2022 Q3 Form 10-Q Financial Statement

#000149315222022198 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.783M $1.621M $1.751M
YoY Change 4.51% 0.62% 2.7%
Cost Of Revenue $568.0K $375.0K $493.0K
YoY Change 22.41% -3.6% -0.4%
Gross Profit $1.215M $1.246M $1.258M
YoY Change -2.17% 1.96% 3.97%
Gross Profit Margin 68.14% 76.87% 71.84%
Selling, General & Admin $1.198M $1.205M $1.182M
YoY Change 15.41% 15.64% 17.5%
% of Gross Profit 98.6% 96.71% 93.96%
Research & Development $227.0K $212.0K $198.0K
YoY Change 26.82% 21.14% 11.24%
% of Gross Profit 18.68% 17.01% 15.74%
Depreciation & Amortization $36.00K $29.00K $20.00K
YoY Change 89.47% 31.82% 11.11%
% of Gross Profit 2.96% 2.33% 1.59%
Operating Expenses $1.425M $1.468M $1.380M
YoY Change 17.09% 20.62% 16.55%
Operating Profit -$210.0K -$222.0K -$122.0K
YoY Change -940.0% -4540.0% -569.23%
Interest Expense $0.00 -$1.000K $0.00
YoY Change 0.0% -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$210.0K -$223.0K -$122.0K
YoY Change -940.0% -5675.0% -654.55%
Income Tax
% Of Pretax Income
Net Earnings -$210.0K -$223.0K -$122.0K
YoY Change -1013.04% -11250.0% -654.55%
Net Earnings / Revenue -11.78% -13.76% -6.97%
Basic Earnings Per Share -$0.01 -$0.01 $0.00
Diluted Earnings Per Share -$5.290K -$5.619K -$3.099K
COMMON SHARES
Basic Shares Outstanding 39.69M shares 39.69M shares 39.69K shares
Diluted Shares Outstanding 39.70M shares 39.69M shares 39.69K shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.124M $1.259M $1.784M
YoY Change -44.25% -35.6% -9.63%
Cash & Equivalents $1.124M $1.259M $1.784M
Short-Term Investments
Other Short-Term Assets $258.0K $221.0K $1.059M
YoY Change -72.26% -74.94% 22.71%
Inventory $903.0K $915.0K $674.0K
Prepaid Expenses
Receivables $917.0K $584.0K $820.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.064M $3.837M $4.337M
YoY Change -3.58% -1.77% 16.37%
LONG-TERM ASSETS
Property, Plant & Equipment $675.0K $687.0K $1.030M
YoY Change -21.14% -4.58% 41.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $202.0K $178.0K $980.0K
YoY Change -74.33% -74.61% 57.3%
Total Long-Term Assets $2.010M $1.986M $2.010M
YoY Change 22.34% 39.76% 48.67%
TOTAL ASSETS
Total Short-Term Assets $4.064M $3.837M $4.337M
Total Long-Term Assets $2.010M $1.986M $2.010M
Total Assets $6.074M $5.823M $6.347M
YoY Change 3.69% 9.31% 24.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $373.0K $340.0K $516.0K
YoY Change -2.61% 22.74% 73.15%
Accrued Expenses $157.0K $156.0K $336.0K
YoY Change -52.57% -50.94% 15.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $4.604M $4.292M $4.539M
YoY Change 9.57% 11.02% 19.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.415M $2.286M $2.361M
YoY Change 16.72% 19.06% 33.84%
Total Long-Term Liabilities $2.415M $2.286M $2.361M
YoY Change 16.72% 19.06% 33.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.604M $4.292M $4.539M
Total Long-Term Liabilities $2.415M $2.286M $2.361M
Total Liabilities $7.019M $6.578M $6.908M
YoY Change 11.8% 13.57% 24.09%
SHAREHOLDERS EQUITY
Retained Earnings -$101.2M -$101.0M
YoY Change
Common Stock $103.3M $103.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.036M $3.036M
YoY Change
Treasury Stock Shares 801.9K shares 801.9K shares
Shareholders Equity -$951.0K -$762.0K -$561.0K
YoY Change
Total Liabilities & Shareholders Equity $6.074M $5.823M $6.347M
YoY Change 3.69% 9.31% 24.97%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$210.0K -$223.0K -$122.0K
YoY Change -1013.04% -11250.0% -654.55%
Depreciation, Depletion And Amortization $36.00K $29.00K $20.00K
YoY Change 89.47% 31.82% 11.11%
Cash From Operating Activities -$117.0K -$415.0K $221.0K
YoY Change -148.75% -2866.67% 225.0%
INVESTING ACTIVITIES
Capital Expenditures -$23.00K -$110.0K -$159.0K
YoY Change -87.15% 223.53% 1887.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$23.00K -$110.0K -$159.0K
YoY Change -87.15% 223.53% 1887.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.000K 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -117.0K -415.0K 221.0K
Cash From Investing Activities -23.00K -110.0K -159.0K
Cash From Financing Activities 5.000K 0.000 0.000
Net Change In Cash -135.0K -525.0K 62.00K
YoY Change -321.31% 2663.16% -169.66%
FREE CASH FLOW
Cash From Operating Activities -$117.0K -$415.0K $221.0K
Capital Expenditures -$23.00K -$110.0K -$159.0K
Free Cash Flow -$94.00K -$305.0K $380.0K
YoY Change -122.43% -722.45% 400.0%

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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
21000 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-459000 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-459000 usd
us-gaap Profit Loss
ProfitLoss
-345000 usd
us-gaap Profit Loss
ProfitLoss
26000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
48000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
37000 usd
ACFN Impairment Of Software
ImpairmentOfSoftware
51000 usd
ACFN Noncash Lease Expense
NoncashLeaseExpense
59000 usd
ACFN Noncash Lease Expense
NoncashLeaseExpense
59000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
53000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
36000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-292000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
98000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
298000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
127000 usd
ACFN Increase Decrease In Deferred Cost Of Goods Sold
IncreaseDecreaseInDeferredCostOfGoodsSold
117000 usd
ACFN Increase Decrease In Deferred Cost Of Goods Sold
IncreaseDecreaseInDeferredCostOfGoodsSold
33000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-18000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-125000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-95000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
242000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
