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. (EFOI) Financials

EFOI

Trailing 12 months to June 30, 2026

Revenue $6.5M +53.5% YoY

Net Income -$1.5M -36.9% YoY

EPS (Diluted) -$0.25 -25.0% YoY

Free Cash Flow -$1.7M -65.9% YoY

Market Cap $17.9M as of Sep 12, 2026

Price / Sales 2.8x on $6.5M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 5.4x on $3.3M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 11, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EFOI SEC filings page.

Energy Focus, Inc. (EFOI) reported $6.5M in revenue over the twelve months to Jun 30, 2026, up 53.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI EFOI FY2025 2026-08-30

Revenue contraction now coexists with margin repair, but the business still relies on financing to fund operations.

As revenue contracted through FY2025, gross margin expanded from FY2023's 3.9% to 18.9%, indicating that margin repair—not volume growth—has been the main operating change. FY2025's $1.0M net loss remained close to operating cash use of $1.4M, so earnings and cash economics broadly agree rather than being separated by a large non-cash gap.

The balance sheet became less liability-heavy: total liabilities fell from $7.1M in FY2023 to $1.0M in FY2025, while the current ratio reached 5.0x. This is a structural liquidity improvement, not simply a consequence of higher sales, because revenue was still contracting.

FY2025 financing cash flow of $2.1M exceeded the $1.4M used by operations, meaning the improved balance-sheet posture was externally supported while the core business remained cash-consuming. The reported liquidity comparison was 9.1 months of the latest annual operating outflow; that is a period-end comparison, not a forecast.

Financial Health Signals

Financial Health Score 40/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. 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.

Cash Runway

Energy Focus, Inc. held $1.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $1.4M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Energy Focus, Inc. scores 28/100 among other emerging companies.

Dilution

Energy Focus, Inc. had 6M shares outstanding at the end of fiscal year 2025, against 5M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Energy Focus, Inc. scores 35/100 among other emerging companies.

R&D Intensity

Energy Focus, Inc. spent $412K on research and development in fiscal year 2025, which was 9.0% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Energy Focus, Inc. scores 34/100 among other emerging companies.

Revenue Progress

Energy Focus, Inc. reported revenue of $3.6M in fiscal year 2025, against $4.9M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Energy Focus, Inc. scores 18/100 among other emerging companies.

Burn Trend

Energy Focus, Inc.'s operations used $1.4M of cash in fiscal year 2025, against $1.3M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Energy Focus, Inc. scores 67/100 among other emerging companies.

Balance Sheet

Energy Focus, Inc.'s cash, cash equivalents and investments came to $1.1M at the end of fiscal year 2025, against $1.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Energy Focus, Inc. scores 60/100 among other emerging companies.

Altman Z-Score Distress

-31.08

Energy Focus, Inc. scores -31.08, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($17.9M) relative to total liabilities ($1.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/8

Energy Focus, Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Energy Focus, Inc. reported a net loss of $1.0M while operations used $1.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$3.7M

YoY+228.0%

QoQ+295.0%

5Y CAGR+12.6%

10Y CAGR-6.2%

Energy Focus, Inc. generated $3.7M in revenue in Q2 2026. This represents an increase of 228.0% from the same quarter a year earlier. Against the prior quarter it is up 295.0%.

EBITDA

-$860K

YoY-301.9%

QoQ-546.6%

Energy Focus, Inc.'s EBITDA was -$860K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 301.9% from the same quarter a year earlier. Against the prior quarter it is down 546.6%.

Net Income

-$877K

YoY-279.7%

QoQ-526.4%

Energy Focus, Inc. reported -$877K in net income in Q2 2026. This represents a decrease of 279.7% from the same quarter a year earlier. Against the prior quarter it is down 526.4%.

EPS (Diluted)

-$0.14

YoY-250.0%

QoQ-600.0%

Energy Focus, Inc. earned -$0.14 per diluted share (EPS) in Q2 2026. This represents a decrease of 250.0% from the same quarter a year earlier. Against the prior quarter it is down 600.0%.

