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Acorn Energy, Inc. (ACFN)

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0.4863+0.0113 (+2.37%)
At close: 1:57PM EST
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Previous Close0.4750
Open0.5000
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.4750 - 0.5000
52 Week Range0.1100 - 0.6600
Volume43,832
Avg. Volume59,438
Market Cap19.298M
Beta (5Y Monthly)1.38
PE Ratio (TTM)N/A
EPS (TTM)-0.0130
Earnings DateNov. 12, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateFeb. 15, 2013
1y Target Est3.00
  • Acorn Generates Positive Operating Cash Flow in Q3 on 9% Revenue Growth & 17% Gross Profit Growth in Remote Monitoring & Control (IoT)
    GlobeNewswire

    Acorn Generates Positive Operating Cash Flow in Q3 on 9% Revenue Growth & 17% Gross Profit Growth in Remote Monitoring & Control (IoT)

    WILMINGTON, Del., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Acorn Energy, Inc. (OTCQB: ACFN), a provider of Internet of Things (IoT) remote monitoring and control solutions for stand-by generators, gas pipelines, air compressors and other industrial equipment through its OmniMetrix subsidiary, today announced results for its third quarter (Q3’20) ended September 30, 2020. Acorn will host an investor call today at 11:00 a.m. ET to discuss its results and outlook (details below). Jan Loeb, Acorn’s CEO, commented, "Our Q3 results again demonstrated our business’s resilience despite COVID-19 challenges. We achieved 9% revenue growth over Q3’19, a gross margin of 71%, and our cash balance increased by $206,000. We also reduced our consolidated operating loss to $23,000 in Q3’20 from $121,000 in Q3’19. High-margin, recurring monitoring service revenue rose 15%, driving a 17% increase in gross profit to $1,077,000 in Q3’20 from $922,000 in Q3’19. Given these trends, we believe Acorn has established the foundation necessary to continue generating positive cash flow and to reach consolidated net profitability in 2021.“Due to the pandemic, we had endured a virtual halt in business development dialogues within our Corrosion Protection business as natural gas pipeline operators suspended vendor meetings. Fortunately, we are starting to see initial reengagement in sales dialogues by larger companies. For the year-to-date period, revenue in this segment has declined 27% versus 2019, principally related to product revenue, but the decline moderated to 14% in Q3’20 versus Q3’19. We feel this business is stabilizing and will return to growth as the pandemic subsides.“While uncertainties around COVID-19 continue, we believe our business is resilient given the efficiency, ROI and safety considerations that our remote monitoring services can provide customers relative to the alternative, which is labor-intensive physical inspection of critical equipment. These benefits, combined with low penetration rates for remote monitoring and IoT solutions in industrial markets we serve, give us confidence in continued growth for our products and services. We also believe we have the right team and strategy in place to return to our long-term revenue growth goal of 20% in 2021.“Our growth outlook is supported by new product launches, such as our Smart Annunciator product that provides customers with status updates on critical electric systems, as well as our  AirGuard air compressor monitoring solution. This month we launched our new OmniPro data management software in our cathodic protection or pipeline segment, which should help to maintain our technology leadership in the industry.“We had $1,966,000 of cash at September 30th, which leaves us well positioned to consider opportunities to enhance shareholder value as we generate additional cash flow.”OmniMetrix Summary Financial Results($ in thousands)Q3'20   Q3'19   Change  9mo. 2020   9mo. 2019   Change  Monitoring revenue$970  $847  14.5% $2,823  $2,417  16.8% Hardware revenue$547  $539  1.5% $1,500  $1,673  -10.3% Total revenue$   1,517  $ 1,386  9.5% $      4,323  $     4,090  5.7% Gross profit$1,077  $922  16.8% $3,021  $2,644  14.3% Gross margin 71.0%  66.5%     69.9%  64.6%                       Q3’20 revenue increased approximately 9% to $1,517,000, fueled by a 15% improvement in monitoring revenue resulting from an increase in the number of monitored endpoints, mitigated by a 1% increase in hardware revenue, due in part to COVID-19-related business development disruptions. Revenue grew 6% to $4,323,000 in the first nine months of 2020 versus the year-ago period, similarly driven by monitoring revenue growth of 