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Stardust Solar Energy Inc. ( (TSE:SUN) ) has provided an update.
Stardust Solar Energy Inc. reported its first-ever EBITDA-positive quarter, driven by record Q3 revenues of $1.78 million, a 99% increase year-over-year. The company achieved a gross margin of 44% and significantly reduced its net loss, highlighting its progress towards profitability. With $2.55 million in new signed contracts, the company increased its backlog to $4.4 million, demonstrating strong growth and market demand. The positive operating cash flow marks a milestone for Stardust Solar, as it continues to expand its franchise network and direct product sales across North America and internationally.
More about Stardust Solar Energy Inc.
Stardust Solar is a North American franchisor specializing in renewable energy installation services, including solar panels, energy storage systems, and electric vehicle supply equipment. The company supports entrepreneurs with business management services, equipment, and comprehensive support, operating franchises across Canada and the United States to promote clean energy solutions.
Average Trading Volume: 73,906
Technical Sentiment Signal: Sell
Current Market Cap: C$4.62M
Find detailed analytics on SUN stock on TipRanks’ Stock Analysis page.