SPI Energy (NASDAQ: SPI), a global renewable energy company and provider of solar storage solutions for business, residential, government, logistics and utility customers, announced its financial results for the third quarter ended September 30, 2023. "We are extremely proud to report positive net income from continuing operations during the third quarter," said Xiaofeng Peng, Chairman and Chief Executive Officer of SPI Energy. "The sale of our majority stake in Phoenix Motor removes its net loss burden from out bottom line moving forward, strengthening our ability to drive increasing profits in the quarters ahead as we continue to grow our business. Our net revenues grew by 31% year-over-year to $55.9 million in the third quarter, while our gross profit improved to $7.5 million, up from a gross loss in the year-ago period and up 43% from the second quarter of 2023. Our continually improving financial metrics reflect our operations' robustness and our strategies' effectiveness.”
Disclosure
SPI Energy (SPI) is a client of RedChip Companies, Inc. SPI agreed to pay RedChip Companies, Inc. 25,000 shares of Rule 144 stock and a monthly cash fee of $6,500, beginning in August 2019, for 12 months of RedChip investor awareness services and consulting services.