17%, offset by a 10% decline in hardware revenue.Q3’20 gross profit grew 17% to $1,077,000 versus Q3’19, and gross margin increased to approximately 71% in Q3’20 from 66% in the prior-year period, primarily due to the increase in higher-margin monitoring revenue. Monitoring revenue gross margin remained strong at 84% in both periods, while hardware gross margin improved to 44% in Q3’20 from 39% in Q3’19 due to an increasing mix of higher-margin, next-generation monitoring products and a favorable adjustment to the warranty provision.OmniMetrix's Q3’20 total operating expenses increased 6% to $867,000 from $816,000 in Q3'19, primarily due to an increase in personnel and travel costs, as well as IT infrastructure and R&D investments for new product development. During Q3’20, OmniMetrix gave performance-based salary increases to employees and the sales team resumed travel to customer prospects that are now open to receiving outside guests. Management anticipates that OmniMetrix’s selling, general and administrative (SG&A) costs will increase in Q4’20, due to personnel salary increases effective September 1, 2020, the easing of travel restrictions for sales meetings, and continuing IT infrastructure investments.Reflecting gross profit outpacing operating expense growth, OmniMetrix reported Q3’20 operating income of $210,000, nearly doubling from $106,000 in Q3'19.Acorn Consolidated Financial Results Acorn’s corporate SG&A costs increased 3% to $233,000 in Q3’20, versus $227,000 in Q3’19. Corporate SG&A is flat year-to-date and management does not expect corporate SG&A expense to increase materially other than expenses that may be required to support growth in OmniMetrix.Q3’20 net loss attributable to Acorn shareholders improved to $32,000, or $0.00 per share, as compared to a net loss attributable to Acorn shareholders of $121,000, or $0.00 per share, in Q3'19. For the first nine months of 2020, Acorn’s net loss attributable to shareholders improved to $348,000, or ($0.01) per share, versus $557,000, or ($0.02) per share in the first nine months of 2019.Liquidity and Capital Resources Cash generated from operating activities improved to $300,000 in the first nine months of 2020, compared to a use of cash of $933,000 in the first nine months of 2019. This difference of approximately $1.2 million, is primarily due to positive changes in net working capital, including increased receivable collections, less cash needed for payables, as well as a reduction in the net loss.At September 30, 2020, consolidated cash and cash equivalents increased to $1,966,000 from $1,247,000 at December 31, 2019. Acorn’s consolidated cash includes aggregate Paycheck Protection Program (“PPP”) loan proceeds of $461,400 received in Q2’20. The company repaid $41,600 of such proceeds effective October 22, 2020, and was notified on November 5, 2020 by the lender that the SBA has forgiven repayment of the remaining $419,800.OmniMetrix’s outstanding balance on its receivables-based line of credit as of September 30, 2020 was $171,000 compared to $136,000 at December 31, 2019. Acorn believes the Company’s current cash, expected cash flow from operations, and available cash from borrowings, provides sufficient liquidity to finance the company’s operating activities for the foreseeable future.The ongoing global impact of COVID-19 continues to be uncertain. The Company’s operations may be materially affected by the pandemic, including a material adverse impact on the Company’s financial position, operations and cash flows. Possible effects may include, but are not limited to, disruption to the Company’s customers and revenue, absenteeism in the Company’s labor workforce, and supply chain disruption.Conference Call DetailsDate/Time:      Thursday, November 12th at 11:00 am ET Dial-in Number: 1-844-834-0644 or 1-412-317-5190 (Int'l) Online Replay/Transcript: Audio file and call transcript will be posted to the Investor section of Acorn's website when available.  Submit Questions via Email: acfn@catalyst-ir.com – before or after the call.     About Acorn (www.acornenergy.com) and OmniMetrix™ (www.omnimetrix.net) Acorn Energy, Inc. owns a 99% equity stake in OmniMetrix, a pioneer and leader in machine-to-machine (M2M) and Internet of Things (IoT) wireless remote monitoring and control solutions for stand-by power generators, gas pipelines, air compressors and other industrial equipment. OmniMetrix’s proven, cost-effective solutions make critical systems more reliable. The company monitors tens of thousands of assets for customers, which include 25 Fortune/Global 500 companies. In addition to residential generators, OmniMetrix solutions monitor critical equipment used by cell towers, manufacturing plants, medical facilities, data centers, retail stores, public transportation systems, energy distribution and federal, state and municipal government facilities.Safe Harbor Statement This press release includes forward-looking statements, which are subject to risks and uncertainties.  