Cash & Balance Sheet

Free Cash Flow

-$819K

YoY-280.9%

QoQ-1287.0%

Energy Focus, Inc. recorded an outflow of $819K in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 280.9% from the same quarter a year earlier. Against the prior quarter it is down 1287.0%.

Cash & Debt

$1.1M

YoY+119.6%

QoQ-2.7%

5Y CAGR-3.8%

10Y CAGR-26.9%

Energy Focus, Inc. held $1.1M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

YoY+16.3%

QoQ+1.0%

5Y CAGR+4.6%

10Y CAGR-5.9%

Energy Focus, Inc. had 6M shares outstanding in Q2 2026. This represents an increase of 16.3% from the same quarter a year earlier. Against the prior quarter it is up 1.0%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

-6.8%

YoY-19.7pp

QoQ-30.1pp

5Y change-25.8pp

10Y change-42.2pp

Energy Focus, Inc.'s gross margin was -6.8% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 19.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 30.1 percentage points.

Operating Margin

-23.2%

YoY-3.6pp

QoQ-8.3pp

Energy Focus, Inc.'s operating margin was -23.2% in Q2 2026, reflecting core business profitability. This is down 3.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.3 percentage points.

Net Margin

-23.4%

YoY-3.2pp

QoQ-8.6pp

10Y change+31.6pp

Energy Focus, Inc.'s net profit margin was -23.4% in Q2 2026, showing the share of revenue converted to profit. This is down 3.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.6 percentage points.

Return on Equity

-26.2%

YoY-18.0pp

QoQ-22.7pp

Energy Focus, Inc.'s ROE was -26.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 18.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 22.7 percentage points.

Capital Allocation

R&D Spending

$84K

YoY+13.5%

QoQ+10.5%

Energy Focus, Inc. invested $84K in research and development in Q2 2026. This represents an increase of 13.5% from the same quarter a year earlier. Against the prior quarter it is up 10.5%.

Capital Expenditures

Energy Focus, Inc. reported no capital expenditure in Q2 2026.

Share Buybacks

Not reported for Q2 2026.

