EFOI on Nasdaq

ENERGY FOCUS, INC/DE

Energy Focus specializes in designing, developing, manufacturing, and selling energy-efficient lighting systems and controls.4 From its latest annual report

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Last updated Oct 19, 2026.

Overview

Compare with CCSC Technology International Holdings Ltd, ORION ENERGY SYSTEMS, INC. or CAPSTONE COMPANIES, INC., or pick any stock.

  • TickerEFOI on Nasdaq2
  • IndustryElectric Lighting & Wiring Equipment2
  • HeadquartersSolon, United States2
  • Incorporated inOH3
  • Business address32000 Aurora Road, Suite B, Solon, Oh 441393
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI549300WYLQHXWY3CWZ382
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 41861082

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Energy Focus specializes in designing, developing, manufacturing, and selling energy-efficient lighting systems and controls. We provide high-quality LED lighting solutions for both commercial and military maritime markets (MMM), helping our customers improve energy efficiency, productivity, and wellness through advanced LED retrofit products.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

18.9%Gross margin5
-28.8%Operating margin5
-28.1%Net margin6
-26.7%Revenue growth, 20255
-24.3%Return on equity5
-$1.5MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Government Products brought in 56% of the revenue ENERGY FOCUS, INC/DE broke down this way in fiscal 2025.

  1. Government Products$2.0M556%down 43% from 2024
  2. Pool And Commercial Products$1.5M543%up 11% from 2024
  3. Setup Service$35.0K51%
Products and services by year
Products and services20242025
Government Products$3.5M$2.0M
Pool And Commercial Products$1.4M$1.5M
Setup Service$0$35.0K

Regions

United States brought in 73% of the revenue ENERGY FOCUS, INC/DE broke down this way in fiscal 2025.

  1. United States$3.0M573%down 39% from 2024
  2. Rest of the world$593.0K515%up 4842% from 2024
  3. Taiwan$500.0K512%
Regions by year
Regions20242025
United States$4.8M$3.0M
Rest of the world$12.0K$593.0K
Taiwan$500.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue63¢$2.9M
  • Research and development9¢$412.0K
  • Selling, general and admin28¢$1.3M

Out of $3.6M in revenue.56 The company lost money this year.

Financial statements

Revenue78910115$3.6M in 2025−72% since 2019
0$5.0M$10.0M$15.0M$20.0M2019: $12.7M$12.7M20192020: $16.8M$16.8M2020+32%2021: $9.9M$9.9M2021−41%2022: $6.0M$6.0M2022−40%2023: $5.7M$5.7M2023−4%2024: $4.9M$4.9M2024−15%2025: $3.6M$3.6M2025−27%
Gross profit78910115$672.0K in 2025−66% since 2019
-$2.0M0$2.0M$4.0M$6.0M2019: $2.0M$2.0M20192020: $5.2M$5.2M2020+163%2021: $1.7M$1.7M2021−67%2022: -$318.0K-$318.0K20222023: $223.0K$223.0K20232024: $699.0K$699.0K2024+213%2025: $672.0K$672.0K2025−4%
Operating income78910115-$1.0M in 2025−85% since 2019
-$10.0M-$7.5M-$5.0M-$2.5M02019: -$7.0M-$7.0M20192020: -$4.1M-$4.1M2020−41%2021: -$8.7M-$8.7M2021+114%2022: -$9.3M-$9.3M2022+7%2023: -$4.0M-$4.0M2023−57%2024: -$1.8M-$1.8M2024−54%2025: -$1.0M-$1.0M2025−44%
Net income789101156-$1.0M in 2025−86% since 2019
-$15.0M-$10.0M-$5.0M02019: -$7.4M-$7.4M20192020: -$6.0M-$6.0M2020−19%2021: -$7.9M-$7.9M2021+32%2022: -$10.3M-$10.3M2022+30%2023: -$4.3M-$4.3M2023−58%2024: -$1.6M-$1.6M2024−63%2025: -$1.0M-$1.0M2025−37%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Net sales$3.6M$4.9M
Cost of sales$2.9M$4.2M
Gross profit$672.0K$699.0K
Product development$412.0K$524.0K
Selling, general, and administrative$1.3M$2.0M
Total operating expenses$1.7M$2.5M
Loss from operations-$1.0M-$1.8M
Interest income-$2.0K$0
Interest expense$0$5.0K
Gain on debt extinguishment$0-$187.0K
Gain on partial lease termination-$2.0K-$63.0K
Gain on disposal of fixed assets-$3.0K$0
Other income$0-$27.0K
Other expenses$10.0K$12.0K
Loss from operations before income taxes-$1.0M-$1.6M
Provision for income taxes$0$0
Net loss-$1.0M-$1.6M
Net loss, basic (in dollars per share)-$0.18-$0.32
Net loss, diluted (in dollars per share)-$0.18-$0.32
Basic (in shares)5.6M shares4.9M shares
Diluted (in shares)5.6M shares4.9M shares

