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Stardust Solar Reports 20% Revenue Growth in Q1 2025 and Strengthens Gross Margin to 48%
Vancouver, British Columbia--(Newsfile Corp. - July 8, 2025) - Stardust Solar Energy Inc. (TSXV: ...
About this update from Stardust Solar Energy Inc.
[{"type":"text","content":"Stardust Solar Reports 20% Revenue Growth in Q1 2025 and Strengthens Gross Margin to 48%Vancouver, British Columbia--(Newsfile Corp. - July 8, 2025) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (FSE: 6330) a North American provider of renewable-energy installation and training services, today announced its interim financial results for the three months ended March 31, 2025 (\"Q1 2025\").Q1 2025 Financial Highlights(All figures in Canadian dollars)Revenue of $1.00 million, an increase of 20% over $0.83 million in Q1 2024.Gross margin improved to 48% (Q1 2024: 27.4%).Achieved record-high quarterly franchise fees and royalties of $0.33 million, a 2.5-fold growth compared to Q1 2024. Product gross profit rose 110% year-over-year to $0.10 million, lifting product gross margin to 18%. Net loss of $0.65 million, or $0.01 per share (Q1 2024: net loss of $0.39 million or $0.02 per share).Franchise territories grew to 87 as at March 31, 2025, up from 83 at December 31, 2024.Working capital improved by $0.13 million during Q1 2025.Loans and lease obligations declined 44% to $0.43 million, reducing future interest expense.Management Commentary\"Q1 2025 delivered solid top-line growth alongside a meaningful improvement in gross margin, underscoring the strength of our franchise model,\" said Mark Tadros, Founder and Chief Executive Officer. \"With 87 active territories and a growing sales backlog, we are confident in surpassing 100 territories later this year and continuing to enhance profitability.\"Operational ReviewDuring the quarter, Stardust Solar added 4 net new franchise territories, expanded its accredited training programs to include new advanced curriculums, and continued executing its U.S. expansion plan. Product sales were modestly lower year-over-year because Q1 2024 included a single large commercial order in Kentucky. Adjusting for that order, underlying product revenue was consistent with management's expectations.Operating expenses of $1.14 million included $0.28 million of one-time advertising and promotion costs related to investor-relations campaigns in the United States and Germany that have since been terminated. Excluding these costs, operating expenses were relatively stable year-over-year, despite a 23% increa...