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Energy Focus, Inc (EFOI) stock

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NASDAQ: EFOI Nasdaq Electrical Components & Equipment Next results ~November 11, 2026

C+ Fundamentals grade

Energy Focus, Inc is a US-listed company in the electrical components & equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$1.9

Revenue-to-maturity cash-flow model

Base case. Range ~$1.4–$2.5 across our lower- and higher-growth cases (25%–35% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Energy Focus, Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 0 selling1 purchase and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds9 adding, 3 cuttingOf 3 active managers that changed their stake, 3 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Energy Focus files

Where Energy Focus stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $6m, up 53.5% on a year earlier, against a decline of 16.2% a quarter earlier. That growth ranks 7 of 40 among the electrical components & equipment companies we cover. Free-cash-flow margin fell to -26.3% from -24.4% a year earlier. Operating margin widened to -23.7% from -27.8%. The diluted share count is up 13.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $1.92 a share, against a share price of $4.29.

Source: 10-Q filed August 11, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 11, 2026 (estimated)

Energy Focus, Inc's trailing-twelve-month revenue grew 53.5% year on year, with a free-cash-flow margin of -26.3%. Where it stands out: change in growth rate of +69.7pp ranks 3 of 57 electrical components & equipment companies we cover. Where it lags: days sales outstanding of 144 days ranks 43 of 50 electrical components & equipment companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 53.5% (+69.7pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 53.5% over the last 12 months, against a median of 10.6% for electrical components & equipment companies we cover.
  • Growth speeding up. The growth rate is 69.7 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 4.1 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Results due soon. Results are expected around 11 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -23.7%: costs exceed revenue.
  • Burning cash. Free cash flow was -26.3% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 13.8% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 226% and a beta of 2.8 against the S&P 500.
  • Gross margin slipping. Gross margin is down 14.2 points on a year ago.

Latest results: FY2026 Q2

Filed August 11, 2026
Earnings per share
-$0.27 against an average estimate of -$0.29: beat by 6.9%
Revenue
$4m, up 228.0% on a year earlier
Share reaction
-1.9% in the first session after the results on August 11, 2026, against -0.1% for the S&P 500

Energy Focus' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.7%
  • 1 week+8.8%
  • 1 month+37.1%
  • This year+77.5%
  • 1 year+50.7%
  • 5 years-81.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$6.5M
Operating margin
-23.7%
Net margin
-23.4%
EPS (TTM, diluted)
$-0.25

Growth

Revenue growth
+53.5%
Change in growth rate
+69.7 pts
Share count change
+13.8%

Cash

Free cash flow (TTM)
-$1.7M
FCF margin
-26.3%
Stock pay % of revenue
1.9%

Earnings

Last results
August 11, 2026
Next results (est.)
November 11, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Energy Focus, Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Energy Focus, Inc as an operating company, with every model that fits that kind of business. Cost of equity 10.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.16 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$1.9 ~$1.4–$2.5 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.1 ~$0.6–$4.8 Left out: out of range vs price (0.02x)
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$1.9 ~$1.4–$2.5 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Energy Focus, Inc with Electrical Components & Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$481.25$148.75$85.75$21.70$16.45$28.21$29.89$2.24$1.51$1.19$2.31$4.10
Market value$148m$50m$29m$7m$6m$13m$19m$3m$5m$6m$13m$25m
+ Net debt (− = net cash)−$35m−$17m−$11m−$4m$2m$462000−$513000$6m−$257000−$565000−$1m−$185000
Enterprise value$113m$33m$18m$3m$8m$14m$19m$8m$5m$5m$12m$25m
Multiples
Price / sales 2.3x1.6x1.5x0.4x0.5x0.8x2.0x0.4x0.9x1.2x3.6x3.8x
Price / earnings 16.8x———————————
Price / free cash flow 67.1x———————————
EV / EBITDA 11.4x———————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

20 /100

Weak moat

How hard Energy Focus's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -28.9% of total assets over 10 years.

  • Pricing power 0 / 20

    Gross margin has been a median 12.8%, moving by 10.6 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -45.3%; its worst year was -152.6%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 10 years, at a median -39.8% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 1404.6% over five years; stock-based pay has been a median 2.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Energy Focus, Inc: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2023 −$0.29 −$0.27 +6.9%
Jun 2023 −$0.49 −$0.42 +14.3%
Dec 2022 −$1.82 −$1.50 +17.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 11, 2026

No numeric guidance in Energy Focus, Inc's latest earnings release (filed August 11, 2026). Some companies give their outlook only on the earnings call.

