WEB NEWS Research
Energy Focus, Inc. (NASDAQ:EFOI)
We talked about how recurring losses, liquidity issues and management inability to reach product launch deadlines continue to persist. The conviction was stated as a 2, but since the forum we have decided to remove it from our Model Portfolios.
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($1.95; $9.9M market cap), a company that designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally, announced the launch of its nUVo™ TRAVELER for immediate delivery and taking pre-orders on nUVo™ TOWER for expected for delivery in early January 2022.
“As people and countries worldwide continue to battle SARS-CoV-2 and its unpredictable mutations and constantly evolving variants, we believe our patent-pending nUVo™ TRAVELER and nUVo™ TOWER provide uniquely powerful, filter-free and chemical-free air disinfection solutions to help create safer spaces—whether at home, in the office or as they travel,”
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($3.6; $14.4M market cap), a company that designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally, announced Q2 2021 results:
Sales of $2.1 million vs $3.3 million in the prior year
Loss per share of $0.59 vs loss of $0.29 in the prior year
“Our second quarter results were impacted by the military market that experienced funding delays and from the continued weakness in our commercial lighting retrofit market, although we have already seen a few orders so far in the third quarter that we believe represent opportunities delayed from the first half of 2021...
...we have also been expanding our channel partnerships to distribute these impactful human-centric lighting products, notably by signing a marketing partnership with FirstEnergy Home and FirstEnergy Advisors, for both our lighting and UVCD products, and a distribution agreement with threeUV, a leading UV product distributor for the public and institutional sectors...
...We anticipate our military market will improve in the second half of the year as funding becomes available, and we believe that our strategy to focus on leading the sales activities with our unique offerings such as RedCap® and EnFocusTM, as well as our newly launched products for both consumer and commercial markets, will lead to recovering sales during the second half of 2021”
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($3.75; $13.8M market cap) , a company that designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally, announced it has partnered with Batteries Plus Bulbs for national distribution.
Batteries Plus has over 700 stores across the U.S.
"We are honored to be the first national retailer to offer Energy Focus’ high-quality, cutting-edge LED lighting products,” said Shawn Budiac, Vice President-Category Management for Batteries Plus Bulbs. “We are impressed with Energy Focus’ long history of innovations and market-leading LED products and we believe that our retail and commercial customers will benefit from having these superior choices for both lighting retrofit and new-build applications.”
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($3.93; $16.4M market cap) , a company that designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally, announced Q4 2020 results:
Sales of $3.7 million vs $3.5 million in the prior year
Loss of $0.25 vs loss of $0.39 in the prior year
“We entered 2021 poised for exciting growth, driven particularly by our commercial lighting business and the forthcoming UVCD product lines,” continued Mr. Tu. “The overall customer reaction to our new family of patent-pending EnFocusTM lighting control platform has been quite positive and enthusiastic, and we significantly strengthened our sales and marketing organizations that resulted in an expanded distribution network with new agency and channel partners. These developments give us optimism and confidence for our growth prospects as the reopening of the economy accelerates throughout 2021…
...In addition, our recently developed robotic UV-C surface disinfection services, mUVeCrew, is now being piloted at potential customer sites. We believe that these innovative and unique products and solutions, currently being finalized and will start deliveries later in second quarter of 2021, will help people and organizations return to normal social activities through effective and powerful disinfection capabilities. They also open up a completely new, emerging and potentially large market that could propel our growth in the coming quarters and likely years...
...We believe that our rapidly expanding human-centric lighting product offerings...represent the most advanced and sustainable lighting product portfolio in the marketplace today that optimizes financial, environmental and human impacts, and we are aiming to achieve a breakout year in 2021 as the macro-economic environment improves and the adoptions of our existing and new products expand in meaningful ways.”
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($5.00; $17.5M market cap) , a company that designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally, announced it has partnered with Dalkia, a $5 billion, global energy services company that provides advanced and comprehensive energy efficiency and sustainability solutions for buildings and facilities.
“As a leading, global energy services solutions provider, Dalkia has a stellar and time-tested reputation as a thought leader and innovator in delivering optimal energy savings and sustainability improvements for large, complex facilities’ infrastructures. We very much look forward to offering our industry-leading LED lighting technologies including human-centric lighting and UV-C disinfection products that further elevate the energy efficiency, sustainability, and wellness impacts that Dalkia brings to their customers.”
