Energy Focus, Inc. (EFOI)

Nasdaq: EFOI · Electric Lighting & Wiring Equipment · Solon, OH · filing with the SEC since 1996

Full chart Alerts Compare

Grade2.8

◀ Past 1.0● Present 2.7▶ Future 4.9

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Energy Focus, Inc.

Nine metrics read from its own filings, by tense

Headline grade

2.8/10

◀ Past1.030% of the headline

● Present2.740% of the headline

▶ Future4.930% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

1.0/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

2.0/10

Has it survived what it has been through?

15 warning events since 2017; the latest 2023-04-03.

weight 33% of this tense · 20th percentile among 43 sector filers · read for itself

From the record

Energy Focus, Inc.'s filings since 2017 show 15 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, 11 times, the latest 2023-04-03); an auditor change (8-K item 4.01, 2 times, the latest 2019-05-30); a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2019-08-14) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

0.4/10

What has it actually done, year after year?

-21.4% a year over 10 filed years; profitable in 0 of 10.

weight 45% of this tense · 4th percentile among 42 sector filers · read for its customers

From the record

Energy Focus, Inc.'s 10 filed years say what it did: revenue went from $31 million in fiscal 2016 to $4 million in fiscal 2025, down 21.4% a year; it rose in 1 of 9 years; the deepest fall was 89% from fiscal 2016 to fiscal 2025; net income was positive in 0 of 10 of those years (its annual reports).

What it rests on

revenue growth over the filed span-21.4%bottom 1% of its family
the share of years revenue rosebottom 1% of its family
the share of filed years with a profitbottom 8% of its family
the deepest fall from a revenue peak88.5%bottom 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

0.7/10

How has it treated the people who own it?

SI estimate 0.7/10, confidence 35 of 100 (one part).

weight 22% of this tense · 7th percentile among 40 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 7% of 40 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 40 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Energy Focus, Inc.'s shareholder treatment is put at 0.7 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 7% of 40 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

2.7/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

4.1/10

Is it financially healthy right now?

ROE -25%: lost 25¢ per shareholder dollar. Leverage 20%: owes 20¢ per asset dollar.

weight 45% of this tense · 41st percentile among 42 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Energy Focus, Inc. lost about 25 cents for every dollar of shareholders' money, and gross profitability: its products earned about 13 cents per dollar of everything the company owns. Leverage: it owed about 20 cents per dollar of assets, and net share issuance: its share count grew 12.2% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 6% of its family
return on equitybottom 24% of its family
gross profit against assetsbottom 25% of its family
the share count against the year beforebottom 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

0.8/10

How strong is its position in its industry?

bottom 9% of 42 in its family; net margin -28.8%.

weight 33% of this tense · 9th percentile among 42 sector filers · read for its customers

From the record

Energy Focus, Inc.'s standing among 42 graded names in its industry family: revenue of $4 million in fiscal 2025 ranks in the bottom 4% by size; a net margin of -28.8% ranks in the bottom 15%; revenue growth of -15.8% a year over the last 3 filed years ranks in the bottom 6% (its annual reports).

What it rests on

revenue against the family$3.6Mbottom 4% of its family
net margin-28.8%bottom 15% of its family
three-year revenue growth-15.8%bottom 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

2.4/10

What are the people in charge doing?

SI estimate 2.4/10, confidence 35 of 100 (one part).

weight 22% of this tense · 24th percentile among 34 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the chief executive's years under the title, which ranks in the bottom 24% of 34 in its family; fewer than two of the three parts can be read: officer and director changes against the people in charge, the years the people in charge have been filing, the chief executive's years under the title.
What the record cannot read: Fewer than two of the three parts can be read: officer and director changes against the people in charge, the years the people in charge have been filing, the chief executive's years under the title.
How it was reasoned: one part: the chief executive's years on the record, the one part on file, ranked among 34 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Energy Focus, Inc.'s leadership is put at 2.4 of 10 with a confidence of 35 of 100, because read from one part only, the chief executive's years under the title, which ranks in the bottom 24% of 34 in its family; fewer than two of the three parts can be read: officer and director changes against the people in charge, the years the people in charge have been filing, the chief executive's years under the title. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.9/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

5.0/10

How much room does it have to grow?

bottom 50% of 42 in its family for room to expand.

weight 45% of this tense · 50th percentile among 42 sector filers · read for itself

From the record

Energy Focus, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $1 million against no long-term debt tagged leaves 20.8% of its assets as net cash, top 21% of its family; cash from operations less capital spending is -41% of revenue (bottom 13%); a gross margin of 18.9% (bottom 20%); research spending of 11.6% of revenue (top 12%) (its annual report).

What it rests on

cash less debt against assets20.8%top 21% of its family
cash from operations less capital spending against revenue-41.0%bottom 13% of its family
gross margin18.9%bottom 20% of its family
research spending against revenue11.6%top 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.9/10

What could actually drive growth from here?

bottom 39% of 42 in its family for growth drivers.

weight 33% of this tense · 39th percentile among 42 sector filers · read for its customers

From the record

Energy Focus, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -15.8% a year over the last three filed years against -21.4% over all 10, speeding up (top 18% of its family); the newest year grew -26.8% (bottom 11%); research spending grew -34.9% a year (bottom 4%); capital spending grew 9.6% a year (top 41%) (its annual reports). Energy Focus, Inc. reported 3 product lines in fiscal 2025: Government Products at $2 million (56%), Pool and Commercial Products at $2 million (43%), Setup Service at $35 thousand (1%); 1 of 2 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span+5.6 points a yeartop 18% of its family
the newest year's revenue growth-26.8%bottom 11% of its family
three-year growth of research spending-34.9%bottom 4% of its family
three-year growth of capital spending9.6%top 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

6.1/10

Did its newest year beat what its own record pointed to?

top 39% of 42 in its family for expectations against reality.

weight 22% of this tense · 61st percentile among 42 sector filers · read for its shareholders

From the record

Energy Focus, Inc.'s newest year against its own record: revenue of $4 million in fiscal 2025 came in 18.8% below the $4 million its prior three years' pace pointed to (bottom 18% of its family); net income of $1 million against a prior three-year average of $5 million (top 27%); a net margin of -28.8% against -93.3% before (top 8%) (its annual reports).

What it rests on

revenue against the prior three years' pace-18.8%bottom 18% of its family
net income against the prior three years' average+81%top 27% of its family
net margin against its prior average+64.4 pointstop 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton EFOI · research, not advice