EFOI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EFOI quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$6.5M	$3.6M-26.7%	$4.9M-15.0%	$5.7M-4.2%	$6.0M-39.5%	$9.9M-41.4%	$16.8M+32.5%	$12.7M-29.8%	$18.1M-8.8%	$19.8M-36.0%	$31.0M-51.9%	$64.4M+183.7%	$22.7M+140.9%	$9.4M-59.7%	$23.4M+14.3%	$20.5M
Cost of Revenue	$6.2M	$2.9M-30.6%	$4.2M-24.3%	$5.5M-12.6%	$6.3M-23.0%	$8.2M-29.9%	$11.6M+8.5%	$10.7M-27.0%	$14.7M-2.2%	$15.0M-35.6%	$23.3M-33.6%	$35.1M+135.3%	$14.9M+103.2%	$7.3M-62.1%	$19.4M+16.7%	$16.6M
Gross Profit	$297K	$672K-3.9%	$699K+213.5%	$223K+170.1%	-$318K-118.7%	$1.7M-67.3%	$5.2M+162.7%	$2.0M-42.1%	$3.4M-29.2%	$4.8M-37.2%	$7.7M-73.8%	$29.3M+276.6%	$7.8M+274.3%	$2.1M-47.7%	$4.0M+3.8%	$3.8M
R&D Expenses	$448K	$412K-21.4%	$524K-10.7%	$587K-60.6%	$1.5M-21.2%	$1.9M+33.6%	$1.4M+10.2%	$1.3M-50.6%	$2.6M-11.7%	$2.9M-16.9%	$3.5M+25.9%	$2.8M+172.8%	$1.0M+73.1%	$595K+61.7%	$368K-28.5%	-$515K
SG&A Expenses	$1.4M	$1.3M-36.3%	$2.0M-44.1%	$3.6M-49.5%	$7.1M-16.3%	$8.5M+8.0%	$7.9M+6.1%	$7.4M-23.9%	$9.8M-13.5%	$11.3M-43.7%	$20.1M+19.5%	$16.8M+114.7%	$7.8M+21.8%	$6.4M-28.1%	$8.9M+78.7%	$5.0M
Operating Income	-$1.5M	-$1.0M+44.4%	-$1.8M+53.6%	-$4.0M+57.3%	-$9.3M-6.8%	-$8.7M-113.9%	-$4.1M+41.5%	-$7.0M+23.4%	-$9.1M+19.5%	-$11.3M+33.0%	-$16.8M-274.4%	$9.7M+984.7%	-$1.1M+80.7%	-$5.7M+4.4%	-$5.9M-15.0%	-$5.1M
EBITDA	N/A	-$987K+45.3%	-$1.8M+54.2%	-$3.9M+56.9%	-$9.1M-7.2%	-$8.5M-119.2%	-$3.9M+41.4%	-$6.6M+22.6%	-$8.6M+19.2%	-$10.6M+33.9%	-$16.0M-261.6%	$9.9M+1193.5%	-$907K+82.0%	-$5.0M-3.7%	-$4.9M-24.4%	-$3.9M
Interest Expense	N/A	$0-100.0%	$5K-98.7%	$380K-60.2%	$954K+20.5%	$792K+64.7%	$481K+51.7%	$317K+3862.5%	$8K+300.0%	$2K	$0-100.0%	$85K-96.8%	$2.7M+220.1%	$840K+64.4%	$511K-40.7%	$861K
Income Tax	N/A	$0	$0-100.0%	$3K-25.0%	$4K+500.0%	-$1K+80.0%	-$5K-150.0%	$10K-9.1%	$11K+109.6%	-$115K-525.9%	$27K-81.9%	$149K	$0	$0	N/A	-$2K
