Overview
- Fourth-quarter revenue totaled $55.02 million, topping estimates by $7.78 million on 12% year-over-year growth.
- Non-GAAP loss per share was $0.83, beating expectations by $0.20, with quarterly net loss improving to about $29.3 million.
- Full-year revenue rose 41% to $158.2 million, though the annual net loss widened to $191.4 million.
- Project backlog stood at $1.19 billion as of October 31, supported by new awards such as a 7.4 MW plant in Hartford, Connecticut.
- Unrestricted cash increased to $278.1 million, aided by the $25 million EXIM financing, as management cuts costs and targets U.S. and South Korean opportunities.