Positioning

Short interest
3.0%
of tradable shares
Days to cover
6.75
at average volume
Short interest, 1 month
−22%
to October 15, 2026
Held by institutions
3%
of shares
Held by insiders
48.4%
of shares
Employees
8
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +50.7%

$2.72 on October 31, 2025 to $4.10

ThenNowEffect
Revenue (last 12 months) $4m $6m +53.5%
P/S multiple 3.4x 3.8x +11.7%
Share count 5m 6m −12.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
EFOI+6%−93%−33%−21%+94%+78%
Industry peers (median)−6%−30%−16%−7%+11%−36%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
EFOI42%25%50%42%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
EFOI−73%−93%−80%−51%−45%−60%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 100% from November 4, 2015 to September 27, 2024. Getting back needed a 60770% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.66 – $6.49
From 52-week high
−36.8%
vs 50-day average
+38.1%
vs 200-day average
+43.2%
Volatility (1 year)
226%
Beta vs S&P 500
2.75

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±5.2%
After a week
6 up, 6 down
typical move ±7.3%
After a month
7 up, 5 down
typical move ±10.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 11, 2026 −1.9% −0.1% −2.9% −8.1%
May 12, 2026 −2.2% +0.4% −4.0% −19.7%
November 12, 2025 +0.4% −1.6% −2.1% +4.7%
August 12, 2025 +3.6% +1.4% +8.3% +28.5%
May 13, 2025 0.0% +0.8% +5.2% +8.1%
November 12, 2024 0.0% −0.3% +3.9% +11.0%
August 12, 2024 +6.3% +1.7% +17.5% +7.9%
May 13, 2024 +20.4% +0.5% +9.0% +4.8%
March 22, 2024 −4.3% −0.5% −6.7% −12.8%
November 9, 2023 −14.3% +0.8% −16.3% +2.7%
August 10, 2023 −7.2% 0.0% −9.1% −1.4%
May 11, 2023 +2.2% −0.3% +2.2% −13.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Energy Focus, Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Energy Focus, Inc
$3M $4M $5M $6M $7M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $4M Revenue (TTM), FY23 Q4: $5.7M Revenue (TTM), FY24 Q1: $5.6M Revenue (TTM), FY24 Q2: $6.1M Revenue (TTM), FY24 Q3: $6M Revenue (TTM), FY24 Q4: $4.9M Revenue (TTM), FY25 Q1: $4.6M Revenue (TTM), FY25 Q2: $4.2M Revenue (TTM), FY25 Q3: $3.9M Revenue (TTM), FY25 Q4: $3.6M Revenue (TTM), FY26 Q1: $3.9M Revenue (TTM), FY26 Q2: $6.5M $6.5M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $4M
FY23 Q4 $5.7M
FY24 Q1 $5.6M
FY24 Q2 $6.1M
FY24 Q3 $6M
FY24 Q4 $4.9M
FY25 Q1 $4.6M
FY25 Q2 $4.2M
FY25 Q3 $3.9M
FY25 Q4 $3.6M
FY26 Q1 $3.9M
FY26 Q2 $6.5M
Revenue growth, TTM YoY Energy Focus, Inc
-50% 0% 50% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -48.3% Revenue growth, TTM YoY, FY23 Q4: -4.2% Revenue growth, TTM YoY, FY24 Q1: 16.2% Revenue growth, TTM YoY, FY24 Q2: 38.7% Revenue growth, TTM YoY, FY24 Q3: 49.9% Revenue growth, TTM YoY, FY24 Q4: -15.0% Revenue growth, TTM YoY, FY25 Q1: -17.4% Revenue growth, TTM YoY, FY25 Q2: -30.8% Revenue growth, TTM YoY, FY25 Q3: -35.3% Revenue growth, TTM YoY, FY25 Q4: -26.7% Revenue growth, TTM YoY, FY26 Q1: -16.2% Revenue growth, TTM YoY, FY26 Q2: 53.5% 53.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -48.3%