165000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-62000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-60000 usd
ACFN Increase In Other Current Liabilities And Noncurrent Liabilities
IncreaseInOtherCurrentLiabilitiesAndNoncurrentLiabilities
-9000 usd
ACFN Increase In Other Current Liabilities And Noncurrent Liabilities
IncreaseInOtherCurrentLiabilitiesAndNoncurrentLiabilities
-1000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-194000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
83000 usd
us-gaap Payments For Software
PaymentsForSoftware
266000 usd
us-gaap Payments For Software
PaymentsForSoftware
42000 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
3000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-269000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-42000 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
-149000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-149000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-463000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-108000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1722000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2063000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1259000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1955000 usd
us-gaap Interest Paid Net
InterestPaidNet
1000 usd
us-gaap Interest Paid Net
InterestPaidNet
4000 usd
ACFN Accrued Preferred Dividends
AccruedPreferredDividends
2000 usd
ACFN Accrued Preferred Dividends
AccruedPreferredDividends
2000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_804_eus-gaap--NatureOfOperations_zt9ZetwORwsh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1— <span id="xdx_821_zlhdzDsWG1Cd">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements of Acorn Energy, Inc. and its subsidiaries, OmniMetrix, LLC and OMX Holdings, Inc. (collectively, “Acorn” or “the Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six- and three-month periods ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. All dollar amounts are rounded to the nearest thousand and, thus, are approximate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission on March 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_843_eus-gaap--UseOfEstimates_zulZgGtw5ehi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zn87Q8OoEID3">Use of Estimates in Preparation of Financial Statements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the unaudited condensed unaudited consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As applicable to these unaudited condensed consolidated financial statements, the most significant estimates and assumptions relate to uncertainties with respect to income taxes, inventories, account receivable allowances, contingencies, revenue recognition, management’s projections and analyses of the possible impairments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zHHWa5MO7o2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_z8k5kauSmHhe">Concentrations of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and trade accounts receivable. The Company’s cash was deposited with a U.S. bank and amounted to $<span id="xdx_902_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pp0p0_c20220630_z70PG5zxQZ3a" title="Cash and cash equivalents">1,259,000</span> at June 30, 2022. The Company does not believe there is significant risk of non-performance by these counterparties. For the three- and six-month periods ended June 30, 2022, there were no customers that represented greater than <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--RangeAxis__srt--MinimumMember_zyvT2vAmnkrh" title="Concentration risk, percentage">10</span>% of the Company’s total invoiced sales or of our accounts receivable at June 30, 2022. Credit risk with respect to the balance of trade receivables is generally diversified due to the number of entities comprising the Company’s customer base.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1259000 usd
us-gaap Net Income Loss
NetIncomeLoss
-346000 usd
us-gaap Net Income Loss
NetIncomeLoss
22000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-223000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
2000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39688000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39688000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39688000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39688000 shares
ACFN Weighted Average Number Of Shares Outstanding Warrants
WeightedAverageNumberOfSharesOutstandingWarrants
27000 shares
CY2021Q2 ACFN Weighted Average Number Of Shares Outstanding Warrants
WeightedAverageNumberOfSharesOutstandingWarrants
27000 shares
ACFN Weighted Average Number Of Shares Outstanding Stock Option
WeightedAverageNumberOfSharesOutstandingStockOption
199000 shares
CY2021Q2 ACFN Weighted Average Number Of Shares Outstanding Stock Option
WeightedAverageNumberOfSharesOutstandingStockOption
221000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39688000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39914000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39688000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39936000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2022Q2 ACFN Working Capital
WorkingCapital
455000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1259000 usd
CY2022Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
3642000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-463000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-269000 usd
ACFN Income Loss From Subsidiary Operations
IncomeLossFromSubsidiaryOperations
565000 usd
CY2022Q2 us-gaap Cash
Cash
1143000 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
126000 usd
CY2022Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.045 pure
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
