What is Energy Focus Inc's earnings per share (EPS)?

Energy Focus Inc (EFOI) reported diluted earnings per share of $-0.18 for fiscal year 2025. This represents a 43.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Energy Focus Inc Financials

EFOI

Source SEC Filings (10-K/10-Q) Updated Mar 24, 2026 Currency USD FYE March

This page shows Energy Focus Inc (EFOI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 20/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Energy Focus Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Energy Focus Inc has an operating margin of -28.8%, meaning the company retains $-29 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -37.9% the prior year.

Growth

Energy Focus Inc's revenue declined 26.7% year-over-year, from $4.9M to $3.6M. This contraction results in a growth score of 0/100.

Cash Flow

While Energy Focus Inc generated -$1.4M in operating cash flow, capex of $54K consumed most of it, leaving -$1.5M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Earnings Quality Low Quality

1.37x

For every $1 of reported earnings, Energy Focus Inc generates $1.37 in operating cash flow (-$1.4M OCF vs -$1.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-204.8x

Energy Focus Inc earns $-204.8 in operating income for every $1 of interest expense (-$1.0M vs $5K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.6M

YoY-26.7%

5Y CAGR-26.7%

10Y CAGR-25.1%

Energy Focus Inc generated $3.6M in revenue in fiscal year 2025. This represents a decrease of 26.7% from the prior year.

EBITDA

-$987K

YoY+45.3%

Energy Focus Inc's EBITDA was -$987K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 45.3% from the prior year.

Net Income

-$1.0M

YoY+35.8%

Energy Focus Inc reported -$1.0M in net income in fiscal year 2025. This represents an increase of 35.8% from the prior year.

EPS (Diluted)

$-0.18

YoY+43.8%

Energy Focus Inc earned $-0.18 per diluted share (EPS) in fiscal year 2025. This represents an increase of 43.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$1.5M

YoY-10.5%

Energy Focus Inc generated -$1.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 10.5% from the prior year.

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

YoY+19.9%

Energy Focus Inc had 6M shares outstanding in fiscal year 2025. This represents an increase of 19.9% from the prior year.

Margins & Returns

Gross Margin

18.9%

YoY+4.5pp

5Y CAGR-11.9pp

10Y CAGR-26.6pp

Energy Focus Inc's gross margin was 18.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.5 percentage points from the prior year.

Operating Margin

-28.8%

YoY+9.1pp

5Y CAGR-4.6pp

10Y CAGR-43.8pp

Energy Focus Inc's operating margin was -28.8% in fiscal year 2025, reflecting core business profitability. This is up 9.1 percentage points from the prior year.

Net Margin

-28.8%

YoY+4.1pp

5Y CAGR+6.7pp

10Y CAGR-42.5pp

Energy Focus Inc's net profit margin was -28.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.1 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

$412K

YoY-21.4%

5Y CAGR-21.9%

10Y CAGR-17.5%

Energy Focus Inc invested $412K in research and development in fiscal year 2025. This represents a decrease of 21.4% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$54K

YoY+184.2%

5Y CAGR-24.7%

10Y CAGR-31.1%

Energy Focus Inc invested $54K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 184.2% from the prior year.

EFOI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$3.6M-26.7%	$4.9M-15.0%	$5.7M-4.2%	$6.0M-39.5%	$9.9M-41.4%	$16.8M
Cost of Revenue	$2.9M-30.6%	$4.2M-24.3%	$5.5M-12.6%	$6.3M-23.0%	$8.2M-29.9%	$11.6M
Gross Profit	$672K-3.9%	$699K+213.5%	$223K+170.1%	-$318K-118.7%	$1.7M-67.3%	$5.2M
R&D Expenses	$412K-21.4%	$524K-10.7%	$587K-60.6%	$1.5M-21.2%	$1.9M+33.6%	$1.4M
SG&A Expenses	$1.3M-36.3%	$2.0M-44.1%	$3.6M-49.5%	$7.1M-16.3%	$8.5M+8.0%	$7.9M
Operating Income	-$1.0M+44.4%	-$1.8M+53.6%	-$4.0M+57.3%	-$9.3M-6.8%	-$8.7M-113.9%	-$4.1M
Interest Expense	$5K0.0%	$5K-98.7%	$380K-60.2%	$954K+20.5%	$792K+64.7%	$481K
Income Tax	$2K0.0%	$2K-33.3%	$3K-25.0%	$4K+500.0%	-$1K+80.0%	-$5K
Net Income	-$1.0M+35.8%	-$1.6M+62.7%	-$4.3M+58.2%	-$10.3M-30.3%	-$7.9M-31.9%	-$6.0M
EPS (Diluted)	$-0.18+43.8%	$-0.32+75.8%	$-1.32	$-8.88	$-1.73+5.5%	$-1.83