Net Income	-$1.5M	-$1.0M+36.8%	-$1.6M+63.1%	-$4.3M+58.2%	-$10.3M-30.3%	-$7.9M-31.9%	-$6.0M+18.9%	-$7.4M+19.1%	-$9.1M+19.1%	-$11.3M+33.3%	-$16.9M-292.3%	$8.8M+250.2%	-$5.8M-147.6%	-$2.4M+58.6%	-$5.7M+5.7%	-$6.1M
EPS (Basic)	N/A	-$0.18+43.8%	-$0.32+75.8%	-$1.32+85.1%	-$8.88-413.3%	-$1.73+5.5%	-$1.83	N/A	N/A	-$0.95+34.5%	-$1.45-272.6%	$0.84+212.0%	-$0.75-50.0%	-$0.50	N/A	N/A
EPS (Diluted)	-$0.25	-$0.18+43.8%	-$0.32	-$1.32	-$8.88	-$1.73+5.5%	-$1.83	N/A	N/A	-$0.95+34.5%	-$1.45-276.8%	$0.82+209.3%	-$0.75	-$0.50+63.8%	-$1.38	N/A
Diluted Shares (Avg)	N/A	6M+12.2%	5M	3M	1M	5M+39.5%	3M	N/A	12M+1.6%	12M+1.1%	12M+8.6%	11M+37.6%	8M	5M	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$3.7M+228.0%	$949K+54.1%	$975K-23.7%	$826K-30.9%	$1.1M-26.4%	$616K-26.1%	$1.3M-46.6%	$1.2M-10.7%
Cost of Revenue	$4.0M+302.0%	$728K+72.5%	$791K-21.9%	$679K-32.6%	$996K-30.2%	$422K-40.8%	$1.0M-56.3%	$1.0M-27.3%
Gross Profit	-$255K-273.5%	$221K+13.9%	$184K-30.6%	$147K-21.8%	$147K+16.7%	$194K+61.7%	$265K+253.3%	$188K+491.7%
R&D Expenses	$84K+13.5%	$76K+52.0%	$206K+73.1%	$82K-40.1%	$74K-47.1%	$50K-60.9%	$119K-17.4%	$137K-3.5%
SG&A Expenses	$529K+78.1%	$286K-30.6%	$335K-22.8%	$240K-46.5%	$297K-45.3%	$412K-30.3%	$434K-37.6%	$449K-37.0%
Operating Income	-$868K-287.5%	-$141K+47.4%	-$357K-24.0%	-$175K+56.0%	-$224K+59.8%	-$268K+55.3%	-$288K+62.4%	-$398K+55.9%
EBITDA	-$860K-301.9%	-$133K+48.6%	-$348K-24.7%	-$166K+57.3%	-$214K+60.8%	-$259K+56.2%	-$279K+63.1%	-$389K+56.5%
Interest Expense	$5K	N/A	$0	$0	$0	$0-100.0%	$0-100.0%	$0-100.0%
Income Tax	$7K	N/A	N/A	N/A	$0	N/A	N/A	N/A
Net Income	-$877K-279.7%	-$140K+47.8%	-$329K-11.9%	-$172K+45.6%	-$231K+58.3%	-$268K+35.9%	-$294K+65.4%	-$316K+66.5%
EPS (Basic)	-$0.14-250.0%	-$0.02+60.0%	-$0.06-20.0%	-$0.03+50.0%	-$0.04+66.7%	-$0.05+44.4%	-$0.05+58.3%	-$0.06+77.8%
EPS (Diluted)	-$0.14-250.0%	-$0.02+60.0%	-$0.06-20.0%	-$0.03+50.0%	-$0.04+66.7%	-$0.05+44.4%	-$0.05+58.3%	-$0.06
Diluted Shares (Avg)	6M+17.6%	6M+18.6%	N/A	6M+6.6%	5M+12.4%	5M+18.8%	N/A	5M

