The 10-second takeaway
For the quarter ended March 31 (Q1), Acorn Energy whiffed on revenue and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly and GAAP loss per share improved.
Margins shrank across the board.
Acorn Energy booked revenue of $4.2 million. The one analyst polled by S&P Capital IQ anticipated a top line of $8.9 million on the same basis. GAAP reported sales were 38% lower than the prior-year quarter's $6.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.24. The one earnings estimate compiled by S&P Capital IQ forecast -$0.04 per share. GAAP EPS were -$0.24 for Q1 versus -$0.13 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 28.6%, 440 basis points worse than the prior-year quarter. Operating margin was -102.4%, 6,020 basis points worse than the prior-year quarter. Net margin was -98.7%, 6,630 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $9.1 million. On the bottom line, the average EPS estimate is -$0.04.
Next year's average estimate for revenue is $38.0 million. The average EPS estimate is -$0.18.
The stock has a two-star rating (out of five) at Motley Fool CAPS.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Acorn Energy is buy, with an average price target of $9.61.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.