SPI - SPI stock higher on guiding 2021 revenue growth of ~34%-41%
SPI Energy (SPI) +6.20% premarket, reports for FY2020 battery storage sales increased 326% to 33.4 megawatt hours, solar panel sales up 50% to 150 megawatts.The company expects FY2020 revenue of $132M-$142M, driven primarily by solar storage segment and FY2021 revenue of $200M-$240M, driven by solar storage business. "We achieved key transformational milestones in 2020 that provide a strong foundation for unlocking value and accelerating growth in the quarters ahead," stated Xiaofeng Peng, Chairman and CEO of SPI Energy. "With $53 million in new capital raised in the second half of the year, we are in a great position to execute on our comprehensive growth strategy across high-growth segments of the global renewable energy markets, including our latest expansion into EVs and EV charging."In 2020, the company launched new electric vehicle subsidiary, EdisonFuture and strengthened EV supply chain and sales infrastructure through joint agreement with Liuzhou Liancheng Industrial Co., Ltd. and Guangxi Dazhou Automobile
For further details see:
SPI stock higher on guiding 2021 revenue growth of ~34%-41%