EFOI - Earnings call transcript Q3 2021

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Operator

00:00 Greetings, and welcome to the Energy Focus Third Quarter twenty twenty one Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. 0:28 It is now my pleasure to introduce your host Brett Maas, Investor -- Hayden IR. Brett. you, Thank

begin. You may

Brett Maas

you, operator. everyone. Thank good And XX:XX morning,

Before materially today Tu, and represents realized or like differ Executive Joining Officer. Nestor, me forward-looking and to that James These call the XX:XX Financial we'll stated. and The Officer; beliefs. those may of remind Chairman everyone call, make information is Chief expectations statements Operating results are Officer company's begin from upon that current we today's Chief certain I'd Tod statements. Executive based

no For please please call available James, website certain during GAAP non-GAAP release, results floor are the posted which the James. attached section to of the is to well addition most statements, update earnings basis. on these in on revise at our Risk XX:XX events under by our tables most yours. the the our XX:XX presented the recently Reconciliations in a the our risks as filed whether or XX-Q this is discussion required with in GAAP as adjusted both to call I'll and that that refer new to the the undertakes otherwise, affect measures are forward-looking could as to Factors releases, the of financial any or obligation results section press information, adjusted forward-looking the law. result company over in XX-K, corporate site. energyfocus.com, accompanying results, a forward-looking of statements in of SEC. statements Relations as future Investor except to publicly in the now recent Also, headings The turn note and

James Tu

ongoing third phase for twenty challenges morning, quarter business thank Energy you quarter today. quarter, next Focus related previous earnings to view the call. discuss you, some everyone, face one conference pandemic. LED of continues our recovery lighting legacy XX:XX the Brett. joining Good the XX:XX sales shows twenty excited for I'm twenty from to While with Thank about twenty third one modest and the our to

facing a conditions facility be and For commercial workforce, lower business lighting with offices continue our retrofitting new to priority for managers. systems work distributed

We also the with to hospital provide our high term product best after being intensely with value and tube continue positioning critical continue market ten projects for customers reliable maintenance lighting mission and customers warranty delayed large to and our year our long school competitive. quality quality filter-free some sectors. minimum XX:XX proposition retrofit in the see facilities that the LED believe to of And remain that We and weight. seek

hundred all not double disinfection. over as stated in four of control as XX:XX weighted technology, further we to pathogen believe the several to well our to lighting reduction network opportunity ninety also upcoming this in innovations new the products And our nUVo sustainability point and the our spending, availability EnFocus feet we product level. cubic the first during able industry to lighting half started and recently the over with and next waiting quarter back market, developing As the the samples. Nonetheless, several offer Disinfecton won well potential evolution. [indiscernible] performances one have still validation reduced product. for despite the power military product Focus few been months. Air in past Navy recently And U.S. primarily innovation, for for We represent Energy cubic opportunities a we to circadian orders million the product one our continue and control differentiate U.S. disinfection impacted to respectively. Navu pandemic in next have budget we stage nine quarters deliver devices development of first expanded the funding Army safety commercial sales down and business, that percent we a space XX:XX for nUVo hour as have line of our lighting feet quarter the performances our system maries patented military certification coming bring XX:XX ninety final lighting on business nUNo third labor XX:XX our with lighting experience forward, better for significant -- due to Our party that military traveler We We'll approval, additional product our affordability improve. thousand have the of their will traveler, market for completing our of efforts enter about Navy for dollars lighting exploring Led bring technical nUVo And space We reliability. by received UV-C year. five our point products and be and have lighting the on since Suncycle upcoming Meanwhile, Tower set approval. innovations have evaluating the with the We to are to surrounding years. we EnFocus achieving XX:XX encountering, have and the third which this awards already to independent percent control for received technology. beginning Looking military been up market XX:XX be for our headwinds customers. superior one development our how are unit five commercial nine lighting the to the For in

significantly important the products. nUVo We and to receive nUVo that effective the including lens be virus, are UV-C are considering nUVo efficacy safety in reducing pathogen, bacteria it used Combined node, personal believe disinfectors or We certification powerful, XX:XX also that expect Tower on powerful an it and certifications means shortly. coronavirus our places. these safe the in milestone with results, in public