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($4.60; $19.2M market cap) is expected to roll out its UV “Sanitizing Robot” soon. The product was highlighted on Northeast Ohio local news . EFOI designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally.
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($5.05; $17.6M market cap) , a company that designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally, announced 3 new sales agencies to expand its territories.
We deem this to be a very important step in the company's goal to aggressively grow revenue. Over the last year, EFOI has been developing new product lines and we feel that aligning themselves with sales partners is the right way to go to commercialize these products, given the company's current weakened (although much improved) financial health.
Information about sales partners:
CW Lighting and Associates, LLC, founded in 1983 and based in Houston, Texas is now a sales agent of Energy Focus, Inc. for commercial and industrial customers
Flex Green Lighting, the energy and lighting division of a 35-year electrical distribution company based in Indianapolis, Indiana is now the sales agent for Energy Focus, Inc. for the majority of the state of Indiana.
LEC and Company, based in St. Louis, Missouri for over 50 years has become the sales agent for Energy Focus for the state of Missouri and parts of southern Illinois.
Comments from management:
“Energy Focus is very excited to engage and partner with these new agencies to enter additional markets,” said Wanda Adams, Vice President of Business Development for Commercial Lighting for Energy Focus. “These agencies’ dedicated regional coverages and stellar growth records coupled with their reputation and commitment to sustainability, energy efficiency and human health make them the perfect partners for us. We look forward to developing long and mutually beneficial relationships with the teams at CW Lighting, Flex Green, and LEC to bring our growing line of leading LED, HCL and UV-C products to these new territories.”
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($6.55; $21.2M market cap) , a company that designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally, announced Q3 2020 results:
Sales of $6.0 million vs $2.9 million in the prior year
Loss per share of $0.35 vs loss per share of $0.38 in the prior year
“Overall demand remained strong and steady, and we secured significant contracts for our new generation Intellitube products. On the other hand, during the quarter, the COVID-19 pandemic continued to significantly impact facility occupancy and retrofit budgets and activities, as well as timing and reliability of supply chain logistics, resulting in our sales coming in towards the lower end of our expected range.
Despite the myriad of short-term challenges brought on by the pandemic, we are more optimistic than ever in our long-term growth prospects, led by both our EnFocusTM lighting control platform products, which continued to be well received with initial shipments beginning in the third quarter, as well as our UVCD product lines that we recently introduced in October. With the pandemic still raging across most parts of the world, and elevated and routine disinfection practices expected to become the new normal for buildings and facilities, we believe that our complementary air and surface UVCD products represent some of the most advanced, powerful and affordable disinfection solutions in the market today. We have started to receive positive and enthusiastic feedback from customers, as well as existing and new channel partners, and remain on schedule to start delivering the products in the first quarter of 2021.”
Fourth Quarter 2020 Outlook:
“While activities for our military and maritime business remain stronger than levels a year ago, and we expect fourth quarter 2020 sales to grow from fourth quarter 2019, we continue to confront significant short-term uncertainties surrounding our commercial business and logistics challenges on select components due to the ongoing pandemic. Therefore, we are suspending our quarterly sales guidance for the time being and will resume outlook forecast as these external factors become more stable and predictable.”
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($8.39; $27.1M market cap) , a company that designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally announced the launch of UV-C disinfection product portfolio offering airborne and surface disinfection solutions for commercial and residential indoor environments.
We expect that this news will attract COVID-19 focused investors.
The company will be hosting a webinar today at 1PM EST to discuss its product portfolio.
“Energy Focus, Inc. (Nasdaq: EFOI), a leader in sustainable LED lighting and human-centric lighting (“HCL”) technologies, today launches a portfolio of germicidal UV-C Disinfection (“UVCD”) products, with advanced, patent-pending technologies designed to destroy 99.9+ percent* of various pathogens, including influenza and coronaviruses such as SARS and SARS-CoV-2, in the air or on surfaces to improve indoor hygiene and sanitation. Three initial products – nUVo™, abUV™, and mUVe™ -- complement each other to meet the needs of air and surface disinfection for commercial, industrial and residential indoor environments. The products are available for pre-order on the Company’s e-commerce website, through its internal salesforce and distribution channel partners, and deliveries are expected to start during the first quarter of 2021.”
