SPI Energy Co., Ltd. (SPI) is an international leader in providing solar storage and electric vehicle to its clientele. The three core sub-divisions of the company include SolarJuice residential solar, the commercial & utility solar sub-division, and the Phoenix Motor EV division. The company targets strategic investment opportunities in quickly developing green industries which leverage its expertise and solar cash flow.
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SPI stock price during the regular trading of April 1, 2022, was $2.84 with a minor decrease of 1.05%. Its price rocketed higher as of the writing in the aftermarket session by 33.4%.
SPI: Key Financials
SPI issued its consolidated financials on April 1, 2022, for the full fiscal year 2021 ended on December 31, 2021. Some notable updates are as follows.
The company posted net sales of $162.0 million during FY21, in comparison to $138.6 million for the corresponding year 2020. The net sales of the company remarkably gained by 16.9% YoY.
Net loss basic and diluted for FY21 was $44.8 million or $1.9 per share corresponding to $6.26 million or $0.4 per share in the corresponding year 2020. The company’s net loss gained momentum considerably YoY.
SPI: Events and Happenings
On March 30, 2022, SPI updated on the launch of 380W and 410W solar panels for its clients by its subsidiary Solarjuice Technology, Inc. The panels were launched in the residential market under its Solar4America brand.
On March 28, 2022, SPI reported the participation of its executive management at the Virtual 2022 Maxim Group Growth Conference, hosted by M-Vest, held on March 30, 2022. On March 24, 2022, SPI announced its subsidiary Phoenix Motorcars had selected Lance Zhou, as the company’s CEO and Executive Director with effect from March 28, 2022.
On March 22, 2022, SPI stated its subsidiary Phoenix Motorcars had launched a wide array of material handling products such as Electric Forklifts and Pallet Jacks, which were exhibited at the MODEX show on March 28-31, 2022.
SPI stock demoted 61% in the past year. Its stock price soared high in Friday’s aftermarket as the company reported its FY21 financial outcomes and reported record revenue growth of $162 million during 2021.