Latest news with #ACFN
Yahoo
2 days ago
- Business
- Yahoo
Acorn Energy Inc (ACFN) Q2 2025 Earnings Call Highlights: Record Revenue and Strategic Uplift ...
Release Date: August 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Acorn Energy Inc (NASDAQ:ACFN) achieved record remote monitoring and control revenue in Q2 2025. The company reported a 55% year-over-year revenue growth to $3.5 million, driven by an 89% increase in hardware sales. Gross margin expanded to 75% from 73% in the previous year. Operating income increased by 257% to $947,000, and fully diluted EPS rose to $0.28 from $0.11 in Q2 2024. Acorn Energy Inc (NASDAQ:ACFN) successfully uplifted to the Nasdaq capital market, enhancing its visibility and positioning for future growth. Negative Points The residential market has been relatively flat over the past two quarters, impacting growth potential. The sales cycle for larger commercial and industrial opportunities is longer, making outcomes harder to predict. Monitoring revenue growth is dependent on the installation and activation of hardware, which can be delayed by customers. The company faces risks from potential disruptions to business operations and shifts in consumer demand. There is uncertainty in the demand response market due to grid operators not having a clear plan for demand response incentives. Q & A Highlights Warning! GuruFocus has detected 6 Warning Signs with ACFN. Q: Can you provide more color on the pipeline for hardware deals, especially in light of the expected 20% growth over the next several years? A: Dan Loeb, CEO: We expect 20% average growth, but it's hard to project big contracts. We are in discussions with several OEMs and responding to RFPs, which gives us confidence in achieving this growth rate over the next 3 to 5 years. Q: With $4.1 million already recognized from the $5.4 million telecom contract, what is the outlook for the next two quarters? Are there new deals or contracts expected soon? A: Dan Loeb, CEO: The timing of new contracts is uncertain, but we are confident due to our industry leadership. The telecom contract's progress depends on the customer's installation pace, which affects our revenue recognition. Q: How do you see monitoring revenue growing in the next couple of years? A: Dan Loeb, CEO: Monitoring revenue should grow in tandem with hardware sales. Typically, hardware represents about 80% and monitoring 20% of initial sales, but they should align over time as installations catch up. Q: Can you discuss the current pipeline and opportunities, especially given the grid's reliability issues? A: Dan Loeb, CEO: The number of opportunities has increased compared to six months ago, with varied requests beyond generators. We are receiving more inbound calls and interest, although translating this into sales is uncertain. Q: Any updates on the demand response market, particularly with C Power's acquisition? A: Dan Loeb, CEO: Our partnership with C Power remains strong, but revenue from demand response is currently minimal. The grid operators need to improve their demand response plans, but we are well-positioned for future opportunities. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Cision Canada
4 days ago
- Politics
- Cision Canada
ACFN Condemns Attempt to Silence First Nations in Alberta Secession Case: "We Will Not Be Erased"
FORT CHIPEWYAN, AB, Aug. 6, 2025 /CNW/ - The Athabasca Chipewyan First Nation (ACFN) is demanding a halt to efforts to undermine constitutional rights and silence Indigenous voices as Alberta navigates a reckless and unlawful push toward secession from Canada. The Chief Electoral Officer has asked the Court of King's Bench in Edmonton to rule on whether a proposal for Alberta to secede from Canada violates the constitution. This process – which was made law to ensure that citizen petitions do not propose to violate rights – is now under direct attack by the Alberta Prosperity Project and its leadership. Mitch Sylvestre – one of the APP's leaders and the person who brought the