TELKONET INC - TKOI STOCK NEWS

Telkonet, Inc. (TKOI) reported financial results for Q2 2021, showcasing a 68% increase in product revenues to $1.39 million and a 32% rise in gross profit margin to 56%. Despite a 45% growth in total revenue to $1.86 million, the company still faces challenges from a sluggish market recovery. The net loss improved to $0.16 million, a decline of 84% year-over-year. Telkonet secured a second PPP loan of $0.91 million and plans to finalize a significant financing deal with VDA Group S.p.A. expected to close in Q4 2021.

Telkonet, Inc. (OTCQB:TKOI) has entered a Stock Purchase Agreement with VDA Group S.p.A. involving a $5 million investment for a majority stake in Telkonet. This strategic alliance aims to enhance market positions in Intelligent Automation and IoT technology, particularly in sectors like hospitality and assisted living. Following the investment, most of Telkonet's board will resign to make way for VDA's appointees. The deal is anticipated to close in Q4 2021, pending stockholder approval.

Telkonet, Inc. (TKOI) reported financial results for the quarter ending March 31, 2021. Total revenue fell by 28% year-over-year, down to $1.3 million. Despite a decrease in revenues, gross profit percentage improved to 55%, largely due to reduced costs. The company recorded a net income of $0.08 million, mainly attributed to a non-cash gain from loan forgiveness. Operating loss increased to $0.83 million from $0.64 million a year prior, influenced by higher selling and administrative expenses. A teleconference to discuss the results is scheduled for today at 4:30 PM EST.

Telkonet (OTCQB:TKOI) reported its financial results for the fiscal year ending December 31, 2020, revealing a 46% decrease in total revenues to $6.5 million, down from $12.0 million in 2019. The decline was primarily due to reduced sales from value-added resellers. Product revenues dropped 49%, while gross profit margin improved to 44%. The net loss increased to $3.1 million from the previous year's $1.9 million. Despite challenges posed by the COVID-19 pandemic, the company leveraged the Paycheck Protection Program to enhance operational efficiencies and foster innovation in its new technology, Rhapsody.

Telkonet, Inc. (OTCQB: TKOI) announced a collaboration with LG Air Conditioning Technologies to integrate their EcoSmart thermostat products with LG's HVAC systems. This partnership aims to enhance comfort, energy efficiency, and operational analytics in commercial spaces such as hospitality and healthcare. The integration allows for intelligent management of building environments through sensors and analytics, promising increased asset lifespan and reduced operational costs. The companies aim to provide next-generation HVAC solutions to commercial customers, ensuring optimal user experience.

Telkonet (OTCQB:TKOI) announces a strategic partnership with Mitsubishi Electric Trane HVAC US (METUS) to integrate CITY MULTI VRF zoning systems with Telkonet's EcoSmart energy management platform. This collaboration allows for advanced control and management of HVAC systems, enhancing occupant comfort and energy efficiency. With a focus on operational analytics, the integration supports various technologies like smart switches and voice controls, aiming to optimize building management. The integration is now available, providing a significant advancement in intelligent building solutions.

Telkonet (OTCQB:TKOI) has announced a strategic partnership with EnPowered to enhance its EcoSmart platform for energy management. EnPowered will provide its software solutions that simplify market participation in energy savings and management. This collaboration allows Telkonet to offer better energy intelligence, cost savings, and emission control to its customers. The move aligns with the growing emphasis on energy conservation and supports financial and operational efficiencies for building owners, reinforcing Telkonet's commitment to innovation in the intelligent automation space.

Telkonet, Inc. (OTCQB:TKOI) will announce its third-quarter financial results for the period ending September 30, 2020, on November 16, 2020. The company, based in Waukesha, WI, specializes in intelligent automation and energy management solutions for various sectors including hospitality and healthcare. A teleconference will be held at 4:30 PM ET to discuss these results. For further information, investors can access a replay of the call until November 30, 2020.

Telkonet, Inc. (OTCQB:TKOI) recently conducted its inaugural Virtual Partner Day, engaging numerous partners via virtual presentations due to COVID-19 restrictions. The event focused on commercial markets, sales activities, and engineering advances, showcasing Telkonet's EcoSmart and Rhapsody platforms. The participation of diverse partners highlighted the strong interest in Telkonet's intelligent automation solutions, which primarily support sectors such as Hospitality and Education. The company's channel partnerships are vital for revenue generation, reinforcing its position in the IoT market.