FY23 Q4 -4.2%
FY24 Q1 16.2%
FY24 Q2 38.7%
FY24 Q3 49.9%
FY24 Q4 -15.0%
FY25 Q1 -17.4%
FY25 Q2 -30.8%
FY25 Q3 -35.3%
FY25 Q4 -26.7%
FY26 Q1 -16.2%
FY26 Q2 53.5%
Operating margin (TTM) Energy Focus, Inc
-150% -100% -50% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -131.2% Operating margin (TTM), FY23 Q4: -69.5% Operating margin (TTM), FY24 Q1: -59.9% Operating margin (TTM), FY24 Q2: -46.2% Operating margin (TTM), FY24 Q3: -38.8% Operating margin (TTM), FY24 Q4: -37.9% Operating margin (TTM), FY25 Q1: -32.5% Operating margin (TTM), FY25 Q2: -27.8% Operating margin (TTM), FY25 Q3: -24.7% Operating margin (TTM), FY25 Q4: -28.8% Operating margin (TTM), FY26 Q1: -23.0% Operating margin (TTM), FY26 Q2: -23.7% -23.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -131.2%
FY23 Q4 -69.5%
FY24 Q1 -59.9%
FY24 Q2 -46.2%
FY24 Q3 -38.8%
FY24 Q4 -37.9%
FY25 Q1 -32.5%
FY25 Q2 -27.8%
FY25 Q3 -24.7%
FY25 Q4 -28.8%
FY26 Q1 -23.0%
FY26 Q2 -23.7%
FCF margin (TTM) Energy Focus, Inc
-80% -60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -72.0% FCF margin (TTM), FY23 Q4: -43.9% FCF margin (TTM), FY24 Q1: -24.6% FCF margin (TTM), FY24 Q2: -31.9% FCF margin (TTM), FY24 Q3: -19.6% FCF margin (TTM), FY24 Q4: -27.1% FCF margin (TTM), FY25 Q1: -33.1% FCF margin (TTM), FY25 Q2: -24.4% FCF margin (TTM), FY25 Q3: -22.0% FCF margin (TTM), FY25 Q4: -40.8% FCF margin (TTM), FY26 Q1: -28.5% FCF margin (TTM), FY26 Q2: -26.3% -26.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -72.0%
FY23 Q4 -43.9%
FY24 Q1 -24.6%
FY24 Q2 -31.9%
FY24 Q3 -19.6%
FY24 Q4 -27.1%
FY25 Q1 -33.1%
FY25 Q2 -24.4%
FY25 Q3 -22.0%
FY25 Q4 -40.8%
FY26 Q1 -28.5%
FY26 Q2 -26.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 12 35 20 23 9 23 64 31 20 18 13 17 10 6 6 5 4 6
Gross profit 2 6 4 4 2 8 29 8 5 3 2 5 2 −0 0 1 1 0
EBITDA −9 −7 −5 −5 −5 −1 10 −16 −11 −9 −7 −4 −9 −9 −4 −2 −1 −2
Operating income −10 −8 −5 −6 −6 −1 10 −17 −11 −9 −7 −4 −9 −9 −4 −2 −1 −2
Net income −11 −9 −6 −6 −2 −6 9 −17 −11 −9 −7 −6 −8 −10 −4 −2 −1 −2
Diluted EPS −$0.70 −$129.50 −$87.50 −$48.30 −$17.50 −$0.75 $0.82 −$1.45 −$0.95 −$0.76 −$2.99 −$1.83 — — — −$0.32 −$0.18 −$0.25
Growth (year on year)
Revenue — +181.3% −41.8% +14.3% −59.7% +140.9% +183.7% −51.9% −36.0% −8.8% −29.8% +32.5% −41.4% −39.5% −4.2% −15.0% −26.7% +53.5%
EBITDA — — — — — — — −261.6% — — — — — — — — — —
Operating income — — — — — — — −274.4% — — — — — — — — — —
Net income — — — — — — — −292.3% — — — — — — — — — —
Diluted EPS — — — — — — — −276.8% — — — — — — — — — —
Margins
Gross margin 16.3% 18.2% 18.7% 17.0% 22.1% 34.3% 45.5% 24.8% 24.3% 18.8% 15.5% 30.8% 17.2% −5.3% 3.9% 14.4% 18.9% 4.6%