There is no assurance that Acorn will be successful in growing its business, reaching profitability, or maximizing the value of its operating company and other assets. A complete discussion of the risks and uncertainties that may affect Acorn Energy’s business, including the business of its subsidiary, is included in “Risk Factors” in the Company’s most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.Follow us Twitter: @Acorn_IR and @OmniMetrixInvestor Relations Contacts Catalyst IR William Jones, 267-987-2082 David Collins, 212-924-9800 acfn@catalyst-ir.comACORN ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE DATA)  Three months ended September 30,  Nine months ended September 30,    2020  2019  2020   2019                 Revenue $1,517  $1,386  $4,323  $4,090  Cost of sales – products and services  460   465   1,322   1,417  Cost of sales – other  (20)  (1)  (20)  29  Gross profit  1,077   922   3,021   2,644  Operating expenses:                 Research and development expenses  160   137   453   420  Selling, general and administrative expense  940   906   2,887   2,815  Total operating expenses  1,100   1,043   3,340   3,235  Operating loss  (23)  (121)  (319)  (591) Finance expense, net  (8)  —   (28)  5  Loss before income taxes  (31)  (121)  (347)  (586) Income tax expense  —   —   —   —  Net loss  (31)  (121)  (347)  (586) Non-controlling interest share of net (income) loss  (1)  —   (1)  29  Net loss attributable to Acorn Energy, Inc. shareholders $(32) $(121) $(348) $(557)                   Basic and diluted net loss per share attributable to Acorn Energy, Inc. shareholders: $(0.00) $(0.00) $(0.01) $(0.02) Weighted average number of shares outstanding attributable to Acorn Energy, Inc. shareholders – basic and diluted  39,687   40,393   39,669   33,844                    ACORN ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)  As of September 30, 2020  As of December 31, 2019  ASSETS         Current assets:         Cash and cash equivalents $1,966  $1,247  Accounts receivable, net  732   962  Inventory, net  299   291  Deferred charges  806   741  Other current assets  117   189  Total current assets  3,920   3,430  Property and equipment, net  264   189  Right-of-use assets, net  518   587  Other assets  670   778  Total assets $5,372  $4,984  LIABILITIES AND DEFICIT         Current liabilities:         Short-term credit $171  $136  Loan payable – current portion  256   —  Accounts payable  273   197  Accrued expenses  55   136  Deferred revenue  3,289   3,004  Current operating lease liabilities  97   53  Other current liabilities  143   68  Total current liabilities  4,284   3,594  Non-current liabilities:         Loan payable  207   —  Deferred revenue  1,357   1,491  Noncurrent operating lease liabilities  468   542  Other non-current liabilities  5   2  Total non-current liabilities  2,037   2,035  Commitments and contingencies         Deficit:         Acorn Energy, Inc. shareholders         Common stock - $0.01 par value per share:         Authorized – 42,000,000 shares; Issued – 39,687,589 and 39,591,339 shares at September 30, 2020 and December 31, 2019, respectively  397   396  Additional paid-in capital  102,718   101,655  Warrants  3   1,021  Accumulated deficit  (101,030)  (100,682) Treasury stock, at cost – 801,920 shares at September 30, 2020 and December 31, 2019  (3,036)  (3,036) Total Acorn Energy, Inc. shareholders’ deficit  (948)  (646) Non-controlling interests  (1)  1  Total deficit  (949)  (645) Total liabilities and deficit $5,372  $4,984

  • Acorn (ACFN), a Remote Monitoring & Control Provider for Generators, Pipelines, Compressors & Other Critical Assets, Hosts Q3 Call Thur. Nov. 12 at 11am ET
    GlobeNewswire

    Acorn (ACFN), a Remote Monitoring & Control Provider for Generators, Pipelines, Compressors & Other Critical Assets, Hosts Q3 Call Thur. Nov. 12 at 11am ET

