$EFOI

ENERGY FOCUS, INC/DE

CIK:0000924168|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - 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]
Net sales	$ 3,749	$ 1,143	$ 4,698	$ 1,759
Cost of sales	4,004	996	4,732	1,418
Gross profit (loss)	(255)	147	(34)	341
Operating expenses:
Product development	84	74	160	124
Selling, general, and administrative	529	297	815	709
Total operating expenses	613	371	975	833
Loss from operations	(868)	(224)	(1,009)	(492)
Other expenses (income):
Interest expense	5	0	5	0
Interest income	(3)	(1)	(4)	(1)
Other expenses	0	8	0	8
Loss from operations before income taxes	(870)	(231)	(1,010)	(499)
Provision for income taxes	7	0	7	0
Net loss	(877)	(231)	(1,017)	(499)
Comprehensive loss	$ (877)	$ (231)	$ (1,017)	$ (499)
Net loss per common share - basic and diluted
Net loss, basic (in dollars per share)	$ (0.14)	$ (0.04)	$ (0.16)	$ (0.09)
Net loss, diluted (in dollars per share)	$ (0.14)	$ (0.04)	$ (0.16)	$ (0.09)
Weighted average shares of common stock outstanding:
Basic (in shares)	6,327	5,379	6,317	5,323
Diluted (in shares)	6,327	5,379	6,317	5,323

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net loss	$ (877)	$ (140)	$ (231)	$ (268)	$ (1,017)	$ (499)	$ (1,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Foreign exchange loss (gain)	5		(45)		11	(45)
Loss on settlement of vendor obligations	0		8		0	8
Depreciation	8		10		16	19
Stock-based compensation	0		0		0	(4)
Provision for credit losses and sales returns	169		71		152	64
Provision for slow-moving and obsolete inventories	424		44		497	58
Provision for warranties	1		3		(28)	(30)
Changes in operating assets and liabilities:
Accounts receivable	(2,250)		(414)		(2,192)	(191)
Inventories	499		85		(338)	101
Prepayments to vendors	(678)		197		(690)	(16)
Prepaid and other assets	(63)		2		(148)	18
Accrued and other liabilities	35		26		147	21
Right of use assets and lease liabilities	(2)		(2)		(2)	(2)
Total adjustments	58		16		267	12
Net cash used in operating activities	(819)		(215)		(750)	(487)	(1,400)
Cash flows from investing activities:
Acquisitions of property and equipment	0		0		0	(5)
Advance for investment in potential joint venture	(380)		0		(380)	0
Net cash used in investing activities	(380)		0		(380)	(5)
Cash flows from financing activities:
Issuance of common stock	250		200		250	400
Proceeds from short-term borrowings	922		0		922	0
Net cash provided by financing activities	1,172		200		1,172	400
Effect of exchange rate changes on cash	(3)		26		(10)	26
Net increase (decrease) in cash	(30)		11		32	(66)
Cash, beginning of period	1,126	1,064	488	565	1,064	565	565
Cash, end of period	1,096	$ 1,126	499	$ 488	1,096	499	$ 1,064
Non-cash investing and financing activities:
Acquisition of property and equipment through accounts payable	0		34		0	39
Nonrelated Party
Changes in operating assets and liabilities:
Accounts payable	19		0		23	(63)
Related Party
Changes in operating assets and liabilities:
Accounts payable	$ 1,891		$ 31		$ 2,819	$ 74

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 1,096	$ 1,064
Trade accounts receivable, less allowances of $184 and $33, respectively	2,563	526
Inventories, net	2,771	2,930
Prepayments to vendors	693	3
Prepaid and other current assets	274	126
Total current assets	7,397	4,649
Property and equipment, net	81	97
Operating lease, right-of-use asset	143	207
Advance for investment in joint venture	522	156
Total assets	8,143	5,109
Current liabilities:
Accrued liabilities	158	56
Accrued legal and professional fees	72	44
Accrued payroll and related benefits	64	47
Accrued sales commissions	1	1
Accrued warranty reserve	63	91
Operating lease liabilities	151	139
Short-term borrowings	911	0
Total current liabilities	4,801	922
Operating lease liabilities, net of current portion	0	78
Total liabilities	4,801	1,000
STOCKHOLDERS' EQUITY
Preferred stock, par value $0.0001 per share: Authorized: 5,000,000 shares (3,300,000 designated as Series A Convertible Preferred Stock) at June 30, 2026 and December 31, 2025 Issued and outstanding: 876,447 at June 30, 2026 and December 31, 2025	0	0
Common stock, par value $0.0001 per share: Authorized: 50,000,000 shares at June 30, 2026 and December 31, 2025 Issued and outstanding: 6,369,222 at June 30, 2026 and 6,306,433 at December 31, 2025	1	1
Additional paid-in capital	160,285	160,035
Accumulated other comprehensive loss	(3)	(3)
Accumulated deficit	(156,941)	(155,924)
Total stockholders' equity	3,342	4,109
Total liabilities and stockholders' equity	8,143	5,109
Nonrelated Party
Current assets:
Trade accounts receivable, less allowances of $184 and $33, respectively	2,563	526
Current liabilities:
Accounts payable	181	158
Related Party
Current liabilities:
Accounts payable	$ 3,200	$ 386