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Energy Focus (EFOI)

Energy Focus is an industry-leading innovator of sustainable LED lighting and lighting control technologies and solutions. As the creator of the first flicker-free LED lamps, Energy Focus develops high quality LED lighting products that provide extensive energy and maintenance savings, as well as aesthetics, safety, health and sustainability benefits over conventional lighting. Its EnFocusTM lighting control platform enables existing and new buildings to provide quality, convenient and affordable, dimmable and color-tunable, circadian and human-centric lighting capabilities. Its patent-pending UVCD technologies and products, announced in October 2020, aim to provide effective, reliable and affordable UVCD solutions for buildings, facilities and homes. Energy Focus' customers include U.S. and foreign navies, U.S. federal, state and local governments, healthcare and educational institutions, as well as Fortune 500 companies. Since 2007, Energy Focus has installed approximately 900,000 lighting products across the U.S. Navy fleet, including tubular LEDs, waterline security lights, explosion-proof globes and berth lights, saving more than 5,000,000 gallons of fuel and 300,000 man-hours in lighting maintenance annually. Energy Focus is headquartered in Solon, Ohio.

Company profile

Ticker
EFOI
Exchange
Website
CEO
James Tu
Employees
Incorporated
Location
Fiscal year end
Former names
FIBERSTARS INC /CA/
SEC CIK
Subsidiaries
Energy Focus LED Solutions, LLC ...
IRS number
943021850

EFOI stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

12 May 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 225K 225K 225K 225K 225K 225K
Cash burn (monthly) 819K 55.42K 885.33K 755.33K 901K 807.08K
Cash used (since last report) 2.35M 159.28K 2.54M 2.17M 2.59M 2.32M
Cash remaining -2.13M 65.72K -2.32M -1.95M -2.36M -2.09M
Runway (months of cash) -2.6 1.2 -2.6 -2.6 -2.6 -2.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Jun 22 Cheng Jennifer Y Common Stock Option exercise Acquire M No No 0 5,000 0 22,000
22 Jun 22 Cheng Jennifer Y RSU Common Stock Option exercise Dispose M No No 0 5,000 0 0
22 Jun 22 Huang Gina Common Stock Option exercise Acquire M Yes No 0 5,000 0 381,832
22 Jun 22 Huang Gina RSU Common Stock Option exercise Dispose M No No 0 5,000 0 0
22 Jun 22 Jeffery Robert Parker Common Stock Option exercise Acquire M No No 0 10,000 0 10,000
22 Jun 22 Jeffery Robert Parker RSU Common Stock Option exercise Dispose M No No 0 10,000 0 0
22 Jun 22 Brian J Lagarto Common Stock Option exercise Acquire M No No 0 10,000 0 10,000
22 Jun 22 Brian J Lagarto RSU Common Stock Option exercise Dispose M No No 0 10,000 0 0
22 Jun 22 Politziner Philip Common Stock Option exercise Acquire M No No 0 5,000 0 31,400
22 Jun 22 Politziner Philip RSU Common Stock Option exercise Dispose M No No 0 5,000 0 0
5.8% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 15 19 -21.1%
Opened positions 2 8 -75.0%
Closed positions 6 8 -25.0%
Increased positions 4 3 +33.3%
Reduced positions 3 3
13F shares Current Prev Q Change
Total value 507K 4.43M -88.6%
Total shares 373.14K 1.04M -64.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Vanguard 85.56K $116K -36.1%
International Assets Investment Management 82.2K $112K +50.3%
Geode Capital Management 70.67K $96K +5.2%
Game Plan Financial Advisors 31K $42K -4.6%
BLK Blackrock 26.97K $37K 0.0%
TFC Truist Financial 20K $27K 0.0%
VIRT Virtu Financial 19.69K $27K -9.5%
Citadel Advisors 13.25K $18K NEW
Wedbush Securities 12K $16K 0.0%
UBS UBS Group AG - Registered Shares 7.04K $10K NEW
Largest transactions Shares Bought/sold Change
Armistice Capital 0 -625K EXIT
Vanguard 85.56K -48.43K -36.1%
International Assets Investment Management 82.2K +27.5K +50.3%
Squarepoint Ops 0 -19.55K EXIT
Two Sigma Securities 0 -16.9K EXIT
Citadel Advisors 13.25K +13.25K NEW
UBS UBS Group AG - Registered Shares 7.04K +7.04K NEW
Geode Capital Management 70.67K +3.5K +5.2%
Tower Research Capital 0 -3.06K EXIT
VIRT Virtu Financial 19.69K -2.07K -9.5%

