Stardust Solar Energy (SUN) Q4 2025 earnings summary

Executive summary

• Achieved 29% year-over-year revenue growth to $4.7M for FY2025, with early reporting reflecting operational discipline and efficiency.

• Expanded global franchise network by 23% to 102 territories, with continued international expansion and 4 new territories launched in early 2026.

• Completed integration of Solar Grids, enhancing scalability and standardization across operations.

• Training division delivered high-margin performance, training over 3,000 installers and supporting workforce development.

• Advanced utility-scale strategy with Zambia project progressing toward 2026 completion.

Financial highlights

• Revenue grew 29% year-over-year to $4.7M in FY2025.

• Gross margin expanded to 40%, up from 27% in 2024, reflecting strong operating leverage.

• Training division achieved approximately 60-70% gross margins.

• Record contract growth and backlog reported in Q3 2025, strengthening growth visibility.

Outlook and guidance

• Targeting profitability in 2026, supported by strong revenue growth and expanding margins.

• Plans to add 25+ new franchisees in 2026, further expanding recurring revenue base.

• Growth to be driven by sales enablement, marketing, recurring royalty and licensing revenue, and scaling of training and certification.

• Advancing utility-scale solar projects, including Zambia, and exploring additional international opportunities.