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*Nasdaq FSI: *Deficient and Delinquent: Issuer Failed to Meet NASDAQ Continued Listing Requirements, and Missed Regulatory Filing Deadline

Company profile

Lottery.com Inc. is a technology company that is a provider of domestic and international lottery products and services. It is engaged in mobile and online platforms that enable players located in the United States and internationally to remotely purchase legally sanctioned lottery games. The Company offers the platform through the Lottery.com app and its Websites to users located in the United States. and international jurisdictions where the sale of lottery games is legal, and its services are enabled for the remote purchase of legally sanctioned lottery games (B2C Platform). It offers an internally developed, created and operated business-to-business application programming interface (API) of the platform to enable commercial partners in permitted the United States and international jurisdictions to purchase certain legally operated lottery games from the Company and resell them to users located within their respective jurisdictions (B2B API). It also delivers global lottery data.

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$0.2501
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0.2551
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Today's volume of 32,384 shares is on pace to be in-line with LTRY's 10-day average volume of 429,844 shares.

32,384

First Solar, Inc. Announces Second Quarter 2022 Financial Results

4:27 pm ET July 28, 2022 (Globe Newswire) Print

EQNX::TICKER_START (NASDAQ:FSLR), EQNX::TICKER_END -- YTD net bookings of 27.1 GWDC

-- 10.4 GWDC of net bookings since prior earnings call have a base Average Selling Price (ASP), prior to the application of pricing adjustors, of $0.301 per watt

-- Record expected module shipment backlog of over 44 GWDC

First Solar, Inc. (Nasdaq: FSLR) today announced financial results for the second quarter ended June 30, 2022.

Net sales for the second quarter were $621 million, an increase of $254 million from the prior quarter, primarily due to increased module sales.

Operating income for the second quarter was $145 million, compared to an operating loss of $58 million in the prior quarter. Second quarter operating income increased primarily due to increased module sales volume and a gain on the sale of the Company's Japan project development platform, partially offset by an impairment associated with a legacy systems business asset in Chile.

The Company reported second quarter income per diluted share of $0.52, compared to a loss per diluted share of $0.41 in the prior quarter.

Cash, restricted cash, and marketable securities at the end of the second quarter increased to $1.9 billion from $1.6 billion at the end of the prior quarter. The increase was primarily due to proceeds from the sale of the Company's Japan project development platform.

"We are pleased with our second quarter results," said Mark Widmar, CEO of First Solar. "Our competitive differentiators, including our technology, agile contracting, certainty, and the promise of responsibly-produced solar, have sustained our bookings momentum and continue to drive demand. We now have a record backlog of over 44 GWs, extending the horizon for future expected deliveries to 2026. The 10.4 GWs of new bookings since our prior earnings call in April brings our total year-to-date bookings to 27.1 GWs."

The complete 2022 guidance has been updated as follows:

                                  Prior           Current
Net Sales                         $2.4B to $2.6B  $2.55B to $2.8B
Gross Profit (1)(2)               $155M to $215M  $115M to $165M
Operating Expenses (3)            $365M to $380M  $350M to $365M
Operating Income (2)(4)(5)        $55M to $150M   $5M to $70M
Earnings (Loss) per Diluted Share $0.00 to $0.60  $(0.25) to $0.25
Net Cash Balance (6)              $1.1B to $1.35B $1.3B to $1.5B
Capital Expenditures              $850M to $1.1B  Unchanged
Shipments                         8.9GW to 9.4GW  Unchanged

--------------------

(1) Includes $10 million to $15 million of underutilization losses

(2) Includes $40 million to $50 million of losses associated with a legacy systems business asset in Chile

(3) Includes $80 million to $85 million of production start-up expense

(4) Includes $90 million to $100 million of production start-up expense and underutilization losses

(5) Includes $245 million pre-tax gain related to the sale of the Japan project development and O&M platforms

(6) Defined as cash, marketable securities, and restricted cash less expected debt at the end of 2022

The guidance figures presented above are forward-looking statements that are subject to a variety of assumptions and estimates. Investors are encouraged to listen to the conference call and to review the accompanying materials, which contain more information about First Solar's second quarter 2022 financial results, 2022 guidance, and financial outlook.

