Acorn Energy Q3 revenue rises on hardware sales, Gen-Tracker acquisition
ACFN•Acorn Energy’s Q3 revenue rose 4.6% year over year to $2.59 million, driven by hardware sales and including contributions from Gen-Tracker. EPS was $0.37, boosted by a deferred tax benefit; the company targets 20% average annual revenue growth over the next three to five years.
1. Quarterly results
Acorn Energy reported Q3 revenue of $2.59 million, up 4.6% year over year, and gross profit of $2.09 million. Gross margin was 80.5%. EPS rose sharply, boosted by a deferred income tax benefit from a reduction in the valuation allowance on deferred tax assets.
2. Acquisition and outlook
The company completed its acquisition of Gen-Tracker, whose business contributed to Q3 revenue. Acorn Energy expects the acquisition to be accretive to earnings starting in Q4’26 and targets average annual revenue growth of 20% over the next three to five years. It sees favorable market conditions for backup power and monitoring due to grid strain and weather events.
3. Hardware margins
Improved hardware gross margin reflected next-generation Omni products and product cost management.