390000 usd
CY2022Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.045 pure
ACFN Cash Paid For Operating Lease Liabilities
CashPaidForOperatingLeaseLiabilities
62000 usd
ACFN Cash Paid For Operating Lease Liabilities
CashPaidForOperatingLeaseLiabilities
60000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M23D
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
126000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
129000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
131000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
33000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
419000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
29000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
390000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
111000 usd
CY2021Q3 ACFN Sublease Payments
SubleasePayments
2375 usd
CY2021Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
7000 usd
CY2021Q3 ACFN Estimated Sublease Payments
EstimatedSubleasePayments
6700 usd
CY2022Q2 ACFN Finance Lease Liability Sublease Payments Due Rolling Next Twelve Months
FinanceLeaseLiabilitySubleasePaymentsDueRollingNextTwelveMonths
26000 usd
CY2022Q2 ACFN Finance Lease Liability Sublease Payments Rolling Due Year Two
FinanceLeaseLiabilitySubleasePaymentsRollingDueYearTwo
26000 usd
CY2022Q2 ACFN Finance Lease Liability Sublease Payments Rolling Due Year Three
FinanceLeaseLiabilitySubleasePaymentsRollingDueYearThree
26000 usd
CY2022Q2 ACFN Finance Lease Liability Sublease Payments Rolling Due Year Four
FinanceLeaseLiabilitySubleasePaymentsRollingDueYearFour
7000 usd
CY2022Q2 ACFN Finance Lease Liability Sublease Payments Due
FinanceLeaseLiabilitySubleasePaymentsDue
85000 usd
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
39687589 shares
us-gaap Gross Profit
GrossProfit
2432000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
37000 usd
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
114000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
833020 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.39
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y8M12D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
291000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
145770 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.55
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
978790 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.41
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y7M6D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
126000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
737579 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.38
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
114000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.018 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y10M24D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.936 pure
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
59000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segments
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3372000 usd
us-gaap Gross Profit
GrossProfit
2504000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
49000 usd
ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
217000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3316000 usd
ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
493000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1621000 usd
CY2022Q2 us-gaap Gross Profit
GrossProfit
1246000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29000 usd
CY2022Q2 ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
49000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1611000 usd
CY2021Q2 us-gaap Gross Profit
GrossProfit
1222000 usd
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22000 usd
CY2021Q2 ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
230000 usd
ACFN Segment Income Before Income Taxes
SegmentIncomeBeforeIncomeTaxes
51000000 usd
CY2022Q2 ACFN Segment Income Before Income Taxes
SegmentIncomeBeforeIncomeTaxes
51000000 usd
ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
217000 usd
ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
493000 usd
CY2022Q2 ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
49000 usd
CY2021Q2 ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
230000 usd
ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-510000 usd
ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-467000 usd
CY2022Q2 ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-220000 usd
CY2021Q2 ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-226000 usd
ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
-293000 usd
ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
26000 usd
CY2022Q2 ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
-171000 usd
CY2021Q2 ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
4000 usd
ACFN Segment Income Before Income Taxes
SegmentIncomeBeforeIncomeTaxes
51000000 usd
CY2022Q2 ACFN Segment Income Before Income Taxes
SegmentIncomeBeforeIncomeTaxes
51000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3372000 usd
dei Entity Central Index Key
EntityCentralIndexKey
0000880984
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3316000 usd
dei Amendment Flag
AmendmentFlag
false
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1621000 usd
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1611000 usd
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Entity File Number
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001-33886
dei Entity Registrant Name
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ACORN ENERGY, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
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22-2786081
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1000 N West Street
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Suite 1200
