Acorn Energy Files Q3 2024 10-Q Report
Ticker: ACFN · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 880984
| Field | Detail |
|---|---|
| Company | Acorn Energy, INC. (ACFN) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $1 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
ACRN Q3 2024 10-Q filed. Check financials.
AI Summary
Acorn Energy, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Specific financial details and operational updates for this period are detailed within the report.
Why It Matters
This filing provides investors with the latest financial performance and operational status of Acorn Energy, Inc. for the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report and does not contain immediate red flags.
Key Numbers
- 2024-09-30 — Reporting Period End (Covers the third quarter and year-to-date performance.)
- 2024-11-07 — Filing Date (Date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- ACORN ENERGY, INC. (company) — Filer
- 20240930 (date) — Reporting Period End Date
- 20241107 (date) — Filing Date
- 001-33886 (dollar_amount) — SEC File Number
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 7, 2024.
What is the company's Central Index Key (CIK)?
The company's Central Index Key (CIK) is 0000880984.
What is the SEC file number for Acorn Energy, Inc.?
The SEC file number for Acorn Energy, Inc. is 001-33886.
What is the fiscal year end for Acorn Energy, Inc.?
The fiscal year end for Acorn Energy, Inc. is December 31.
Filing Stats: 4,756 words · 19 min read · ~16 pages · Grade level 16.1 · Accepted 2024-11-07 08:10:01
Key Financial Figures
- $1 — ( 931 ) $ 10 $ ( 921 ) * Less than $1. The accompanying notes are an integr
Filing Documents
- form10-q.htm (10-Q) — 1351KB
- ex31-1.htm (EX-31.1) — 19KB
- ex31-2.htm (EX-31.2) — 19KB
- ex32-1.htm (EX-32.1) — 7KB
- ex32-2.htm (EX-32.2) — 7KB
- 0001493152-24-043923.txt ( ) — 6088KB
- acfn-20240930.xsd (EX-101.SCH) — 43KB
- acfn-20240930_cal.xml (EX-101.CAL) — 50KB
- acfn-20240930_def.xml (EX-101.DEF) — 115KB
- acfn-20240930_lab.xml (EX-101.LAB) — 302KB
- acfn-20240930_pre.xml (EX-101.PRE) — 233KB
- form10-q_htm.xml (XML) — 1165KB
Financial Information
PART I Financial Information
Financial Statements
Item 1. Financial Statements: 3 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Changes in Equity (Deficit) (Unaudited) for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 25
Controls and Procedures
Item 4. Controls and Procedures 25
Other Information
PART II Other Information
Exhibits
Item 6. Exhibits 27
Signatures
Signatures 28 Certain such as "we expect", "we anticipate", "we believe", "we estimate" and other phrases of similar meaning. Whether such statements ultimately prove to be accurate depends upon a variety of factors that may affect our business and operations. Many of these factors are described in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission. 2 PART I ITEM 1. FINANCIAL ACORN ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) As of September 30, 2024 As of December 31, 2023 (Unaudited) ASSETS Current assets: Cash $ 2,153 $ 1,449 Accounts receivable, net 894 536 Inventory, net 659 962 Deferred cost of goods sold (COGS) 507 809 Other current assets 318 280 Total current assets 4,531 4,036 Property and equipment, net 527 570 Right-of-use assets, net 112 193 Deferred COGS 134 476 Other assets 99 174 Total assets $ 5,403 $ 5,449 LIABILITIES AND EQUITY (DEFICIT) Current liabilities: Accounts payable $ 313 $ 288 Accrued expenses 202 132 Deferred revenue 3,572 4,034 Current operating lease liabilities 129 123 Other current liabilities 38 30 Total current liabilities 4,254 4,607 Long-term liabilities: Deferred revenue 812 1,550 Noncurrent operating lease liabilities — 98 Other long-term liabilities 23 20 Total liabilities 5,089 6,275 Commitments and contingencies (Note 7) - - Equity (deficit): Acorn Energy, Inc. stockholders Common stock - $ 0.01 par value per share: 42,000,000 shares authorized, 2,537,485 and 2,534,969 shares issued at September 30, 2024 and December 31, 2023, respectively, and 2,487,307 and 2,484,791 shares outstanding at September 30, 2024 and December 31, 2023, respectiv