Crown Electr Stock Price, News & Analysis

Crown Electrokinetics (NASDAQ: CRKN) has announced a strengthened financial position with over $25 million in cash (approximately $0.11 per share) and zero debt. The company provided 2025 revenue guidance of $30-35 million and expects to achieve profitability in the first half of 2025.

The company, which has grown to a team of 60 people, operates across three business divisions, focusing on lead pipe identification, water scarcity solutions, and Smart Window Inserts. Crown plans to begin installing its Smart Window Inserts in select U.S. commercial buildings in 2025 as part of a strategic rollout.

Additionally, Crown has filed a $500 million Form S-3 registration statement with the SEC to replace its expiring shelf registration, maintaining flexibility for future capital raising opportunities.

Crown Electrokinetics (NASDAQ: CRKN) announced the results of its Special Meeting of Stockholders held on January 14, 2025. Shareholders approved all proposals, including authorization for up to a 1-for-200 reverse stock split of common stock and ratification of its independent registered public accounting firm.

The Board of Directors has discretion to implement the reverse split within a ratio range of 1-for-2 to 1-for-200 at any time before December 31, 2025. The move aims to maintain Nasdaq listing compliance and ensure continued access to capital markets.

CEO Doug Croxall stated that Crown is positioned for growth across its three divisions and committed to achieving profitability in the first half of 2025. The company focuses on delivering innovative infrastructure solutions benefiting communities and the environment.

Crown Electrokinetics (NASDAQ: CRKN) has issued a important reminder to shareholders regarding the upcoming Special Meeting of Stockholders scheduled for January 14, 2025, at 10:00 a.m. Eastern Time. The company is seeking shareholder approval on key proposals, most notably a reverse stock split aimed at maintaining its Nasdaq listing status.

CEO and Chairman Doug Croxall emphasized that approving the reverse stock split is vital for strengthening Crown's market position, meeting listing requirements, attracting new investors, and enhancing financial flexibility. The company's Board of Directors and management strongly recommend voting FOR all proposals, viewing them as essential for Crown's long-term success.

Shareholders can vote electronically through www.proxyvote.com or by phone at 1-800-690-6903, using their control number found on their proxy card. Additional voting assistance is available through Crown's Investor Relations team at ir@crownek.com.

Crown Electrokinetics (NASDAQ: CRKN) provided a year-end update highlighting its transformation into a conglomerate with three divisions: Smart Windows, Fiber Optics, and Water Solutions. The company expects to achieve $20 million in revenue for 2024, primarily generated in the final three quarters, and projects $30-35 million for 2025. Crown anticipates reaching profitability in H1 2025.

The company has expanded across eight U.S. states and two countries, completing over 2 million feet of fiber optics installation and conducting lead testing on 2,500+ homes. A special stockholders meeting is scheduled for January 14th, 2025, to approve a reverse stock split to maintain NASDAQ listing compliance, with a NASDAQ appeal hearing expected in early February.

Crown Electrokinetics (NASDAQ: CRKN) has completed construction of its first innovative slant well at the Twin Dolphin Club in Cabo San Lucas, Mexico. The 140-foot well, designed to extract water from beneath the ocean floor, represents a sustainable solution for coastal areas facing water scarcity. The construction involved overcoming challenging conditions and utilizing advanced technology, including an electrical resistivity survey with submarine cables to optimize placement.

The project, led by Construction President Corey Boaz, marks a significant milestone in sustainable water infrastructure. The well's proprietary design has already attracted interest in the Los Cabos region due to its unlimited water recharge capability. Crown plans to construct a second well at the same location and sees potential for expanding this technology to other water-scarce coastal areas globally.

Crown Electrokinetics (NASDAQ: CRKN) announced that its Element 82 division has secured two new lead pipe inspection projects in New York, expanding into Little Falls and Warwick. The company will utilize Electro Scan's Swordfish device for non-destructive lead identification. Element 82 has demonstrated significant growth with 12 crews operational and approximately 2,500 homes tested in Q4 2024. The expansion aligns with the EPA's Lead and Copper Rule Improvements initiative, addressing the estimated 9.2 million lead pipes still in use across the U.S.

Crown Electrokinetics (NASDAQ: CRKN) has announced plans to build and co-own a reverse osmosis (RO) water treatment plant in Cabo San Lucas, Mexico, partnering with 529 Capital. The facility will desalinate water collected from Crown's proprietary slant wells, addressing water scarcity in the Baja Peninsula. The project is expected to generate up to $40 million in recurring annual revenue.

The plant will provide clean drinking water to select resorts through a co-operative partnership over the next 5 years. The partners also plan to donate up to 500,000 gallons of clean drinking water per day to nearby communities. Construction is scheduled to begin in summer 2025, with operations expected to start in 2026.

Crown Electrokinetics (NASDAQ: CRKN) has secured multiple Fiber-to-the-Home (FTTH) purchase orders valued at approximately $8 million from a leading regional fiber-optic internet provider in Oregon. This expansion strengthens Crown's presence in the region and demonstrates its growing role in delivering fiber optics infrastructure solutions.

The company aims to capitalize on the increasing U.S. demand for high-capacity fiber optic networks, which are recognized as a cost-effective technology offering multiple revenue streams from single investments. Through its fiber optics design and construction services, Crown is positioning itself to drive connectivity across key U.S. regions.

Crown Electrokinetics highlights potential impacts of the incoming Trump administration on its water solutions division. The Lead and Copper Rule Improvement (LCRI) legislation, effective December 30, 2024, will remain unaffected by EPA's regulatory freeze on January 20, 2025. The company's Element 82 and PE Pipelines businesses, focused on lead pipe detection and remediation, are positioned to benefit from continued infrastructure priorities. Crown is exploring funding options, including reinstating its Equity Line of Credit (ELOC) to support growing demand.