EFOI Nasdaq Electric Lighting & Wiring Equipment Financials FY2016βFY2025
Energy Focus, Inc/De had $3.6M of revenue in fiscal 2025, down 26.7% on the year before. Over five years, revenue changed β26.7% a year on average.
Last close Β· Oct 23, 2026
$2.93
11.8%Hi! I read Energy Focus, Inc/Deβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β26.7%
No. Sales fell 26.7% last year.
Does it make a profit?
β28.1%
No. It lost money last year.
Does profit turn into cash?
β40.8%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 9
Weak. It passes 3 of 9 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Energy Focus, Inc/De did it, and the next one. Share prices often move a lot on those days.
Next results
November 11, 2026
Wednesday Β· in 16 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 11, 2026 | Q2 '26 | Before the market opens | 8-K β |
| May 12, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Mar 24, 2026 | Q4 '25 | Before the market opens | 10-K β |
| Nov 12, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Aug 12, 2025 | Q2 '25 | During market hours | 8-K β |
| May 13, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Mar 25, 2025 | Q4 '24 | Before the market opens | 10-K β |
| Nov 12, 2024 | Q3 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Energy Focus, Inc/De had $3.6M of revenue in fiscal 2025, down 26.7% on the year before. Over five years, revenue changed β26.7% a year on average. Its operating margin was β28.8%, up 9.1Β pts: of every 100 in sales, about β29 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Energy Focus, Inc/De lost $1.0M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$1.5M in fiscal 2025, β40.8% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Energy Focus, Inc/De has $1.1M more cash than debt.
Cash, debt and the ratios that show how comfortably Energy Focus, Inc/De can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $2.7M | $0.1M | $2.0M | $0.6M | $1.1M |
| Debt incl. finance leases | β | $0.0M | $0.5M | $0.0M | $0.0M |
| Debt / equity | β | β | 0.1x | 0.0x | 0.0x |
| Interest coverage | β11.0x | β9.7x | β10.5x | β368.4x | β |
| Current ratio | 1.6x | 0.9x | 1.4x | 2.1x | 5.0x |
| Quick ratio | 0.7x | 0.2x | 0.7x | 0.8x | 1.9x |
| Total assets | $14.4M | $8.5M | $10.2M | $5.6M | $5.1M |
| Total liabilities | $8.2M | $9.0M | $7.1M | $2.7M | $1.0M |
| Shareholders' equity | $6.2M | β$0.5M | $3.1M | $2.9M | $4.1M |
| Net debt (β = net cash) | β | β$0.1M | β$1.6M | β$0.6M | β$1.1M |
KIRA Β· Its return on capital was β26.6%: every 100 invested in the business earned about β27 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Energy Focus, Inc/De passes 3 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 8 | 3 / 8 | 3 / 8 | 5 / 8 | 1 / 8 | 3 / 8 | 4 / 9 | 6 / 9 | 3 / 9 |
| Accruals ratio | β1.0% | β18.9% | β11.4% | β5.0% | β29.3% | 14.0% | β31.2% | β19.8% | β3.6% | 7.5% |
| Altman Z'' | β0.84 | β6.85 | β18.72 | β36.56 | β34.21 | β32.30 | β65.12 | β49.34 | β87.89 | β91.74 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $31.0M | $19.8M | $18.1M | $12.7M | $16.8M | $9.9M | $6.0M | $5.7M | $4.9M | $3.6M |
| Gross profit | $7.7M | $4.8M | $3.4M | $2.0M | $5.2M | $1.7M | β$0.3M | $0.2M | $0.7M | $0.7M |
| Research and development | $3.5M | $2.9M | $2.6M | $1.3M | $1.4M | $1.9M | $1.5M | $0.6M | $0.5M | $0.4M |
| Operating income | β$16.8M | β$11.3M | β$9.1M | β$7.0M | β$4.1M | β$8.7M | β$9.3M | β$4.0M | β$1.8M | β$1.0M |
| Interest expense | $0.0M | $0.0M | $0.0M | $0.3M | $0.5M | $0.8M | $1.0M | $0.4M | $0.0M | $0.0M |
| Pretax income | β$16.8M | β$11.4M | β$9.1M | β$7.4M | β$6.0M | β$7.9M | β$10.3M | β$4.3M | β$1.6M | β$1.0M |
| Income tax | $0.0M | β$0.1M | $0.0M | $0.0M | β$0.0M | β$0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$16.9M | β$11.3M | β$9.1M | β$7.4M | β$6.0M | β$7.9M | β$10.3M | β$4.3M | β$1.6M | β$1.0M |
| Diluted EPS | β$1.45 | β$0.95 | β$0.76 | β$2.99 | β$1.83 | β | β | β | β$0.32 | β$0.18 |
| Diluted shares | 0.01B | 0.01B | 0.01B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.01B |
| Cash flow | ||||||||||