EFOI Balance Sheet

EFOI quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$5.1M-9.0%	$5.6M-45.0%	$10.2M+20.0%	$8.5M-40.9%	$14.4M+16.1%	$12.4M+5.6%	$11.7M-36.5%	$18.5M-16.5%	$22.2M-36.7%	$35.0M-37.2%	$55.7M+185.7%	$19.5M+52.2%	$12.8M-10.8%	$14.4M+4.2%	$13.8M
Current Assets	$4.6M-9.6%	$5.1M-44.0%	$9.2M+26.9%	$7.2M-46.1%	$13.4M+21.2%	$11.1M+18.7%	$9.3M-47.2%	$17.7M-15.3%	$20.9M-35.9%	$32.6M-38.7%	$53.2M+181.2%	$18.9M+75.6%	$10.8M-0.5%	$10.8M+22.6%	$8.8M
Cash & Equivalents	$1.1M+88.3%	$565K-72.2%	$2.0M+3803.8%	$52K-98.1%	$2.7M+46.1%	$1.8M+424.6%	$350K-94.5%	$6.3M-41.1%	$10.8M-35.2%	$16.6M-52.1%	$34.6M+365.9%	$7.4M+293.4%	$1.9M+139.8%	$788K-63.1%	$2.1M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$2.9M-10.2%	$3.3M-26.5%	$4.4M-18.9%	$5.5M-30.4%	$7.9M+39.4%	$5.6M-8.5%	$6.2M-23.5%	$8.1M+40.9%	$5.7M-39.6%	$9.5M+22.5%	$7.7M+12.6%	$6.9M+173.7%	$2.5M-2.8%	$2.6M+6.3%	$2.4M
Accounts Receivable	$526K-34.6%	$804K	N/A	$445K-64.1%	$1.2M-38.6%	$2.0M-13.5%	$2.3M+6.2%	$2.2M-38.8%	$3.6M-36.3%	$5.6M-44.2%	$10.1M+280.6%	$2.7M-20.7%	$3.3M-37.1%	$5.3M+94.3%	$2.7M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$672K
Total Liabilities	$1.0M-62.9%	$2.7M-62.3%	$7.1M-20.3%	$9.0M+9.7%	$8.2M+0.5%	$8.1M+5.2%	$7.7M+4.1%	$7.4M+160.2%	$2.9M-43.3%	$5.0M-51.5%	$10.4M+6.8%	$9.7M-1.6%	$9.9M-26.9%	$13.5M+9.9%	$12.3M
Current Liabilities	$922K-62.3%	$2.4M-61.5%	$6.4M-20.1%	$7.9M-2.6%	$8.2M+7.9%	$7.6M+15.5%	$6.5M-9.6%	$7.2M+175.6%	$2.6M-46.7%	$4.9M-52.1%	$10.3M+7.3%	$9.6M+65.1%	$5.8M-50.3%	$11.7M+9.1%	$10.7M
Non-Current Liabilities	$78K-69.3%	$254K-68.2%	$798K-22.4%	$1.0M+3857.7%	$26K-95.6%	$585K-51.3%	$1.2M+500.5%	$200K-13.8%	$232K+116.8%	$107K+39.0%	$77K-33.6%	$116K-97.1%	$4.1M+123.0%	$1.8M+15.5%	$1.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$70K-98.3%	$4.0M+123.7%	$1.8M+87.7%	$955K
Total Equity	$4.1M+41.0%	$2.9M-4.5%	$3.1M+739.6%	-$477K-107.7%	$6.2M+45.9%	$4.3M+6.5%	$4.0M-63.8%	$11.1M-42.7%	$19.3M-35.6%	$29.9M-33.9%	$45.3M+363.7%	$9.8M+234.2%	$2.9M+254.4%	$825K-43.8%	$1.5M
Retained Earnings	-$155.9M-0.7%	-$154.9M-1.0%	-$153.3M-2.9%	-$149.0M-7.4%	-$138.7M-6.0%	-$130.9M-4.8%	-$124.9M-6.4%	-$117.3M-8.4%	-$108.2M-11.6%	-$96.9M-21.1%	-$80.0M+9.9%	-$88.8M-7.0%	-$83.0M-2.9%	-$80.6M-7.6%	-$74.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$8.1M+69.7%	$6.0M+9.7%	$5.1M-9.0%	$5.2M-19.3%	$4.8M-32.2%	$5.4M-26.8%	$5.6M-45.0%	$6.4M-31.5%
Current Assets	$7.4M+69.2%	$5.5M+10.8%	$4.6M-9.6%	$4.8M-18.8%	$4.4M-29.7%	$5.0M-23.0%	$5.1M-44.0%	$5.9M-29.0%
Cash & Equivalents	$1.1M+119.6%	$1.1M+130.7%	$1.1M+88.3%	$897K+9.5%	$499K-54.8%	$488K-49.8%	$565K-72.2%	$819K-51.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$2.8M+0.7%	$3.7M+14.3%	$2.9M-10.2%	$3.0M-19.1%	$2.8M-27.4%	$3.2M-26.5%	$3.3M-26.5%	$3.7M-24.1%
Accounts Receivable	$2.6M+167.0%	$487K-17.2%	$526K-34.6%	$665K	$960K	$588K	$804K	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$4.8M+141.7%	$2.0M-23.3%	$1.0M-62.9%	$2.1M-36.3%	$2.0M-44.1%	$2.6M-38.3%	$2.7M-62.3%	$3.2M-41.4%
Current Liabilities	$4.8M+165.2%	$1.9M-18.0%	$922K-62.3%	$1.9M-34.6%	$1.8M-37.2%	$2.4M-31.5%	$2.4M-61.5%	$2.9M-36.8%
Non-Current Liabilities	$0-100.0%	$40K-81.5%	$78K-69.3%	$134K-54.0%	$176K-73.7%	$216K-70.6%	$254K-68.2%	$291K-66.0%
Total Equity	$3.3M+18.8%	$4.0M+39.6%	$4.1M+41.0%	$3.1M-2.1%	$2.8M-20.2%	$2.8M-11.8%	$2.9M-4.5%	$3.2M-17.6%
Retained Earnings	-$156.9M-1.0%	-$156.1M-0.6%	-$155.9M-0.7%	-$155.6M-0.6%	-$155.4M-0.7%	-$155.2M-0.9%	-$154.9M-1.0%	-$154.6M-1.4%

Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.

