Business
Stardust Solar Files 2024 Audited Financial Statements Reporting 38% Revenue Growth
Vancouver, British Columbia--(Newsfile Corp. - June 27, 2025) - Stardust Solar Energy Inc. (TSXV:...
About this update from Stardust Solar Energy Inc.
[{"type":"text","content":"Stardust Solar Files 2024 Audited Financial Statements Reporting 38% Revenue GrowthVancouver, British Columbia--(Newsfile Corp. - June 27, 2025) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) has filed its audited consolidated financial statements, management's discussion and analysis (MD&A) and related CEO/CFO certifications for the year ended December 31, 2024. The documents are now available on SEDAR+ and at www.stardustsolar.com.For 2024, Stardust Solar generated $3.61 million in revenue, an increase of 38 percent, over 2023. Growth was led by the U.S. franchise segment, where revenue rose to $1.25 million from $0.21 million a year earlier, an approximate 483 percent year-over-year increase.Operating results include one-time costs associated with the Company's public-listing process: $0.99 million in professional fees for legal, audit, listing and exchange matters, and a non-cash reverse-takeover transaction cost of $3.90 million. Management expects these extraordinary items to decline substantially in 2025.\"Completing our first audited year as a public company demonstrates the momentum of our franchise model,\" said Mark Tadros, Founder & CEO. \"The significant jump in U.S. sales highlights the demand for our turnkey clean-energy platform across the United States.\"Eamonn McHugh, COO, added, \"With our horizontal expansion of new franchise territories, an expanding backlog of system-wide project sales, and the bulk of listing costs behind us, we believe Stardust Solar is well positioned for another year of double-digit top-line growth.\"During 2024 the Company expanded from 27 to 83 franchise territories and has since reached 94 territories across North America. Strategic agreements with Tesla (Powerwall), Rematek Energie (Quebec distribution) further strengthened support for franchisees. Management anticipates continued revenue growth in 2025, driven by deeper U.S. market penetration, direct containerized equipment procurement and the upcoming launch of a mobile certification application that enhances installer training.About Stardust Solar:Stardust Solar is a North American franchisor of renewable energy installation services, specializing in solar panels (PV), energy storage systems, and electric vehicle supply equipment. The Company equips entrepreneurs with branded business management services, c...