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Leadership

Who has led ENERGY FOCUS, INC/DE, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John Davenport2008
  2. Joseph G. Kaveski2008–2013
  3. Eric Hilliard2013
  4. James Tu2014–2021
  5. Ted Tewksbury2017–2019
  6. Stephen Socolof2022
  7. Lesley A. Matt2022–2023
  8. Chiao Chieh Huang2025–now

Chair

  1. James Tu2013–2021
  2. Ted Tewksbury2016–2019
  3. Stephen Socolof2022

President

  1. John Davenport2008–2012
  2. Eric Hilliard2013–2016
  3. Ted Tewksbury2017–2019
  4. James Tu2019
  5. Tod A. Nestor2019–2021

Chief financial officer

  1. Robert A. Connors2006
  2. Nicholas G. Berchtold2007–2011
  3. Mark J. Plush2011–2013
  4. Frank Lamanna2013–2014
  5. Marcia Jean Miller2015–2016
  6. Michael Harry Port2016–2018
  7. Bradley Brian White2016–2017
  8. Jerry Turin2018–2019
  9. James Tu2019
  10. Tod A. Nestor2019–2022

Chief operating officer

  1. Eric Hilliard2009–2016
  2. Tod A. Nestor2022
2010201520202025
Board members and other officers (44)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Senior Vice President and General CounselJames Warren named Dec 28, 2021 to Jun 17, 202280

Former names

  • FIBERSTARS INC /CA/Aug 14, 1996 to May 30, 20073

Timeline

  1. Jun 23, 2025New chief executive Chiao Chieh Huang becomes CEO13
  2. Sep 20, 2022New chief executive Lesley A. Matt becomes CEO15
  3. Feb 15, 2022New chief executive Stephen Socolof becomes CEO14
  4. Feb 28, 2017New chief executive Ted Tewksbury becomes CEO16
  5. Jan 30, 2014New chief executive James Tu becomes CEO17
  6. Feb 27, 2013New chief executive Eric Hilliard becomes CEO18
  7. May 16, 2008New chief executive Joseph G. Kaveski becomes CEO20
  8. Mar 18, 2008New chief executive John Davenport becomes CEO19

Filings

171 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 65 major events, 44 insider forms, 6 large holders, 2 private raises, 34 other. The latest 20:

  1. Aug 11, 202610-Q EDGAR
  2. Aug 11, 20268-K EDGAR
  3. Jun 17, 20268-K EDGAR
  4. Jun 3, 20268-K EDGAR
  5. May 12, 202610-Q EDGAR
  6. May 12, 20268-K EDGAR
  7. Apr 28, 2026DEF 14A EDGAR
  8. Apr 14, 20268-K EDGAR
  9. Mar 30, 20268-K EDGAR
  10. Mar 24, 202610-K EDGAR
  11. Mar 24, 20268-K EDGAR
  12. Dec 31, 20254 EDGAR
  13. Dec 31, 2025SCHEDULE 13D EDGAR
  14. Dec 2, 20258-K EDGAR
  15. Nov 12, 2025S-8 EDGAR
  16. Nov 12, 202510-Q EDGAR
  17. Nov 12, 20258-K EDGAR
  18. Aug 19, 20254 EDGAR
  19. Aug 19, 20258-K EDGAR
  20. Aug 14, 20258-K EDGAR

The 171 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 26, 2025Huang Chiao ChiehChief Executive OfficerBuy262,009$2.29$600.0KForm 4
Aug 15, 2025Huang Chiao ChiehChief Executive OfficerBuy264,550$1.89$500.0KForm 4
Jun 23, 2025Huang Chiao ChiehChief Executive OfficerBuy110,497$1.81$200.0KForm 4
Mar 27, 2025Huang Chiao ChiehChief Executive OfficerBuy103,627$1.93$200.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jun 3, 2022Raised $3.5 million in a private offering of equity Form D: 3 investors so far Form D
  2. Dec 13, 2021Raised $4.5 million in a private offering of equity Form D: 7 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC43,332$143.0K0.0%No change
Heck Capital Advisors, LLC35,297$116.5K0.0%New
Renaissance Technologies LLC33,398$110.2K0.0%+23,098
Geode Capital Management, LLC29,451$97.2K0.0%−6,144
Vanguard Fiduciary Trust Co19,745$65.2K0.0%No change
State Street Corp13,816$45.6K0.0%New
Citadel Advisors LLC12,705$41.9K0.0%New
BlackRock, Inc.3,296$10.9K0.0%No change
UBS Group AG3,256$10.7K0.0%+3,215
Tower Research Capital LLC (TRC)2,836$9.4K0.0%+871
Morgan Stanley2,463$8.1K0.0%+2,000
Royal Bank Of Canada175$1.0K0.0%+162
Fmr LLC287$9460.0%New
BankPlus Trust Department45$1490.0%No change
Federation des caisses Desjardins du Quebec8$260.0%No change
Country Trust Bank4$130.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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