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Energy Focus, Inc. (NASDAQ:EFOI) announced that its Annual Meeting on May 25, 2022, was adjourned due to a lack of quorum. Only 46.3% of the voting power was present, preventing any business from being conducted. The meeting is rescheduled for June 15, 2022, at 9:00 a.m. Eastern Time. Stockholders of record as of March 28, 2022, are encouraged to vote by June 14, 2022. If a quorum is still not reached at the adjourned meeting, Energy Focus may incur additional costs for further adjournments.
Energy Focus, Inc. (NASDAQ:EFOI), a leader in sustainable lighting and UV disinfection products, will present at the H.C. Wainwright Global Investment Conference from May 23-26, 2022, at Fontainebleau Miami Beach Hotel. The presentation, led by Chairman Stephen Socolof and SVP Greg Galluccio, is scheduled for May 25 at 10:00 a.m. Eastern. Attendees can listen online via a provided link. Energy Focus specializes in LED lighting and UV-C disinfection solutions, servicing various sectors, including U.S. navies and Fortune 500 companies. For more information, visit their website.
Energy Focus (NASDAQ:EFOI) reported a net loss of $2.8 million, or $(0.44) per share for Q1 2022, compared to a net loss of $1.6 million, or $(0.45) per share in Q1 2021. Net sales fell by 21.8% to $2.1 million, attributed mainly to a 46.2% decline in military sales, partially offset by a 24.2% increase in commercial sales. The gross profit margin turned negative at (1.3)%, down from 21.0%% in the prior year. Cash dropped to $0.2 million from $2.7 million at the end of 2021. Despite these challenges, the company aims for revenue improvements with new product launches in the second half of 2022.
Energy Focus, Inc. (NASDAQ:EFOI) will announce its financial results for the first quarter of 2022 on May 12, 2022, before the market opens. A conference call is scheduled for 11:00 a.m. ET on the same day to discuss the results. Investors can join the call via toll-free or international numbers. The call will also be available as a webcast through May 26, 2022, on the company's investor relations website. Energy Focus is recognized for its sustainable LED lighting and UV-C disinfection technologies, with significant installations in the U.S. Navy.
Energy Focus, Inc. (NASDAQ:EFOI) reported its financial results for Q4 and fiscal year 2021, showing a revenue decline of 41.4% to $9.9 million. Gross profit margin fell to 17.2% from 30.8% due to lower sales and fixed costs. The operating loss increased to $8.7 million, and net loss was $7.9 million, or ($1.73) per share. Cash stood at $2.7 million, with total availability at $4.4 million. New product shipments commenced, and the company appointed an interim CEO. The focus for 2022 is on improving efficiency in core markets and expanding UV disinfection solutions.
Energy Focus, Inc. (NASDAQ:EFOI) announced it will release its financial results for Q4 and fiscal year ended December 31, 2021, on March 17, 2022, pre-market. A conference call is scheduled for the same day at 11 a.m. ET to discuss the results. The call will be accessible via toll-free and international phone numbers, along with a live webcast. Energy Focus specializes in energy-efficient lighting solutions and UV disinfection technologies, serving various sectors, including military and commercial markets.
Energy Focus, Inc. (NASDAQ:EFOI) announced the appointment of Jeff Parker and Brian Lagarto to its Board of Directors, increasing the total number to six. Parker, an LED lighting veteran, brings nearly 30 years of experience and will serve on the Compensation Committee. Lagarto has extensive financial expertise, notably as a former CFO at SharkNinja, and will join the Audit and Finance Committee. Parker aims to help Energy Focus grow its innovative lighting technologies, while Lagarto's experience in consumer products aligns with the company's focus on market expansion.
Energy Focus, Inc. (NASDAQ: EFOI) has launched a marketing campaign with GRIDWISE, targeting gig drivers to promote its nUVo™ TRAVELER portable UVC air disinfectors. This collaboration aims to enhance safety against airborne pathogens, including SARS-CoV-2, by offering discounts to GRIDWISE’s 180,000 active users. The nUVo™ TRAVELER can destroy 99.9%+ of airborne pathogens in under one second and has been validated by Intertek. The partnership not only provides air safety but also supports drivers in maximizing their earnings during ongoing pandemic challenges.
Energy Focus (NASDAQ:EFOI) announced a definitive securities purchase agreement to issue 1,278,413 shares of common stock and warrants in a private placement for a total of approximately
Energy Focus (NASDAQ: EFOI) announces the immediate availability of its nUVo™ TRAVELER air disinfectors and pre-orders for the nUVo™ TOWER. These devices are designed to eliminate over 99.9% of airborne pathogens, including SARS-CoV-2. Validated by Intertek, these UVC air disinfectors provide an effective solution for improving safety in personal and public spaces without the need for filters or chemicals. nUVo™ TRAVELER is portable and rechargeable, while nUVo™ TOWER is suited for larger areas. Free shipping and BNPL options are available in the U.S.
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