Acorn Energy Q1 2026 Earnings Call Transcript

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Provided by Quartr
May 7, 2026

Key Takeaways

  • Positive Sentiment: Recurring monitoring revenue grew ~11.7% YoY and gross margin improved by 510 basis points to 80.2%, with the OmniMetrix operating segment delivering $395,000 of operating income and the consolidated company remaining cash-positive and debt-free (cash ~$4.3M).
  • Negative Sentiment: Total revenue declined 28.1% YoY to $2.23M, driven by a 55.7% drop in hardware revenue after completion of a large cell‑provider contract, contributing to a Q1 net loss of $77,000.
  • Positive Sentiment: Management expects follow‑on hardware orders from that large customer of approximately $350,000–$500,000 in 2026 and expressed optimism about additional deployments that could help offset prior hardware declines.
  • Neutral Sentiment: Acorn acquired exclusive North American commercialization/distribution rights to AIO Systems products, launched an Infrastructure Solutions (IS) reporting segment with two live demo tower sites and expects AIO average sales to be ~5–6× existing product sales, but the IS business is pre‑revenue (no IS revenue expected in H1 2026) and required a $250,000 upfront payment.
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Earnings Conference Call
Acorn Energy Q1 2026
00:00 / 00:00

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Operator

Good morning, welcome to Acorn Energy's first quarter 2026 conference call. All participants are currently in listen-only mode. Following management's prepared remarks, we will open the call for questions. As a reminder, today's call is being recorded. I'll now turn the call over to Tracy Clifford, CFO of Acorn Energy and COO of its OmniMetrix subsidiary.

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

Thank you, Regina, and thank you all for joining us today. First, I'd like to remind everyone that today's remarks, including responses to questions, contain forward-looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. Factors that may impact our future operating results and financial performance include general risks such as potential disruptions to business operations or changes in consumer or customer demand, as well as specific risks related to our ability to execute our operating plan, maintain strong customer renewal rates, and expand our customer base. Additional risks may arise from changes in technology, competition, or shifts in the macroeconomic or financial environment.

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management's current beliefs, assumptions, and information that is available as of today. There can be no assurances that the company will meet its growth targets or other strategic goals and objectives. The company undertakes no obligation to update or revise such forward-looking statements to reflect future events or specific circumstances that may occur after today. For a more detailed discussion of risks and uncertainties that may affect our business, please refer to the Risk Factors section of our most recent Form 10-K and our Form 10-Q for the first quarter of 2026, which are available online at www.sec.gov or on our own website. Now, I'll turn the call over to Jan Loeb, CEO of Acorn and OmniMetrix. Jan?

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Thank you, Tracy, and to everyone for your interest in our company. Our Q1 2026 results reflect continued expansion of our base of monitoring endpoints, offset by an anticipated decrease in year-over-year hardware revenue related to our material cell phone provider contract. We recognized $93,000 of hardware revenue from this customer in Q1 2026 related to our original contract, and now hardware shipments for our initial contract are largely complete. This compares to $876,000 of hardware revenue from this customer in Q1 2025. Our Q1 2026 results also reflected $167,000 of monitoring revenue from this customer, compared to $69,000 in Q1 2025, related to first year monitoring revenues on the original contract.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Based on our ongoing dialogue with this customer, we are optimistic about securing further hardware deployments and related revenue that will build on our initial contract starting in Q2 2026. It has always been our goal to build on this customer opportunity, so this initial follow-on activity is a good indication of the strength of our relationship and the customer satisfaction with our solutions and the services we have been providing for over a year. We currently expect incremental hardware revenue from this customer in the range of $350,000-$500,000 in 2026. Tracy will... non-cash management and board compensation in Q1.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Based on our record financial performance in 2025, accomplishing our Nasdaq up-listing and the completion of the AIO partnership agreement on January first, the board approved an increase in our 2026 stock option awards to compensate management and the board in lieu of additional cash compensation or board fees. These options were issued at a market price of $19.02, so their potential value is tied directly to value creation for all shareholders. The 50,000 options issued to management vest over 12 quarters, so higher stock comp expense will have an impact on financial results through the third quarter of 2028.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

