Emeren(US:SOL)2025-03-13 21:28Financial Performance - Q4 2024 revenue reached $346 million, reflecting a 169% increase Q/Q, driven by strong project monetization[10, 31] - Full year 2024 revenue was $92067 million[59] - Gross profit for the full year 2024 was $24122 million, with a gross margin of 262%[10, 59] - Adjusted EBITDA for the full year 2024 surged 102% Y/Y to $69 million, demonstrating strong margin expansion in DSA and IPP businesses[10] - Cash and cash equivalents at the end of Q4 2024 were $500 million, up from $358 million in Q3 2024, a 40% sequential increase[10, 32] - Net loss for Q4 2024 was $118 million, primarily due to non-cash FX losses and project sales timing shifts[31, 32] Operational Highlights - IPP and DSA contributed 52% of total revenue, demonstrating solid and stable revenue visibility[10] - The company monetized approximately 200 MW of solar PV while strategically retaining 52 MW of projects in Hungary for the IPP portfolio[10] - The company monetized 13 GW BESS across multiple countries including Italy, Germany, France, Spain, Poland, the US, and China[10] - Expanded high-margin DSA, securing 9 partners for 40 projects (>28 GW): Total contracted revenue reached ~$103 million, with ~$19 million recognized in 2024 and ~$84 million expected over the next 2-3 years[10, 12, 14] Outlook - The company anticipates revenue between $30 million and $35 million for the first half of 2025, with a gross margin of 30%-33%[34] - For the full year 2025, the company projects revenue between $80 million and $100 million, with a gross margin of 30%-33% and positive operating cash flow[34]