Earnings release
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Stardust Solar Files 2024 Audited Financial Statements Reporting 38% Revenue Growth Vancouver, 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, cutting-edge equipment, and comprehensive support, including marketing, sales, engineering, and project management. With franchises across Canada and the United States, Stardust Solar drives the adoption of clean energy solutions that boost economic development and create a more sustainable future. Media and Investor Contacts: Steve Rickaby Communications and Investor Relations Phone: 1-672-472-1345 Email: steve@stardustsolar.com Website: www.stardustsolar.com Disclaimer: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements, including statements relating to the Company's business plans and expected future growth, expected franchise expansions, the outlook of future operations, revenue growth, new opportunities and the demand for the Company's products. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention. It assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257166