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Wilmington
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DE
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19801
dei City Area Code
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410
dei Local Phone Number
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654-3315
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us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_804_eus-gaap--NatureOfOperations_zt9ZetwORwsh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1— <span id="xdx_821_zlhdzDsWG1Cd">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements of Acorn Energy, Inc. and its subsidiaries, OmniMetrix, LLC and OMX Holdings, Inc. (collectively, “Acorn” or “the Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six- and three-month periods ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. All dollar amounts are rounded to the nearest thousand and, thus, are approximate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission on March 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_843_eus-gaap--UseOfEstimates_zulZgGtw5ehi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zn87Q8OoEID3">Use of Estimates in Preparation of Financial Statements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the unaudited condensed unaudited consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As applicable to these unaudited condensed consolidated financial statements, the most significant estimates and assumptions relate to uncertainties with respect to income taxes, inventories, account receivable allowances, contingencies, revenue recognition, management’s projections and analyses of the possible impairments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zHHWa5MO7o2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_z8k5kauSmHhe">Concentrations of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and trade accounts receivable. The Company’s cash was deposited with a U.S. bank and amounted to $<span id="xdx_902_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pp0p0_c20220630_z70PG5zxQZ3a" title="Cash and cash equivalents">1,259,000</span> at June 30, 2022. The Company does not believe there is significant risk of non-performance by these counterparties. For the three- and six-month periods ended June 30, 2022, there were no customers that represented greater than <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--RangeAxis__srt--MinimumMember_zyvT2vAmnkrh" title="Concentration risk, percentage">10</span>% of the Company’s total invoiced sales or of our accounts receivable at June 30, 2022. Credit risk with respect to the balance of trade receivables is generally diversified due to the number of entities comprising the Company’s customer base.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1259000 usd
us-gaap Net Income Loss
NetIncomeLoss
-346000 usd
us-gaap Net Income Loss
NetIncomeLoss
22000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-223000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
2000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39688000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39688000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39688000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39688000 shares
ACFN Weighted Average Number Of Shares Outstanding Warrants
WeightedAverageNumberOfSharesOutstandingWarrants
27000 shares
CY2021Q2 ACFN Weighted Average Number Of Shares Outstanding Warrants
WeightedAverageNumberOfSharesOutstandingWarrants
27000 shares
ACFN Weighted Average Number Of Shares Outstanding Stock Option
WeightedAverageNumberOfSharesOutstandingStockOption
199000 shares
CY2021Q2 ACFN Weighted Average Number Of Shares Outstanding Stock Option
WeightedAverageNumberOfSharesOutstandingStockOption
221000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39688000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39914000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39688000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39936000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2022Q2 ACFN Working Capital
WorkingCapital
455000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1259000 usd
CY2022Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
3642000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-463000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-269000 usd
ACFN Income Loss From Subsidiary Operations
IncomeLossFromSubsidiaryOperations
565000 usd
CY2022Q2 us-gaap Cash
Cash
1143000 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
126000 usd
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
114000 usd
CY2022Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.045 pure
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
390000 usd
CY2022Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.045 pure
ACFN Cash Paid For Operating Lease Liabilities
CashPaidForOperatingLeaseLiabilities
62000 usd
ACFN Cash Paid For Operating Lease Liabilities
CashPaidForOperatingLeaseLiabilities
60000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M23D
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
126000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
129000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
131000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
33000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
419000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
29000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
390000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
111000 usd
CY2021Q3 ACFN Sublease Payments
SubleasePayments
2375 usd
CY2021Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
7000 usd
CY2021Q3 ACFN Estimated Sublease Payments
EstimatedSubleasePayments
6700 usd
CY2022Q2 ACFN Finance Lease Liability Sublease Payments Due Rolling Next Twelve Months
