WILMINGTON, DE — Acorn Energy, Inc. (OTCQB: ACFN) announced that its common stock has been approved for listing on the Nasdaq Capital Market. Trading began today, July 24, under the existing ticker symbol ACFN.
The uplisting marks a significant step for the company, which specializes in remote monitoring and control solutions for backup generators and industrial equipment. Acorn expects the move to enhance the visibility and liquidity of its shares, broadening access for institutional and retail investors.
CEO Jan Loeb described the Nasdaq approval as a key milestone in the company’s evolution. Once a diversified business with a track record of operating losses, Acorn has repositioned itself as a focused, high-margin growth company generating positive cash flow. Loeb highlighted ongoing demand for backup power systems and remote monitoring tools as key drivers of revenue growth.
Acorn is targeting an annual revenue growth rate of 20% or more over the next three to five years, with expectations to surpass that benchmark in 2025. The company projects that roughly half of each additional revenue dollar will convert into operating profit, underscoring the scalability of its business model.
As of March 31, 2025, Acorn reported $2.6 million in cash and no outstanding debt. The company had 2,491,130 shares of common stock outstanding and posted first-quarter revenue of $3.1 million. Net income for the quarter was $464,000, or $0.19 per diluted share.
The uplisting is expected to support the company’s long-term expansion goals by attracting a wider investor base and reinforcing its position in the growing industrial IoT market.
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