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ZEO

Zeo Energy Corp.

ZEO

Zeo Energy Corp. • NASDAQ
$1.50 ▲ 4.53% (+0.07)
Market Cap $82.83 M
52w High $3.95
52w Low $0.94
Dividend Yield 0%
P/E -4.17
Volume 40.36K
Outstanding Shares 55.22M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $23.896M ▲ $15.823M ▲ $-3.225M ▼ -13.496% ▼ $-0.12 ▼ $-1.442M ▼
Q2-2025 $18.102M ▲ $13.671M ▼ $-2.416M ▲ -13.346% ▲ $-0.11 ▲ $321.946K ▲
Q1-2025 $8.784M ▼ $17.505M ▲ $-6.361M ▼ -72.421% ▼ $-0.48 ▼ $-7.865M ▼
Q4-2024 $18.648M ▼ $12.567M ▼ $-435.346K ▼ -2.335% ▼ $-0.039 ▼ $1.676M ▲
Q3-2024 $19.658M $12.853M $-424.262K -2.158% $-0.039 $-2.207M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.916M ▲ $58.5M ▲ $12.424M ▼ $-1.721M ▲
Q2-2025 $68.691K ▼ $46.231M ▼ $33.235M ▲ $-59.447M ▼
Q1-2025 $2.894M ▼ $47.448M ▼ $32.428M ▲ $-23.078M ▲
Q4-2024 $5.634M ▲ $61.4M ▲ $18.487M ▼ $-88.912M ▼
Q3-2024 $4.33M $47.098M $29.422M $17.676M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.225M ▼ $-6.583M ▼ $14.356M ▲ $-3.921M ▼ $3.847M ▲ $-6.824M ▼
Q2-2025 $-2.679M ▲ $-2.286M ▼ $-434.447K ▼ $-104.469K ▼ $-2.825M ▼ $-2.721M ▼
Q1-2025 $-13.319M ▼ $-2.263M ▼ $-372.578K ▲ $-103.996K ▼ $-2.74M ▼ $-2.636M ▼
Q4-2024 $-1.136M ▲ $3.473M ▲ $-7.084M ▼ $4.915M ▲ $1.304M ▲ $3.389M ▲
Q3-2024 $-2.872M $162.215K $45.762K $-1.22M $-1.012M $207.977K

Five-Year Company Overview

Income Statement

Income Statement Zeo is still a very early‑stage, low‑revenue business. Sales have been small and a bit uneven year to year, with modest gross profit but no consistent operating profit. Recent results hover around break‑even at the bottom line, which signals tight cost control but also a lack of scale and limited room for error as the business pivots after the Heliogen acquisition.

Balance Sheet

Balance Sheet The balance sheet is thin and has weakened over time. Total assets have shrunk, cash is modest, and a small amount of debt has appeared. Equity has flipped from positive to negative, which points to accumulated losses or write‑downs and suggests limited financial cushion to support large, long‑duration projects without outside funding.

Cash Flow

Cash Flow Cash generation is fragile. Operating and free cash flow were slightly positive one year and slightly negative the next, with essentially no spending on physical assets. This shows a lean model but also indicates that growth has not yet been backed by meaningful investment, and that any uptick in spending or project delays could strain liquidity quickly.

Competitive Edge

Competitive Edge Strategically, Zeo has shifted from a regional residential solar installer to a more diversified clean‑energy platform with the Heliogen acquisition. Its strengths include vertical integration in residential, advanced concentrated solar technology for industrial use, and an in‑house financing arm. However, it faces intense competition from much larger solar and energy players, and its new industrial offerings are still at an early commercialization stage, making market traction and scale the key open questions.

Innovation and R&D

Innovation and R&D Innovation is the core of Zeo’s story: AI‑driven solar field control, high‑temperature thermal storage, modular concentrated solar systems, robotics for operations, and potential green hydrogen applications. These capabilities could open doors to data centers and heavy industry, but they demand ongoing R&D and project development spending, which is challenging given the company’s limited financial resources and the technical and execution risks of scaling such systems.

Summary

Zeo is undergoing a high‑stakes transformation from a small residential solar provider into a technology‑driven clean‑energy platform centered on concentrated solar power. The technology and strategic vision are ambitious and differentiated, but they rest on a very light financial base, with tiny revenues, negative equity, and tight cash. The main uncertainties are whether Zeo can successfully integrate Heliogen, secure and execute large projects, and strengthen its balance sheet enough to turn its promising technology into a durable, profitable business.

NEWS

November 14, 2025 · 8:05 AM UTC

Zeo Energy Corp. Reports Third Quarter 2025 Financial Results

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October 23, 2025 · 8:30 AM UTC

ZEO ScientifiX(TM) Positioned for New Growth as Florida Opens Stem Cell Market

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