— |
|
|
|
(22 |
) |
Net loss, excluding restructuring |
|
(2,486 |
) |
|
|
(2,821 |
) |
|
|
(2,476 |
) |
|
|
(5,307 |
) |
|
|
(4,137 |
) |
Interest |
|
260 |
|
|
|
184 |
|
|
|
216 |
|
|
|
444 |
|
|
|
343 |
|
Gain on forgiveness of Paycheck Protection Program loan |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(801 |
) |
Other income |
|
— |
|
|
|
(30 |
) |
|
|
— |
|
|
|
(30 |
) |
|
|
— |
|
Depreciation |
|
43 |
|
|
|
44 |
|
|
|
53 |
|
|
|
87 |
|
|
|
100 |
|
Stock-based compensation |
|
54 |
|
|
|
44 |
|
|
|
208 |
|
|
|
98 |
|
|
|
348 |
|
Other incentive compensation |
|
33 |
|
|
|
(5 |
) |
|
|
12 |
|
|
|
28 |
|
|
|
130 |
|
Adjusted EBITDA |
$ |
(2,096 |
) |
|
$ |
(2,584 |
) |
|
$ |
(1,987 |
) |
|
$ |
(4,680 |
) |
|
$ |
(4,017 |
) |
|
Three Months Ended |
||||||||||||||||
(in thousands) |
|
|
|
|
|
||||||||||||
|
($) |
(%) |
|
($) |
(%) |
|
($) |
(%) |
|||||||||
Net sales |
$ |
1,480 |
|
|
|
$ |
2,061 |
|
|
|
$ |
2,074 |
|
|
|||
Actual gross profit |
$ |
109 |
|
7.4 |
% |
|
$ |
(26 |
) |
(1.3 |
)% |
|
$ |
393 |
|
18.9 |
% |
E&O, in-transit and net realizable value inventory reserve changes, net of scrap write-off for inventory reduction |
|
(185 |
) |
(12.5 |
)% |
|
|
129 |
|
6.3 |
% |
|
|
(28 |
) |
(1.4 |
)% |
Adjusted gross profit |
$ |
(76 |
) |
(5.1 |
)% |
|
$ |
103 |
|
5.0 |
% |
|
$ |
365 |
|
17.6 |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20220811005074/en/
Investor Contact:
Interim Chief Executive Officer
(216) 715-1300
Source:
FAQ
What were Energy Focus's Q2 2022 sales figures?
What is the net loss reported by Energy Focus for Q2 2022?
How did the gross profit margin change in Q2 2022 for EFOI?
What financial measures did Energy Focus take to improve liquidity?