EFOI Cash Flow Statement

EFOI quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$1.7M	-$1.4M-7.9%	-$1.3M+46.8%	-$2.4M+63.7%	-$6.7M+31.3%	-$9.8M-298.4%	-$2.5M+63.0%	-$6.6M+2.5%	-$6.8M-15.7%	-$5.9M+64.5%	-$16.6M-472.3%	$4.4M+412.0%	-$1.4M+80.2%	-$7.2M-3.6%	-$7.0M-166.2%	-$2.6M
Depreciation & Amortization	N/A	$37K0.0%	$37K+12.1%	$33K-79.2%	$159K-15.4%	$188K+2.2%	$184K-43.6%	$326K-37.5%	$522K-23.3%	$681K-15.4%	$805K+202.6%	$266K+44.6%	$184K-70.1%	$615K-41.8%	$1.1M-14.7%	$1.2M
Stock-Based Compensation	N/A	$121K+2925.0%	$4K-90.9%	$44K-62.4%	$117K-72.7%	$429K+227.5%	$131K-78.7%	$616K-32.2%	$908K+12.5%	$807K-40.7%	$1.4M+67.3%	$813K+52.8%	$532K+164.7%	$201K+0.5%	$200K-53.1%	$426K
Capital Expenditures	$49K	$54K+184.2%	$19K-72.5%	$69K+68.3%	$41K-90.7%	$443K+98.7%	$223K+68.9%	$132K+131.6%	$57K-64.8%	$162K-90.0%	$1.6M-27.6%	$2.2M+1055.7%	$194K+11.5%	$174K-47.6%	$332K+29.7%	$256K
Free Cash Flow	-$1.7M	-$1.5M-10.5%	-$1.3M+47.5%	-$2.5M+62.9%	-$6.8M+33.8%	-$10.2M-281.8%	-$2.7M+60.4%	-$6.8M+1.4%	-$6.9M-13.5%	-$6.0M+66.8%	-$18.2M-924.7%	$2.2M+236.1%	-$1.6M+78.1%	-$7.4M-1.2%	-$7.3M-154.0%	-$2.9M
Investing Cash Flow	-$572K	-$197K-936.8%	-$19K+72.5%	-$69K-331.3%	-$16K+96.4%	-$443K-98.7%	-$223K-72.9%	-$129K-168.3%	$189K+390.8%	-$65K	N/A	N/A	-$121K-102.6%	$4.6M+1499.1%	-$329K-38.8%	-$237K
Financing Cash Flow	$2.9M	$2.1M+1509.4%	-$149K-103.3%	$4.5M+9.4%	$4.1M-61.7%	$10.7M+157.5%	$4.2M+280.3%	$1.1M-49.9%	$2.2M+2597.5%	$81K-44.5%	$146K-99.4%	$26.0M+316.0%	$6.2M+45.9%	$4.3M-32.4%	$6.3M+623.3%	$875K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$309K	$0	$0	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$819K-280.9%	$69K+125.4%	-$858K-237.8%	-$55K+79.4%	-$215K+70.1%	-$272K-369.0%	-$254K-268.1%	-$267K+74.2%
Depreciation & Amortization	$8K-20.0%	$8K-11.1%	$9K0.0%	$9K0.0%	$10K-9.1%	$9K+12.5%	$9K0.0%	$9K+12.5%
Stock-Based Compensation	$0	$0+100.0%	N/A	$0-100.0%	$0	-$4K-500.0%	N/A	$1K+107.7%
Capital Expenditures	$0	$0-100.0%	$0	$49K+157.9%	$0	$5K	$0-100.0%	$19K-29.6%
Free Cash Flow	-$819K-280.9%	$69K+124.9%	-$858K-237.8%	-$104K+63.6%	-$215K+70.1%	-$277K-377.6%	-$254K-128.8%	-$286K+73.1%
Investing Cash Flow	-$380K	$0+100.0%	-$156K	-$36K-89.5%	$0	-$5K	$0+100.0%	-$19K+29.6%
Financing Cash Flow	$1.2M+486.0%	$0-100.0%	$1.2M	$500K	$200K-76.5%	$200K+120.0%	$0-100.0%	$0-100.0%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