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$826K-27.7%	$1.1M+85.6%	$616K-51.8%	$1.3M+6.9%	$1.2M-23.0%	$1.6M+86.4%	$833K-65.2%	$2.4M
Cost of Revenue	$679K-31.8%	$996K+136.0%	$422K-58.3%	$1.0M+0.5%	$1.0M-29.4%	$1.4M+100.1%	$713K-69.2%	$2.3M
Gross Profit	$147K0.0%	$147K-24.2%	$194K-26.8%	$265K+41.0%	$188K+49.2%	$126K+5.0%	$120K+60.0%	$75K
R&D Expenses	$82K+10.8%	$74K+48.0%	$50K-58.0%	$119K-13.1%	$137K-2.1%	$140K+9.4%	$128K-11.1%	$144K
SG&A Expenses	$240K-19.2%	$297K-27.9%	$412K-5.1%	$434K-3.3%	$449K-17.3%	$543K-8.1%	$591K-15.1%	$696K
Operating Income	-$175K+21.9%	-$224K+16.4%	-$268K+6.9%	-$288K+27.6%	-$398K+28.5%	-$557K+7.0%	-$599K+21.7%	-$765K
Interest Expense	$0	$0	$0	$0	$0	$0-100.0%	$5K-96.8%	$154K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$172K+25.5%	-$231K+13.8%	-$268K+14.1%	-$312K+1.3%	-$316K+43.0%	-$554K-32.5%	-$418K+50.8%	-$849K
EPS (Diluted)	$-0.03+25.0%	$-0.04+20.0%	$-0.05	N/A	$-0.06+50.0%	$-0.12-33.3%	$-0.09	N/A

EFOI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	N/A	$5.6M-45.0%	$10.2M+20.0%	$8.5M-40.9%	$14.4M+16.1%	$12.4M
Current Assets	N/A	$5.1M-44.0%	$9.2M+26.9%	$7.2M-46.1%	$13.4M+21.2%	$11.1M
Cash & Equivalents	N/A	$565K-72.2%	$2.0M+3803.8%	$52K-98.1%	$2.7M+46.1%	$1.8M
Inventory	N/A	$3.3M-26.5%	$4.4M-18.9%	$5.5M-30.4%	$7.9M+39.4%	$5.6M
Accounts Receivable	N/A	$804K	N/A	$445K-64.1%	$1.2M-38.6%	$2.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	N/A	$2.7M-62.3%	$7.1M-20.3%	$9.0M+9.7%	$8.2M+0.5%	$8.1M
Current Liabilities	N/A	$2.4M-61.5%	$6.4M-20.1%	$7.9M-2.6%	$8.2M+7.9%	$7.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	N/A	$2.9M-4.5%	$3.1M+739.6%	-$477K-107.7%	$6.2M+45.9%	$4.3M
Retained Earnings	N/A	-$154.9M-1.0%	-$153.3M-2.9%	-$149.0M-7.4%	-$138.7M-6.0%	-$130.9M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$5.2M+8.3%	$4.8M-11.6%	$5.4M-3.3%	$5.6M-12.8%	$6.4M-9.0%	$7.1M-4.6%	$7.4M-27.3%	$10.2M
Current Assets	$4.8M+10.1%	$4.4M-12.4%	$5.0M-3.0%	$5.1M-13.3%	$5.9M-4.6%	$6.2M-4.0%	$6.5M-29.5%	$9.2M
Cash & Equivalents	$897K+79.8%	$499K+2.3%	$488K-13.6%	$565K-31.0%	$819K-25.9%	$1.1M+13.7%	$972K-52.1%	$2.0M
Inventory	$3.0M+9.4%	$2.8M-14.8%	$3.2M-0.9%	$3.3M-12.3%	$3.7M-1.8%	$3.8M-13.8%	$4.4M-0.9%	$4.4M
Accounts Receivable	$665K-30.7%	$960K+63.3%	$588K-26.9%	$804K	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.1M+3.6%	$2.0M-23.2%	$2.6M-4.2%	$2.7M-16.5%	$3.2M-9.1%	$3.6M-15.2%	$4.2M-41.4%	$7.1M
Current Liabilities	$1.9M+6.2%	$1.8M-23.6%	$2.4M-3.0%	$2.4M-16.9%	$2.9M+1.9%	$2.9M-16.6%	$3.5M-45.6%	$6.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.1M+11.7%	$2.8M-1.1%	$2.8M-2.5%	$2.9M-9.1%	$3.2M-8.9%	$3.5M+9.2%	$3.2M+5.7%	$3.1M
Retained Earnings	-$155.6M-0.1%	-$155.4M-0.1%	-$155.2M-0.2%	-$154.9M-0.2%	-$154.6M-0.2%	-$154.3M-0.4%	-$153.7M-0.3%	-$153.3M