secession petition on its behalf – is asking for the Chief Electoral Officer's case to be thrown out. Mr. Sylvestre is seeking to strike the stated case and shut down the process before it begins. This would scrap the constitutional review entirely and block interveners – including ACFN – from participating altogether. This follows statements last week from the Alberta Minister of Justice and Premier Danielle Smith which publicly pressured the Chief Electoral Officer to withdraw the stated case and abandon the constitutional review. The Minister of Justice called the process "red tape". "This is a blatant attempt to silence Treaty First Nations and bulldoze through a radical secessionist proposal without scrutiny," said ACFN Chief Allan Adam. "Let us be absolutely clear – Treaty 8 was signed with the Crown in right of Canada, not with Alberta and certainly not with any separatist fringe group. We will not allow our Treaty to be trampled by political extremists." Despite the public pressure from the Premier and Alberta Justice, the Chief Electoral Officer has persisted in referring the matter to the courts. The parties are due to appear in court on Thursday, August 7, at which time the Chief Electoral Officer will be proposing the Court order a public notice plan and timetable to allow interested parties to apply to intervene, and for amicus curiae to be appointed, so that the Court can have a comprehensive hearing on this fundamental issue at a later date. In stark contrast, the lawyers appearing for Mr. Sylvestre and the APP will argue that the case should be struck then and there, without hearing from any other impacted parties. ACFN's legal team will be in court on Thursday to oppose Mr. Sylvestre's motion and support the implementation of a public notice plan and schedule that would allow First Nations and other concerned parties to formally intervene. "It is a matter of natural justice that the First Nations of Alberta – who have lived here from time immemorial – have an opportunity to be heard on this proposal to secede from Canada" says Kevin Hille, legal counsel for ACFN. "ACFN is going to be there to support the Chief Electoral Officer in creating a process that will give First Nations a genuine opportunity to participate." To ACFN and other First Nations, the secession petition represents a grave threat to the foundational relationship between Treaty Peoples and the Crown in right of Canada. Treaty 8 was signed in 1899 – before Alberta even existed as a province – and guarantees ACFN's rights to hunt, fish, trap and live according to their traditional ways. These rights are protected by section 35 of the Constitution Act, 1982 and cannot be erased by provincial whim or populist politics. Alberta was not a signatory to Treaty 8 and did not gain provincial status until 1905. Even then, Canada retained ownership of natural resources in the province until 1930. Alberta's authority over resources was only constitutionally entrenched in 1982. These facts underscore that ACFN's primary Treaty relationship is – and always has been – with the federal Crown. "This is not just a courtroom battle – it's a fight for our people, our lands, and our future," said Chief Adam. "If Alberta secedes, we would see artificial borders cut across our Nation, our kin divided, and our Treaty protections stripped away. We will not stand by while others try to erase our rights in secret." ACFN has consistently defended federal jurisdiction and the constitutional framework that upholds its rights – including at the Supreme Court of Canada. That fight now extends to this courtroom, and this case. "We are not going anywhere – and we are not backing down," said Chief Adam. "Canada must uphold its constitutional promises. We will fight this petition with everything we have." ACFN urges all Albertans, legal advocates, and Indigenous Nations to stand in solidarity against this dangerous and unlawful attempt to hijack democracy, suppress Indigenous voices, and dismantle Canada's constitutional order.