Financial report summary

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Management Discussion
  • Net sales of $2.1 million for the first quarter of 2022 decreased $576 thousand, or 22%, compared to first quarter of 2021 net sales of $2.6 million, primarily driven by a decrease in MMM product sales, offset slightly by a $221 thousand, or 24.2%, increase in net sales of commercial products. Net MMM product sales decreased in the first quarter of 2022 compared to the same period in 2021, mainly due to availability and prioritization of government project funding and the delayed timing of expected orders. Net commercial product sales increased 24% in the first quarter of 2022 over the first quarter of 2021, reflecting the volatility of sales to large institutional customers.
  • Negative gross profit margin was $(26) thousand, or (1)% of net sales, for the first quarter of 2022. This compares with gross profit of $0.6 million, or 21% of net sales, in the first quarter of 2021. Sequentially, this compares with gross profit of $0.2 million, or 8% of net sales, in the fourth quarter of 2021. The year-over-year decrease in gross margin rate was driven by lower sales dollars resulting in less leverage of our fixed cost portion of cost of goods sold, in combination with a negative product mix impact due to product substitution and lower mix of military sales. The decrease in gross margin consists of a variable component of approximately $0.5 million, or 15% decrease to gross margin rate period over period, as well as a slightly negative fixed cost component of negligible dollar impact or a 7% decrease in margin rate period over period. Gross margin for the first quarter of 2022 included unfavorable freight-in variances of $0.2 million, or 8% of net sales, unfavorable price and usage variances for material and labor of $0.1 million, or 4% of net sales, as well as unfavorable inventory reserves of $0.1 million, or 6% of net sales. Gross margin for the first quarter of 2021 included favorable price and usage variances for material and labor of $0.2 million, or 7% of net sales, and unfavorable inventory and warranty reserves of $0.1 million or 5% of net sales.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: ASC, building, category, consecutive, Defense, Department, departure, disinfector, dollar, eldercare, estate, found, hope, intention, Investor, leverage, leveraging, negligible, permanent, powerline, prioritization, proprietary, ready, real, reinvest, release, remeasured, repeated, Sequentially, shift, show, slight, slightly, slowly, stand, sublease, substitution, tailored, traction, unable, variable, volume
Removed: abUV, acquisition, agency, agreed, assist, began, bid, bore, circadian, classified, close, Comprehensive, delivery, effected, enhanced, exempt, fractional, fundamental, HCL, hold, iii, Iliad, implemented, integrated, involving, lien, macro, marked, merger, mUVe, newly, occurred, occurrence, October, officially, opening, opposed, partially, Proportional, published, put, Ratio, recently, removed, repaid, replaced, requirement, restated, revaluation, reverse, robot, satisfy, split, subordinated, surface, tender, testing, trading, unchanged, updated, validly, win, wrote

Patents

Utility
Uv Disinfection System
21 Oct 21
According to one aspect, a system for ultraviolet (UV) disinfection may include a switch and a lamp fixture.
Utility
LED lamp utilizing optical filtering to counteract effects of color anomalous vision
14 Sep 21
A light emitting diode lamp includes a light source configured to emit light that defines a spectral power distribution curve including a first power peak and a second power peak with a first reduced power area extending therebetween.
Utility
Control Circuit for Tubular Light Emitting Diode
5 Aug 21
According to one aspect, a control circuit for a tubular light emitting diode (TLED) lamp may include an input detection circuit that detects, from an input signal, a type of control desired based on a characteristic of the input signal and generate an output signal, a digital control circuit that controls operation according to a digital lighting protocol, and an analog control circuit that controls operation according to a voltage associated with the input signal.
Utility
Tubular Led Ballast Buck-boost Converter
5 Aug 21
A buck-boost converter may include a first switch, an inductor, a first diode, a second switch, a second diode, and a capacitor.
Utility
System and Method for Providing High Power Factor Wired Lamp Control
22 Jul 21
A system and method for providing high power factor wired lamp control that include receiving a lighting control input though a switch that is associated with at least one of: an operation and a function of at least one lamp.

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