Telkonet, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 16, 2020 at 08:37 am EST
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Telkonet, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 2.239 million compared to USD 2.198 million a year ago. Operating loss was USD 672,363 compared to USD 737,494 a year ago. Net loss was USD 676,755 compared to USD 753,869 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. For the nine months, total revenue was USD 5.325 million compared to USD 8.531 million a year ago. Operating loss was USD 2.256 million compared to USD 2.081 million a year ago. Net loss was USD 2.279 million compared to USD 2.118 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.02 a year ago.
Telkonet, Inc. is a provider of the EcoSmart and Rhapsody Platforms of intelligent automation solutions designed to optimize energy efficiency and analytics in support of the emerging Internet of Things (IoT). Its EcoSmart Platform consists of EcoSmart Product Suite, EcoCentral, and EcoCare. Its EcoSmart Product Suite includes thermostats, sensors, switches, and outlets, which provide monitoring, management, and reporting over individual and grouped energy consumption throughout building environments. Its EcoCentral is a cloud-based dashboard that provides visualization and remote management services. Its EcoCare offers professional support and maintenance services, including engineering, analytics, reporting, software and hardware updates. The Rhapsody Platform focuses on utilizing Wi-Fi and Bluetooth low energy (BLE) for mobile application-based setup and configuration. Its platforms are deployed primarily in the hospitality, educational, governmental and other commercial markets.
TELKONET, INC. 