Energy Focus, Inc. (NASDAQ:EFOI) Q4 2022 Earnings Call Transcript

Unidentified Analyst: Hi Lesley, David Lodowski. Thank you very much. First question, I love to comment about €“ and we just heard it just briefly on looking into product development using gallium nitride power supplies. And I guess what I am asking is, is there any sort of insight that you can give us into the specific application of those? And potentially, what type of turnaround if those things are going into commercial products. Are these things are going to be able to be introduced in the coming year, or is it more longer term?

Lesley Matt: Sure. Thank you, David for your question. In regards to the GaN products, we are looking at working within the lighting industry first because that is where our expertise lie. Some of the opportunities that we are looking to go after may or may not be realized in 2023 and are more of a long-term strategic play just because it will involve additional development processes with potential partners. However, we are looking to be able to also supply within the lighting display market in module here hopefully before the end of the year. So, some products will be a little bit easier than others, and we are hopeful that we will be able to start launching those here before the year is out.

Unidentified Analyst: Thank you. And I have one other question, given my background, can you provide any comment on the €“ I know that Energy Focus has a reasonably large patent portfolio. Can you provide any comment on whether or not the company is looking into ways to monetize or to potentially squeeze some value out of its portfolio, which goes back a number of years? And given that you are turning back to your roots, at least from what I hear based on the UVC comments, has there been any thought into trying to exploit the patent position?

Lesley Matt: Great question. We currently look at all of our assets and continue to look at different ways to move our best foot forward as we continue to grow. Right now, my focus is on generating sales. But that’s something that we could put for the future.

Unidentified Analyst: Thank you. That’s all I had and continued good luck by the way.

Lesley Matt: Thank you.

Operator: And we have reached the end of the question-and-answer session. And I will turn it back over to Lesley Matt for closing marks.

Lesley Matt: Thank you, operator. Again, thank you everyone for joining us today and we look forward to providing you with more information as we turn the corner in 2023. Thank you again.

Operator: And this concludes today’s conference, and you may disconnect your lines at this time. Thank you for your participation.