EFOI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EFOI quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	18.9%+4.5pp	14.4%+10.5pp	3.9%+9.2pp	-5.3%-22.5pp	17.2%-13.6pp	30.8%+15.3pp	15.5%-3.3pp	18.8%-5.4pp	24.3%-0.5pp	24.8%-20.7pp	45.5%+11.2pp	34.3%+12.2pp	22.1%+5.1pp	17.0%-1.7pp	18.7%
Operating Margin	-28.8%+9.1pp	-37.9%+31.6pp	-69.5%	-155.8%	-88.3%-64.1pp	-24.2%+30.6pp	-54.7%-4.6pp	-50.2%+6.7pp	-56.8%-2.5pp	-54.3%-69.3pp	15.0%+19.8pp	-4.8%+55.2pp	-60.0%-34.7pp	-25.3%-0.2pp	-25.1%
Net Margin	-28.1%+4.5pp	-32.6%+42.5pp	-75.1%	-172.2%	-79.9%-44.4pp	-35.5%+22.5pp	-58.0%-7.7pp	-50.3%+6.5pp	-56.8%-2.3pp	-54.5%-68.1pp	13.6%+39.4pp	-25.8%-0.7pp	-25.1%-0.6pp	-24.4%+5.2pp	-29.6%
Return on Equity	-24.3%+29.9pp	-54.3%+86.4pp	-140.7%	N/A	-127.0%+13.5pp	-140.6%+44.0pp	-184.5%-102.1pp	-82.4%-24.0pp	-58.4%-2.0pp	-56.4%-75.8pp	19.4%+79.2pp	-59.8%+20.9pp	-80.8%+611.3pp	-692.0%-279.5pp	-412.5%
Return on Assets	-19.6%+8.6pp	-28.2%+13.9pp	-42.1%+78.9pp	-121.0%-66.2pp	-54.8%-6.6pp	-48.3%+14.6pp	-62.8%-13.5pp	-49.3%+1.6pp	-50.9%-2.6pp	-48.3%-64.0pp	15.8%+45.7pp	-30.0%-11.6pp	-18.4%+21.3pp	-39.8%+4.2pp	-44.0%
Current Ratio	5.04+2.9x	2.11+0.7x	1.45+0.5x	0.91-0.7x	1.65+0.2x	1.470.0x	1.43-1.0x	2.44-5.5x	7.95+1.3x	6.61+1.4x	5.16+3.2x	1.97+0.1x	1.85+0.9x	0.92+0.1x	0.82
Debt-to-Equity	0.24-0.7x	0.93-1.4x	2.34	N/A	1.32-0.6x	1.910.0x	1.94+1.3x	0.67+0.5x	0.150.0x	0.17+0.2x	0.000.0x	0.01-1.4x	1.37-0.8x	2.17+1.5x	0.65
Asset Turnover	0.70-0.2x	0.87+0.3x	0.56-0.1x	0.700.0x	0.69-0.7x	1.36+0.3x	1.08+0.1x	0.98+0.1x	0.900.0x	0.89-0.3x	1.160.0x	1.16+0.4x	0.74-0.9x	1.63+0.1x	1.48
FCF Margin	-40.8%-13.8pp	-27.1%+16.8pp	-43.9%	-113.2%	-103.5%	-15.9%+37.3pp	-53.2%-15.3pp	-37.8%-7.4pp	-30.4%+28.2pp	-58.6%-62.1pp	3.4%+10.6pp	-7.1%+71.3pp	-78.4%-47.2pp	-31.2%-17.2pp	-14.1%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	-6.8%-19.7pp	23.3%-8.2pp	18.9%-1.9pp	17.8%+2.1pp	12.9%+4.7pp	31.5%+17.1pp	20.7%+17.6pp	15.7%+19.3pp
Operating Margin	-23.2%-3.6pp	-14.9%+28.6pp	-36.6%-14.1pp	-21.2%+12.1pp	-19.6%+16.3pp	-43.5%+28.4pp	-22.5%+9.4pp	-33.3%+34.2pp
Net Margin	-23.4%-3.2pp	-14.8%+28.8pp	-33.7%-10.7pp	-20.8%+5.6pp	-20.2%+15.5pp	-43.5%+6.7pp	-23.0%+12.5pp	-26.4%+44.1pp
Return on Equity	-26.2%-18.0pp	-3.5%+5.9pp	-8.0%+2.1pp	-5.5%+4.4pp	-8.2%+7.5pp	-9.4%+3.5pp	-10.1%+17.7pp	-9.8%+14.4pp
Return on Assets	-10.8%-6.0pp	-2.4%+2.6pp	-6.4%-1.2pp	-3.3%+1.6pp	-4.8%+3.0pp	-4.9%+0.7pp	-5.2%+3.1pp	-4.9%+5.1pp
Current Ratio	1.54-0.9x	2.85+0.7x	5.04+2.9x	2.50+0.5x	2.41+0.3x	2.11+0.2x	2.11+0.7x	2.02+0.2x
Debt-to-Equity	1.44+0.7x	0.50-0.4x	0.24-0.7x	0.66-0.4x	0.71-0.3x	0.91-0.4x	0.93-1.4x	1.01-0.4x
Asset Turnover	0.46+0.2x	0.160.0x	0.190.0x	0.160.0x	0.240.0x	0.110.0x	0.230.0x	0.190.0x
FCF Margin	-21.9%-3.0pp	7.3%+52.2pp	-88.0%-68.1pp	-12.6%+11.3pp	-18.8%+27.4pp	-45.0%-38.0pp	-19.9%-15.2pp	-23.9%+55.4pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Energy Focus, Inc. EFOI	FY2025	$3.6M	-$1.0M	-28.1%	$17.9M	40/100
Northann Corp. NCL	FY2025	$13.6M	-$11.7M	-85.8%	$8.5M	25/100
Aterian, Inc. ATER	FY2025	$69.0M	-$19.0M	-27.5%	$13.9M	36/100
Marwynn Holdings, Inc. MWYN	FY2026	$4.2M	-$3.9M	-92.4%	$18.8M	33/100
FGI Industries Ltd. FGI	FY2025	$130.5M	-$6.1M	-4.7%	$16.0M	28/100
Crown Crafts Inc CRWS	FY2026	$82.3M	$1.8M	2.2%	$28.5M	39/100