EFOI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$1.4M-8.0%	-$1.3M+46.7%	-$2.4M+63.7%	-$6.7M+31.3%	-$9.8M-298.4%	-$2.5M
Capital Expenditures	$54K+184.2%	$19K-72.5%	$69K+68.3%	$41K-90.7%	$443K+98.7%	$223K
Free Cash Flow	-$1.5M-10.5%	-$1.3M+47.4%	-$2.5M+62.9%	-$6.8M+33.8%	-$10.2M-281.8%	-$2.7M
Investing Cash Flow	-$197K-936.8%	-$19K+72.5%	-$69K-331.3%	-$16K+96.4%	-$443K-98.7%	-$223K
Financing Cash Flow	$2.1M+1509.4%	-$149K-103.3%	$4.5M+9.4%	$4.1M-61.7%	$10.7M+157.5%	$4.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$55K+74.4%	-$215K+21.0%	-$272K-5.8%	-$257K+3.7%	-$267K+62.8%	-$718K-1137.9%	-$58K+15.9%	-$69K
Capital Expenditures	$49K	$0-100.0%	$5K	$0-100.0%	$19K	$0	$0-100.0%	$42K
Free Cash Flow	-$104K+51.6%	-$215K+22.4%	-$277K-7.8%	-$257K+10.1%	-$286K+60.2%	-$718K-1137.9%	-$58K+47.7%	-$111K
Investing Cash Flow	-$36K	$0+100.0%	-$5K	$0+100.0%	-$19K	$0	$0+100.0%	-$42K
Financing Cash Flow	$500K+150.0%	$200K0.0%	$200K	$0	$0-100.0%	$851K+185.1%	-$1.0M-322.2%	$450K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