    WILMINGTON, Del., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Acorn Energy, Inc. (OTCQB: ACFN), a provider of remote monitoring and control systems and Internet of Things (IoT) services for stand-by generators, pipelines, air compressors, and other critical industrial equipment through its OmniMetrix subsidiary, will host its third quarter conference call Thursday, November 12, 2020 at 11:00 a.m. ET. Jan Loeb, President and CEO, and Tracy Clifford, CFO, will host the call and Q&A session. Conference Call & Replay Details:     Date/Time: Thursday, November 12th at 11:00 am ET Dial-in Number:1-844-834-0644 or 1-412-317-5190 (Int'l) Online Replay/Transcript:Audio file/transcript will be posted online here Questions can also be submitted via Email: acfn@catalyst-ir.com About Acorn (www.acornenergy.com) and OmniMetrixTM (www.omnimetrix.net) Acorn Energy, Inc. owns a 99% equity stake in OmniMetrix, LLC, a pioneer and leader in machine-to-machine (M2M) and IoT wireless remote monitoring and control solutions for stand-by power generators, gas pipelines, air compressors and other industrial equipment. OmniMetrix’s proven, cost-effective solutions make critical systems more reliable. The company monitors tens of thousands of assets for customers including 25 Fortune/Global 500 companies. In addition to generators in homes, OmniMetrix solutions monitor critical equipment used in cell towers, manufacturing plants, medical facilities, data centers, retail stores, public transportation systems, energy distribution, and federal, state and municipal government facilities.Follow us Twitter: @Acorn_IR and @OmniMetrixInvestor Relations Contacts Catalyst IR William Jones, 267-987-2082 David Collins, 212-924-9800 acfn@catalyst-ir.com

  • GlobeNewswire

    Acorn Makes Progress Towards Break-even in Q2 on 7% Revenue & 13% Gross Profit Growth, Showing Resilient Business Model in Remote Monitoring & Control (IoT)

    WILMINGTON, Del., Aug. 12, 2020 (GLOBE NEWSWIRE) -- Acorn Energy, Inc. (OTCQB: ACFN), a provider of Internet of Things (IoT) remote monitoring and control solutions for stand-by generators, gas pipelines, air compressors and other industrial equipment through its OmniMetrix subsidiary, today announced results for its second quarter (Q2’20) ended June 30, 2020. Acorn will host an investor call tomorrow, August 13th at 11:00 a.m. ET to discuss its results and outlook (details below). Jan Loeb, Acorn’s CEO, commented, "First, I want to thank the entire OmniMetrix team for their efforts and commitment amidst the challenges of the COVID-19 pandemic. As a provider of infrastructure support to critical industries, we’ve remained fully operational throughout the pandemic without any layoffs. In Q2, the company achieved 7% revenue growth over Q2’19, a gross margin near 70% and came close to break-even on a consolidated net income basis. This solid performance is rooted in our growing base of high-margin and recurring monitoring service revenue, which rose 19% for the period, driving a 13% increase in overall gross profit.“While uncertainties remain regarding customer behavior as a result of COVID-19 and its potential lasting impacts, we believe our business is particularly resilient given the affordable cost and justifiable safety benefits of remote monitoring for our customers. Regardless of economic conditions or even a serious pandemic, we think that demand for IoT solutions such as remote monitoring and control will continue to grow over the long term, particularly given the relatively low penetration rate of such solutions in the market segments we serve.“Of course we are continuing to see a negative impact on our sales and business development efforts with larger corporate entities, particularly in our Corrosion Protection business for natural gas pipelines. While the value proposition for eliminating in-person inspection of pipelines is even greater in the COVID-19 environment, many companies in this space have postponed vendor meetings.“In the second quarter we launched our new Smart Annunciator product, which provides customers with status updates on critical electric systems. In July, we forged our first distribution relationship outside of North America, with Italy-based Mel Systems S.R.L., opening up sales opportunities in Italy and across the EU for our AirGuard air compressor monitoring solution. We also hope to launch a new Omnimetrix software product upgrade later this quarter offering more features.