If you exclude the impact of non-cash compensation, Acorn's consolidated results would have been profitable in Q1, and the company continues to generate cash, as reflected by $53,000 of cash provided by operating activities in the quarter and the stable cash balance of $4.3 million at quarter end. In past communications, including our year-end news announcements, we have reviewed our five complementary growth initiatives, one of which is our ongoing pursuit of accretive M&A opportunities to expand our monitoring product offerings, market reach, and revenue and customer base. Through this process, we identified the AIO opportunity, which we decided to pursue as an acquisition of commercialization and distribution rights through a technology partnership. We are now actively working to bring their industry-leading, multifaceted suite of products for cell towers, data centers, and utility substations to North America for the first time.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

These Infrastructure Solutions protect against theft, power issues, environmental and other risks, and maximize energy utilization. We believe the acquisition of these rights is an ideal way to leverage our 20+ year reputation and established base of customers and substantially expand our capabilities and reach within the North American infrastructure market in a focused and highly capital-efficient way. We are currently working to finalize sales and marketing materials for the OmniMetrix branded solutions. We are initially targeting cell tower operations where we have a good base of existing customer relationships. Utilizing that experience, we will then pursue opportunities in fast-growing markets for data-driven and utility scale infrastructure management. Relative to our focus on backup generators at cell towers, this new suite of solutions provide remote oversight to the full cell tower campus.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Our solutions provide actionable insights through advanced analytics, machine learning, and comprehensive real-time monitoring that significantly reduce downtime, improve maintenance processes, and extend asset lives, lowering costs and delivering measurable ROI. Based on our initial assessments and customer discussions, we view theft as perhaps the most pressing issue facing cell tower operators today. Theft alone can potentially cost cell tower operators hundreds of millions of dollars annually and is a growing and largely unaddressed problem in the United States. As copper, fuel, and assets costs rise, it's widely expected that theft could become an even bigger risk management issue in North America, as it already is on other continents. To combat this risk, we are bringing to market the strongest available solution backed by years of proven performance.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

We are still working through final hardware and services pricing models, but given the expanded scope of the AIO solutions, we currently expect our average AIO sale to be 5-6x the average sale of existing OmniMetrix products. Given expected pricing and the scale of the opportunity provides a very meaningful growth potential for our company. We currently have our first two AIO-based tower sites live and running for customer demonstrations. For those of you who may or may not be familiar, cell towers are typically managed by independent tower companies who own and operate the physical structure and lease space to multiple wireless carriers. The two sites we are running are both in the Atlanta area with an existing telecom customer, where we are monitoring their shelter or hut within the cell tower, as well as the front gate.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Our dashboard shows everything, including stats on power systems, fuel levels, battery voltage, operating equipment, temperature, humidity, HVAC runtime, flood detection, et cetera, along with live feeds from security cameras that monitor physical access. We have secure permission to take prospective customers to these sites and expect to begin these efforts in the coming weeks. As I mentioned, we're in the process of advancing our program to launch these products in the U.S., including fine-tuning features and alerts, the sales approach, installation protocols, customer materials, as well as sales and training collateral that our team will need to scale this offering. The AIO team has been to Atlanta for several weeks to train and work with our engineering, tech support, and sales and marketing teams to set up for success in this product launch.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

