Crown Electr Stock Price, News & Analysis

Crown Electrokinetics (NASDAQ: CRKN) reported its Q1 2025 financial results, showing revenue growth to $2.8 million, up from $0.7 million in Q1 2024. However, the company faced increased losses with a net loss of $9.7 million, higher than the $4.6 million loss in Q1 2024. Operating expenses rose significantly to $8.9 million from $2.7 million year-over-year.

The company made progress across multiple divisions: expanding its Fiber Optics business with new telecom professionals and an MSA in Oregon; advancing Element82's lead service line inspections in Baltimore and Pittsburgh; receiving regulatory approvals for slant wells in Mexico; and strengthening its Smart Windows manufacturing capabilities. Crown also granted 627,500 restricted stock units to eight new employees as inducement awards.

Crown Electrokinetics (OTC: CRKN) reported significant growth for FY2024, with revenue reaching $19.7 million, up from $0.2 million in 2023. The revenue breakdown includes $13.6 million from Fiber Optics, $4.6 million from Water Service Lines, and $1.5 million from Water Intake Solutions.

Key operational highlights include installing over 2 million feet of fiber optic cable, completing 4,000+ home inspections for lead service lines, and constructing two proprietary slant wells in Cabo San Lucas. The company ended 2024 with $13.7 million in cash, currently exceeding $20 million.

Financial results show a gross margin loss of ($0.7 million), operating expenses of $23.4 million, and a net loss of $25.9 million. The company reports no substantial doubt about its ability to continue as a going concern and plans to launch Smart Window Inserts by end of 2025.

Crown Electrokinetics (OTC: CRKN) announced the resignation of Andrew "Andy" Mayer, President of Construction, effective March 25, 2025. CEO Doug Croxall acknowledged Mayer's departure and affirmed the company's continued focus on its diverse business segments.

The company maintains operations across multiple divisions including Smart Windows, Fiber Optics, Water Service Lines, and Water Intake Solutions. Crown plans to provide future updates regarding the leadership structure and progress of its Construction division.

Crown Electrokinetics (OTC: CRKN) announced that the Nasdaq Hearings Panel has rejected their request to reconsider its March 3, 2025 decision to delist the company's common stock from The Nasdaq Stock Market. In response, Crown filed an appeal on March 18, 2025, seeking further review of the delisting decision.

The company has transitioned to trading on the OTC market and is working with market makers and advisors to maintain efficient trading and liquidity for shareholders. CEO Doug Croxall stated that while the outcome was not preferred, the company continues to focus on executing its business strategy and delivering long-term value for shareholders.

Crown aims to eventually return to a national exchange when appropriate while maintaining its focus on growth strategy and operational efficiency in the infrastructure solutions sector.

Crown Electrokinetics (OTC: CRKN) has provided a shareholder update following its recent Nasdaq delisting. The company has expanded its infrastructure business through Crown Construction, which now encompasses fiber optics, water service lines (Element 82), water intake solutions, and XXL pipelines.

Despite the delisting setback, Crown maintains a strong financial position with over $20 million in cash and no debt. The company reports no new share issuance post reverse split and highlights its stable trading on the OTC market. Crown emphasizes its focus on achieving sustained profitability to position for a future uplisting.

The company has assembled an experienced team of industry veterans and is actively pursuing multiple infrastructure project opportunities. Crown acknowledges that the construction industry operates on long lead times, affecting revenue growth timing. A detailed update on business performance and strategy will be provided in the upcoming earnings release and 10-K filing.

Crown Electrokinetics (NASDAQ: CRKN) has received a delisting determination from Nasdaq, leading to a trading suspension effective March 5, 2025. The company plans to request reconsideration and appeal the decision. During this process, CRKN's stock will trade on the OTC Market's Pink Current Information tier.

Despite the delisting notice, Crown highlights its improved position:

• Cash balance exceeding $20 million with no debt
• Stock price compliance at $3.40 per share for 22 consecutive business days
• Meets minimum $2.5 million stockholders' equity requirement

The company operates through Crown Construction, providing infrastructure solutions in fiber optics, water service lines, water intake solutions, and XXL diameter pipelines. CEO Doug Croxall emphasizes the company's revenue generation through construction business and their focus on executing growth strategy while the appeal process continues.

Crown Electrokinetics (NASDAQ: CRKN) has announced the completion of its second slant well at the Twin Dolphin Club in Cabo San Lucas, Mexico, marking the finalization of its first slant well project. The company has submitted final pump test and water quality samples to Mexico's National Water Commission (CONAGUA) for review.

The wells, with the first completed in December 2024, will be integrated into an existing reverse osmosis (RO) plant and are expected to be fully operational in the coming months pending regulatory approvals. The project utilizes proprietary trenchless technology to provide an environmentally responsible water sourcing method, reducing ecological disruption compared to traditional seawater intakes.

Crown is currently conducting survey work for additional slant well installations in 2025, with strong interest reported from potential customers in the Los Cabos region.

Crown Electrokinetics (NASDAQ: CRKN) announced that its Element 82 division will play a important role in Pittsburgh Water's lead pipe replacement initiative. Through an exclusive partnership with Electro Scan Inc., Element 82 will deploy SWORDFISH technology to inspect water service lines for 1,600 homes as part of the Neighborhood Lead Service Line Replacement program.

SWORDFISH utilizes advanced electrical resistance testing for lead pipe identification, offering non-invasive and non-destructive inspection methods. The U.S. Environmental Protection Agency recognized electrical resistance testing in December 2024 as the only commercially available solution capable of accurately identifying lead water pipes. The technology can detect various materials, including lead, copper, galvanized, and plastic pipes, surpassing traditional detection methods.

Crown Electrokinetics (NASDAQ: CRKN) announced that its Element 82 division will play a important role in Pittsburgh Water's lead pipe replacement initiative. Through an exclusive partnership with Electro Scan Inc., Element 82 will deploy SWORDFISH technology to inspect water service lines for 1,600 homes as part of PGH2O's Neighborhood Lead Service Line Replacement program.

SWORDFISH, recognized by the EPA in December 2024 as the only commercially available solution for accurate lead pipe identification, uses electrical resistance testing to detect various pipe materials including lead, copper, galvanized, and plastic pipes. The technology provides non-invasive and non-destructive inspection capabilities with superior accuracy compared to traditional methods.