Acorn Energy Reports 50% Revenue Growth to $6.623 Million in Latest 10-Q

Acorn Energy, Inc. reported significant financial growth in its latest 10-Q filing for the six months ending June 30, 2025, with total revenue reaching $6.623 million, a 50% increase from $4.407 million in the same period last year. The company’s gross profit also saw a substantial rise, climbing to $4.965 million, reflecting a gross margin of 75%, compared to 74% in the prior year. Net income attributable to Acorn stockholders was $1.184 million, up from $336,000 in the previous year, resulting in a basic net income per share of $0.48, compared to $0.14 in 2024.

The increase in revenue was primarily driven by a notable rise in hardware sales, which surged by 83.8% to $4.034 million, while monitoring revenue increased by 17% to $2.589 million. The company attributed this growth to the successful execution of a Material Contract with a major telecommunications provider, which involves providing monitoring hardware and services for backup generators. This contract has significantly contributed to the revenue from the Power Generation segment, which accounted for $6.247 million of total revenue, marking a 62% increase from the previous year.

Operationally, Acorn Energy has made strategic advancements, including the launch of updated product versions that allow for greater functionality and flexibility for customers. The company has also expanded its workforce, leading to increased research and development (R&D) expenses, which rose to $556,000 from $464,000 year-over-year. Selling, general, and administrative (SG&A) expenses increased by 16% to $2.858 million, reflecting higher personnel costs and commissions related to the increased sales volume.

As of June 30, 2025, Acorn reported total assets of $12.537 million, up from $10.596 million at the end of 2024, with cash reserves increasing to $3.253 million. The company’s working capital stood at $2.709 million, bolstered by a decrease in deferred revenue, which fell to $3.669 million. Looking ahead, Acorn expects continued revenue growth driven by its new product offerings and ongoing contracts, while maintaining sufficient liquidity to support its operations for at least the next twelve months. The company is also considering additional financing options to support future investments.