Acorn Energy

High‑margin recurring monitoring provides stability, now roughly 54% of TTM revenue, and grows with the installed base. That said, quarterly results can swing with large enterprise hardware orders, as seen in Q1 2026 revenue down 28% year over year due to prior‑year cellphone‑provider rollouts.

Secular drivers like grid reliability concerns and regulatory compliance for pipelines favor steady multi‑year growth, but lumpiness persists. We view long‑term growth as mid‑teens potential with variability.