EBITDA margin −70.4% −20.3% −22.2% −22.6% −53.4% −4.0% 15.4% −51.7% −53.4% −47.3% −52.2% −23.1% −86.4% −153.1% −68.9% −37.1% −27.7% −23.2%
Operating margin −78.3% −22.5% −25.1% −25.3% −60.0% −4.8% 15.0% −54.3% −56.8% −50.2% −54.7% −24.2% −88.3% −155.7% −69.5% −37.9% −28.8% −23.7%
Net margin −88.2% −24.2% −29.6% −24.4% −25.1% −25.7% 13.6% −54.5% −56.8% −50.3% −58.0% −35.5% −79.9% −172.2% −75.1% −32.6% −28.1% −23.4%
Free-cash-flow margin −86.0% 3.3% −14.0% −31.2% −78.4% −7.1% 3.4% −58.6% −30.4% −37.8% −53.2% −15.9% −103.5% −113.2% −43.9% −27.1% −40.8% −26.3%
Cash flow
Cash from operations −11 1 −3 −7 −7 −1 4 −17 −6 −7 −7 −2 −10 −7 −2 −1 −1 −2
Capital spending 0 0 0 0 0 0 2 2 0 0 0 0 0 0 0 0 0 0
Free cash flow −11 1 −3 −7 −7 −2 2 −18 −6 −7 −7 −3 −10 −7 −3 −1 −1 −2
Stock-based pay 1 1 0 0 0 1 1 1 1 1 1 0 0 0 0 0 0 0
Free cash flow after stock pay −11 0 −3 −7 −8 −2 1 −20 −7 −8 −7 −3 −11 −7 −3 −1 −2 −2
Balance sheet
Cash 1 4 2 1 2 7 35 17 11 6 0 2 3 0 2 1 1 1
Total debt 0 2 3 4 6 1 0 0 0 2 3 2 2 6 2 0 0 1
Net debt (negative = net cash) −1 −2 0 3 5 −6 −35 −17 −11 −4 2 0 −1 6 −0 −1 −1 −0
Diluted shares — — — — — — — — — — — — — 1m 3m 5m 6m 6m
Returned to shareholders
Buybacks — — — — — 0 0 0 — — — — — — — — — —
Total returned — — — — — 0 0 0 — — — — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $8m
Short-term assets $7mLonger-term assets $1m
What it owes, and who funded it · $8m
Short-term liabilities $5mLonger-term liabilities $0mShareholders' equity $3m
  • Short-term assets cover short-term liabilities $7m of assets due within a year against $5m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $7m short-term assets against $0 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Energy Focus, Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+13.8%
year over year
R&D spending
6.9%
of revenue
Sales & admin spending
21.4%
of revenue
Days sales outstanding
144 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electrical components & equipment
Last 12 months unless stated EFOI LASE NVX LNKS XPON POLA Median
Revenue, last 12 months $6m $6m $6m $6m $8m $5m $154m
Revenue growth, last 12 months 53.5% −11.0% −4.1% 8.5% −2.4% −61.4% 10.6%
Revenue growth, 3-year average 13.8% 20.5% — — 10.8% −36.3% 9.2%
Revenue growth, latest quarter 228.0% −30.5% — — −32.1% −62.4% 10.2%
Gross margin 4.6% −25.3% — 8.9% 15.4% −78.1% 29.3%
Operating margin −23.7% −257.8% >999% −32.0% −137.4% −191.7% −17.7%
Operating margin, 3-year average −32.6% −148.4% — — −119.0% −92.4% −32.6%
Net margin −23.4% −327.6% <−999% −33.7% −82.3% −207.9% −23.4%
Cash from operations / revenue −25.6% −144.7% −751.3% −134.1% −86.8% −48.6% −6.5%
Free-cash-flow margin −26.3% −157.2% <−999% −137.4% −86.8% −48.6% −11.0%
Free-cash-flow margin, 3-year average −27.5% −159.1% — — −95.9% −22.2% −6.8%
Stock pay / revenue 1.9% 1.0% −20.1% — 13.2% 43.9% 2.5%
Change in share count 13.8% 92.9% 37.2% 959.6% — 22.9% 10.0%

