Sunworks Inc.(vorm. Solar 3D)

q4 erneut schlecht.... kaum umsatz, einbrechende margen und natürlich unterm strich ein verlust..... aber was anderes kann man bei der pommesbude nicht erwarten.... und wie jedes jahr: "The company expects to be profitable for the full year of 2018." .... hab popcorn in der hand und den sekt schonmal kalt gestellt!

https://globenewswire.com/news-release/2018/03/08/...ns-for-2018.html  

Sinkende Umsätze, Strafzölle, keine neuen Aufträge... sieht übel aus. Einziger Lichtblick: Der Cashbestand bleibt stabil bei 6.4 Mio.

The company had $6.4 million in cash and cash equivalents as of September 30, 2017. The company had $6.4 million in cash and cash equivalents as of December 31, 2017.  

das q4 war erneut eine katastrophe. der umsatz lag bei lediglich $19,3mio, die marge bei 5% und unterm strich steht ein verlust von $3,4mio.!

https://www.sec.gov/Archives/edgar/data/1172631/...04031/form10-k.htm

zu beginn des letzten jahres hat sich der ceo also ziemlich weit aus dem fenster gelehnt - allerdings wusste er vermutlich nicht, welche leichen im keller versteckt sind. dennoch hat sich etwas bewegt:

1. kosten wurden reduziert

In 2017, our selling, general and administrative expenses excluding stock based compensation totaled $18.8 million, which was almost 22% below the 2016 level. More specifically we reduced our sales and marketing cost by almost half, from $12.3 million in 2016 to $6.5 million in 2017.

2. verbesserte interne kontrollen

...to ensure greater focus on predictability, profitability and cash generation. In the second half of 2017, we spoke frequently about the cleanup required for a number of old projects that were completed at much lower margins than we had originally estimated and recorded them at. In addition, we discovered that many projects were originally accepted at profit margins that today would not be acceptable......new projects entering backlog in 2018 have better margins.

3. aus 8 mach 5

...we streamlined our executive leadership team in an effort to reduce costs and improve efficiency. And we also reduced the size of our Board of Directors. Four Board members resigned and we replace them with one. ( neu an bord:  d. gr0ss  / leider ist die nels0n-nulpe noch da).

4. trotz kostenreduktion bei verkauf und marketing, ist das auftragsbuch gefüllt

Despite the significant reduction in sales and marketing expenses, we continue to win new business at a record pace. Our bookings in new projects in 2017 exceeded $90 million. And we're off to a great start in 2018 in regard to winning more new business....

5. man stellt sich geopgraphisch breiter auf:

zb. siehe 700kw projekt in massachusetts. weiter projekte dieser grösse sollen folgen in texas, new mexico oder florida.

.... es es durchaus besserung in sicht. was wirklich dann dabei rauskommt wird man noch sehen.


- umsatzwachstum in 2018 soll zwischen 10-20% liegen - dafür soll unterm strich ein gewinn stehen. die marge soll sich von q zu q verbessern. wird interessant zu beobachten sein (vermutlich wird q1 noch mies, aber ab q2 sollten erste erfolge erkennbar sein, oder auch nicht hehe).... egal wie, unterhaltsam wird's allemal!  

Ich würde auf Wachstum durch Fusionen setzen. Organisches Wachstum ist kaum möglich. Immerhin ist Sunworks in Kalifornien die Nr. 12.

https://www.solarpowerworldonline.com/...alifornia-solar-contractors/

Wieso also nicht mit Rec Solar oder Blue Oak Energy fusionieren??  

Sunworks Strengthens Balance Sheet and Announces Changes to Board of Directors

https://globenewswire.com/news-release/2018/04/27/...f-Directors.html

1. Company secures two-year $3.75 million term loan:

Securing a term loan provides necessary capital to support our profitable growth without an equity issuance that would be dilutive to our shareholders.

2. Joshua Schechter appointed as Independent Director:

Sunworks also announced that Joshua Schechter has been appointed as an independent member of the board of directors.

3. Jim Nelson and Frank Hunt retire from Board of Directors:

James Nelson, Executive Chairman and Frank Hunt, who has served as a director and chair of the audit committee since December 2014, retired from the Board of Directors. ( Jesus Maria endlich .... Nu_lpe Jim Nelson steht nicht mehr auf der Gehaltsliste von Sunw !!! )  

q1, wie erwartet, erneut nicht der Hit:

Revenue: 13,447Mio
Gross Profit:: 2,441Mio
Loss: 1,7428Mio. (-0,07)

https://www.sec.gov/Archives/edgar/data/1172631/...07048/form10-q.htm
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Sunworks Appoints Stanley Speer, Financial Expert, to Board of Directors

https://globenewswire.com/news-release/2018/05/14/...f-Directors.html  

Nelson- Abgang belastet Q2:

"When Jim retired last month that accelerated vesting and we'll have about a $640,000 equity hit in Q2. And so when we've given guidance for Q2 and for full year, obviously, we didn't anticipate that until last month."

