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Q2 2020 Earnings Conference Call (pdf).pdf

08-17-20_Acorn-Energy-8.13.20.pdf

Preview of Q2 2020 Earnings Conference Call (pdf)

🔗 Source: acornenergy.com

📊 Size: 167 KB

👤 Author: Denise Rocco

⬇️ Downloads: 122

Summary

Acorn Energy, Inc. reported 7% year-over-year revenue growth in Q2 2020, with a gross margin of 70% and a net loss of $33,000. The company's cash basis sales were essentially flat at $1.47 million, despite challenging business conditions due to COVID-19. The power generation segment saw a 6% increase in cash basis sales, while the Cathodic Protection segment declined by 31% due to travel restrictions and energy price volatility. The company remains focused on converting customer trials into deployments and believes its remote monitoring control services have a compelling value proposition, particularly in the current pandemic environment. Gross profit grew 13% in Q2 2020, driven by a 19% increase in high-margin recurring monitoring services revenue.

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Description

Acorn Energy, Inc. reported 7% year-over-year revenue growth in Q2 2020, with a gross margin of 70% and a net loss of $33,000.

Technical Information

File Format: PDF
File Size: 167 KB
Pages: 10
Language: EN
Author: Denise Rocco
Total Downloads: 122
Last Updated: 4 weeks ago

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