Where Energy Focus, Inc. Ranks

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 -28.1%.

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 -28.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Energy Focus, Inc.'s return on equity (ROE)?

Energy Focus, Inc. (EFOI) has a return on equity of -24.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Energy Focus, Inc.'s free cash flow?

Energy Focus, Inc. (EFOI) recorded an outflow of $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) recorded an outflow of $1.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Energy Focus, Inc.'s total assets?

Energy Focus, Inc. (EFOI) had $5.1M in total assets as of fiscal year 2025, including both current and long-term assets.

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.

What is Energy Focus, Inc.'s current ratio?

Energy Focus, Inc. (EFOI) had a current ratio of 5.04 as of fiscal year 2025, which is generally considered healthy.

What is Energy Focus, Inc.'s debt-to-equity ratio?

Energy Focus, Inc. (EFOI) had a debt-to-equity ratio of 0.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Energy Focus, Inc.'s return on assets (ROA)?

Energy Focus, Inc. (EFOI) had a return on assets of -19.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Energy Focus, Inc.'s P/E ratio?

Energy Focus, Inc. (EFOI) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $17.9M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Energy Focus, Inc.'s price-to-sales ratio?

Energy Focus, Inc. (EFOI) trades at 2.8x sales, its market capitalization divided by revenue of $6.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $17.9M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Energy Focus, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Energy Focus, Inc. (EFOI) held $1.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $1.4M over that year. Dividing the one by the other, the reported balance equals about 9 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Energy Focus, Inc.'s Altman Z-Score?

Energy Focus, Inc. (EFOI) has an Altman Z-Score of -31.08, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Energy Focus, Inc.'s Piotroski F-Score?

Energy Focus, Inc. (EFOI) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Energy Focus, Inc.'s earnings high quality?

Energy Focus, Inc. (EFOI) reported a net loss of $1.0M while operations used $1.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.

How financially healthy is Energy Focus, Inc.?

Energy Focus, Inc. (EFOI) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.