Energy Focus (EFOI) Financials

$25.9 M

Mkt cap, 23-May-2018

$4.7 M

Revenue Q1, 2018
Gross profit (Q1, 2018)816 K
Gross profit margin (Q1, 2018), %17.5%
Net income (Q1, 2018)-2.4 M
EBIT (Q1, 2018)-2.4 M
Cash, 31-Mar-201810.2 M

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

21.5 m29 m64.4 m31 m

Revenue growth, %

35%122%(52%)

Cost of goods sold

17 m19.6 m35.1 m23.3 m

Gross profit

4.6 m9.4 m29.3 m7.7 m

Gross profit Margin, %

21%32%45%25%

R&D expense

3.5 m

Operating expense total

3.5 m

EBIT

(6.8 m)(2.6 m)9.7 m(16.8 m)

EBIT margin, %

(31%)(9%)15%(54%)

Interest expense

842 k2.7 m85 k

Interest income

2 k

Pre tax profit

(6.9 m)(5.8 m)9.6 m(16.8 m)

Income tax expense

(1 k)(1 k)149 k27 k

Net Income

(2.4 m)(5.8 m)8.8 m(16.9 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

6 m4.9 m6.7 m7.9 m13.1 m16.6 m18.3 m8.4 m7.1 m8.3 m4.1 m6 m5 m4.7 m

Cost of goods sold

4.6 m3.5 m4.5 m5.3 m7.7 m9 m9.2 m5.3 m4.6 m5.2 m3.5 m4.5 m3.9 m3.8 m

Gross profit

1.4 m1.4 m2.2 m2.6 m5.4 m7.6 m9.1 m3.1 m2.5 m3.1 m561 k1.5 m1.1 m816 k

Gross profit Margin, %

24%29%32%32%41%46%50%37%35%37%14%25%23%18%

Sales and marketing expense

1.6 m

R&D expense

57 k191 k203 k232 k543 k657 k738 k804 k854 k809 k771 k763 k629 k

General and administrative expense

1.2 m

Operating expense total

2.9 m2.5 m2.7 m2.9 m4.2 m4.6 m5.4 m5.1 m6.4 m6.2 m5.1 m4.6 m2.9 m3.2 m

EBIT

(1.5 m)(1.1 m)(562 k)(322 k)1.2 m3.1 m3.7 m(2 m)(3.9 m)(3.2 m)(4.5 m)(3.1 m)(1.8 m)(2.4 m)

EBIT margin, %

(24%)(22%)(8%)(4%)9%18%20%(23%)(55%)(38%)(110%)(52%)(36%)(52%)

Interest expense

166 k2.6 m28 k23 k23 k26 k22 k1 k1 k

Pre tax profit

(1.6 m)(4.1 m)(623 k)(403 k)1.2 m3.1 m3.7 m(2 m)(3.9 m)(3.2 m)(4.5 m)(3.1 m)(1.8 m)

Income tax expense

(2 k)1 k1 k923 k(651 k)11 k11 k

Net Income

(1.7 m)(4.1 m)(622 k)(403 k)1.1 m2.1 m4.3 m(2 m)(3.9 m)(3.2 m)(4.5 m)(3.1 m)(1.8 m)(2.4 m)

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

2.9 m7.5 m34.6 m16.6 m

Inventories

9.5 m

Current Assets

10.8 m18.9 m53.2 m32.6 m

PP&E

536 k479 k2.4 m2.3 m

Total Assets

12.8 m19.5 m55.7 m35 m

Accounts Payable

3.7 m7.6 m7.3 m3.3 m

Current Liabilities

5.8 m9.6 m10.3 m4.9 m

Long-term debt

4 m

Total Liabilities

5 m

Additional Paid-in Capital

85.4 m98.1 m125.4 m126.9 m

Retained Earnings

(83 m)(88.8 m)(80.1 m)(96.9 m)

