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) will host a conference call on March 11, 2022, at 1 p.m. ET to discuss its fourth quarter and full-year financial results. Interested parties can join by dialing 888-506-0062 (toll-free) or 973-528-0011, using conference ID 931944. The event will be webcast live via the Investor Relations section of Sunworks' website. A replay will be available for 90 days post-event. Sunworks specializes in solar power and battery storage solutions across multiple sectors, emphasizing quality and safety in its operations.
Sunworks, Inc. (NASDAQ:SUNW) has appointed Chris Monahan as its new Chief Legal Officer, bringing extensive legal and engineering expertise to the company. Monahan previously served as General Counsel at Thermal Engineering International and held senior legal roles at Parsons Corp. and AECOM. His appointment is expected to enhance Sunworks' risk management, streamline contracting processes, and support potential mergers and acquisitions. CEO Gaylon Morris and Chairperson Judith Hall expressed confidence in Monahan's ability to advance strategic initiatives and improve operational efficiency.
Sunworks, Inc. (NASDAQ:SUNW) has appointed Patrick C. McCullough to its Board of Directors, filling a vacancy left by Daniel Gross. McCullough brings over 24 years of executive experience in retail energy and renewables, recently serving as CEO of Just Energy Group. His expertise is expected to drive growth in Sunworks' solar offerings. Judith Hall, Board Chair, stated that McCullough’s experience will enhance their strategy and supply chain initiatives amidst a growing solar market. McCullough expressed enthusiasm for contributing to the company’s growth and increasing shareholder value.
Sunworks, Inc. (NASDAQ:SUNW) reported its Q3 2021 results, showcasing a revenue increase to $31.2 million from $7.3 million in Q3 2020, primarily due to the Solcius acquisition. Gross margin improved to 46.2%. However, the company faced a net loss of $6.5 million or $0.24 per share, worsening from $2.9 million in the prior year. They are proactively building inventory to address supply chain challenges. Looking ahead, Sunworks plans to expand its sales channels and residential markets, leveraging Solcius for growth.
Sunworks, Inc. (NASDAQ:SUNW) plans to release its third quarter financial results for the period ending September 30, 2021, on November 11, 2021. The announcement follows the market close, with a conference call scheduled at 5 p.m. ET the same day, featuring CEO Gaylon Morris, CFO Jason Bonfigt, and SVP Paul McDonnel. The call will be accessible via phone and live webcast, with a replay available for 90 days. Sunworks provides solar power and battery storage solutions across various sectors, aiming for quality and ethical business practices.
Sunworks, Inc. (NASDAQ:SUNW) reported preliminary third-quarter results for 2021, with revenues estimated between $29.5 million and $31.5 million. The company experienced a net loss between $6.4 million and $7.2 million, attributed to $3.1 million in non-cash charges from its acquisition and stock compensation. As of September 30, 2021, Sunworks had a backlog of $51 million and a cash balance of approximately $11 million. The CEO highlighted strong demand in solar systems and battery storage and proactive steps taken to address supply chain issues.
Sunworks, Inc. (NASDAQ:SUNW) announced on October 7, 2021, the appointments of Jason Bonfigt as Chief Financial Officer and Wayne Tomlinson as Chief Information Officer. Bonfigt, formerly CFO at Broadwind, brings extensive financial expertise in clean tech, while Tomlinson aims to enhance operational efficiency through technology. These leadership changes follow Sunworks' merger with Solcius, marking a strategic move to drive growth in the commercial and industrial sectors. CEO Gaylon Morris emphasized the importance of leadership in achieving sustainable growth.
Sunworks, Inc. (NASDAQ:SUNW) announced its agreement with CBG Building Company to install a 752.4kW carport solar system at the University of California, Davis for the Orchard Park student housing project. This initiative aims to enhance renewable energy use and reduce energy costs for the facility, which will house 1,549 students. The project is financed through tax-exempt bonds and will be overseen by the Collegiate Housing Foundation. Sunworks emphasizes its role in supporting California's clean energy goals and the benefits of this collaboration.
Sunworks, Inc. (NASDAQ:SUNW) reported significant growth in its Q2 2021 financial results, driven by the acquisition of Solcius, LLC. Revenue surged to $32.1 million, a substantial increase from $9.7 million year-over-year, with Solcius contributing $22.8 million. The company’s gross margin improved to 47.2% compared to 24.9% in the prior year. Despite these gains, Sunworks experienced a net loss of ($1.9 million), though an operating loss widened to ($4.8 million). The total backlog rose to $64.0 million, reflecting strong demand amid expansion efforts.
Sunworks, Inc. (NASDAQ:SUNW) will release its Q2 2021 financial results on August 11, 2021, after market close. CEO Gaylon Morris and CFO Paul McDonnel will host a conference call on August 13, 2021, at 10 a.m. ET to discuss results and provide updates. Interested parties can join via phone (844-602-0380) or through a live webcast on their Investor Relations website. A replay will be available post-call. The company focuses on solar power systems for various markets including residential and commercial sectors.
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