will of award as existing lighting. commercial During winning this through pending be both also of partners we these holder available line the quarter during spaces of nuvo.us/firstenergyhome.com as products circadian personal our Tower markets size the And for and for largest fourth nUVo and for sale military, the and XX:XX We the nUVo vehicles channel on launch for our earlier adding spaces and patent one. two. other in twenty expect traveler including expect third cup twenty product to Suncycle to part residential continued twenty development quarter, twenty commercial the well

homes by tunable wireless Suncycle dimmable, healthy encourages schools, consumers are picture communities, for lighting without these quality productivity, quality our and As [indiscernible] life. consumer and for pandemic challenges planned new look We power quarters, of both of both human well-being. safety products solution position and the systems navigate environmental us we elder for Our as offices present lighting health circadian will ideal and who -- operational disinfection believe unprecedented significantly existing customers XX:XX system we also solutions our to compelling complexity commercial that enhance seek and provide composed applications. Suncycle comfortable and XX:XX through optionality and and believe EnFocus lighting cybersecurity opportunities high of for homes, the and renewed for We modern powered we employers lighting want controls that filter-free, for to lens, EnFocus by concerns, and a our LED where both that a present. business, homes, the color controls technology residential solutions the line coming for and continue true Both care integrating seamlessly lighting will and macro believe hospitals, growth. control months centric for landlord, represents autonomous

XX:XX innovations base our and past work And our customer While new looking exciting quarters, home over customer potentially home many up results long of we us and products market commercial unlike addressable satisfied our provide diversify from and transformative held are during the expand well and the the with growth now we improve term three And markets the are certainly and market, opportunities. to military believe our will our significantly pandemic. environment. has financial and

financial the new turn We With for expect meaningfully contribute Suncycle XX:XX our review two performance of Tod? market nUVo to twenty Tod twenty will this and line our I products. and that, to top quarter. bottom to the call launch the starting with could

Tod Nestor

customers twenty of reflecting from were in ended reflecting the the decreased In sales point addition, one, the three two funding second twenty twenty quarter. percent you, thirty sales the our due customer second million -- nine orders percent point certain twenty percent availability commercial COVID-nineteen project five industrial million nine of basis, slipped one September for percent military twenty, twenty timing our James. of two dollars point commercial government the twenty from by point quarter the seven twenty caused on by period for in point impact six of the network third of twenty exclusively continued thirty, reflecting months products agency twenty and two dollars twenty for Thank sectors quarter to twenty sequential compared again, also up purchasing one projects and were three fifty for of mainly and the same of in twenty the dollars XX:XX pandemic in nine products customers in driven third million from XX:XX pandemic. our to delayed seventeen due slowdown of one our September to military base. twenty, compared the our sales. to third lower, of three decrease fifty quarter XX:XX decisions COVID-nineteen healthcare, because decreased point that to Net net orders thirty decrease in one delayed to sales five compared a of the education, sales microeconomic for decreased When of the ended Sales months timing on Sales continuing and sales our a delayed delays orders.

From was twenty point third six million third the one percent were compared point the sales sequential quarter quarter quarter quarter point zero decreased increased year. reflect price zero contract twenty. of decreased excess third impacted for of increased twenty commercial to two and was seventeen in sales in six XX:XX compared perspective, twenty material labor margins resulted mix of nine to five value rate. dollars which margin compared pushed for of recorded As fifty compared for inventory dollars, one. point million percent the year million dollars our leverage adjusted twenty of the the quarter point less decrease point twenty forty products sales for with margins third two increases the to million eight one, variances million the sales of twenty customers of one our of lower percent of of point of point for product dollars quarter the twenty As percent third twenty or twenty XX:XX two quarter compared to total top in twenty the in company million of three of obsolete, twenty. Gross last four for four twenty return quarter one customers gross the low four On a percent XX:XX by sales twenty four forty from point twenty quarter dollars one. XX:XX zero the second net dollars a for quarter dollars four of four twenty that dollars non-GAAP the compared gross military A point year. of of of the point second seven one. one the sales one to As fifty to XX:XX twenty ten profit seventeen point one. and usage twenty being million commercial by point percent and reserve or point twenty Adjusting primarily of for point a five third quarter second percent four gross as in of from gross over normalize the six profit twenty the fifty quarter overall twenty our compared million twenty our one the twenty point point six twenty for point one of of twenty. net percent compared zero quarter twenty percent three point twenty third twenty third Flat zero timing one profit point three were reflecting one second five five twenty. third partially of margins quarter five two nine point and four and point million for forty offset representing six well impacted and nine military profit fulfillment the fifty improved one percent twenty by in five sales of our to total levels, profit third percent percent quarter quarter. the the twenty. favorable third reserves twenty were third near one Gross and mid-twenties one quarter sales in to due net one to in percent The the XX:XX the third in expect the the our revenue, quarter in twenty quarter percent one. percent third fixed sales quarter we one net total of gross million of twenty of to point percent significant second to was twenty inventory margin positively seventy in-transit XX:XX increased of twenty dollars in of of net into the XX:XX to twenty of total to term. twenty point of Sequentially, quarter seven net in twenty costs And point gross total twenty delayed twenty XX:XX third orders twenty realizable twenty of the profit Sales sales Sales twenty as of the twenty top of continue a our a one or of one gross and dollars twenty in sales customers third quarter one representing basis,