In terms of our financial reporting, we have set up a separate reporting segment called Infrastructure Solutions or IS to track this line of business, which you will note in our Form 10-Q. We do not expect revenues from this segment in the first half of 2026. We continue to believe that attractive secular tailwinds should support our value propositions and growth potential for years to come. Companies are increasingly focused on ensuring reliable access to the energy infrastructure and the compliance support they need. At the same time, broader demand drivers such as AI, data centers, electrification, EV adoption, reshoring continue to strain an aging U.S. grid, compounded by severe weather trends, all of which underscore the importance of energy resilience. In March, we saw severe storms across the Midwest and Mid-Atlantic, leaving more than 1 million customers without power in the PJM and MISO territories.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Even with significant investment, it will take years, if not decades, to address these challenges, and we believe this positions us well both for the near term and longer term. Given substantial unmet needs in our current markets plus opportunities in adjacent addressable markets, we believe 20% average annual revenue growth over a three- to five-year period remains achievable. Further, our capital-light, cost-efficient, and scalable business model positions us to bring roughly 50% of each incremental revenue dollar from our existing businesses to operating income line. As a small company, large hardware shipments will make our quarterly results vary, but our high margin recurring revenue model, supported by strong secular trends, position us well to continue to deliver growth and value to our shareholders. With that, I'll turn the call over to Tracy for financial and operational insights. Tracy?

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

Thank you, Jan Loeb. The headline takeaway from our Q1 2026 results is the continued strength of our recurring monitoring revenue stream and the improved gross margin profile of the business set against a challenging year-over-year hardware comparison driven by the timing of our largest contract. I'll also point out that our OmniMetrix operating subsidiary remained solidly profitable in the quarter, delivering operating income of $395,000. We provided a fair amount of detail in today's news release and in our Form 10-Q, so I'll just touch on a few of the key highlights. Focusing on Q1 2026 versus Q1 2025. Total revenue was $2,227,000, down 28.1% from $3,098,000 in Q1 2025. The decrease was driven by a $1,019,000 or 55.7% decline in hardware revenue.

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

Partially offset by a $148,000 or 11.7% increase in monitoring revenue. Monitoring revenue grew $1,417,000, reflecting continued expansion of our installed base of monitored endpoints. Hardware revenue was $810,000, which included $556,000 of new hardware sales and $110,000 from the amortization of deferred hardware revenue. The latter compared to $315,000 in the prior year period as we approach the final recognition of the remaining deferred hardware balance later this year. Gross margin improved 510 basis points to 80.2% from 75.1% in Q1 2025, reflecting both the higher mix of monitoring revenue, which carried a 94% gross margin in the quarter, and a lower contribution from material contract hardware.

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

Operating expenses rose 11.2% to $1,914,000, driven by a $228,000 increase in SG&A, partially offset by a $36,000 reduction in R&D following completion of the new OMNI and OMNIPRO development programs. The SG&A increase was primarily due to a $136,000 increase in non-cash stock-based compensation expense related to stock option grants to officers and directors, +$111,000 in higher OmniMetrix SG&A, reflecting incremental personnel and technology investments, partially offset by lower commissions.

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

OmniMetrix segment operating income, the combined operating results of our PG, CP, and IS segments was $395,000, demonstrating the continued profitability of our core operating subsidiary, even in our seasonally lowest revenue quarter and even after absorbing approximately $50,000 of operating expense in our pre-revenue Infrastructure Solutions segment, which included the hiring of a new sales manager in February for the IS segment. On a consolidated basis, including unallocated corporate headquarters costs, we reported a net loss of $77,000 or $0.03 per basic and diluted share, compared to net income of $464,000 or $0.19 per basic and diluted share in Q1 2025. The Q1 2026 results include $197,000 of non-cash-based stock compensation expense versus $61,000 in the prior year period.

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

We recognized an income tax benefit of $25,000 in Q1 2026 compared to income tax expense of $154,000 in Q1 2025. We did not record any change to our deferred tax asset valuation allowance in the quarter. We continue to maintain a partial valuation allowance of $10.3 million, leaving a meaningful base of NOL and capital loss carryforwards to support future growth and potential M&A initiatives. Turning to the balance sheet and cash flow, we ended the quarter with cash of $4,257,000 compared to $4,454,000 at year-end 2025. Excluding deferred revenue and deferred cost of goods sold, net working capital was $6,024,000 at March 31, 2026 versus $6,184,000 at year-end. I remind you all, we remain debt-free.

