ISun plunges after downbeat second-quarter results

iSun

16/08/2022 14:21

** Solar engineering firm iSun Inc's shares  ISUN.O  down
~12% at $4.28 premarket as Q2 results disappoint
    ** ISUN reports Q2 rev of $16.5 mln, nearly three-time
growth YoY, but much below estimates of $29.3 mln - Refinitiv
data
    ** Reports adjusted loss per share of 23 cents, bigger than
estimated loss of 12 cents  urn:newsml:reuters.com:*:nASA03LV1
    ** Company, which has a market cap of $68.7 mln, had $30.3
mln in total liabilities as of June 30
    ** ISUN says it will continue to focus on improving its
liquidity and said it was in active conversations to secure a
new debt facility that will refinance its existing debt
    ** Up to Monday's close, stock had fallen ~18% YTD, compared
with a ~14% decline in the NASDAQ Industrial Index  .IXID 

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))