Total Equity

2.9 m9.8 m45.3 m29.9 m

Financial Leverage

4.4 x2 x1.2 x1.2 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

2 m1.6 m6.7 m8.9 m10.2 m35 m30.1 m25.4 m19.6 m15 m13.5 m11.9 m10.2 m

Inventories

3 m2.1 m2.6 m3.6 m10.8 m9.8 m8 m11.5 m14.6 m14 m8.4 m7.9 m5.6 m

Current Assets

10 m8.7 m9.9 m15.8 m23.8 m23.6 m51.2 m48.7 m46.9 m39.7 m27.4 m26.3 m23.2 m20.2 m

PP&E

1.5 m516 k531 k542 k539 k732 k812 k2.6 m3.1 m3.3 m1.8 m1.5 m1 m

Total Assets

12.9 m10.4 m11.6 m17.4 m24.4 m24.5 m52.1 m51.4 m50.1 m43.1 m29.2 m27.8 m24.5 m21.4 m

Accounts Payable

4.9 m2.5 m3.6 m5 m7.1 m4.9 m5.2 m5.9 m7.5 m3.4 m1.7 m3.2 m2.2 m3.1 m

Current Liabilities

8.5 m5 m5.9 m6.8 m10.7 m8.4 m8.3 m7.7 m9.9 m5.6 m3.7 m4.7 m3.3 m4.1 m

Long-term debt

4.3 m218 k202 k185 k70 k70 k70 k

Total Debt

4.3 m218 k202 k185 k70 k70 k70 k

Total Liabilities

12.8 m5.3 m6.1 m7 m10.9 m8.6 m8.5 m7.8 m10 m5.7 m3.8 m5.3 m3.6 m4.3 m

Additional Paid-in Capital

83.9 m91.7 m92.7 m98 m100.7 m101 m124.9 m125.6 m126.1 m126.5 m126.8 m127.1 m127.3 m127.7 m

Retained Earnings

(84.4 m)(87.1 m)(87.7 m)(88.1 m)(87.7 m)(85.6 m)(81.3 m)(82 m)(86 m)(89.1 m)(101.5 m)(104.6 m)(106.3 m)(110.6 m)

Total Equity

21 k5.1 m5.5 m10.4 m13.5 m15.9 m43.6 m43.6 m40.1 m37.4 m25.4 m22.5 m20.9 m17.1 m

Financial Leverage

612.5 x2 x2.1 x1.7 x1.8 x1.5 x1.2 x1.2 x1.2 x1.2 x1.2 x1.2 x1.2 x1.3 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(2.4 m)(5.8 m)8.8 m(16.9 m)

Depreciation and Amortization

888 k281 k266 k805 k

Accounts Receivable

4.3 m

Inventories

(5.7 m)

Accounts Payable

(4 m)

Cash From Operating Activities

(7.2 m)(1.4 m)4.4 m(16.6 m)

Purchases of PP&E

(213 k)

Cash From Investing Activities

4.6 m(121 k)(2.2 m)(1.6 m)

Cash From Financing Activities

4.3 m6.2 m26 m146 k

Interest Paid

482 k

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

(1.7 m)(4.1 m)(622 k)(403 k)1.1 m2.1 m4.3 m(2 m)(3.9 m)(9.1 m)(4.5 m)(7.6 m)(1.8 m)(2.4 m)

Depreciation and Amortization

55 k79 k151 k185 k555 k177 k348 k151 k

Accounts Receivable

4.1 m5 m5 m3.1 m2.2 m66 k

Inventories

(3.7 m)(6.8 m)(6.4 m)866 k1.8 m597 k

Accounts Payable

3.6 m5 m7.1 m4.9 m5.2 m(1.4 m)176 k(3.9 m)(1.6 m)(175 k)2.2 m1.4 m

Cash From Operating Activities

424 k2.8 m(4.2 m)(8.2 m)(13.7 m)(1.6 m)(3.1 m)(743 k)

Cash From Investing Activities

(360 k)(540 k)(311 k)(1 m)(1.5 m)(29 k)(43 k)187 k

Cash From Financing Activities

2.6 m25.9 m14 k77 k77 k30 k56 k(32 k)

Ratios

USDY, 2018

Financial Leverage

1.3 x
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