NEW PORT RICHEY, Fla., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Zeo Energy Corp. (Nasdaq: ZEO) ("Zeo," "Zeo Energy," or the "Company"), a Florida-based provider of residential solar and energy efficiency solutions, today reported financial results for the second quarter and six months ended June 30, 2025. Recent Operational Highlights Management Commentary "In the second quarter we returned to growth and executed well through most of our peak selling season," said Zeo Energy Corp. CEO Tim Bridgewater. "During the ...

Core Viewpoint - Zeo Energy Corp. has successfully completed the acquisition of Heliogen, Inc., enhancing its capabilities in clean energy technology solutions [1][4]. Group 1: Acquisition Details - The acquisition of Heliogen was executed entirely through shares of Zeo Energy's Class A common stock, with Zeo receiving approximately $13.6 million in net cash from Heliogen at closing [4][6]. - Heliogen has ceased trading on the OTCQX as it has become a subsidiary of Zeo Energy as of August 8, 2025 [6]. Group 2: Strategic Plans - Zeo Energy intends to utilize Heliogen's technology, brand, and expertise to create a division focused on long-duration energy generation and storage, particularly for commercial and industrial applications, including AI and cloud computing data centers [2][3]. - The acquisition is expected to establish a comprehensive clean energy platform that spans residential, commercial, and utility-scale markets, supported by Zeo's internal financing capabilities and domain expertise [2][3]. Group 3: Company Background - Zeo Energy is a Florida-based provider of residential solar and energy efficiency solutions, focusing on high-growth markets with limited competition [8]. - Heliogen specializes in renewable energy technology, offering cost-effective, low-carbon energy production solutions by integrating solar technologies with thermal systems and storage expertise [9].

Core Points - Zeo Energy Corp. received a notice from Nasdaq on May 22, 2025, indicating non-compliance with periodic filing requirements due to the late submission of its Quarterly Report on Form 10-Q for the three months ended March 31, 2025, which was due by May 15, 2025 [1] - The company had previously received a deficiency notice for failing to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was subsequently filed on May 28, 2025 [2] - Nasdaq has allowed the company until June 16, 2025, to submit a plan to regain compliance, with a potential extension until October 13, 2025, if the plan is accepted [3] Company Overview - Zeo Energy Corp. is a Florida-based provider of residential solar, distributed energy, and energy efficiency solutions, focusing on high-growth markets with limited competition [5]

Core Insights - Zeo Energy Corp. reported a challenging year in 2024 for the solar industry but remains optimistic about future opportunities and growth strategies [3][4] - The company aims to acquire renewable energy assets to enhance market share and has successfully integrated Lumio's assets acquired in November 2024 [3][7] Financial Performance - Total revenue for 2024 was $73.2 million, a 33.2% decrease from $109.7 million in 2023, primarily due to higher interest rates affecting residential solar sales [6][8] - The company reported a net loss of $9.9 million in 2024 compared to a net income of $4.8 million in 2023, largely due to stock compensation and increased operational costs [8][22] - Adjusted EBITDA for 2024 was $2.0 million, down from $7.0 million in 2023, reflecting the impact of the challenging market environment [8][22] Quarterly Highlights - In Q4 2024, total revenue was $18.6 million, an 18.9% decrease from $23.0 million in Q4 2023, attributed to the ongoing effects of higher interest rates [6][14] - Gross profit for Q4 2024 decreased to $11.2 million (60.1% of total revenue) from $12.7 million (55.1% of total revenue) in Q4 2023, driven by lower sales [14] - Adjusted EBITDA for Q4 2024 increased to $3.1 million (16.8% of total revenue) from approximately $(0.9) million in Q4 2023, indicating improved operational efficiencies [14][15] Operational Developments - The company completed the integration of Lumio's assets, which is part of its market expansion strategy [7] - Zeo secured $4.0 million in December 2024 to develop a year-round sales force, aiming to enhance its market presence and growth trajectory [7] Market Positioning - Zeo Energy focuses on high-growth markets with limited competitive saturation, utilizing a differentiated sales approach to serve customers seeking energy efficiency solutions [11]