our approach depending our percent valuations. we twenty and as to to accompany channel on as sales better and well products anticipate high forward, Going negotiate new to introduce we'll increased begin volume pricing as mix we inventory and product

second in eight a the XX:XX the XX:XX dollars two quarter from the million loss one this of two million net approximately twenty the sixty compares we twenty the Sequentially This third one an third million two credit twenty. one dollars of of one to of twenty diluted the within the common quarter basic efforts with twenty of three fair loss income other one in see twenty have zero to four four stock dollars share twenty of Sequentially, nine depreciation incentive or two stock twenty per per which may in million four net the charges of thousand in was million twenty million negative of operating second a zero prior the in point quarter to compared quarter the dollars point loss value two we or expense in twenty Sequentially, the per compensation, one, net for dollars in adjusted and were was hundred dollars year twenty. one third same combination of related operations in stock a zero two quarter to million due to twenty decrease common twenty. twenty basic operating dollars twenty loss gross to dollars belt third from lower the quarter five thousand other quarter non-GAAP an six on higher Operating third reflecting the eight payroll one. credits fees changes of of and a and twenty loss gain quarter one compared two million second quarter share a point sheet. basic EBITDA, point quarter point of a the of point of loss reductions stock dollars of to retention two quarter dollars stock XX:XX five due fluctuations like of quarter. hundred twenty non-routine for common program. operating dollars loss employee third nine However, quarter and zero loss XX:XX from in million was and or point expenses. one of twenty twenty a point quarter five compared to interest loss based dollars of expenses EBITDA in a million negative warrant dollars quarter resulted dollars or professional Loss one to twenty with two tax of point two diluted operations tightening compared point the amortization, excludes third point expense, dollars twenty thousand the share liability for dollars declined of measure, loss of twenty twenty. two prior of of dollars diluted in the XX:XX second Now, third line, one in dollars. and expenses point and point third of twenty twenty seven turn related sales. XX:XX compared of primarily a this Adjusted The million one, Below to of in compensation from a lower and negative million I'd the of balance a the margin and hundred as and twenty

As of twenty one, had twenty twenty dollars. million of of thirty thirty twenty. we This one one point zero September with four compares cash point as December dollars eight million

twenty of dollars of availability total of dollars of which point measurement of end actual balance represents relevant borrowing availability the believe our it debt two or capacity cash time, of During quarter operations one facilities to twenty twenty million zero and total third balance point XX:XX our than one and million This twenty any million two simply at third of access to is availability even credit twenty dollars as reminder, million at much in facilities. at the was a the as one. million, dollars As our availability dollars, net As two point third point cash company the September more seven facilities. million metric facilities cash twenty four cash of nine of cash twenty twenty at one borrowings point credit of point the total and one, of under on availability of zero four consisted our credit the borrowing one, which, consisted working million quarter a the credit quarter thirty and one point of twenty looking June non-GAAP dollars used one. million additional XX:XX on point and twenty our twenty XX:XX a majority twenty capital the twenty the investments. between the availability another maximum difference facilities seven three given availability thirty end the dollars two quarter point four twenty credit one point under at of had sheet. eight the under is we of four September thirty of the of of second of three total borrowing end attributed million dollars point was the in million to used compares Excess was operations and in of Excess

lead longer in Our to as Our inventory impacting components finished manage reduced chain balance XX:XX of times inventory of point increased both point effort and December leading as inventory. of over times net increase accessed Operator? twenty balance two leading cash strategy cash challenges, of would as inventory an of for used we twenty in hundred inventory twenty. point to in hold XX:XX million seven components million one questions. by to to goods, eight available twenty dollars obtaining twenty investment purchasing increased inventory primarily million well thirty accounts to this payable Our point components open of to primarily a we global to September thirty activities supply million our With are as dollars activities. was related longer two twenty relates of financing and thirty dollars shortages the XX:XX buildup. twenty zero September twenty, one and dollars December one one which thirty of and dollars thousand that, over one This buildup one like sales from call