Median of all 57 companies we cover in electrical components & equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 electrical components & equipment companies
Measure Company Peer median Rank
Revenue growth Growth 53.5% 10.6% 11 of 57
Change in growth rate Growth +69.7pp +0.0pp 3 of 57
Gross margin Profitability 4.6% 29.3% 44 of 54
Operating margin Profitability -23.7% -20.0% 28 of 53
Net margin Profitability -23.4% -23.4% 29 of 57
Free-cash-flow margin Cash generation -26.3% -8.8% 34 of 56
Stock pay as % of revenue Cash generation 1.9% 2.8% 23 of 50
Change in share count Balance sheet 13.8% 10.0% 26 of 46
Days sales outstanding Balance sheet 144 days 72 days 43 of 50

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Government Products $2M 55.9% ▼ 42.7%
Pool and Commercial Products $1.5M 43.1% ▲ 10.5%
Setup Service $35,000 1.0% —
Geography
Region Revenue YoY
United States $3M ▼ 38.8%
Outside the US $593,000 ▲ 4841.7%
Taiwan $500,000 —

These categories overlap or exclude eliminations, so shares aren't shown.

From Energy Focus, Inc's 10-K filed March 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$660,800
Institutions reporting
16
Shares held vs prior quarter
▲ 74.3%
Positions opened / closed
5 / 2

Top buyers and sellers, Q2 2026: 9 institutions bought and 3 sold ; the biggest buyer was Heck Capital Advisors, LLC (+35K shares) and the biggest seller Geode Capital Management, LLC (−6,144). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Vanguard Capital Management LLC $142,996 43K 21.6% 0.0%
Heck Capital Advisors, LLC $116,481 35K 17.6% New
Renaissance Technologies LLC $110,213 33K 16.7% ▲ 224.3%
Geode Capital Management, LLC $97,188 29K 14.7% ▼ 17.3%
Vanguard Fiduciary Trust Co $65,159 20K 9.9% 0.0%
State Street Corp $45,593 14K 6.9% New
Citadel Advisors LLC $41,927 13K 6.3% New
Blackrock, Inc. $10,877 3K 1.6% 0.0%
UBS Group AG $10,745 3K 1.6% ▲ 7841.5%
Tower Research Capital LLC (TRC) $9,359 3K 1.4% ▲ 44.3%
Morgan Stanley $8,128 2K 1.2% ▲ 432.0%
Royal Bank Of Canada $1,000 0K 0.2% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Energy Focus, Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $600,001 1 trade by 1 insider, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $600,001 net buying
Insider Date Trade Shares Price Value
Huang Chiao Chieh Chief Executive Officer November 26, 2025 Buy 262,009 $2.29 $600,001

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 11, 2026 estimated from the company's past filing pattern, not announced

  • August 11, 2026
  • May 12, 2026
  • November 12, 2025
  • August 12, 2025
  • May 13, 2025
  • November 12, 2024

Recent SEC filings

Data status

When each part of this page on Energy Focus, Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Energy Focus, Inc in brief

What does Energy Focus, Inc do?
Energy Focus, Inc is a US-listed company in the electrical components & equipment industry. Its financial year ends in December.
What is Energy Focus, Inc's stock ticker?
Energy Focus, Inc trades under the ticker EFOI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Energy Focus, Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Energy Focus, Inc reported revenue of $6.5M, 53.5% higher than a year earlier, according to its SEC filings.
What is Energy Focus, Inc's free cash flow?
Energy Focus, Inc's free-cash-flow margin is -26.3% of revenue over the trailing twelve months, ranking 34 of the 56 electrical components & equipment companies we cover.
Who are Energy Focus, Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Vanguard Capital Management LLC, Heck Capital Advisors, LLC and Renaissance Technologies LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Energy Focus, Inc's market cap?
On November 2, 2026, Energy Focus, Inc's market capitalisation was about $24.7M and net debt of -$185,000. Market figures come from third-party market data and may be delayed.
Who are Energy Focus, Inc's competitors?
In our Electrical Components & Equipment peer group, the companies closest to Energy Focus, Inc are Laser Photonics Corp, Novonix Ltd, Linkers Industries Ltd, Expion Energy, Inc. and Polar Power, Inc. The side-by-side comparison below sets their revenue, margins and growth against Energy Focus, Inc's.
Are insiders buying or selling Energy Focus, Inc stock?
Over the last 12 months, Energy Focus, Inc's directors and officers reported 1 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Energy Focus, Inc's next earnings date?
Around November 11, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Energy Focus, Inc announces its own schedule.