Revenue: As of FY2026 Q1, the actual value is USD 949 K.EPS: As of FY2026 Q1, the actual value is USD -0.02.EBIT: As of FY2026 Q1, the actual value is USD -142 K.<h4>Segment Revenue</h4><ul><li>Commercial Products: Revenue was $318 thousand for the three months ended March 31, 2026, increasing from $203 thousand for the same period in 2025, representing a $0.1 million increase due to improved sales volume, partially offset by inflationary pressures and market-adjusted pricing.</li><li>MMM Products: Revenue was $628 thousand for the three months ended March 31, 2026, compared to $413 thousand for the same period in 2025, showing a $0.2 million increase driven by improved demand compared to the prior year period.</li><li>Setup Service: Revenue was $3 thousand for the three months ended March 31, 2026, with no revenue reported for the same period in 2025.</li><li>Total Net Sales: Total net sales increased by $0.3 million, or 54%, to $949 thousand for the first quarter of 2026, from $616 thousand in the first quarter of 2025.</li></ul><h4>Operational Metrics</h4><ul><li>Gross Profit: Gross profit was $221 thousand (23.3% of net sales) for the three months ended March 31, 2026, compared to $194 thousand (31.5% of net sales) for the same period in 2025, with the change mainly driven by an increase in inventory reserves and lower variable margins.</li><li>Product Development Expenses: These expenses were $76 thousand for the first quarter of 2026, an increase of $26 thousand or 52% compared to $50 thousand in the first quarter of 2025, primarily due to higher product testing expenses.</li><li>Selling, General, and Administrative Expenses: These expenses decreased by 31% to $286 thousand for the first quarter of 2026, from $412 thousand in the first quarter of 2025, mainly due to a reduction in insurance fees of $0.1 million.</li><li>Loss from Operations: The company reported a loss from operations of - $141 thousand for the three months ended March 31, 2026, an improvement from a loss of - $268 thousand for the same period in 2025.</li><li>Net Loss: Net loss for the three months ended March 31, 2026, was - $140 thousand, a decrease of $0.2 million or 48% compared to a net loss of - $268 thousand for the same period in 2025, mainly due to lower operating expenses.</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Provided by Operating Activities: Energy Focus, Inc. generated $69 thousand in cash from operating activities for the three months ended March 31, 2026, compared to using - $272 thousand in operating activities for the same period in 2025.</li><li>Net Cash Used in Investing Activities: No cash was used in investing activities for the three months ended March 31, 2026, compared to - $5 thousand used for the same period in 2025.</li><li>Net Cash Provided by Financing Activities: No cash was provided by financing activities for the three months ended March 31, 2026, compared to $200 thousand provided for the same period in 2025, primarily from the issuance of common stock.</li><li>Cash Position: As of March 31, 2026, the cash balance was $1.1 million, which was consistent with $1.1 million as of December 31, 2025.</li></ul><h4>Unique Metrics and Concentrations</h4><ul><li>Customer Concentration (Net Sales): For the three months ended March 31, 2026, Customer A accounted for 16.3%, Customer B for 16.9%, Customer C for 15.8%, and Customer D for 14.1% of total net sales, with four customers collectively accounting for approximately 63% of net sales.</li><li>Customer Concentration (Accounts Receivable): As of March 31, 2026, Customer A accounted for 20.9%, Customer C for 23.9%, and Customer G for 14.4% of trade accounts receivable.</li><li>Supplier Concentration (Total Expenditures): For the three months ended March 31, 2026, related party Supplier C accounted for 55.6% and related parties Suppliers D and E for 21.7% of total expenditures.</li><li>Supplier Concentration (Accounts Payable): As of March 31, 2026, related party Winner Technology International Limited accounted for 80.2% and related party Sander Electronics Co Ltd for 8.8% of trade accounts payable, with related parties representing 89.0% of total accounts payable.</li><li>Inventory: Net inventories were $3,694 thousand as of March 31, 2026, up from $2,930 thousand as of December 31, 2025. Reserves for excess, obsolete, and slow-moving inventories increased to - $664 thousand as of March 31, 2026, from - $591 thousand as of December 31, 2025.</li><li>Product Warranties: Accrued warranty reserve was $62 thousand as of March 31, 2026, down from $91 thousand at the beginning of the period.</li><li>Joint Venture Investment: The company advanced $155 thousand for an investment in a joint venture in Japan as of March 31, 2026. Subsequent to March 31, 2026, an additional $380 thousand was invested, bringing the total funded to $535 thousand out of an expected $1.1 million commitment for a 35% ownership interest in an energy storage power plant in Japan.</li></ul><h4>Future Outlook and Strategy</h4>Energy Focus, Inc. is focused on expanding product offerings, including new UPS systems for data centers, and advancing energy storage systems (ESS) and Gallium Nitride (GaN) based power supplies, while leveraging its military maritime market (MMM) business. The company aims to achieve profitability by controlling assets and liabilities, diversifying revenue streams, strictly managing costs, and expanding into new markets like Japan through strategic investments and partnerships. This strategy is pursued despite ongoing liquidity concerns and a substantial accumulated deficit, with a commitment to a “Green Supply Chain,” “Green Product,” and “Green Manufacturing” approach.

Energy Focus | 10-Q: FY2026 Q1 Revenue: USD 949 K