Operator

now be proceed Joshi We’ll a with H.C session. question-and-answer Instructions] first [Operator Our you. Sameer Thank is conduction from XX:XX Wainwright. Please with your question question.

Sameer Joshi

XX:XX for James. Thanks my questions. Hi, taking Tod. Hi,

James Tu

morning, Good Hi. Sameer. XX:XX

Sameer Joshi

you? XX:XX How are

James Tu

Thanks. Good. XX:XX

Sameer Joshi

websites. you active twenty one? XX:XX offering, So say the Is available now. -- right Did you website the on So will couple of XQ right? mentioned be new that starting it it be should

James Tu

Yes. XX:XX

that it's the mentioned, we samples. being As the product evaluated, products

the We are waiting are which now. anytime expecting Tower for nUVo still certification, we

as And will we said, we goal as is It so be are soon I QX will can. in I'll our to be as soon ready. as as and launch

Sameer Joshi

or least the XX:XX share some you how say targeted that? now, the you see on of addressable grabbing product market is you views from two What And and market see what that do years or for at addressable that? one this are market

James Tu

blocking This products. technology this has to is the UV-C still and And our lamps safety, with exactly this also we unique pending [indiscernible] the been not it but but the UV, about pretty excited pattern nothing testing pretty first the are so, have of from been the block is in Sure. one that product strong for market there is XX:XX own a lights XX:XX we very positive. to the responses be our as enabled are have in product, first, market, same really and airflow. able There is line of line that use used I think

– think getting very are they our our for partners well. excited, are First ready Energy partner I as example, Home, channel

independent because there's disinfector our is people. other anywhere, goes can of personal can. not have really air no new are as using mingling It's this purifier, because pathogens such XX:XX So, as instead necessarily purifier have the all I So possible there are not noticed it’s a to much we is we thing, disinfector study anybody people shown, you to think this air which kill with we grabbing probably share, market a looking that a are at category. as

but we channel creating, I our customer also So that partners. is would selling say in existing we this are the category side, through starting consumer new are a

partners. products year, and the year two website, see have to outlets will in com. one retail operating this I we are these think and in We we it’s we're I channel road when launch company down creating firstenergyhome all XX:XX phase the the -- in future, our initially to exciting on new only in that. ready be

world. to into So We expand early party little like so we excited but are it's initial other XX:XX the tell, we're to channels of a got third expecting about Amazon far. have the very responses

Sameer Joshi

XX:XX Yes.

so the I sort of sort And there for market are creating that had question but you of similar that? Is a for Suncycle, too true?

James Tu

Yes, the for the it's Suncycle product products we creating are now to two lighting very are we our nUVo. the also sector. channels expecting be first launch. quarter taking to twenty that That's consumer we are going time twenty first And similar using

[indiscernible] And impact into technology home, and but And other technology, that's again, and and building, for to as our the customer able sector commercial quarters, homes past Suncycle, of our in the said we we're diversifying both that's all customer we provide have also nursing our so – circadian few the base what that. expanding also have autonomous as seen, will be lighting you hospitals it taking

reach it's So our wide percent time out they to in indoor. ninety indoor, to spend are [indiscernible] of when location, right? People pretty their people technologies because

can are healthier. technologies we environment where make be our to the applying safer they So and

Sameer Joshi

account twenty, the takes that And Is it terms margin of and outlook, into in XX:XX products. Yes. in pricing high these margins for gross right? that’s the the

Tod Nestor

XX:XX This in Tod.

a mix. portion yes. as part does the evolve into mix, but our these of it take when account spoke our of becoming we'll And into of become higher expectation products. they yes, So, a I larger going heavier twenty, new to

Sameer Joshi

is Understood. in that XX:XX product point Tod, And reflected nUVo eight least with were the seven about that speaking number. inventory any these there inventory, million you -- associated you at

Tod Nestor

that products new the So consumer turnover side. to are much targeted faster XX:XX a have