Deshalb Korrektur der Prognose für 2018:

"Management expects the company to generate positive earnings before interest, taxes, depreciation, amortization and stock compensation expense (Adjusted EBITDA) for the full year of 2018."

Umsatz: 72Mio  /  EBIT-Marge: ca.20%

Weiterhin:

"We currently have more than $60 million of backlog scheduled for installation in 2018."

"We want profitable revenue growth not growth at the expense of profit and cash flow."

"In order to secure the loan, two of us on the leadership team agreed to participate with the lending group from CrowdOut Capital. CrowdOut contributed $3 million; I contributed $500,000; and Kirk Short, our President of Commercial Operations contributed $250,000.
It provides us with greater security to avoid any future dilutive equity offering for at least as long as the warrants are outstanding which is February of 2020."



 

Sunworks Promotes Philip Radmilovic to Chief Financial Officer, Names Joshua Schechter Chairman of the Board of Directors

Paul McDonnel to Remain with Company as Treasurer

ROSEVILLE, Calif., June 05, 2018 (GLOBE NEWSWIRE) -- Sunworks, Inc. (Nasdaq:SUNW), a premier provider of high performance solar power solutions for agriculture, commercial, industrial (ACI), public works and residential markets, today announced that Philip Radmilovic has been promoted to Chief Financial Officer. Mr. Radmilovic had been the Corporate Controller since June of 2017. Paul McDonnel, who has served as CFO since September 2016, will remain engaged with the company as Treasurer.  In addition, the Board of Directors of Sunworks has named Joshua Schechter as Chairman of the Board.


https://globenewswire.com/news-release/2018/06/05/...f-Directors.html

https://www.sec.gov/Archives/edgar/data/1172631/...008202/form8-k.htm

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Sunworks Celebrates Completion of 1.4 MW Solar Project

ROSEVILLE, Calif., May 24, 2018 (GLOBE NEWSWIRE) -- Sunworks, Inc. (NASDAQ:SUNW), a leading provider of solar power solutions for agriculture, commercial, industrial (ACI), public works and residential markets today celebrated the completion of a 1.4 MW solar power project encompassing nine Los Altos School District (LASD) campuses.

https://globenewswire.com/news-release/2018/05/24/...lar-Project.html

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Sunworks to Complete Solar Roof Mount and Carport Installation for Meridian Terrace Mobile Home Park

ROSEVILLE, Calif., May 22, 2018 (GLOBE NEWSWIRE) -- Sunworks, Inc. (NASDAQ:SUNW), a premier provider of high performance solar power solutions for agriculture, commercial, industrial (ACI), public works and residential markets, today announced a new agreement to install a 1.0 megawatt (mW) solar system for Meridian Terrace Mobile Home Park, a San Bernardino, California-based mobile home community of 268 homes. The Sunworks solar installation is scheduled for completion in the second half of 2018 and is expected to produce a majority of the property's electricity needs within its first year of operation.

https://globenewswire.com/news-release/2018/05/22/...e-Home-Park.html  

Könnte noch ein paar Wochen seitwärts gehen und dann?
Zurück Richtung PennyStock oder Dank News zur Solar3D-Zelle, Übernahme oder Großaufträge zurück Richtung 4 Euro? Wer weiß  :-)

Hier braucht man auf jeden Fall viiiiiel Geduld! Allen noch investierten viel Erfolg!  

Sunw bleibt weiterhin unterirdisch:

Revenue: $20Mio.
Gross margin: 14,5%
Loss: $1,8Mio.

Restrukturierung im Schneckentempo:

Chuck Cargile, Sunworks Chief Executive Officer said, “Our effort to transform Sunworks continues, although the results reported today indicate that this process is taking longer than anticipated."

http://globenewswire.com/news-release/2018/08/08/...2018-Results.html

PS. : Ergebnisprognose für 2018 wurde erneut nach unten angepasst!  

denke eher Pennystock.
Welche News zur 3D Solarzelle, die vor Jahren gehyped wurde und nichts außer
Minus gemacht hat, sollen den Laden rumreißen?
Bin hier mit nem blauen Auge davongekommen. Alles schön reden bringt nichts m.M.n.
Scheinbar macht sich keiner was aus dieser
3D Zelle, sonst wäre doch schon früher jmd. auf den Zug gesprungen.
Allen noch investierten viel viel Glück.  

Gestern runtergestuft auf neutral.

https://www.streetinsider.com/dr/news.php?id=14509529

Die letzten werfen wohl das Handtuch.
Heißt ja nicht, dass man nicht ganz unten wieder einsteigen kann.

