Stardust Solar Energy Inc. reported record financial results for the quarter ended September 30, marking a significant milestone with its first positive EBITDA. The company generated revenue of $1.78M, representing a 99% increase compared to the third quarter of 2024, while gross margin reached 44%, up from 31% a year earlier.
Financial results show marked improvement
Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at $16,293, reflecting a notable enhancement in operational performance. Net loss for the quarter was reduced to $25,018, representing a net loss margin of just 1%. This result is a sharp contrast to the $475,000 net loss recorded in the second quarter.
Operating expenses totalled $812,628, up 14% year-on-year due to increased spending on advertising, professional services and regulatory compliance. Despite this rise, the company posted a positive operating cash flow of $131,000, a key indicator for a publicly traded growth-phase business.
Contract acceleration and backlog expansion
Stardust Solar signed $2.55M in new contracts during the quarter, a record for the company, and a 206% increase compared to the $829,000 signed in the same period in 2024. This growth pushed the backlog to $4.4M, up 38% from the previous quarter.
For the first nine months of the year, the company generated cumulative revenue of $3.99M, compared to $2.85M a year earlier. On a trailing twelve-month basis, revenue reached approximately $4.8M, reflecting a 32% increase. This trajectory signals continued positive momentum in the sale and installation of solar solutions through its franchise network.
Founder and Chief Executive Officer Mark Tadros stated that the company is now focused on converting backlog into revenue and managing working capital, while continuing to expand its network across North America and internationally.
