Crown Electrokinetics Corp.
NASDAQ:CRKN
Crown Electrokinetics Corp.
Crown ElectroKinetics Corp. engages in the commercialization of electro kinetic technology for use in the smart glass market. The company is headquartered in Corvallis, Oregon and currently employs 30 full-time employees. The company went IPO on 2020-05-13. The firm's technology allows a transition between clear and dark and can be applied to a range of windows, including commercial buildings, automotive sunroofs, and residential skylights and windows. Its electrokinetic (EK) film technology is derived from ink and microfluidic technology. Its EK film technology utilizes nanometer-sized pigment particles that are electrically charged and suspended in a liquid that is sandwiched between two clear substrates that are coated with a transparent conductor oxide (TCO) film. Its plastic films are manufactured using roll-to-roll (R2R) processing equipment. Its DynamicTint Smart Glass Insert is specifically designed for retrofitting in the domestic and international commercial real estate install base.
Crown ElectroKinetics Corp. engages in the commercialization of electro kinetic technology for use in the smart glass market. The company is headquartered in Corvallis, Oregon and currently employs 30 full-time employees. The company went IPO on 2020-05-13. The firm's technology allows a transition between clear and dark and can be applied to a range of windows, including commercial buildings, automotive sunroofs, and residential skylights and windows. Its electrokinetic (EK) film technology is derived from ink and microfluidic technology. Its EK film technology utilizes nanometer-sized pigment particles that are electrically charged and suspended in a liquid that is sandwiched between two clear substrates that are coated with a transparent conductor oxide (TCO) film. Its plastic films are manufactured using roll-to-roll (R2R) processing equipment. Its DynamicTint Smart Glass Insert is specifically designed for retrofitting in the domestic and international commercial real estate install base.
Record Revenue: Crown reported its best quarter ever with record revenue of $8 million, up from zero in the same quarter last year, and attributed growth to new contracts in Fiber Optics and Water Solutions.
Strong Pipeline: Management highlighted robust demand and over $50 million in uncontracted pipeline revenue for Fiber Optics, and more than $70 million in expected projects for Water Solutions.
Smart Windows Launch: Crown outlined a three-phase rollout for its Smart Window Inserts, with prototypes expected to launch in early 2025 and full market launch in 2026.
Profitability Target: The company reiterated its plan to reach profitability in 2025.
Guidance Reaffirmed: Management maintained Q4 revenue guidance of $9 million, full-year 2024 revenue of $22 million, and introduced a 2025 outlook of $30–35 million in revenue.
