RONKONKOMA, N.Y., Nov. 12, 2025 (GLOBE NEWSWIRE) -- SUNation Energy, Inc. (Nasdaq: SUNE) (the “Company”), a leading provider of sustainable solar energy and backup power to households, businesses, municipalities, and for servicing existing systems, today announced that Scott Maskin, Chief Executive Officer, and James Brennan, Chief Financial Officer, will participate in the 2025 Bank of America Clean Tech Symposium, being held on November 18, 2025 in New York City. Mr. Maskin will participate in a panel dis ...

Core Points - SUNation Energy, Inc. has terminated all outstanding Series A Common Stock Purchase Warrants, which were part of a Registered Direct Offering from February 27, 2025, in exchange for a one-time payment of approximately $267,392 [1][2] - The termination of the Series A Warrants eliminates the potential dilution from up to 652,174 shares of stock, streamlining the capital structure and enhancing financial flexibility [2] Company Overview - SUNation Energy, Inc. is a provider of sustainable solar energy and backup power solutions, focusing on solar electricity and battery storage [1][3] - The company operates in key markets including New York, Florida, and Hawaii, and offers a comprehensive range of products and services for homeowners and businesses [3]

Core Insights - The company has made substantial progress in reducing debt, lowering costs, and enhancing cash flow, reflecting initial successes from corporate transformation activities [2][4][5] - The commercial project backlog has increased by over 30% year-over-year, indicating strong demand and growth potential in the market [3][5] Financial Performance - For Q1 2025, consolidated revenue decreased by 4% to $12.6 million from $13.2 million, with commercial revenue rising by 28% while residential revenue declined by 3% due to seasonality [5][17] - Gross profit was $4.4 million, representing a gross margin of 35.1%, down from 36.4% in Q1 2024 [9][17] - Selling, general and administrative (SG&A) expenses decreased by 9% to $6.0 million, and interest expense declined by 25% to $0.6 million [9][17] Debt and Cash Flow - The company reduced total debt by over 50% to $9.2 million from $19.1 million as of December 31, 2024, and improved cash and cash equivalents to $1.4 million from $0.8 million [9][17] - The restructuring initiatives eliminated $12.6 million of secured debt, significantly reducing annual cash drain and interest expenses [9][17] Market Outlook - The company anticipates improved results in Q2 2025 as consumers seek to lock in pricing before potential tariff increases and changes to federal solar tax incentives [3][4] - The residential business in Hawaii is expected to rebound due to new solar and battery incentives effective May 2025 [4][5] Strategic Initiatives - The company is exploring opportunities to expand its Service and Maintenance business in the New York metro region, targeting homeowners with orphaned solar systems [4] - Management is pursuing various organic and acquisition-based initiatives to expand market reach and scale operations [4][5]