 

....  ein etwas besseres Q, aber immer noch auf niedrigem Niveau.... Marge wieder etwas besser und Verlust kleiner.... der Umsatz setzt sich immernoch aus Projekten zusammen, welche unterm Strich nicht rentabel waren...allerdings soll sich dies in Zunkunft weiterhin etwas verbessern.... Marge für neue Projekte liegt bei 22/23%.... unrentable Projekte wohl noch bis in die 1. Jahreshälfte 2019....

Revenue: $18,281
Gross Profit: $3,365  (18,3%)
Loss: $0,376 (0,01)


https://www.sec.gov/Archives/edgar/data/1172631/...15295/form10-q.htm

--------------------------------------------------

- Revenue Prognose Q4: $18-20
- Marge deutlich über Vgl.-Q, allerdings auch nicht schwer.... Marge lag damals bei 5,4%  

gibt es News?  

Sunw hat in der Vergangenheit sein zwielichtiges Management um Jim Nelson ausgewechselt und versucht sich seither an einer Trendwende. Der hinterlassene Scherbenhaufen war allerdings so gross, dass bisher kaum Besserung in Sicht war und man annehmen musste, dass hier sogar die Lichter ausgehen könnten. Eine Trendwende könnte gelingen, wenn alle alten unrentablen Projekte abgearbeitet und durch neue rentable Projekte ersetzt wurden. Dieser Prozess soll sich noch bis zur 1. Jahreshälfte hinziehen. Neue Aufträge (siehe unten) lassen hoffen. Allerdings tickt hier die Uhr. Ein NASDAQ-Delisting bzw. Reverse Split steht an, sollte der Kurs nicht bald wieder über ein Dollar steigen. Entscheidend sind deshalb die nächsten Q-Berichte!

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Valarie Serrato Vice President of Residential Business

https://globenewswire.com/news-release/2018/12/20/...al-Business.html

ROSEVILLE, Calif., Dec. 20, 2018 (GLOBE NEWSWIRE) -- Sunworks, Inc. (Nasdaq: SUNW), a provider of solar power solutions for agriculture, commercial and industrial (ACI), public works and residential markets, today announced that Ms. Valarie Serrato has been named as Vice President, Residential Business effective immediately. Ms. Serrato, a former COO at Petersen Dean Roofing / Solar4America, is a strong leader with more than 20 years of experience in construction and project management and a proven track record of successfully managing, developing and growing business in high-performing organizations.

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SUNW Expands Addressable Market with New Projects in Massachusetts and New Jersey

https://www.nasdaq.com/press-release/...nd--new-jersey-20181218-00346

ROSEVILLE, Calif., Dec. 18, 2018 (GLOBE NEWSWIRE)
Sunworks' Chief Executive Officer, Chuck Cargile said, "These projects represent a major advancement of our long-term growth strategy that will significantly expand Sunworks' addressable market and over time diversify our revenues. The state of California has long been recognized as an early adopter of renewable energy initiatives that promote the expansion of cost-effective clean energy, and not surprisingly, we are seeing this trend expand across the country."

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Sunworks Inc. Expands Addressable Market With New Projects in Mass., N.J

https://www.constructionequipmentguide.com/...ojects-in-mass-nj/43293

THU JANUARY 03, 2019

Sunworks Inc., a provider of high-performance solar power solutions for agriculture, commercial, industrial (ACI), public works and residential markets, has been awarded an engineering, procurement and construction contract to develop a 600kW roof mount and parking canopy project for a food manufacturer in New Jersey and a 700kW project for a self-storage facility in Massachusetts.

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Sunworks Appoints Former CFO Paul McDonnel as Interim CFO

https://www.nasdaq.com/press-release/...as-interim-cfo-20190130-01085

ROSEVILLE, Calif., Jan. 30, 2019 (GLOBE NEWSWIRE) -- Sunworks, Inc. (Nasdaq:SUNW), a provider of solar power solutions for agriculture, commercial and industrial (ACI), public works and residential markets, today announced that Phil Radmilovic, the Company's Chief Financial Officer will resign to pursue other career opportunities.



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Sunworks to Construct 1.5 Megawatt (mW) Solar and Storage Project for Kingston Technology

https://globenewswire.com/news-release/2019/02/04/...-Technology.html

ROSEVILLE, Calif. , Feb. 04, 2019 (GLOBE NEWSWIRE) -- Sunworks, Inc. (Nasdaq: SUNW), a provider of solar power solutions for agriculture, commercial and industrial (ACI), public works and residential markets, today announced a new 1.5 mW solar power and battery storage construction project for Kingston Technology, a world leader in manufacturing memory products and quality technology solutions for PCs, servers, smart phones, cameras and other electronic devices.








 

Na dann, abwarten...  