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

Q1 cash flow from operations was $53,000. We also used $260,000 in investing activities, of which $250,000 represented the upfront payment for the acquisition of the exclusive commercialization and distribution rights under the AIO technology partnership agreement executed January 1st with the remainder of the other capital items. Stock option exercises generated $10,000 of financing cash inflow. OmniMetrix's deferred revenue, or what we refer to as our backlog, was $3,269,000 at quarter end, of which $2,934,000 is expected to be recognized as revenue in the next 12 months. Operationally, our next generation OMNI and OMNIPRO generator monitors and our RadEX cathodic protection product are all built on our new OCOM proprietary communications core now being deployed in the field.

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

These platforms reduce installation time, lower service costs, and enhance reliability, which strengthens our value proposition on our competitive position as we move further into 2026. Within the Infrastructure Solutions segment, as Jan mentioned, we now have two telecommunications tower sites live for customer demonstrations. We're really excited about this opportunity to bring AIO Systems solutions to North America under the OMNI brand and the broader set of growth opportunities ahead of us. I very much look forward to updating you as we progress in the coming quarters. Operator, at this time, please prepare the lines for questions. Thank you very much.

Operator

We will now begin the question-and-answer session. To ask a question, simply press star then the number one on your telephone keypad. To withdraw your question, press star one again. Please pick up your handset and ensure that your phone is not on mute when asking your question. Again, that is star one for questions. We'll pause for a moment to compile the Q&A roster. We'll take our first question from the line of Joel Sklar. Please go ahead with your question.

Analyst

Good morning, Jan and Tracy. Let me start off by saying I'm suffering with a bad head cold. If I at any point I'm inaudible or cough, please let me know and bear with me. First, just a comment in that your option package, you know, I'm an investor in a lot of other public companies, and I don't think it's in any way unreasonable given the success that OmniMetrix and Acorn has had. I think it's wonderful that the, your leadership is gonna participate in the future success of the company, and I don't think the number of options is in any way out of line. That's my opinion. Question. We've seen very long sales cycles for the OmniMetrix generator monitoring equipment.

Analyst

Given that the, your new Infrastructure Solutions, partnering with AIO are gonna maybe, you know, be even greater outlays.

Analyst

Is there a chance that we're also gonna see a very long sales cycle there? Or do you feel that the solutions that you're offering in this Infrastructure segment are so compelling and urgent that we'll see a shorter sales cycle?

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Joel, thank you very much for your comments and I hope you feel better. The answer is we're not 100% sure yet. Yes. Typically, I would say that the cell tower solution will have as long a sales cycle as our generating monitoring solution. It's just because we're dealing with, you know, large corporations, and so there's just a lot of tape to get through with large corporations. All saying that is that theft is really a very big problem that they are now beginning to address. It could be that because of the need, the sales cycle will be quicker. I just don't know yet because we haven't really started to get into the weeds with our customers.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

You know, certainly the technicians that we've spoken to in the field as we were putting up these units, they certainly feel that there's a strong and very present need for the product.

Analyst

Okay. Thank you. Good answer.

Operator

Again, for any questions, please press star followed by one on your telephone keypad. Our next question will come from the line of James Kahn. Please go ahead.

Analyst

Hi. Okay. Well, you've got a lot of new initiatives that are interesting. I just wanted to ask about, you know, you had that big sale, about a year ago to the large customer, and then they didn't renew in September. Can you just give us some background on what happened there? Was it the product that didn't really work or, why that one did not get renewed?

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Hi, James. Your basic assumptions are, need to be corrected. You know, the contract was for approximately between 5,000 and 10,000 monitoring units. They wanted us to ship it to them within a year. Initially, when we were negotiating with them, it was two years, but then they changed it. They wanted to have it all within a year. We did that. Q3, Q4 of 2024 and Q1 and Q2 of 2025, we basically shipped all the product to them. Which doesn't actually mean that that's when all the total revenue of that was recognized, because needs to go into their system, whatever. We finished that major contract, and that's that.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

What I've said in my prepared remarks here is that they have come back to us in 2026, and that I anticipate that we'll have another $350,000-$500,000 worth of equipment sales. This is not monitoring because we continue to monitor everything. You know, that's approximately, you know, call it 7%-10% of the original order, they now come back for additional stuff. I mean, they have installed the original number of units that we've sold to them, and now as they're putting it into new cell towers, they're ordering new stuff for us. We have a very good relationship with them. The product works very well.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

They're very happy with it, and they continue to be a very big and happy customer of ours.

