Here are the 10-K annual reports from Energy Focus, Inc. (EFOI) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow EFOI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full EFOI filings page.
Energy Focus, Inc. designs and sells energy‑efficient LED lighting, military maritime lighting, energy storage systems, GaN power supplies, and AI data‑center UPS solutions for commercial and defense customers. The company is repositioning toward ESS, AI data centers, and expansion in Taiwan and Japan while restructuring sales and costs.
For the year ended December 31, 2025, Energy Focus reported a net loss of $1.0 million, with an accumulated deficit of $155.9 million and cash of about $1.1 million. The auditor’s opinion includes a modification expressing substantial doubt about the company’s ability to continue as a going concern. To fund operations, Energy Focus completed four 2025 private placements totaling roughly $2.1 million of common stock proceeds.
Risk disclosures highlight heavy reliance on external financing, concentrated customers and suppliers, tariffs and global trade uncertainty, and a key related‑party supplier that represented 71% of accounts payable and 92% of purchase commitments as of December 31, 2025. The company had 6,306,433 common shares outstanding as of March 24, 2026 and a small workforce of 8 full‑time and 4 part‑time employees. Management is pursuing growth but cautions that actual results may differ materially from expectations.