FinanceLeaseLiabilitySubleasePaymentsDueRollingNextTwelveMonths
26000 usd
CY2022Q2 ACFN Finance Lease Liability Sublease Payments Rolling Due Year Two
FinanceLeaseLiabilitySubleasePaymentsRollingDueYearTwo
26000 usd
CY2022Q2 ACFN Finance Lease Liability Sublease Payments Rolling Due Year Three
FinanceLeaseLiabilitySubleasePaymentsRollingDueYearThree
26000 usd
CY2022Q2 ACFN Finance Lease Liability Sublease Payments Rolling Due Year Four
FinanceLeaseLiabilitySubleasePaymentsRollingDueYearFour
7000 usd
CY2022Q2 ACFN Finance Lease Liability Sublease Payments Due
FinanceLeaseLiabilitySubleasePaymentsDue
85000 usd
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
39687589 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
833020 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.39
ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-467000 usd
CY2022Q2 ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-220000 usd
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y8M12D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
291000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
145770 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.55
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
978790 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.41
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y7M6D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
126000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
737579 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.38
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
114000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.018 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y10M24D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.936 pure
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
59000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segments
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3372000 usd
us-gaap Gross Profit
GrossProfit
2504000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
49000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3316000 usd
us-gaap Gross Profit
GrossProfit
2432000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
37000 usd
ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
493000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1621000 usd
CY2022Q2 us-gaap Gross Profit
GrossProfit
1246000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1611000 usd
CY2021Q2 us-gaap Gross Profit
GrossProfit
1222000 usd
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22000 usd
CY2021Q2 ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
230000 usd
ACFN Segment Income Before Income Taxes
SegmentIncomeBeforeIncomeTaxes
51000000 usd
CY2022Q2 ACFN Segment Income Before Income Taxes
SegmentIncomeBeforeIncomeTaxes
51000000 usd
ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-510000 usd
CY2021Q2 ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-226000 usd
ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
-293000 usd
ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
26000 usd
CY2022Q2 ACFN Contract With Customer Liability Recognized Cost Of Sales
ContractWithCustomerLiabilityRecognizedCostOfSales
1630000 usd
CY2022Q2 ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
-171000 usd
CY2021Q2 ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
4000 usd
ACFN Segment Income Before Income Taxes
SegmentIncomeBeforeIncomeTaxes
51000000 usd
CY2022Q2 ACFN Segment Income Before Income Taxes
SegmentIncomeBeforeIncomeTaxes
51000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3372000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3316000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1621000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1611000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5393000 usd
ACFN Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
3225000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-2983000 usd
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5635000 usd
CY2022Q2 ACFN Contract With Customer Liability Revenue Additions In Year One
ContractWithCustomerLiabilityRevenueAdditionsInYearOne
3642000 usd
CY2022Q2 ACFN Contract With Customer Liability Revenue Additions In Year Two
ContractWithCustomerLiabilityRevenueAdditionsInYearTwo
1574000 usd
CY2022Q2 ACFN Contract With Customer Liability Revenue Additions In Year Three
ContractWithCustomerLiabilityRevenueAdditionsInYearThree
419000 usd
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5635000 usd
CY2021Q4 us-gaap Deferred Sales Inducements Net
DeferredSalesInducementsNet
1513000 usd
ACFN Contract With Customer Liability Additions Net Of Adjustments
ContractWithCustomerLiabilityAdditionsNetOfAdjustments
601000 usd
ACFN Contract With Customer Liability Sales Recognized
ContractWithCustomerLiabilitySalesRecognized
-484000 usd
CY2022Q2 us-gaap Deferred Sales Inducements Net
DeferredSalesInducementsNet
1630000 usd
CY2022Q2 ACFN Contract With Customer Liability Recognized Cost Of Sales In Year One
ContractWithCustomerLiabilityRecognizedCostOfSalesInYearOne
858000 usd
CY2022Q2 ACFN Contract With Customer Liability Recognized Cost Of Sales In Year Two
ContractWithCustomerLiabilityRecognizedCostOfSalesInYearTwo
581000 usd
CY2022Q2 ACFN Contract With Customer Liability Recognized Cost Of Sales In Year Three
ContractWithCustomerLiabilityRecognizedCostOfSalesInYearThree
191000 usd
CY2021Q4 ACFN Contract With Customer Asset Sale Commission
ContractWithCustomerAssetSaleCommission
295000 usd
ACFN Contract With Customer Asset Additions
ContractWithCustomerAssetAdditions
114000 usd
us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
84000 usd
CY2022Q2 ACFN Contract With Customer Asset Sale Commission
ContractWithCustomerAssetSaleCommission
325000 usd

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