Analyst

Okay. Well, thank you. That clears things up. I appreciate that.

Operator

Once again, to ask a question, simply press star one on your telephone keypad. We will pause for a moment to compile the Q&A roster. We will take a question from the line of Richard Sosa. Please go ahead.

Analyst

Hey, Jan, Tracy. Good morning. Another great quarter. Love seeing the monitoring re-revenue continue to trend upward. Sorry I did get on the call really late. Just on the AIO, did you guys discuss, and I can go back to the notes afterward, but did you discuss the go-to-market strategy for the product?

Jan Loeb
Jan Loeb
CEO at Acorn Energy

We mentioned it briefly. Firstly, good morning, Richard. We mentioned it briefly that our main focus is gonna be telecom-

Jan Loeb
Jan Loeb
CEO at Acorn Energy

customers because we already have them as customers, so we don't have to sell the OmniMetrix name to those customers. That's gonna be our first target. You know, we have these two demo sites up and live that we take people to. That's gonna be our first strategy. Data centers is gonna be our second strategy. AIO has a very good data center product, and that will be, you know, after telecom, we're gonna focus on data centers. Third is utility substations. That's kind of how we see it. You know, we've already put out some initial phone calls to our customers. We're working on the pricing models, CapEx model and an OpEx model that we're gonna roll out in the next few weeks.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

That's kind of our game plan.

Analyst

All right. Very exciting. You know, I noticed from the 10-Q that you did break out, you are breaking out an IS division going forward. Is that something you had to do, or did you just feel strongly enough that it was worth doing?

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Um, we thought-

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

I'll take that, Jan Loeb.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Oh, thanks. Thank you.

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

I mean, our expectation, Richard, is, you know, that this will be a material contributor moving forward. We felt like in an abundance of transparency, it was important to, you know, to carve that out from the initiation point to monitor this segment and give our shareholders the opportunity to see that, you know, from the beginning.

Analyst

Okay, that's great. You didn't have to do it. You just felt strongly enough that, you know, it was worth doing for transparency.

Tracy Clifford
Tracy Clifford
CFO at Acorn Energy

Well, from the standpoint of GAAP, you know, you evaluate whether something is material, and certainly it's not material today because, you know, the expenses we've spent so far wouldn't be material from the context of looking at it as a percentage of the total. We just felt like it will be material. That's our plan, that's our hope, that's our focus. We felt like doing that from the beginning was the right thing to do.

Analyst

Yeah, it definitely makes things easier. Perfect. All right. Well, you know, continue the good work. I look forward to future updates.

Operator

We have a follow-up from the line. Joel Sklar, please go ahead.

Analyst

Hello again, Jan and Tracy. Just a couple of quick follow-ups. One is sort of leveraging off of Richard Sosa's question. See, I was curious, this may be a little nitpicky, but your partnership with AIO Systems, is that with Acorn, the parent, or with OmniMetrix? In other words, I know the branding is gonna be OmniMetrix. I don't know whether that means it falls under OmniMetrix, and we own 99% of what we wind up getting from that partnership, or whether it's under Acorn and we get 100%. That's the first question.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

I mean, everything's gonna be done under OmniMetrix. I'll put it that way. Meaning the sales, the sales manager that we hired for AIO is under OmniMetrix and is resident in Atlanta. It's gonna be, have an OmniMetrix brand name. We view it as an OmniMetrix product.