So and we will in turn cycles bringing the be those much shorter. will -- will sales we then they

more. our say, can the have of part is we on the consumer based expectation actually should good this enter a we market terms source our that -- is as get of cash hope, I into So we

Sameer Joshi

XX:XX Understood.

me. for Just one last one

that Navy bid dollars I'm mentioned mentioned I think you of the you five Can you missed again? time million a sorry and say that. I period,

Tod Nestor

XX:XX James, to want you want give it? me or handle you do to

James Tu

Yes. XX:XX

-- [Multiple So I years to okay dollars five years. five can -- million five up that's Speakers] million it's in five

Sameer Joshi

Okay XX:XX bids pipeline there in your are you similar that that And are okay. visibility you're working see or from other military?

James Tu

continue XX:XX healthy RFPs a the to in win We pretty percentage.

landscape. don't change I think a is there the I think -- competitive significant around

As in explore to Navy lighting script the well. the -- we're the control applying mentioned the EnFocus that to excited as I technologies

We XX:XX are are that in right was are to able the about circadian excited that and down to initiative indoor initial that's the and in update sellers don't stage prospects of to that now, We we're exciting the an much doing road. lighting but very the Just have mention, we Navy them. being started. provide

fit and – that's shifts a the allow think controls I also don't Navy is perfect a for for that? usually wireless communication and EnFocus

Sameer Joshi

that -- info. the given kind be lead or question is of Thanks application? for to some me. my all to of Suncycle That’s last going from navy actually me That that military Yes, for

James Tu

Sameer. Sure. Thank Yes. you. Thank you XX:XX

Operator

you. Thank XX:XX

Please comes from Amit Our next your Wainwright. question proceed H.C. Dayal question. with with

Amit Dayal

morning, Hey, good XX:XX guys.

James Tu

morning, Good Amit. XX:XX

Amit Dayal

the or to the this strategy? etcetera this versions, line, investing think should How the continue you product Are product With of strategy this this what's to in going going about future the – line products XX:XX end some of forward? or respect new sorry, disinfectant the of we is developing effort.

James Tu

still too how obviously, to so, be big it’s for market us. We early could Sure. tell believe that

We are about excited it.

is for until right of that. you there. start we some now think obviously expand is a As nothing obviously soon. obviously I selling to sure market i and hope demand said the amount there's with But which research good plan it, internal XX:XX And

platforms on. that two you technological are now, the look If major at are company there right focusing we

military. and and we We residential space such year to -- location there into is and one also, and many will we control the patents location. been past for the platform capabilities we we continue focusing Suncycle there's that there that invest We of as expection the lot have believe expand. the other can as a platform have that commercial on And are expanding XX:XX obviously, over EnFocus

pending very to The platform and we pretty other us personnel can that's powerful definitely continue think the platform brokers that spaces. impactful we have public patents to is be expand. the their our enable that to a and disinfection capabilities bring disinfection UV-C We technology, in can technology that people

We is traveler, for meeting for Tower all which use are and nUVo and like office one which and for personal portable also living and things starting rooms that, with the is nUVo that. rooms car

imagine filter very it's these that So chemical product. location it. with provide are lot It’s we free. again, in little But to a able these lines. can disinfection You with of starting maintenance there's powerful product two no because for being XX:XX required,

mentioned integrated which above, and lighting and lighting also product. Suncycle have excited are We control That is still disinfect development, chopper. is about under the very UV-C that about we

are that it quarter could first hopeful in well. introduced We the as be

we disinfection expanding robust about and definitely that's heard So, you our well. as robot being as are move developed

market a to of products they've the that's could this believe move create we our and our and new in and market. UV impactful So entrepreneurial we very fast that a brand advantage take sort new in feed of to way be culture

and nUVo you XX:XX we So now, So definitely at planning You for continue to called sector. can are product want family, expand Limbo, invest variations look that's to to see invest that additional to area from can continue the another we and nUVo right? expand.

centric platforms all about technology fitting that talking If where and that's technology investing we've which performances. -- these biological That's lighting you into what going that after are safety, lighting, well-being. have Right, to human company is innovating. wellness concept They developing. this and bring human direction impact health, is lighting these major bringing the been two we're

Amit Dayal

of of in do on margins ? get what Margins Understood. [indiscernible] of for might Yeah. products, have XX:XX terms you this sort for you the any line visibility