“We ended the quarter with $1,760,000 in cash, putting us on very strong footing to manage through uncertainty and also better positioning us to potentially take advantage of opportunities that could arise from business or market turbulence in our space. Considering the strength of our business, and despite COVID-19 impacts, we remain very confident in the long-term growth and cash generation potential of our businesses. We believe we have the correct strategy, the right team and enough capital to return to a 20% long-term growth trajectory by 2021.”OmniMetrix Summary Financial Results($ in thousands) Q2'20  Q2'19 Change   6mo. 2020  6mo. 2019 Change  Monitoring revenue$  958 $  804 19.1% $  1,853 $  1,570 18.0% Hardware revenue$  510 $  573 -11.0% $   953 $  1,134 -16.0% Total revenue$  1,468 $ 1,377 6.6% $  2,806 $  2,704 3.8% Gross profit$  1,022 $  901 13.4% $  1,944 $  1,722 12.9% Gross margin 69.6% 65.4%   69.3% 63.7%  Comparing Q2’20 to Q2’19, revenue increased approximately 7% to $1,468,000, driven by a 19% increase in monitoring revenue, due an increased number of endpoints monitored, partially offset by an 11% decrease in hardware revenue due to the impact of COVID-19 business disruptions. Revenue rose 4% for the first six months of 2020 versus the first six months of 2019, similarly driven by monitoring revenue growth of 18%, partially offset by a 16% decline in hardware revenue.Comparing Q2’20 to Q2’19, gross profit grew 13% to $1,022,000 and gross margin increased to approximately 70% in Q2’20 from 65% in Q2’19, primarily due to increased monitoring revenue, which carries a higher gross margin than hardware. Gross margin on monitoring revenue remained strong at 84% in both Q2’20 and Q2’19. Hardware gross margin improved to 42% in Q2’20 from 40% in Q2’19, due to an increasing mix of higher margin, next-generation monitoring products.OmniMetrix's Q2’20 total operating expenses decreased 5% to $822,000 from $861,000 in Q2'19, primarily due to decreased travel expenses related to COVID-19 restrictions and decreased legal fees. However, management anticipates that annual SG&A costs will increase approximately 15% in 2020 as a result of a fully-staffed sales team and continuing IT infrastructure investments.Reflecting higher gross profit complemented with lower operating expenses, OmniMetrix reported Q2’20 operating income of $200,000 versus an operating loss of $40,000 in Q2'19 and an operating loss of $51,000 in Q1’20.Acorn Consolidated Financial Results Acorn’s corporate general and administrative (G&A) costs decreased 9% to $222,000 in Q2’20, as compared to $243,000 in Q2’19, due to a decrease in travel expenses and insurance costs. Management does not expect corporate G&A expense to increase materially in 2020 other than expenses that may be required to support growth in OmniMetrix.Q2’20 net loss attributable to Acorn shareholders improved to $33,000, or ($0.00) per share, as compared to a net loss attributable to Acorn shareholders of $199,000, or ($0.01) per share, in Q2'19. For the first six months of 2020, Acorn’s net loss attributable to shareholders improved to $316,000, or ($0.01) per share, versus $436,000, or ($0.01) per share in the first six months of 2019. The first half of 2019 included $30,000 in cost of sales due to an inventory write-off related to discontinued technology.Liquidity and Capital Resources Cash generated from operating activities improved to $78,000, compared to a use of cash of $423,000 in the first half of 2019, primarily due increased receivable collections as well as a reduced net loss. At June 30, 2020, consolidated cash and cash equivalents increased to $1,760,000 from $1,247,000 at December 31, 2019. Acorn’s consolidated cash includes aggregate loan proceeds of approximately $462,000 received in Q2’20 under the Coronavirus Aid, Relief and Economic Security Act, which the company expects to be substantially forgiven. OmniMetrix’s outstanding balance on its receivables-based line of credit at June 30, 2020 was $181,000 compared to $136,000 at 2019 year end. Acorn management believes the Company’s current cash, expected cash flow from operations and available borrowings provides sufficient liquidity to finance the company’s operating activities for the foreseeable future.The ongoing global impact of the Coronavirus continues to be uncertain, and the Company’s operations may be materially affected by the Coronavirus pandemic, including a material adverse impact on the Company’s financial position, operations and cash flows. Possible effects may include, but are not limited to, disruption to the Company’s customers and revenue, absenteeism in the Company’s labor workforce, and unavailability of products and supplies used in operations.Conference Call DetailsDate/Time:Thursday, August 13th at 11:00 am ET Dial-in Number:1-844-834-0644 or 1-412-317-5190 (Int'l) Online Replay/Transcript:Audio file and call transcript will be