Analyst

Your former CEO of OmniMetrix will be happy about that, I guess. The other question is, can you tell us whether I expect the answer is yes, but whether the existing AIO sales model is also a subscription model where their customers overseas, they make money from both, certainly from hardware sales, but then they also get continuing revenue from monitoring and maintenance, and whatnot.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Their model is that they mainly sell the equipment, and then they have a what they call SLA. They have this an ongoing revenue stream as well. We don't think it's gonna be as big as our monitoring revenue, 'cause we're gonna be offering you know, more services. We also, as I said, might have a OpEx model where we'll roll in the complete package, meaning equipment monitoring, et cetera, for one price, one monthly price. Our model is gonna be a little bit different than their model, because we think our market's a little bit different than the markets that they address.

Analyst

Okay, great. Thank you. At the risk of getting greedy here, just one more question. If an existing cell tower or other customer who would potentially be a customer for your generator monitoring came to you, and they wanted generator monitoring as well as your full Infrastructure Solutions, through the AIO partnership, will you be then Will you need to integrate the OmniMetrix generator monitoring? My impression is that the Infrastructure Solutions will, is, as the name of the company implies All In One, will encompass that. Can you comment on that?

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Yeah. They have their own generator monitoring solution, and we have our own generator monitoring solution. Ours is a little bit more comprehensive than theirs. We will be integrated in the software. For example, the two cell towers that we are on as the demo models happen to have our generator monitors in them, and so they are integrated into the software system of AIO.

Analyst

Right. Your customers will get the best of both worlds then. They'll get the maybe slightly more advanced and or the feature-driven, current OmniMetrix generator monitoring together with the new Infrastructure Solutions provided by AIO, if I understand correctly.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Yeah. Yeah. We hope our customers believe the same thing.

Analyst

Okay. Thank you once again, Jan.

Operator

Again, to ask a question, press star one on your telephone keypad. While we compile the roster, I will hand the call over to William Jones for any pre-submitted questions.

William Jones
Head of Investor Relations at Catalyst IR

Thank you, operator. We do have a pre-submitted question from a private investor, and the question is: Over the past two quarters, companies like Generac and Caterpillar have both reported greater than 20% year-over-year growth in their power generation segments, along with increasing backlogs, primarily selling into C&I customers in the data center market. Are you seeing any opportunity whatsoever in OmniMetrix's ability to attach itself to this opportunity? I understand that there is the AIO partnership, which in theory helps to address this market, but would be great to hear any further thoughts on this.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Sure. As I said in previous calls, we and OmniMetrix have not been focused on the data center market because our product is a remote monitor, and most of the data centers have 24/7 people on-site monitoring their equipment, their servers, etc. We only had 1 product, a generator monitor. That was not a focus of ours. With the AIO product, AIO has a full suite of products for a data center, and one of the other things we are getting with the AIO partnership is a NOC. We think that the data center market is a market that we can address, and we hope to address it shortly.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Again, as I said before, we want to first tackle the cell tower market, then we would go after the data center market.

William Jones
Head of Investor Relations at Catalyst IR

Excellent. Thank you.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

By the way, I'm sorry I said NOC. I said NOC. That is a network operations center.

William Jones
Head of Investor Relations at Catalyst IR

Excellent. The second question is regarding potential OEM white labeling and bundling progress that you've mentioned in the past. Could you provide an update on any ongoing dialogues for bundling OmniMetrix solutions with new OEM equipment?

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Yeah, I have no update. We continue to have discussions with two OEMs, but no update to report.

Operator

This concludes our question and answer session. I'll now hand the call back over to Jan for any closing comments.

Jan Loeb
Jan Loeb
CEO at Acorn Energy

Thank you all for joining today's call. We appreciate the continued support from all of our shareholders. If you have any follow-up questions, please reach out to myself or to our IR team, whose contact information is in today's press release. We hope to meet some of you next month at the Planet MicroCap Showcase that we're planning to attend on June 17th and 18th in Las Vegas. As always, we look forward to updating you on our next conference call. All the best.

Operator

This concludes today's call. Thank you all for joining. You may now disconnect.

Executives
    • Jan Loeb
      Jan Loeb
      CEO
    • Tracy Clifford
      Tracy Clifford
      CFO
Analysts
    • William Jones
      Head of Investor Relations at Catalyst IR
    • Analyst
    • Analyst
    • Analyst
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