Sunworks, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 09, 2022 at 09:02 am EDT
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Sunworks, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 36.4 million compared to USD 32.09 million a year ago. Net loss was USD 7.59 million compared to USD 1.87 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.23 compared to USD 0.07 a year ago.
For the six months, sales was USD 67.59 million compared to USD 38.26 million a year ago. Net loss was USD 15.79 million compared to USD 6.68 million a year ago. Basic loss per share from continuing operations was USD 0.51 compared to USD 0.26 a year ago. Diluted loss per share from continuing operations was USD 0.51 compared to USD 0.26 a year ago.
Sunworks, Inc. provides photovoltaic (PV) and battery-based power and storage systems for residential and commercial markets. The Company's commercial projects include commercial, agricultural, industrial, and public works projects. It operates through three segments: Residential Solar, Commercial Solar Energy, and Corporate. Residential Solar segment designs, arrange finances, integrates, installs, and manages systems, primarily for residential homeowners. The Commercial Solar Energy segment designs, arrange finances, integrates, installs, and manages systems ranging in size from 50kW (kilowatt) to multi-MW (megawatt) systems primarily for larger commercial and public works projects. Its commercial installations include installations at office buildings, manufacturing plants, warehouses, service stations, churches, and agricultural facilities such as farms, wineries, and dairies. Its public works installations include school districts, federal facilities and local municipalities.