| Cash from operations | β$16.6M | β$5.9M | β$6.8M | β$6.6M | β$2.5M | β$9.8M | β$6.7M | β$2.4M | β$1.3M | β$1.4M |
| Capital expenditure | $1.6M | $0.2M | $0.1M | $0.1M | $0.2M | $0.4M | $0.0M | $0.1M | $0.0M | $0.1M |
| Free cash flow | β$18.2M | β$6.0M | β$6.9M | β$6.8M | β$2.7M | β$10.2M | β$6.8M | β$2.5M | β$1.3M | β$1.5M |
| Depreciation and amortization | $0.8M | $0.7M | $0.5M | $0.3M | $0.2M | $0.2M | $0.2M | $0.0M | $0.0M | $0.0M |
| Stock-based compensation | $1.4M | $0.8M | $0.9M | $0.6M | $0.1M | $0.4M | $0.1M | $0.0M | $0.0M | $0.1M |
| Share buybacks | $0.3M | β | β | β | β | β | β | β | β | β |
| Dividends and buybacks | $0.3M | β | β | β | β | β | β | β | β | β |
| Balance sheet | ||||||||||
| Cash and short-term investments | $16.6M | $10.8M | $6.3M | $0.4M | $1.8M | $2.7M | $0.1M | $2.0M | $0.6M | $1.1M |
| Total debt | β | β | β | β | β | β | $0.0M | $0.5M | $0.0M | $0.0M |
| Finance lease liabilities | β | β | β | $0.0M | $0.0M | $0.0M | $0.0M | β | β | β |
| Current assets | $32.6M | $20.9M | $17.7M | $9.3M | $11.1M | $13.4M | $7.2M | $9.2M | $5.1M | $4.6M |
| Current liabilities | $4.9M | $2.6M | $7.2M | $6.5M | $7.6M | $8.2M | $7.9M | $6.4M | $2.4M | $0.9M |
| Inventory | $9.5M | $5.7M | $8.1M | $6.2M | $5.6M | $7.9M | $5.5M | $4.4M | $3.3M | $2.9M |
| Property and equipment, net | $2.3M | $1.1M | $0.6M | $0.4M | $0.4M | β | β | β | β | β |
| Intangible assets | β | β | β | $0.8M | β | β | β | β | β | β |
| Total assets | $35.0M | $22.2M | $18.5M | $11.7M | $12.4M | $14.4M | $8.5M | $10.2M | $5.6M | $5.1M |
| Total liabilities | $5.0M | $2.9M | $7.4M | $7.7M | $8.1M | $8.2M | $9.0M | $7.1M | $2.7M | $1.0M |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $29.9M | $19.3M | $11.1M | $4.0M | $4.3M | $6.2M | β$0.5M | $3.1M | $2.9M | $4.1M |
| Margins | ||||||||||
| Gross margin | 24.8% | 24.3% | 18.8% | 15.5% | 30.8% | 17.2% | β5.3% | 3.9% | 14.4% | 18.9% |
| Operating margin | β54.3% | β56.8% | β50.2% | β54.7% | β24.2% | β88.3% | β155.7% | β69.5% | β37.9% | β28.8% |
| EBITDA margin | β51.7% | β53.4% | β47.3% | β52.2% | β23.1% | β86.4% | β153.1% | β68.9% | β37.1% | β27.7% |
| Net margin | β54.5% | β56.8% | β50.3% | β58.0% | β35.5% | β79.9% | β172.2% | β75.1% | β32.6% | β28.1% |
| FCF margin | β58.6% | β30.4% | β37.8% | β53.2% | β15.9% | β103.5% | β113.2% | β43.9% | β27.1% | β40.8% |
| Returns | ||||||||||
| Return on capital | β | β | β | β | β | β | β | β213.3% | β61.9% | β26.6% |
| Return on capital employed | β56.0% | β57.8% | β80.7% | β133.8% | β84.1% | β139.6% | β1,683.9% | β103.2% | β58.1% | β24.5% |
| Return on equity | β56.4% | β45.8% | β60.1% | β98.0% | β145.0% | β150.7% | β358.7% | β333.6% | β53.0% | β28.5% |
| Return on assets | β48.3% | β39.4% | β44.8% | β48.8% | β49.6% | β58.9% | β89.8% | β45.9% | β20.0% | β18.7% |
| Return on tangible equity | β56.4% | β58.4% | β82.4% | β231.9% | β140.6% | β127.0% | β | β140.7% | β54.3% | β24.3% |
| Growth | ||||||||||
| Revenue growth | β | β36.0% | β8.8% | β29.8% | 32.5% | β41.4% | β39.5% | β4.2% | β15.0% | β26.7% |
| Share count change | β | 1.1% | 1.6% | β79.5% | 32.8% | 39.5% | β74.6% | 179.9% | 52.6% | 12.2% |
| Financial health | ||||||||||
| Debt / equity | β | β | β | β | β | β | β | 0.1x | 0.0x | 0.0x |
| Interest coverage | β | β5,640.5x | β1,135.6x | β21.9x | β8.5x | β11.0x | β9.7x | β10.5x | β368.4x | β |
| Current ratio | 6.6x | 8.0x | 2.4x | 1.4x | 1.5x | 1.6x | 0.9x | 1.4x | 2.1x | 5.0x |
| Quick ratio | 4.7x | 5.8x | 1.3x | 0.5x | 0.7x | 0.7x | 0.2x | 0.7x | 0.8x | 1.9x |
| Capital allocation | ||||||||||
| Capex / revenue | 5.2% | 0.8% | 0.3% | 1.0% | 1.3% | 4.5% | 0.7% | 1.2% | 0.4% | 1.5% |
| Stock comp / revenue | 4.4% | 4.1% | 5.0% | 4.8% | 0.8% | 4.3% | 2.0% | 0.8% | 0.1% | 3.4% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 3.0 | 3.0 | 5.0 | 1.0 | 3.0 | 4.0 | 6.0 | 3.0 |
| Altman Z'' | β0.8 | β6.9 | β18.7 | β36.6 | β34.2 | β32.3 | β65.1 | β49.3 | β87.9 | β91.7 |
| Accruals ratio | β1.0% | β18.9% | β11.4% | β5.0% | β29.3% | 14.0% | β31.2% | β19.8% | β3.6% | 7.5% |
Source: SEC EDGAR XBRL filings (CIK 0000924168). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
