Acorn Energy, Inc. (PNK:ACFN) Q3 2023 Earnings Call Transcript

Tracy Clifford: This is embedded – an embedded functionality change. So it was really after some review in our R&D process on just some options that we wanted to be able to offer as we appeal to more C&I larger customers that might have the ability in-house. We wanted to have that functionality available.

Unidentified Analyst: Okay. That makes sense. So okay, that answered my question. Okay. Congratulations on the quarter. I look forward to the updates.

Tracy Clifford: Thanks, Richard.

Jan Loeb: Thank you, Richard.

Operator: And our next question was e-mailed in. So I’d like to introduce Bill Jones to proceed with the question.

Bill Jones: Thank you. Yes, this is Bill Jones, Investor Relations. We had a question submitted via e-mail from a private investor, which says, “Hi, I am not yet a shareholder. My questions are, what is the average monthly monitoring revenue per generator? And what is the average hardware revenue realized when generator hardware is sold?”

Jan Loeb: Okay. So I would say that from the hardware side, it would be somewhere north of $400. And that includes both the kind of our residential product, which is a lower-priced product, and our commercial products, which are higher-based product. And then in terms of monitoring, I think in the past, we’ve said we charge our dealers a certain price. They mark it up to their customers. So for them, it’s a profit center except for our end-user C&I customers, who don’t mark it up, that use it themselves. So I’d say you’re looking somewhere around $12 or so a month on average.

Bill Jones: Okay. So for clarity, you’ve given averages. It’s really a range around that.

Jan Loeb: Correct.

Bill Jones: Very good. Thank you.

Operator: Ladies and gentlemen, that concludes the question-and-answer session. So I’d like to turn it back over to the management team for closing remarks.

Jan Loeb: Once again, thank you, everyone, for your interest in Acorn Energy. We look forward to updating you again after Q4 on our next call. In the interim, we’ll provide updates via press releases of any material developments. We do appreciate your support, and we’re happy to speak with investors and prospective investors. You may set up a call with Tracy or myself or ask a question through our IR team. This contact information is in today’s press release. Until then, thank you for your time today.

Operator: And ladies and gentlemen, this concludes today’s conference call. We thank you all for attending today’s presentation. You may now disconnect your lines, and have a wonderful day.