Record Revenue Growth
Second quarter revenue rose 55% year-over-year to $3.5 million, driven by an 89% increase in hardware sales and a 19% increase in monitoring revenue.
Improved Gross Margin and Operating Income
Gross margin expanded to 75% from 73% last year. Operating income increased 267% to $947,000.
Strong EPS Growth
EPS increased to $0.28, up from $0.11 in Q2 2024. Excluding non-cash tax expenses, EPS would have been $0.36.
Strategic Contract with Major US Cell Phone Provider
The contract has provided significant financial benefits, with $4.1 million recognized in revenue to date, primarily from hardware sales.
NASDAQ Uplisting
Acorn Energy successfully uplisted to the NASDAQ Capital Market, enhancing visibility and positioning the company for future growth.
Innovative Product Launches
Launched next-generation monitors, Omni for residential and OmniPro for commercial and industrial use, featuring enhanced design and functionalities.
Strong Financial Position
Achieved cash flow from operations of $900,000 and maintained a debt-free status with a quarter-end cash balance of $3.253 million, increasing to $3.428 million as of August 5, 2025.