Stardust Solar Achieves First-Ever EBITDA-Positive Quarter, Powered by Record Q3 Revenues of $1.78M (+99% YoY)
Executive Summary
- Stardust Solar reported record Q3 2025 revenue of $1.78 M (‑99% YoY) and achieved its first EBITDA‑positive quarter ($16,293).
- Gross margin expanded to 44% versus 31% in Q3 2024; net loss narrowed dramatically to $25,018 (‑1% margin).
- New signed contracts totaled $2.55 M (+206% YoY), lifting total backlog to $4.4 M and driving strong cash‑flow visibility.
Key Details
- Revenue: $1.78 M for Q3 2025 (record, +99% YoY).
- Gross Margin: 44% in Q3 2025 vs. 31% in Q3 2024; YTD margin also 44% vs. 29% YTD 2024.
- EBITDA: $16,293 – first positive EBITDA quarter since IPO.
- Net Loss: $25,018 for the quarter (‑1% net loss margin), down from a ‑39% margin in Q2 2025.
- Operating Expenses: $812,628 (+14% YoY) driven by higher advertising, promotion, professional and administrative costs.
- Signed Contracts: $2.55 M signed in Q3 2025 (+206% YoY vs. $829K in Q3 2024).
- Backlog: Total backlog now $4.4 M (↑38% vs. June 30 2025).
- Liquidity: Cash & cash equivalents $340,000 at quarter‑end (up from $171,000 on June 30 2025).
- Operating Cash Flow: Positive $131,000 – first positive operating cash flow quarter since going public.
Nine‑Month Results (ended Sept 30 2025)
* Revenue: $3.99 M (↑40% YoY from $2.85 M).
* Trailing Twelve‑Month Revenue: ≈$4.8 M (↑32% vs. prior 12‑month period).
Management Commentary
“Q3 proves our model is scaling with discipline,” said Mark Tadros, Founder & CEO. “We delivered record revenue, first‑ever EBITDA positivity, a 44% gross margin, and a record quarter for signed contracts… Most importantly, our net loss narrowed to just $25 K with positive operating cash flow, showing clear progress toward consistent profitability.”
Outlook
* Management expects continued franchise expansion and direct product sales growth across Canada, the U.S., and internationally through 2026.
* Focus will remain on working‑capital optimization, supply‑chain efficiency, and scaling a profitable franchise network.
Notable Quotes
- “We are focused on converting backlog into revenue, supporting our franchise partners, and tightly managing working capital.” – Mark Tadros, Founder & CEO
All forward‑looking statements are subject to risks and uncertainties; actual results may differ materially.