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ACORN ENERGY, INC.

CIK:0000880984|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 2,489	$ 3,525	$ 4,716	$ 6,623
COGS	439	886	881	1,658
Gross profit	2,050	2,639	3,835	4,965
Operating expenses:
Research and development (R&D) expenses	239	265	494	556
Selling, general and administrative (SG&A) expenses	1,436	1,427	3,095	2,858
Total operating expenses	1,675	1,692	3,589	3,414
Operating income	375	947	246	1,551
Interest income, net	32	27	63	51
Income before income taxes	407	974	309	1,602
Provision for income taxes	105	242	80	396
Net income	302	732	229	1,206
Non-controlling interest share of income	(8)	(12)	(12)	(22)
Net income attributable to Acorn Energy, Inc. stockholders	$ 294	$ 720	$ 217	$ 1,184
Net income per share attributable to Acorn Energy, Inc stockholders – basic and diluted
Basic	$ 0.12	$ 0.29	$ 0.09	$ 0.48
Diluted	$ 0.12	$ 0.28	$ 0.09	$ 0.47
Weighted average number of shares outstanding attributable to Acorn Energy, Inc. stockholders – basic and diluted
Basic	2,508	2,493	2,506	2,492
Diluted	2,540	2,534	2,540	2,534

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows provided by operating activities:
Net income	$ 229	$ 1,206
Depreciation and amortization	72	56
Deferred income tax expense	66	320
Decrease in the provision for credit losses	(1)
Impairment of inventory	2	4
Non-cash lease expense	115	66
Stock-based compensation	296	93
Change in operating assets and liabilities:
Increase in accounts receivable	(180)	(207)
Decrease (increase) in inventory	125	(521)
Decrease in deferred COGS	68	251
(Increase) decrease in other current assets and other assets	(24)	35
Decrease in state income tax receivable	21	10
Decrease in deferred revenue	(257)	(564)
Decrease in operating lease liability	(114)	(65)
(Decrease) increase in state income tax payable	(15)	27
(Decrease) increase in accounts payable, accrued expenses, other current liabilities and non-current liabilities	(126)	189
Net cash provided by operating activities	277	900
Cash flows used in investing activities:
Equipment, furniture and trade show booth purchases	(5)	(7)
Payment for exclusive distribution and commercialization rights	(250)
Patents		(1)
Investments in technology	(8)	(9)
Leasehold improvements		(4)
Net cash used in investing activities	(263)	(21)
Cash flows provided by financing activities:
Stock option exercise proceeds	10	48
Net cash provided by financing activities	10	48
Net increase in cash	24	927
Cash at the beginning of the period	4,454	2,326
Cash at the end of the period	4,478	3,253
Cash paid during the year for:
Income taxes	13	34
Non-cash investing and financing activities:
Right-of-use assets		1,025
Operating lease liability		1,025
Accrued preferred dividends to former CEO of OmniMetrix	$ 2	$ 2

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 4,478	$ 4,454
Accounts receivable, net	1,068	887
Inventory	1,127	1,254
Other current assets	303	267
State income tax receivable		21
Deferred cost of goods sold (COGS)	2	70
Total current assets	6,978	6,953
Property and equipment, net	338	383
Intangibles, net	253	17
Right-of-use assets, net	879	963
Other assets	107	119
Deferred tax assets	4,833	4,899
Total assets	13,388	13,334
Current liabilities:
Accounts payable	198	306
Accrued expenses	154	171
Deferred revenue	2,722	3,097
Current operating lease liabilities	168	158
Other current liabilities	45	46
State income tax payable	3	18
Total current liabilities	3,290	3,796
Long-term liabilities:
Deferred revenue	430	312
Noncurrent operating lease liabilities	791	884
Other long-term liabilities	28	26
Total liabilities	4,539	5,018
Commitments and contingencies (Note 8)
Equity:
Common stock - $0.01 par value per share: Authorized - 42,000,000 shares; issued - 2,560,709 at June 30, 2026 and 2,555,717 at December 31, 2025; outstanding - 2,509,618 at June 30, 2026 and 2,504,626 at December 31, 2025	25	25
Additional paid-in capital	103,927	103,621
Accumulated stockholders’ deficit	(92,127)	(92,344)
Treasury stock, at cost – 51,091 shares at June 30, 2026 and December 31, 2025	(3,052)	(3,052)
Total Acorn Energy, Inc. stockholders’ equity	8,773	8,250
Non-controlling interests	76	66
Total equity	8,849	8,316
Total liabilities and equity	$ 13,388	$ 13,334