Spi Energy Co., Ltd. (SPI) 10-Q Quarterly Report November 2022

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2022	Nov. 14, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	0-30351
Entity Registrant Name	SPI ENERGY CO., LTD.
Entity Central Index Key	0001210618
Entity Tax Identification Number	20-4956638
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	4803 Urbani Ave.
Entity Address, City or Town	Mc Clellan Park
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95652
City Area Code	(408)
Local Phone Number	919-8000
Title of 12(b) Security	Ordinary Shares, par value $0.0001 per share
Trading Symbol	SPI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		28,841,236

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Spi Energy Co., Ltd.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Spi Energy Co., Ltd.'s 10-Q Quarterly Report:

Revenue - Product Highlight
The decrease in our sales, marketing and customer service expenses was mainly due to due to the decrease of amortization of the cost of customer list and work in process contracts purchased from the PDI.

Financial - Expense Highlight
Net cash used in operating activities was $22.5 million for the nine months ended September 30, 2021, primarily as a result of (i) net loss of $31.0 million, (ii) increase in prepaid expenses and other assets of $8.7 million due to prepayment of raw materials for the new roofing business; was partially offset by (i) increase in accounts payable of $4.2 million for purchasing of inventories in SJ Australia for preparation of peak sales season, (ii) decrease in accounts receivable of $3.1 million due to higher bad debt ratio related to the new roofing business, and (iii) stock-based compensation expense of $5.1 million, (iv) depreciation and amortization of $5.0 million.
Financial - Shares Highlight
Net cash provided by financing activities was $15.1 million for the nine months ended September 30, 2021, primarily consisted of (i) proceeds from issuance of ordinary shares of $13.6 million, (ii) proceeds from issuance of convertible note of $12.0 million, and (iii) net proceeds received from borrowings of $2.2 million; partially offset by (i) repayment of convertible notes of $13.8 million.
Financial - Expense Highlight
20 As PV and energy storage technology advances and the average system costs decrease, in many cases the residential or small business owners of solar systems have effectively achieved grid parity for their systems.
Revenue - Product Highlight
Our revenue and profitability depend substantially on the demand for our PV solutions, which is driven by the economics of PV systems, including the availability and size of government subsidies and other incentives, government support, cost improvements in solar power, as well as environmental concerns and energy demand.
Revenue - Product
Net loss - For the...Read more
Revenue - Product
Net loss - For the...Read more
Revenue - Product
Any one or more of...Read more
Revenue - Product
Sales, marketing and customer service...Read more
Revenue - Product
Sales, marketing and customer service...Read more
Other - Other
26 Net cash provided by...Read more
Financial - Expense
Key technology drivers include reduction...Read more
Other - Other
It is possible that these...Read more
Financial - Earnings
The decrease in gross margin...Read more
Financial - Earnings
The decrease in gross margin...Read more
Revenue - Geography
Net foreign exchange gain -...Read more
Revenue - Geography
Net foreign exchange gain -...Read more
Revenue - Product
The increase in net sales...Read more
Financial - Expense
Some of the key funding...Read more
Revenue - Product
We intend to continue implementing...Read more
Financial - Expense
We believe that the growth...Read more
Financial - Cash Flow
Historically, we have financed our...Read more
Financial - Income
The other income in the...Read more
Financial - Expense
The increase in interest expense...Read more
Financial - Expense
The increase in interest expense...Read more
Financial - Expense
The decrease was mainly due...Read more
Revenue - Geography
Countries in Europe, notably Italy,...Read more
Revenue - Product
Net revenues - Net revenues...Read more
Revenue - Product
22 Net revenues - Net...Read more
Revenue - Product
The anticipated sales growth in...Read more
Financial - Expense
Since the Company's indirect costs...Read more
Financial - Expense
Since the Company's indirect costs...Read more
Other - Other
Gross loss - Our gross...Read more
Other - Other
One or more of our...Read more
Other - Other
With growing emphasis on improving...Read more
Revenue - Product
This includes large delivery truck...Read more
Other - Other
We continue to assess the...Read more
Financial - Expense
Large utilities like Southern California...Read more
Financial - Expense
The decrease of general and...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Spi Energy Co., Ltd. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Certification Of Chief Executive Officer

Exhibit 31.2: Certification Of Chief Financial Officer

Exhibit 32: Certification

Ticker: SPI
CIK: 1210618
Form Type: 10-Q Quarterly Report
Accession Number: 0001683168-22-007585
Submitted to the SEC: Mon Nov 14 2022 7:52:49 AM EST
Accepted by the SEC: Mon Nov 14 2022
Period: Friday, September 30, 2022
Industry: Semiconductors And Related Devices