posted to the  Investor section of Acorn's website when available. Submit Questions via Email:acfn@catalyst-ir.com – before or after the call. About Acorn (www.acornenergy.com) and OmniMetrixTM (www.omnimetrix.net) Acorn Energy, Inc. owns a 99% equity stake in OmniMetrix, a pioneer and leader in machine-to-machine (M2M) and Internet of Things (IoT) wireless remote monitoring and control solutions for stand-by power generators, gas pipelines, air compressors and other industrial equipment. OmniMetrix’s proven, cost-effective solutions make critical systems more reliable. The company monitors tens of thousands of assets for customers, which include 25 Fortune/Global 500 companies. In addition to generators in homes, OmniMetrix solutions monitor critical equipment used in cell towers, manufacturing plants, medical facilities, data centers, retail stores, public transportation systems, energy distribution, and federal, state and municipal government facilities.Safe Harbor Statement This press release includes forward-looking statements, which are subject to risks and uncertainties.  There is no assurance that Acorn will be successful in growing its business, reaching profitability, or maximizing the value of its operating company and other assets. A complete discussion of the risks and uncertainties that may affect Acorn Energy’s business, including the business of its subsidiary, is included in “Risk Factors” in the Company’s most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.Follow us Twitter: @Acorn_IR and @OmniMetrixInvestor Relations Contacts Catalyst IR William Jones, 267-987-2082 David Collins, 212-924-9800 acfn@catalyst-ir.comACORN ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE DATA)  Six months ended June 30,  Three months ended June 30,    2020  2019  2020  2019                Revenue $2,806  $2,704  $1,468  $1,377  Cost of sales – products and services  862   952   446   476  Cost of sales – other  ―   30   ―   ―  Gross profit  1,944   1,722   1,022   901  Operating expenses:                 Research and development expenses  293   283   138   139  Selling, general and administrative expense  1,947   1,909   906   965  Total operating expenses  2,240   2,192   1,044   1,104  Operating loss  (296)  (470)  (22)  (203) Finance expense, net  (20)  5   (10)  (1) Loss before income taxes  (316)  (465)  (32)  (204) Income tax expense  ―   —   ―   —  Net loss  (316)  (465)  (32)  (204) Non-controlling interest share of net loss (income)  ―   29   (1)  5  Net loss attributable to Acorn Energy, Inc. shareholders $(316) $(436) $(33) $(199)                   Basic and diluted net loss per share attributable to Acorn Energy, Inc. shareholders: $(0.01) $(0.01) $(0.00) $(0.01) Weighted average number of shares outstanding attributable to Acorn Energy, Inc. shareholders – basic and diluted  39,659   30,515   39,687   30,675  ACORN ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)  As of June 30, 2020  As of December 31, 2019  ASSETS         Current assets:         Cash and cash equivalents $1,760  $1,247  Accounts receivable, net  706   962  Inventory, net  301   291  Deferred charges  814   741  Other current assets  133   189  Total current assets  3,714   3,430  Property and equipment, net  259   189  Right-of-use assets, net  541   587  Other assets  707   778  Total assets $5,221  $4,984  LIABILITIES AND DEFICIT         Current liabilities:         Short-term credit $181  $136  Loan payable – current portion  180   ―  Accounts payable  242   197  Accrued expenses  91   136  Deferred revenue  3,115   3,004  Current operating lease liabilities  76   53  Other current liabilities  111   68  Total current liabilities  3,996   3,594  Non-current liabilities:         Loan payable  282   ―  Deferred revenue  1,370   1,491  Noncurrent operating lease liabilities  494   542  Other non-current liabilities  4   2  Total non-current liabilities  2,150   2,035  Commitments and contingencies         Deficit:         Acorn Energy, Inc. shareholders         Common stock - $0.01 par value per share:         Authorized – 42,000,000 shares; Issued – 39,687,589 and 39,591,339 shares at June 30, 2020 and December 31, 2019, respectively  397   396  Additional paid-in capital  102,710   101,655  Warrants  3   1,021  Accumulated deficit  (100,998)  (100,682) Treasury stock, at cost – 801,920 shares at June 30, 2020 and December 31, 2019  (3,036)  (3,036) Total Acorn Energy, Inc. shareholders’ deficit  (924)  (646) Non-controlling interests  (1)  1  Total deficit  (925)  (645) Total liabilities and deficit $5,221  $4,984