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($7.33; $23.7M market cap) , a company that designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally, announced its Q2 2020 results:
Sales of $3.3 million vs $3.1 million in the prior year
Non-GAAP loss of $0.29 vs Non-GAAP loss of $0.91
Q3 2020 revenue guidance of $6 to $7 million representing a 106%-140% year over year improvement
“Energy Focus continues to deliver solid growth, margin expansion and improved operating results, reflecting the steps we have taken to deliver innovative products, on top of our heightened focus on expense and inventory management,” stated James Tu, Executive Chairman and CEO of Energy Focus. “The second quarter was impacted, as anticipated, by the delay of a portion of a large military order, shifting approximately $1.7 million in revenue out of the second quarter and into the third quarter. We expect to recognize a significant portion of this revenue in the third quarter, resulting in third quarter revenue guidance of $6 to $7 million, representing 106% to 140% growth over the third quarter of 2019.
Longer-term, we are increasingly encouraged with the market response to our patent-pending EnFocus™ lighting platform, which enables both existing and new buildings to provide quality, accessible and affordable dimmable and color tunable circadian lighting like never before,” added Mr. Tu. “Our immediate focus is on expanding our U.S. distribution of this groundbreaking product line, and we have had interests and inquiries from multiple countries since our release in June as well, suggesting clear global demand potential for the EnFocus™ products. We have already received initial orders and expect to start shipping the EnFocus™ products during the third quarter, with the expectation that the products will start contributing more significant sales in the fourth quarter particularly if facility management budgets and retrofit project activities start to solidify and recover.”
The company will be hosting its conference call at 11:00a.m EST, we will be joining the call to see if any information arbitrage opportunities are presented.
Research
Energy Focus, Inc. (NASDAQ:EFOI) ($0.33; $3.5M market cap) , a company that designs, develops, manufactures, markets, and installs energy-efficient lighting systems and solutions in the United States and internationally had two insiders file Form 4’s showing open market purchases:
Philip Politziner, a director purchased 32,000 shares
Tod Nestor, President and CFO purchased 150,000 shares
Comments & Business Outlook
First Quarter 2013 Results
Net sales of $5.3 million for the first quarter of 2013 and 2012.
Gross margins of 22.5 percent of net sales compared to 14.8 percent of net sales for the first quarter of 2012.
A net loss of $1.4 million compared to a net loss $1.9 million in the first quarter of 2012.
James Tu, Executive Chairman, commented: "Our first quarter sales came in modestly lower than our previous guidance due to a delay in Navy orders as a result of the sequester and sales that took longer to recognize in our lighting retrofit division, Stones River Companies (SRC). However, as we have stated in a recent press release, we have been witnessing much stronger momentum in SRC's business this year, with 50% growth in contracts over the same period last year. We're also excited to announce that, despite the government sequester, our Navy business has obtained an additional $1.9 million in orders so far in the second quarter; a trend that we expect to continue, leading to substantial growth in our Navy business in 2013."
"We believe that the LED revolution has started to reach the lighting retrofit market," continued Mr. Tu. "We are particularly excited about the increasing appeal of our LED lighting solutions over fluorescent even in projects that have fewer hours of operation, such as schools. In addition, under the new leadership Energy Focus has put in place, we're embarking on a series of operational initiatives that aim to unlock our organizational potential and create shareholder value. Therefore, in spite of a slow first quarter, we do look forward to a year of strong growth."
During the first quarter of 2013, the Company embarked on a program to raise an additional $3.8 million in unsecured convertible debt, of which $1.75 million was received during the first quarter. During the second quarter, the Company expects to receive an additional $2 million. "We are grateful and pleased to have received strong investor support during the current round of financing which will enable us to meet our growing working capital needs and reach our goal to be EBITDA positive in the second half of this year," added Mr. Tu.
The Company expects sales for the second quarter of 2013 to range between $8 million and $9 million, and expects sales will continue to grow in the second half of the year.