National Observer
08-05-2025
- Politics
- National Observer
First Nations take Alberta premier to task over separatist rhetoric
First Nations leaders say a silver lining to the 'rhetoric and insanity' brought about by talks of Alberta separatism has united Indigenous communities 'all across Canada, from coast to coast to coast.' Piikani Nation Chief Troy Knowlton said Alberta First Nations are gearing up for a fight with Alberta Premier Danielle Smith. 'We're not going anywhere and if you feel that you have problems with First Nations, you could leave,' Knowlton said. Smith said this week she doesn't want Alberta to leave Canada but promised to hold a referendum on provincial separation in 2026 if citizens gather the required signatures on a petition. Smith's government also recently tabled legislation to make it easier for citizens to trigger a provincial referendum, lowering the required signatures from 20 per cent of registered voters to 10 per cent and granting an extra month to collect signatures. The backlash from First Nations leaders was swift — they pointed out Alberta is on Treaty 6, 7 and 8 land, and those treaty agreements are with the federal government, not the province. 'This is treaty country, and any talk of separation is really insanity,' Knowlton said at an emergency meeting convened by First Nations leaders on May 6 in Edmonton. 'If Alberta wants to separate, and doesn't want to be part of Canada, then you're not allowed on our traditional territories anymore for exploration, because we don't know who you're exploring for,'said ACFN Chief Allan Adam The Federation of Sovereign Indigenous Nations, which represents 74 First Nations in Saskatchewan, said Smith's proposal to lower signature thresholds for citizen-initiated referendums — which could more easily lead to a vote on separation — fundamentally ignores the nation-to-nation treaties signed between First Nations and the Crown. This was echoed by other leaders, including Mikisew Cree First Nation Chief Billy-Joe Tuccaro and Athabasca Chipewyan First Nation Chief Allan Adam, who said any move in that direction would have immediate consequences for development in the province. 'If Alberta wants to separate, and doesn't want to be part of Canada, then you're not allowed on our traditional territories anymore for exploration, because we don't know who you're exploring for,' Adam said. In response to questions about a separation referendum's impact on treaty rights, Smith said she will have to wait until a citizen referendum proceeds to make any judgments about treaty rights. The ambiguity of her response did not quell concerns. 'Whether or not this rhetoric is real, you're upsetting a relationship that has been years in the making,' Gabrielle Slowey, a political science professor at York University, told Canada's National Observer in a phone interview. 'Historically, Alberta technically had a fairly good relationship with Indigenous groups compared to other regions in Canada. So, for the premier to be doing this … I'm not sure I see the value or the logic in it.' Slowey is surprised the Canadian Association of Petroleum Producers and resource extraction companies aren't intervening because Smith is potentially triggering the sort of instability that markets hate, after years of building agreements with communities to create a stable investment environment. 'Alberta's worked really hard, and Danielle Smith's threats are undoing all of that,' Slowey said. Adam's call for no more resource exploration amidst talk of separation is exhibit A. 'That's gonna send a shiver and a chill that people don't need, not at this time when we're supposed to be building all these nationalist projects,' Slowey said. The resounding message from First Nations leaders this week is that they are gearing up for a fight. 'For the last 50 years, we've been in defense of our rights, of our land, our jurisdiction, our identity,' Knowlton said. 'We're very prepared. Today, every one of the First Nations you see here, we've got doctors, we've got lawyers, we've got judges, we've got Crown prosecutors. We're ready. We're ready for a fight. We've got resources that we can either share or utilize ourselves for any litigation moving forward and any challenges we're going to have.' This issue of separation referendums and treaty rights has played out before, when Quebec held its 1995 referendum, Slowey noted. To highlight their opposition to Quebec secession, the Grand Council of the Crees of Quebec held a separate referendum at the time to underscore their long-standing opposition to Quebec separating from Canada. Cree voters were asked: "Do you consent, as a people, that the Government of Quebec separate the James Bay Crees and Cree traditional territory from Canada in the event of a Yes vote in the Quebec referendum?" An overwhelming 96.3 per cent — with 77 per cent voter turnout — voted to stay with Canada. The Inuit of Northern Quebec held a similar referendum with 96 per cent of voters opposing Quebec's secession. Now, in 2025, First Nations leaders in Alberta are hammering home the same message. Tuccaro, Mikisew Cree First Nation Chief, had some words specifically for Smith: 'You will not do what you want without the approval of the treaty people. You talk about a reset with Canada. You must reset with the Indigenous Peoples from Turtle Island.'
