ZEO
Zeo Energy Corp.1.0700
+0.0600+5.94%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
128.50MP/E (TTM)
-Basic EPS (TTM)
-0.36Dividend Yield
0%Recent Filings
10-Q
Q3 FY2025 results
Zeo Energy posted Q3 revenue of $23.9M, up 21.6% y/y yet down from Q2 (derived), driven by solar installations comprising 99% of total while related-party deals hit $7.0M. Gross margins leaped to 57.4% from 48.8% y/y on pricier Solar Leasing contracts, narrowing operating loss to $2.0M from $3.0M despite sales/marketing doubling to $9.6M on year-round digital leads; net loss attributable to Class A shareholders landed at $3.2M or $(0.12)/share on 27.3M diluted shares. Cash fell to $3.9M after $11.1M YTD operating burn, offset by $14.6M Heliogen cash haul from the August 2025 all-stock close valued at $14.4M recognizing $81K goodwill. Debt stays light at $84.6K vehicle loans (11.09% weighted rate). Redeemable non-controlling interests pose dilution risk.
8-K
Auditor switch disclosed
Zeo Energy dismissed Grant Thornton as auditor and appointed Tanner LLC effective October 31, 2025, amid disclosed material weaknesses in internal controls over reconciliations, financial reporting, EPS calculations, and cash flow classification. No audit disagreements occurred, and prior GT reports were clean. GT concurs. Smooth transition hinges on remediating weaknesses.
8-K
Heliogen acquisition detailed
Zeo Energy's CEO and CFO presented at the 2025 Annual Gateway Conference on September 4, 2025, detailing their August 2025 Heliogen acquisition for $14.0M total ($10.0M stock, $6.3M cash to company). This bolsters commercial LDES for AI data centers, adding $13M cash with zero debt. Acquisition fuels market diversification. Q1-Q2 2025 revenue hit $26.9M amid amortization hits.
8-K
Amends Piper fee for Heliogen
Zeo Energy amended its Piper Sandler engagement letter effective August 11, 2025, agreeing to pay $1.6875 million cash and issue 677,711 Class A shares—half locked up 45 days post-Heliogen deal close—for prior buy-side advisory on the Heliogen acquisition. Piper will release all fee claims upon payment and Heliogen closing. Zeo commits to filing a resale registration by September 7. Deal hinges on acquisition close.
10-Q
Q2 FY2025 results
Zeo Energy posted Q2 revenue of $18.1M, up 22% y/y yet down from Q1's $8.8M (derived), with solar installations driving 102% of the total while gross margin hit 58.6% on higher average selling prices. Operating loss widened slightly to $2.9M amid $3.2M amortization on fully impaired intangibles, but net loss attributable to Class A stockholders improved to $2.4M ($0.11/share) versus $0.3M ($0.06/share) prior year, reconciling to 22M weighted shares. Cash dwindled to $69K after $4.5M YTD operating burn, offset by $0.8M capex; vehicle debt sits at $643K (7.63% weighted rate, no covenants) plus $2.5M zero-interest convertible note. Heliogen merger closed August 8 for 0.9591 Class A shares per Heliogen share. Customer concentration lingers.
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