TurnOnGreen, Inc. reported its financial results for the second quarter of 2025, revealing a revenue increase of 37% to $1.69 million, compared to $1.24 million in the same period of 2024. For the first half of 2025, revenue reached $3.28 million, a 33% increase from $2.46 million in the prior year. The company’s gross profit also improved, rising to $681,000 for the quarter and $1.41 million for the six months, reflecting increases of 20% and 25%, respectively. Despite these gains, TurnOnGreen continued to experience net losses, reporting a net loss of $651,000 for the quarter, down from $798,000 a year earlier, and a loss of $1.19 million for the first half, compared to $1.53 million in 2024.
The company’s operating expenses decreased by 7% to $1.19 million for the second quarter, primarily due to a reduction in selling and marketing expenses, which fell by 25% to $249,000. General and administrative expenses remained relatively stable, while research and development costs increased slightly. The decrease in overall operating expenses contributed to a narrower operating loss of $504,000 for the quarter, compared to $710,000 in the same period last year. However, interest expenses related to a related party increased significantly, contributing to the overall net loss.
TurnOnGreen's operational metrics indicate a strategic focus on its core markets, particularly in defense and commercial sectors, which saw increased sales of approximately $340,000 and $261,000, respectively. The company also reported a significant increase in customer advances, which rose to $626,000 from $125,000 at the end of 2024, indicating a growing demand for its products. The company’s inventory levels increased to $1.1 million, up from $890,000, reflecting its efforts to meet anticipated demand.
In terms of financial health, TurnOnGreen's total liabilities increased to $9.5 million as of June 30, 2025, compared to $8.5 million at the end of 2024. The company continues to rely on advances from its related party, Hyperscale Data, to support its operations, with related party notes and advances payable rising to $6.48 million. The company has expressed concerns regarding its ability to continue as a going concern, citing ongoing operating losses and the need for additional financing to support its working capital needs.
Looking ahead, TurnOnGreen aims to enhance its product offerings and expand its market presence, particularly in the electric vehicle charging solutions sector. The company plans to finance its future development activities primarily through equity sales and additional funding sources. Management remains optimistic about the potential for increased sales and product adoption, particularly as it continues to develop its advanced EV charging solutions and power systems for various industries. However, the company acknowledges the challenges it faces in achieving profitability and maintaining adequate liquidity.
About TurnOnGreen, Inc.
TurnOnGreen, Inc. designs and manufactures power electronic and EV charging solutions for diverse markets including defense, aerospace, medical, industrial, and e-mobility. Its core offerings include high-efficiency power systems and customizable charging stations, serving global customers through direct sales and strategic partnerships. The company emphasizes innovative, feature-rich products, flexible manufacturing, and recurring revenue models in a competitive, rapidly evolving industry focused on green energy and infrastructure development.
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