Conference Call Details

First Solar has scheduled a conference call for today, July 28, 2022 at 4:30 p.m. ET, to discuss this announcement. A live webcast of this conference call and accompanying materials are available at investor.firstsolar.com. An audio replay of the conference call will be available through Tuesday, August 27, 2022 and can be accessed by dialing +1 (800) 770-2030 if you are calling from within the United States or +1 (647) 362-9199 if you are calling from outside the United States. A replay of the webcast will also be available on the Investors section of the Company's website approximately five hours after the conclusion of the call and remain available for 90 days.

About First Solar, Inc.

First Solar is a leading American solar technology company and global provider of responsibly-produced eco-efficient solar modules advancing the fight against climate change. Developed at research and development labs in California and Ohio, the company's advanced thin film photovoltaic ("PV") modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. From raw material sourcing and manufacturing through end-of-life module recycling, First Solar's approach to technology embodies sustainability and a responsibility towards people and the planet. For more information, please visit www.firstsolar.com.

For First Solar Investors

This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, are forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning: demand for our technology; our expected module shipment backlog; the progression of our Japan operations and maintenance platform sale; the anticipated sale of our Luz del Norte project in Chile; our financial guidance for 2022, including future financial results, operating results, net sales, gross margin, operating expenses, operating income, earnings per share, loss per share, net cash balance, capital expenditures, shipments, bookings, products and our business and financial objectives for 2022; bookings momentum; and the strength our backlog of future expected deliveries. These forward-looking statements are often characterized by the use of words such as "estimate," "expect," "anticipate," "project," "plan," "intend," "seek," "believe," "forecast," "foresee," "likely," "may," "should," "goal," "target," "might," "will," "could," "predict," "continue," "contingent" and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by our forward-looking statements. These factors include, but are not limited to: structural imbalances in global supply and demand for PV solar modules; our competitive position and other key competitive factors; the market for renewable energy, including solar energy; the reduction, elimination, expiration or introduction of government subsidies, policies, and support programs for solar energy projects; the impact of public policies, such as tariffs or other trade remedies imposed on solar cells and modules; the passage of proposed legislation intended to encourage renewable energy investments through tax credits; interest rate fluctuations and both our and our customers' ability to secure financing; changes in the exchange rates between the functional currencies of our subsidiaries and other currencies in which assets and liabilities are denominated; our ability to execute on our long-term strategic plans; the loss of any of our large customers, or the ability of our customers and counterparties to perform under their contracts with us; our ability to execute on our solar module technology and cost reduction roadmaps; our ability to improve the wattage of our solar modules; the creditworthiness of our offtake counterparties and the ability of our offtake counterparties to fulfill their contractual obligations to us; the satisfaction of conditions precedent in our sales agreements; our ability to attract new customers and to develop and maintain existing customer and supplier relationships; our ability to successfully develop and complete our systems business projects; our ability to convert existing production facilities to support new product lines, such as Series 6 module manufacturing; general economic and business conditions, including those influenced by U.S., international, and geopolitical events; environmental responsibility, including with respect to cadmium telluride ("CdTe") and other semiconductor materials; claims under our limited warranty obligations; changes in, or the failure to comply with, government regulations and environmental, health, and safety requirements; effects resulting from pending litigation; future collection and recycling costs for solar modules covered by our module collection and recycling program; supply chain disruption, including the availability of shipping containers, port congestion, canceled shipments by logistic providers, and the cost of fuel, all of which may be exacerbated by the COVID-19 pandemic and the Russia-Ukraine conflict; our ability to protect our intellectual property; our ability to prevent and/or minimize the impact of cyber-attacks or other breaches of our information systems; our continued investment in research and development; the supply and price of components and raw materials, including CdTe; our ability to convert existing or construct production facilities to support new product lines; our ability to attract and retain key executive officers and associates; the severity and duration of the COVID-19 pandemic, including its potential impact on our business, financial condition, and results of operations; and the matters discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Conditions and Results of Operations" of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission.

