Ascent Solar Technologies, Inc. reported earnings results for the full year ended December 31, 2017. The company posted net revenue of $0.64 million in 2017, a decline of approximately 63.2% from $1.75 million in 2016. Loss from operations in 2017, however, improved greatly by $10.48 million, or 42.6% from $24.6 million in 2016 to $14.15 million. The revenue decline is a direct result of the company's exit from brick and mortar retail customers due to a number of factors, including the high cost of doing business especially with those who were overly battery centric which is no longer in line with Ascent's overall roadmap; and charged-back and revenue contras from prior commitments resulting from discontinuation of EnerPlex sales channels. Net loss for the year 2017 was $18.56 million, which included approximately $4.4 million in non-cash interest expense, changes in fair value of derivatives, and extinguishment of liabilities associated with the outstanding convertible notes and convertible preferred stocks.

The company believes will add to revenue growth in 2018 and beyond. The company is optimistic and certainly look forward to a stronger 2018 and beyond, as the company's high-value PV market focus begins to take shape.