ENERGY FOCUS, INC/DE

Energy Focus, Inc. entered into a Securities Purchase Agreement on May 29, 2026, with Euka Power Japan Co., Ltd. The company agreed to issue and sell 65,789 shares of its common stock in a private placement for a total of $250,000. The shares were sold at $3.80 per share, which was the closing price on the day prior to the agreement. This unregistered sale was conducted under an exemption from the Securities Act.

Energy Focus, Inc. reported a significant improvement in its first-quarter 2026 financial results, with net sales increasing by 54% to $0.95 million and net loss narrowing to $0.14 million from $0.27 million in the prior year. The company also generated $0.07 million in cash from operating activities, a substantial turnaround from a cash outflow in Q1 2025. Despite these improvements, the company continues to face substantial doubt about its ability to continue as a going concern and is actively seeking additional financing, especially given a new $1.1 million joint venture investment commitment in Japan.

Energy Focus, Inc. reported a 54.1% increase in net sales to $0.9 million for the first quarter of 2026, driven by improved demand in both military and commercial markets. The company's net loss narrowed to $0.1 million, or $(0.02) per share, from $0.3 million, or $(0.05) per share, in the prior year's quarter. However, gross profit margin declined to 23.3% from 31.5% due to increased inventory reserves and tariff impacts. The company also highlighted a recent investment in Japan for energy infrastructure expansion but noted that executing these plans depends on securing additional capital and managing liquidity constraints.

Energy Focus, Inc. filed its definitive proxy statement for its Annual Meeting of Stockholders, scheduled virtually for June 12, 2026. Stockholders of record as of April 15, 2026, are invited to vote on the election of seven directors and the ratification of GBQ Partners LLC as the independent registered public accounting firm for the fiscal year ending December 31, 2026. The company had 6,303,433 shares of common stock and 876,447 shares of Series A Convertible Preferred Stock outstanding as of the record date.

Energy Focus, Inc. announced a joint investment with Japan's Meihodo Co., Ltd. and Euka Power Japan Co., Ltd. in an energy storage power plant project located in Asakura, Fukuoka. EFOI holds a 35% stake and will play a lead role in battery procurement and related energy management functions. This strategic entry positions the company to participate in Japan's power regulation market.

Energy Focus, Inc. announced a joint investment with Japan's Meihodo Co., Ltd. and Euka Power Japan Co., Ltd. in an energy storage power plant project located in Asakura, Fukuoka. EFOI holds a 35% stake and will play a lead role in battery procurement and energy management. This strategic entry positions the company to participate in Japan's valuable power regulation market.