Cision Canada
08-05-2025
- Politics
- Cision Canada
UCP MAKES IT EASIER FOR ALBERTANS TO BRING FORWARD SEPARATION REFERENDUM BUT DENIES FIRST NATIONS RIGHT TO VOTE IN MUNICIPAL ELECTIONS
FORT CHIPEWYAN, AB, May 7, 2025 /CNW/ - Athabasca Chipewyan First Nation (ACFN) who reside in the Regional Municipality of Wood Buffalo and requested to be able to vote in municipal elections were rejected by the UCP Minister of Municipal Affairs Rick McIver, the entire UCP caucus including Minister Brian Jean, and MLA Tany Yao, who represent the region in question. "This vote comes at a critical time as First Nations wonder about the UCP government's commitment to respecting Treaty Rights," said ACFN Chief Allan Adam. "This vote gives you a pretty clear indication of how the UCP intendeds to win a referendum vote to separate from Canada; disenfranchise First Nations that stand in its way." The amendment to allow ACFN voting rights in municipal elections was introduced by NDP MLA for Edmonton West Henday, Brooks Arcand Paul. The amendment was to the Local Authorities Elections Act, which was being reviewed by the Committee of the Whole, is meant to correct a long-standing injustice. Currently 5 First Nations including Athabasca Chipewyan First Nation are nested completely nested within the RMWB, receive municipal service, and are deeply integrated both logistically and politically within the municipality. "Allowing ACFN the right to vote would recognize the reality they face; they are residents of the RMWB", said Chief Adam. The Athabasca Chipewyan First Nation had met with Minister McIver on March 26, 2024 and the issue of municipal voting was again brought up in the legislature on May 28, 2024. Both times Minister McIver said that he would address this problem before the next municipal election. Now he is turning his back on this promise and is instead choosing to allow this discriminatory practice to continue. "This should sound alarms to everyone paying attention to the referendum discussion currently happening in Alberta," said Chief Adam. "The UCP government is trying to pick and choose who gets to vote in this province's future. We call on all Nations, and all Albertans to reject this ploy."
CBC
04-04-2025
- Business
- CBC
First Nation launches legal action over Alberta oilsands cleanup fund
Social Sharing A First Nation in northeast Alberta is challenging the provincial government in court over its approach to ensuring oilsands companies pay to clean up their operations. The Athabasca Chipewyan First Nation filed an application this week for a judicial review of the province's 2024 decision to renew the rules for the Mine Financial Security Program (MFSP), saying it failed to meaningfully consult and is ignoring ACFN's concerns about infringement on Treaty rights. The program collects deposits from energy companies to make sure they cover the cost of remediating oilsands and coal mine sites after they're decommissioned. About a third of ACFN members live in the community of Fort Chipewyan, Alta., downstream from oilsands operations. The ACFN's legal application, filed on April 1, argues the MSFP is "grossly inadequate for achieving its intended purpose," and the province hasn't addressed recommendations and concerns raised during a recent review. "Without a properly funded program, industry will be able to walk away from their leases — leaving the mess behind for First Nations communities to live with," acting ACFN Chief Hazel Mercredi said in a statement. The MFSP was criticized in 2021 by provincial auditor general Doug Wylie, who found that the government holds just $1.5 billion in security on mining liabilities of $31.5 billion. A subsequent report from researchers at the University of Calgary's School of Public Policy in 2023 estimated liabilities at anywhere between $45 billion to $130 billion, with just $2 billion in reserve. Ryan Fournier, press secretary for Environment Minister Rebecca Schulz, told CBC News in a statement that the province made "effective changes" to the MFSP last year. "These were designed to ensure mine operators provide security to cover reclamation without unfairly targeting the energy sector." Fournier said the government is reviewing ACFN's legal action, but can't comment further while it's before the courts. Environmental law organization Ecojustice is representing ACFN. Ecojustice lawyer Matt Hulse said their position is the government is failing in its obligations to ACFN under Treaty 8. "We're also saying the decision is unreasonable because keeping such a flawed program does not actually uphold the purposes of Alberta's environmental legislation." The legal application asks for action including a declaration that the province breached its duty to consult ACFN, and an order to amend the MFSP within six months, addressing the Nation's concerns. It also seeks a judge's order requiring the province provide ACFN "an independently verified estimate of total oilsands liabilities and supporting analysis." The judicial review is scheduled to be heard in the Fort McMurray Court of King's Bench on May 21. ACFN also filed a lawsuit last year against the Alberta Energy Regulator, alleging negligence and a failure to live up to Treaty obligations after multiple tailings leaks at Imperial Oil's Kearl facility.
