EFOI

EX-99.1

2 ex991efoi2q2026earningsrel.htm

EX-99.1

Document

Exhibit 99.1

Energy Focus, Inc. Reports Second Quarter 2026 Financial Results

SOLON, Ohio, August 11, 2026 -- Energy Focus, Inc. (NASDAQ: EFOI) (the “Company” or “Energy Focus”), a leader in sustainable, energy-efficient lighting and control system products for the commercial market and military maritime market (“MMM”), today announced its financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial Highlights:

•Net sales of $3.7 million, an increase of 228.0% compared with the second quarter of 2025, reflecting an increase of approximately $1.1 million, or 328.4%, of growth in military sales period-over-period and an increase of approximately $1.5 million, or 191.6%, of growth in commercial sales. Sequentially, net sales increased 295.0% compared with the first quarter of 2026, primarily reflecting increases of approximately $1.9 million in commercial sales and $0.9 million in military sales. The net sales increase in the second quarter was primarily driven by higher commercial sales resulting from initial shipments under the Energy Storage Systems (“ESS”) business to a new customer in Australia, together with increased sales of MMM products due to improved demand compared to the prior year period.

•Gross profit margin was (6.8)% in the second quarter of 2026, compared with 12.9% in the second quarter of 2025 and 23.3% in the first quarter of 2026. The decrease was primarily driven by an increase in inventory reserves.

•Loss from operations of $0.9 million in the second quarter of 2026, compared with $0.2 million in the second quarter of 2025 and $0.1 million in the first quarter of 2026. The higher loss from operations was primarily due to higher allowance for credit losses and business travel expenses.

•Net loss was $0.9 million, or $(0.14) per basic and diluted share of common stock, in the second quarter of 2026, compared with a net loss of $0.2 million, or $(0.04) per basic and diluted share, in the second quarter of 2025 and a net loss of $0.1 million, or $(0.02) per basic and diluted share, in the first quarter of 2026

•Cash was $1.1 million as of June 30, 2026, unchanged from December 31, 2025 and up from $0.5 million as of June 30, 2025. The increase was primarily due to proceeds of $0.9 million from short-term borrowings, partially offset by a $0.4 million cash advance related to an investment in a joint venture.

•On May 29, 2026, the Company entered into a securities purchase agreement with Euka Power Japan Co., Ltd., pursuant to which the Company agreed to issue and sell, in a private placement, an aggregate of 65,789 shares of its common stock, par value $0.0001 per share, for a purchase price of $3.80 per share, for aggregate gross proceeds of approximately $250,000 (the “May 2026 Private Placement”). Additional details regarding the May 2026 Private Placement are available in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 3, 2026.

Second Quarter 2026 Financial Results:

Net sales were $3.7 million in the second quarter of 2026, an increase of $2.6 million, or 228.0%, compared with $1.1 million in the second quarter of 2025. The increase primarily reflected a $1.5 million, or 191.6%, increase in

32000 Aurora Road, Solon, OH 44139        • www.energyfocus.com        • 800.327.7877

commercial sales, driven by initial shipments to a new customer in Australia through the ESS business, and a $1.1 million, or 328.4%, increase in MMM product sales due to improved demand compared with the prior-year period.

Gross loss was $0.3 million, representing a gross margin of (6.8)% of net sales, in the second quarter of 2026, compared with gross profit of $0.1 million, representing a gross margin of 12.9% in the second quarter of 2025. The year-over-year decrease in gross profit margin was primarily attributable to increased inventory reserves.

Adjusted gross margin, as defined under “Non-GAAP Measures” below, was 4.5% in the second quarter of 2026, compared with 16.7% in the second quarter of 2025. The decrease was primarily attributable to lower variable margins in the second quarter of 2026. Sequentially, adjusted gross margin decreased from 31.0% in the first quarter of 2026 to 4.5% in the second quarter of 2026, representing a decrease of 26.5 percentage points. The decline was primarily attributable to a less favorable product mix and higher inventory reserves recognized during the quarter.

Operating loss was $0.9 million in the second quarter of 2026, an increase of $0.6 million compared with operating loss of $0.2 million in the second quarter of 2025, and an increase of $0.7 million compared with $0.1 million in the first quarter of 2026. The year-over-year and sequential increases were primarily due to higher allowance for credit losses and increase in business travel expenses. Net loss was $0.9 million, or $(0.14) per basic and diluted

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.e618d017.1784724293.78360f8

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

efoi-202511120000924168FALSEENERGY FOCUS, INC/DE00009241682025-11-122025-11-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): November 12, 2025

ENERGY FOCUS, INC.

(Exact name of registrant as specified in its charter) Delaware 001-36583 94-3021850 (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification Number)

32000 Aurora Road Suite BSolon,OH44139 (Address of principal executive offices)(Zip Code)

(440) 715-1300 (Registrant’s telephone number, including area code)

Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $0.0001 per shareEFOIThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On November 12, 2025, Energy Focus, Inc. a Delaware corporation, issued an earnings release announcing its financial results for the three and nine months ended September 30, 2025, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

This information, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and will not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits.

(d)    Exhibits.

Exhibit NumberDescription

99.1Earnings Release Dated November 12, 2025

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: November 12, 2025

ENERGY FOCUS, INC.

By: /s/ Chiao Chieh Jay Huang

Name:Chiao Chieh Jay Huang Title:Chief Executive Officer