SUNW versucht sich weiterhin an einer Trendwende. Positive Anzeichen sind sichtbar. Leider gibt es weiterhin unerwartete Abschreibungen, so dass unterm Strich erneut ein Verlust stehen bleibt. Für Q1/19 ist ein Umsatz von $ 13mio. und erneut ein Verlust vorausgesagt. Q2 + Q3 sollen dann stärker ausfallen. Eine Marge von ca. 20% wird erwartet. Noch in diesem Monat fällt die Entscheidung, ob SUNW im NASDAQ verbleibt. Man befindet sich bereits in Gesprächen und erwartet eine Verlängerung der Entscheidung um weitere 6 Monate. Im September muss dann der Kurs wieder über $1 liegen, ansonsten bereitet man sich auf ein Reverse-Split vor. Dh.: Trotz einer erkennbaren Trendwende gibt es weiterhin einige Baustellen zu bearbeiten.....

Fourth Quarter 2018 Summary:

Revenue  $19.2 million
Net loss $1.8 million ( included a $1.9M noncash charge )
Gross margin 18.6%
Cash $4.1 million

https://seekingalpha.com/pr/...ks-reports-fourth-quarter-2018-results  

Sunworks Receives Nasdaq Listing Extension to September 16, 2019

ROSEVILLE, Calif., March 21, 2019 (GLOBE NEWSWIRE) -- Sunworks, Inc. (Nasdaq: SUNW), a provider of solar power solutions for agriculture, commercial and industrial (ACI), public works and residential markets, today announced that it has received a listing extension from the Nasdaq Hearings Panel.  The extension grants the Company until September 16, 2019 to regain compliance with the Minimum Bid Price requirement for continued listing on The Nasdaq Capital Market.

https://www.globenewswire.com/news-release/2019/...ember-16-2019.html  

https://www.barchart.com/stocks/quotes/SUNW/opinion  

https://www.barchart.com/story/stocks/quotes/SUNW/...-stock-right-now  

*
Kasse gemacht:
+800% in 5 Monaten
Tiefkurs am 31.12.18 = $0,25
Hochkurs am 07.05.19 = $1,97
Wer Geduld- und  Langzeitorientiert war
konnte heute hohe Gewinne einfahren.  

Das Q1 war mal wieder nix, ( trotz Ansage) enttäuschende Q-Zahlen von SUNW. Natürlich wie gewohnt: " unexpected rework on projects leading to cost overruns". Das soll und muss jetzt in den nächsten 2 Quartalen besser werden, denn sonst wirds eng. Cash balance at March 31, 2019 was $2.0 million.
Kleiner Lichtblick, der Kurs war aufgrund des letzten Pumps an 10 aufeinanderfolgenden Tage über $1 - damit sollte ein Delisting vorerst vom Tisch sein.

Revenue: $9.3 million
Net loss: $4.5 million

https://www.sec.gov/Archives/edgar/data/1172631/...07075/form10-q.htm  

SUNW bleibt auf NASDAQ-Watchlist

"One other issue that I wanted to touch on before we hang up, we were hit with a little bit of disappointing news from NASDAQ, we learned yesterday afternoon that we’re not removed from the watch list even though our stock has traded above a $1 for 13 consecutive days. They indicated that while the staff determination notice calls out a 10-day period to regain compliance that there's language that says they had the discretionary authority to review it for 20 days."  (Chuck Cargile)  

SUNW meldet wieder regelmaessig Aufträge, was wiederum auf eine Trendwende hoffen lässt:

Sunworks to Construct 416 kW Solar Project for Avenales Cattle Company

Sunworks Awarded Key Follow-On Order with Customer in Northeast Region

Sunworks to Construct 751 kW Solar Project for Plumas Mutual Water District

Sunworks to Construct 1 MW Solar and Storage Project for Northern California School District

Sunworks Celebrates Completion of 1.4 MW Solar Project for Los Altos School District in Partnership with ForeFront Power

PS.: Nasdaq-Delisting weiterhin möglich
       Reverse Split weiterhin möglich

Anmerkung:
Sunworks joins Russell Microcap® Index

 

.... da dieses Mal unterm Strich kein Geld verbrannt wurde. Allerdings bleibt auch kein Gewinn hängen, trotzdem verbesserte sich der Cash Bestand um $1.5Mio auf $3.5Mio, da Sunworks aktuell verwässert....

Revenue:          $18,7Mio.
Gross Profit:    $3,6 (19,5%)
Loss:                   $0,1Mio. ($0,00/Share)


Ausblick:

Management noted that although it is difficult to predict the timing of installation revenue on a quarter by quarter basis, the company expects to generate slightly higher sequential revenue in the third quarter of 2019 – in the range of $19 million to $22 million.
Management expects the company to again generate positive operating income for the third quarter of 2019.

https://www.globenewswire.com/news-release/2019/...-2019-Results.html