Pineapple Energy soars on strong Q4 results

Sunation Energy

31/03/2023 12:06

** Shares of solar utility firm Pineapple Energy Inc
 PEGY.O  rise 15.8% to $1.65 premarket
    ** Q4 revenue nearly triples to $17.2 mln, compared to $5.9
mln in Q3
    ** Posts smaller Q4 net loss from continuing operations of
$539 thousand, compared to net loss of $2.5 million in Q3
    ** Says sequential increase in revenue due to contribution
from partial quarter of SUNation Energy, a New York-based solar
energy storage systems installer that PEGY acquired in Nov 2022,
and higher installation volumes in Hawaii
    ** Co expects to cross to positive cash-flow from operations
in H2 of 2023
    ** Up to last close, stock had fallen 38.8% this year

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))