EFOI Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	18.9%+4.5pp	14.4%+10.5pp	3.9%+9.2pp	-5.3%-22.5pp	17.2%-13.6pp	30.8%
Operating Margin	-28.8%+9.1pp	-37.9%+31.6pp	-69.5%+86.3pp	-155.8%-67.5pp	-88.3%-64.1pp	-24.2%
Net Margin	-28.8%+4.1pp	-32.9%+42.2pp	-75.1%+97.1pp	-172.2%-92.3pp	-79.9%-44.4pp	-35.5%
Return on Equity	N/A	-54.9%+85.8pp	-140.7%	N/A	-127.0%+13.5pp	-140.6%
Return on Assets	N/A	-28.5%+13.6pp	-42.1%+78.9pp	-121.0%-66.2pp	-54.8%-6.6pp	-48.3%
Current Ratio	N/A	2.11+0.7	1.45+0.5	0.91-0.7	1.65+0.2	1.47
Debt-to-Equity	N/A	0.93-1.4	2.34+21.2	-18.82-20.1	1.32-0.6	1.91
FCF Margin	-41.0%-13.8pp	-27.1%+16.7pp	-43.9%+69.3pp	-113.2%-9.7pp	-103.5%-87.6pp	-15.9%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	17.8%+4.9pp	12.9%-18.6pp	31.5%+10.8pp	20.7%+5.0pp	15.7%+7.6pp	8.1%-6.3pp	14.4%+11.3pp	3.1%
Operating Margin	-21.2%-1.6pp	-19.6%+23.9pp	-43.5%-21.0pp	-22.5%+10.7pp	-33.3%+2.6pp	-35.9%+36.0pp	-71.9%-39.9pp	-32.0%
Net Margin	-20.8%-0.6pp	-20.2%+23.3pp	-43.5%-19.1pp	-24.4%+2.0pp	-26.4%+9.3pp	-35.7%+14.5pp	-50.2%-14.7pp	-35.5%
Return on Equity	-5.5%+2.7pp	-8.2%+1.2pp	-9.4%+1.3pp	-10.7%-0.9pp	-9.8%+5.9pp	-15.7%-2.8pp	-13.0%+14.9pp	-27.8%
Return on Assets	-3.3%+1.5pp	-4.8%+0.1pp	-4.9%+0.6pp	-5.6%-0.6pp	-4.9%+2.9pp	-7.8%-2.2pp	-5.6%+2.7pp	-8.3%
Current Ratio	2.50+0.1	2.41+0.3	2.110.0	2.11+0.1	2.02-0.1	2.16+0.3	1.87+0.4	1.45
Debt-to-Equity	0.66-0.1	0.71-0.2	0.91-0.0	0.93-0.1	1.010.0	1.01-0.3	1.30-1.0	2.34
FCF Margin	-12.6%+6.2pp	-18.8%+26.2pp	-45.0%-24.9pp	-20.1%+3.8pp	-23.9%+22.3pp	-46.2%-39.3pp	-7.0%-2.3pp	-4.6%

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Frequently Asked Questions

What is Energy Focus Inc's annual revenue?

Energy Focus Inc (EFOI) reported $3.6M in total revenue for fiscal year 2025. This represents a -26.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Energy Focus Inc's revenue growing?

Energy Focus Inc (EFOI) revenue declined by 26.7% year-over-year, from $4.9M to $3.6M in fiscal year 2025.

Is Energy Focus Inc profitable?

No, Energy Focus Inc (EFOI) reported a net income of -$1.0M in fiscal year 2025, with a net profit margin of -28.8%.

What is Energy Focus Inc's EBITDA?

Energy Focus Inc (EFOI) had EBITDA of -$987K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Energy Focus Inc's gross margin?

Energy Focus Inc (EFOI) had a gross margin of 18.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Energy Focus Inc's operating margin?

Energy Focus Inc (EFOI) had an operating margin of -28.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Energy Focus Inc's net profit margin?

Energy Focus Inc (EFOI) had a net profit margin of -28.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Energy Focus Inc's free cash flow?

Energy Focus Inc (EFOI) generated -$1.5M in free cash flow during fiscal year 2025. This represents a -10.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Energy Focus Inc's operating cash flow?

Energy Focus Inc (EFOI) generated -$1.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Energy Focus Inc's capital expenditures?

Energy Focus Inc (EFOI) invested $54K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Energy Focus Inc spend on research and development?

Energy Focus Inc (EFOI) invested $412K in research and development during fiscal year 2025.

How many shares does Energy Focus Inc have outstanding?

Energy Focus Inc (EFOI) had 6M shares outstanding as of fiscal year 2025.

Are Energy Focus Inc's earnings high quality?

Energy Focus Inc (EFOI) has an earnings quality ratio of 1.37x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Energy Focus Inc cover its interest payments?

Energy Focus Inc (EFOI) has an interest coverage ratio of -204.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Energy Focus Inc?

Energy Focus Inc (EFOI) scores 20 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.