Welcome to our dedicated page for Sunworks news (Ticker: SUNW), a resource for investors and traders seeking the latest updates and insights on Sunworks stock.
Sunworks, Inc. (NASDAQ: SUNW) is a leading provider of high-performance solar power and battery storage solutions. With a robust commitment to quality and business practices that surpass industry standards, Sunworks excels in delivering reliable, clean energy solutions across various sectors including residential, agricultural, commercial, industrial, federal, and public works.
Sunworks is dedicated to providing exceptional customer service and adherence to the highest ethical and safety standards. Since its inception, the company has expanded its presence nationwide, supported by regional and local offices that ensure proximity and personalized service to its customers.
Noteworthy achievements of Sunworks include the acquisition of Solcius in 2021, which significantly enhanced its national footprint and broadened its market reach. The company has successfully installed over 200 MW of solar and battery storage systems, a testament to its expertise and capability in the renewable energy sector.
Sunworks' product offerings are designed to meet the diverse needs of clients from various industries. With a 25-year warranty, the company's solutions are backed by a solid commitment to quality and customer satisfaction. The team comprises seasoned professionals, including distinguished veterans who bring discipline and pride to their work, ensuring alignment with the company's guiding principles every day.
Sunworks is also a proactive member of the Solar Energy Industries Association (SEIA), contributing to the advancement of the renewable energy industry. The company has been recognized by Solar Power World as a leading solar supplier, further cementing its reputation as a top-tier provider of solar energy solutions.
Recently, Sunworks announced a definitive agreement with an ESG-focused institutional investor for the purchase of 3,300,000 shares of its common stock, aimed at raising $3.3 million for working capital and general corporate purposes. The company also unveiled its financial results for the second quarter of 2023, reporting a total revenue of $34.6 million and highlighting significant growth in its commercial solar segment despite challenges in the residential market.
As Sunworks navigates the evolving landscape of the solar industry, it remains focused on empowering customers with clean, reliable, and cost-effective energy solutions that reduce dependence on traditional energy sources. The company continues to innovate and adapt, positioning itself for future growth and long-term success in the renewable energy sector.
Sunworks, Inc. (NASDAQ:SUNW) has launched a nationwide recycling program in collaboration with Zeep Technology to ethically repurpose decommissioned solar panels, batteries, EV chargers, and inverters. This initiative follows Sunworks' successful recycling of 293 panels in 2021 and aims to address the environmental impact of solar waste, which sees 60% of panels typically ending up in landfills. The program has already secured nearly 400 panels for recycling in its first month, reinforcing Sunworks' commitment to environmental sustainability.
Sunworks, Inc. (NASDAQ:SUNW) has been recognized as one of the Top Solar Contractors in the U.S. by Solar Power World for 2022. This ranking reflects the company's strong performance in solar installation, having installed over 29,000 kilowatts in 2021 and a total of 224 megawatts since its founding in 2002. CEO Gaylon Morris emphasized record growth in solar installs and plans for further expansion in sales and operations to meet increasing customer demand. Sunworks is committed to enhancing environmental sustainability and empowering customers with energy independence.
Sunworks, Inc. (NASDAQ:SUNW) will announce its second quarter 2022 financial results on August 9, 2022, before market open. A conference call will follow at 1:00 P.M. ET to discuss the results and answer questions. Interested parties can access the webcast in the Investor Relations section of Sunworks' website. The company continues to focus on delivering solar power and battery storage solutions across various sectors. Key details about the call, including dial-in numbers and replay options, are also provided in the press release.
Sunworks, Inc. (NASDAQ:SUNW) has announced its virtual annual meeting of stockholders will take place on June 15, 2022, at 9 a.m. MDT (11 a.m. EDT). Stockholders are encouraged to vote by proxy prior to the meeting, as per the company's proxy materials. Questions can be submitted through a dedicated portal starting June 8, 2022. The meeting aims to engage stockholders in the company's future direction and operations.
For more information, stockholders can visit www.virtualshareholdermeeting.com/SUNW2022.
Sunworks, Inc. (NASDAQ:SUNW) reported Q1 2022 financial results with total revenue rising to $31.2 million, an increase of $25 million year-over-year. The gross profit reached $14 million, significantly up from $0.1 million in Q1 2021. The residential segment contributed $26.4 million while the commercial segment saw a $1.4 million decline to $4.8 million. The backlog stands at $63 million, indicating improved demand. However, the operating loss widened to $8.2 million against a $4.8 million loss last year.
Sunworks, Inc. (NASDAQ:SUNW) will announce its first quarter 2022 financial results on May 16, 2022, before market open. The company will hold a conference call at 1:00 P.M. ET to discuss these results and answer questions. Investors can access the live webcast through the Investor Relations section of their website. Participants need to register at least 15 minutes in advance. Sunworks is focused on providing high-performance solar power systems and expanding its operations across various sectors.
Sunworks, Inc. (NASDAQ:SUNW) reported a strong backlog of $58 million, overcoming seasonal weather and supply chain disruptions. For Q4 2021, total revenue surged to $31.7 million from $8.6 million YoY, bolstered by Solcius' acquisition, which contributed $26.1 million. Gross margin improved to 47.4%, while net loss increased to $13.5 million, or $0.47 per share. The full year 2021 revenue reached $101.2 million, up from $37.9 million, reflecting Solcius' impact. The company aims to enhance cash flow and expand through acquisitions, positioning itself for long-term growth.
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