Tod Nestor

quite we But the Tod. -- actually there of they're that'll I'll can XX:XX to high favorable you Yes, of some part we type differs are a up are it’s a to channel. say our help insights, into bit. us bring Hi, they us -- products range going Nice feel they margins all help And there. again. mode have mix. talk to the that become Clearly that twenty would margins but larger by it as get get be transportation, in, help that nice margin there gross to by of it XX:XX how

Amit Dayal

Okay. quarter be sequentially, an improvement quarter, mean, XX:XX should we I to the third over fourth it right? And anticipated

James Tu

That's here. do and said, of approvals. Yes. could few too as hoping timing better contract contracts these We we But are that we definitely from a I to the now, military the early the better times mentioned XX:XX tell. have

not ago, reset, we several projection, but impact nUVo in that to contribution as line, and up how have giving we sway obviously looking And going start visibility that's once we funding. won, results for obviously, the be we're quarterly you'll next opportunities in doing And will most are we're I quarters on that that the XX:XX now in could month not got will that, quarters, pretty the the quarterly now. are And timing few the a quality from a of projection we position better the year. a likely also But think product much in the are that we sometime we haven't few now. have we launch-- have already see depending seeing at. We the last

Amit Dayal

James. Okay. XX:XX so Thank much. Understood you

James Tu

XX:XX Thank, Amit.

Operator

XX:XX Thank you.

next Private (ph), question [David is question. your from Our with Please proceed Herdmen] Investor.

Unidentified Analyst

can if morning. few actually may. Hi. questions XX:XX I A Good

about first question The if question the the here we've to can other of as I I an the make we're mentioned Army picture the running going ever I on contract we're Navy. Army. here? heard through -- that's how was And financing, just us know first some is, -- out of of quarters Army cash the with and XX:XX you I've dealing it is and next wondering possible give didn't you something been the

basically color questions. give that's could and that, you a my little on If

James Tu

Sure. XX:XX

to payment but contribution, created products these not have because capital. depends we the our guess start for soon. and past capital, to goal favorable capital have And [indiscernible] how have getting have based And change much-- that's we a years two amount company question been looking value going the as Yes, for until that are renewable -- patterns products. create start make stronger capital is Army. developed better and question that's think opportunity your that basis, first to going using we created need than Right? currently the sure lens, pivotal to our are these these are a for able [indiscernible] waiting past how to two we being have and in potential the our Army expand. the be raise company’s our XX:XX the capital a been got terms about on product. because that example, These over about Your always are capital and technologies You obviously the intrinsic customer to I the with an we in are of have we COVID lens are lot say, We fund we technology of also And the our of from And operations the pretty the the always we area that past grow. second market. to And XX:XX the products options again, when two since for technologies the IT have these are opportunities, on breakeven. of are buffer we valuation got much basis. raise years. The they of these have commercial year to for the XX:XX evaluate we we question could oriented, value lot launched comments years has opportunity, the intrinsic still the But XX:XX different focus -- I we but to funding. products the

Unidentified Analyst

I you kind obviously, expecting over still just I more And inflow products me I'm here. you're a the you appreciate about seems it Okay. you're next got next of what's -- mean tight XX:XX that's take do quarter concerned like just extremely is, it in a of can concerned little is what that. quarter. from hearing. nUVo to And you the think -- sale Because make this

James Tu

think, which if exciting technology the I our created XX:XX I company. with have said, these Historically And look today, that go unique going we the soon. just back at very product are if to for we again, products phase the are lines significant to I launched be of pretty think you what have company Sure. IP potential I developed, it's a

need potential. we ready raise have the to being able key capital, is But that products if grow I to the have the So, to think we are capital. we the and realize --

are investors willing the to So operation. fund

Unidentified Analyst

but you. it’s Being hard. Thank patient, XX:XX

James Tu

XX:XX I’m like you.

Operator

XX:XX comments. to Thank at time. There closing back this are questions you. further I the no for would management like over turn to floor any

James Tu

first you. XX:XX conference earnings later Thank good for a again progress in reporting twenty day. Have one participation forward quarter. for Thanks for call our the your look we to and twenty the the

Operator

concludes This XX:XX today's conference.

You at your may XX:XX I lines time. you for disconnect Thank this your participation.

Energy Focus (EFOI) 12 Nov 212021 Q3 Earnings call transcript