Contacts

First Solar Investors

investor@firstsolar.com

First Solar Media

media@firstsolar.com

FIRST SOLAR, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

(Unaudited)

                                                                                                                                                                                         June 30,         December 31,
                                                                                                                                                                                         2022             2021
ASSETS
Current assets:
Cash                                                                                                                                                                                     $  1,701,217     $    1,450,654
Marketable securities                                                                                                                                                                       143,944            375,389
Accounts receivable trade, net                                                                                                                                                              454,431            429,436
Accounts receivable unbilled, net                                                                                                                                                           35,438             25,273
Inventories                                                                                                                                                                                 810,461            666,299
Other current assets                                                                                                                                                                        237,926            244,192
Total current assets                                                                                                                                                                        3,383,417          3,191,243
Property, plant and equipment, net                                                                                                                                                          2,988,979          2,649,587
PV solar power systems, net                                                                                                                                                                 156,215            217,293
Project assets                                                                                                                                                                              29,589             315,488
Deferred tax assets, net                                                                                                                                                                    61,732             59,162
Restricted marketable securities                                                                                                                                                            200,266            244,726
Goodwill                                                                                                                                                                                    14,462             14,462
Intangible assets, net                                                                                                                                                                      38,728             45,509
Inventories                                                                                                                                                                                 239,025            237,512
Other assets                                                                                                                                                                                306,956            438,764
Total assets                                                                                                                                                                             $  7,419,369     $    7,413,746
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable                                                                                                                                                                         $  160,963       $    193,374
Income taxes payable                                                                                                                                                                        29,441             4,543
Accrued expenses                                                                                                                                                                            344,205            288,450
Current portion of long-term debt                                                                                                                                                           5,150              3,896
Deferred revenue                                                                                                                                                                            227,466            201,868
Other current liabilities                                                                                                                                                                   36,329             34,747
Total current liabilities                                                                                                                                                                   803,554            726,878
Accrued solar module collection and recycling liability                                                                                                                                     134,146            139,145
Long-term debt                                                                                                                                                                              170,017            236,005
Other liabilities                                                                                                                                                                           415,825            352,167
Total liabilities                                                                                                                                                                           1,523,542          1,454,195
Commitments and contingencies
Stockholders' equity:
Common stock, $0.001 par value per share; 500,000,000 shares authorized; 106,594,255 and 106,332,315 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively     107                106
Additional paid-in capital                                                                                                                                                                  2,868,945          2,871,352
Accumulated earnings                                                                                                                                                                        3,197,005          3,184,455
Accumulated other comprehensive loss                                                                                                                                                        (170,230  )        (96,362   )
Total stockholders' equity                                                                                                                                                                  5,895,827          5,959,551
Total liabilities and stockholders' equity                                                                                                                                               $  7,419,369     $    7,413,746

FIRST SOLAR, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

                                                                   Three Months Ended                              Six Months Ended
                                                                   June 30,       March 31,        June 30,        June 30,       June 30,
                                                                   2022           2022             2021            2022           2021
Net sales                                                          $  620,955     $   367,040      $  629,180      $  987,995     $  1,432,554
Cost of sales                                                         644,155         355,577         455,062         999,732        1,073,669
Gross (loss) profit                                                   (23,200 )       11,463          174,118         (11,737 )      358,885
Operating expenses:
Selling, general and administrative                                   38,894          36,728          36,346          75,622         88,433
Research and development                                              25,229          27,108          23,935          52,337         43,808
Production start-up                                                   13,231          7,338           1,715           20,569         13,069
Total operating expenses                                              77,354          71,174          61,996          148,528        145,310
Gain on sales of businesses, net                                      245,381         1,907           (1,745  )       247,288        149,150
Operating income (loss)                                               144,827         (57,804 )       110,377         87,023         362,725
Foreign currency loss, net                                            (2,984  )       (4,198  )       (1,000  )       (7,182  )      (3,595    )
Interest income                                                       2,880           2,325           1,288           5,205          2,244
Interest expense, net                                                 (3,236  )       (2,865  )       (4,623  )       (6,101  )      (7,619    )
Other (expense) income, net                                           (1,883  )       (212    )       (3,247  )       (2,095  )      5,201
Income (loss) before taxes                                            139,604         (62,754 )       102,795         76,850         358,956
Income tax (expense) benefit                                          (83,799 )       19,499          (20,346 )       (64,300 )      (66,836   )
Net income (loss)                                                  $  55,805      $   (43,255 )    $  82,449       $  12,550      $  292,120
Net income (loss) per share:
Basic                                                              $  0.52        $   (0.41   )    $  0.78         $  0.12        $  2.75
Diluted                                                            $  0.52        $   (0.41   )    $  0.77         $  0.12        $  2.73
Weighted-average number of shares used in per share calculations:
Basic                                                                 106,586         106,412         106,313         106,500        106,201
Diluted                                                               107,056         106,412         106,836         106,965        106,866

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