Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $31.0M | $19.8M | $18.1M | $12.7M | $16.8M | $9.87M | $5.97M | $5.72M | $4.86M | $3.56M |
| Revenue growth | — | -36.0% | -8.8% | -29.8% | 32.5% | -41.4% | -39.5% | -4.2% | -15.0% | -26.7% |
| Gross profit | $7.68M | $4.82M | $3.41M | $1.97M | $5.18M | $1.70M | -$318K | $223K | $699K | $672K |
| Gross margin | 24.8% | 24.3% | 18.8% | 15.5% | 30.8% | 17.2% | -5.3% | 3.9% | 14.4% | 18.9% |
| Operating income | -$16.8M | -$11.3M | -$9.09M | -$6.96M | -$4.07M | -$8.71M | -$9.29M | -$3.97M | -$1.84M | -$1.02M |
| Operating margin | -54.3% | -56.8% | -50.2% | -54.7% | -24.2% | -88.3% | -155.7% | -69.5% | -37.9% | -28.8% |
| Net income | -$16.9M | -$11.3M | -$9.11M | -$7.37M | -$5.98M | -$7.89M | -$10.3M | -$4.29M | -$1.58M | -$1.03M |
| Net margin | -54.5% | -56.8% | -50.3% | -58.0% | -35.5% | -79.9% | -172.2% | -75.1% | -32.6% | -28.8% |
| EPS (diluted) | -$1.45 | -$0.95 | -$0.76 | -$2.99 | -$1.83 | — | — | — | -$0.32 | -$0.18 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$16.6M | -$5.87M | -$6.79M | -$6.62M | -$2.45M | -$9.77M | -$6.71M | -$2.44M | -$1.30M | -$1.40M |
| Capital expenditures | $1.62M | $162K | $57.0K | $132K | $223K | $443K | $41.0K | $69.0K | $19.0K | $54.0K |
| Free cash flow | -$18.2M | -$6.04M | -$6.85M | -$6.76M | -$2.67M | -$10.2M | -$6.75M | -$2.51M | -$1.32M | -$1.46M |
| Share buybacks | $309K | — | — | — | — | — | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $16.6M | $10.8M | $6.33M | $350K | $1.84M | $2.68M | $52.0K | $2.03M | $565K | $1.06M |
| Total assets | $35.0M | $22.2M | $18.5M | $11.7M | $12.4M | $14.4M | $8.50M | $10.2M | $5.61M | $5.11M |
| Total liabilities | $5.04M | $2.86M | $7.44M | $7.74M | $8.14M | $8.18M | $8.97M | $7.15M | $2.70M | $1.00M |
| Shareholders' equity | $29.9M | $19.3M | $11.1M | $4.00M | $4.25M | $6.21M | -$477K | $3.05M | $2.92M | $4.11M |
| Retained earnings | -$96.9M | -$108M | -$117M | -$125M | -$131M | -$139M | -$149M | -$153M | -$155M | -$156M |
| Shares (wtd avg diluted) | 11.7M | 11.8M | 12.0M | 2.46M | 3.27M | 4.56M | 1.16M | 3.24M | 4.95M | 5.55M |
Every figure is extracted from ENERGY FOCUS, INC/DE’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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